PRZOOM - /newswire/ -
Amherst, NH, United States, 2011/10/27 - Small format wearable devices positioned to change insulin therapy according to Greystone Research Associates - GreystoneAssociates.org.
Taken together the two classifications, or types, of diabetes are among the most expansive and expensive chronic conditions currently facing the healthcare community. Recent predictions and forecasts are projecting that the market for insulin will grow significantly in the next five years as the number of patients diagnosed with either Type I or Type II diabetes grows dramatically worldwide. The human and financial incentives of this trend are behind the growing list of companies – large and small, public and private - pursuing patient-friendly insulin administration methods that address the user preference and compliance issues associated with traditional delivery methods.
Once thought to be the heir-apparent to injection, the spectacular collapse of the inhaled insulin market in 2008 left the door wide open for new challengers. The likely winner in the quest to replace syringes and injectors now appears to be the insulin patch pump. In its most elegant form, the insulin patch pump represents a hybrid drug delivery approach that was born out of the convergence of a transdermal reservoir system with an energy source and control technology. The acceptance of patch pump insulin delivery devices has been demonstrated by Insulet’s OmniPod system which was approved by the FDA in 2005. The commercialization of three additional FDA-approved devices places the insulin patch pump in a leading position to replace injection.
Over the next six years, syringes and injectors will face continued challenges from new and emerging insulin delivery methods – methods that will include pulmonary, intranasal, transdermal, oral and hybrid systems. Each of these alternative delivery methods will be competing to take market share away from syringes and injectors, which will come under escalating pressure as new delivery systems are approved and commercialized.
For patch pump suppliers, competition will also come from within their own product segment. With a number of serious development-stage devices winding their way through the development process, the next 36 months will be critical to market sector participants wishing to ascend to a leadership position in the insulin patch pump market. With no room for post-market missteps, product reliability, ease-of-use and patient acceptance will be essential for market success.
These developments are examined in a new and comprehensive survey written and researched by Greystone Research Associates. Insulin Patch Pumps: Devices, Markets, Players and Prospects includes technology analysis, product assessments, market data, market factor analysis and market sector participant profiles.
Greystone Research Associates (greystoneassociates.org) is a medical technology consulting firm focused on the areas of medical market strategy, product commercialization, venture development, and market research. We assist medical and healthcare market participants in achieving their business objectives through the creation of detailed development strategies, product commercialization programs, and comprehensive market and technology research and analysis. Our market research publications are designed, researched and written to provide timely and insightful information and data on focused market segments, with the aim of providing market participants with the essential knowledge to refine and execute their marketing plans and financial targets.