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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After receiving US FDA clearance in May, Beta Bionics secured $100m in financing which is expected to be used to commercialize its iLet Bionic Pancreas and “further develop and test the bi-hormonal bionic pancreas.”
During its recent quarterly earnings call, Medtronic CEO Geoff Martha reiterated that the company expects to announce changes over the next year that will help it drive growth and shareholder value. Analysts suspect Medtronic’s struggling diabetes business is probably the top candidate for a sale.
Omnipod 5 is the first tubeless automated insulin delivery system compatible with Dexcom’s G6 continuous glucose monitoring system to automatically adjust insulin levels.