Market Intel: Rivalry Among Insulin Pump Makers Heats Up With Expected Launches In 2021
The global insulin pump market is expected to see double-digit growth, reaching $5.1bn in 2024, with product launches expected by Medtronic, Insulet, Tandem and smaller players in 2021.
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The company’s revenue was down just 1% year-over-year in the third quarter of fiscal 2021, despite the ongoing impact of the pandemic.
The announcement follows Medtronic’s acquisition of Companion Medical, which developed the first FDA-cleared insulin smart pen.
The US FDA approval of Medtronic’s Bluetooth-enabled MiniMed 770G in children as young as 2 paves the way for a PMA supplement of the next-gen MiniMed 780G.