Market Trends of South Korea Insulin Infusion Pump Industry
Insulin Pump is Expected to Witness Growth Over the Forecast Period
An insulin pump is a device that continuously or, as needed, distributes insulin. The pump is modeled after the human pancreas. The insulin infusion pump can be used instead of a daily injection regimen or an insulin pen. Insulin pump treatment is a popular technique of insulin delivery for people with type 1 diabetes (T1DM). Pumps are a well-known and tried-and-true therapeutic option for T1DM patients of all ages, providing near-physiological insulin administration when the pancreas fails to generate insulin. Remote-controlled insulin pumps allow parents to suspend or bolus insulin from a safe distance while their child is playing or eating.
Insulin pumps have been utilized in Korean diabetic patients since the late 1970s and early 1980s. Two individuals utilized an insulin pump, according to a study of 33 kids hospitalized at the Department of Pediatrics at Seoul National University Hospital between 1967 and 1983. Although there was a little delay in introducing rigorous diabetic therapy in Korea, it appears to have followed the pattern seen elsewhere. According to a recent study, between 2010 and 2022, traditional insulin therapy declined from 33.9% to 9.0% in Korean children and adolescents with T1D, whereas MDI and insulin pumps grew from 63.9% and 2.1% to 77.0% and 14.0%, respectively. New technologies in the market are driving the insulin pump market in the forecast period, such as artificial pancreas systems that synchronize an insulin pump and continuous glucose monitor to deliver an almost completely hands-off approach to diabetes management and the newest one cleared by the FDA aims to make that goal even easier to achieve.
Rising diabetes prevalence in the country is anticipated to boost the market studied
Diabetes is more common among adults in South Korea, and its economic cost exceeds general cancer. Diabetes complications or associated comorbidities, as well as hospitalization, incur significant costs. Controlling diabetic complications, using healthcare resources, and reducing the financial burden requires effective strategies. Increased understanding of the scope and specific components of the economic burden of diabetes in Korea is likely to motivate health officials to prioritize the prevention and management of the disease and to devote more healthcare resources to diabetes.
Diabetic pharmaceuticals help people with diabetes stabilize and maintain their blood glucose levels. Diabetes drugs are commonly used to keep diabetes under control. Diabetes drugs are divided into numerous categories. Each medication class has a distinct mechanism of action for decreasing blood sugar. A drug may work by stimulating the pancreas to make and release more insulin, decreasing the liver's ability to generate and release sugar, suppressing the activity of intestinal enzymes that break down carbohydrates, and various other ways. It also increases insulin sensitivity in cells, lowering the kidneys' ability to absorb sugar and increasing the amount of sugar discharged in the urine. The prevalence of type-1 and type-2 diabetes in the adult South Korean population is high, as is the number of people who have not yet been diagnosed. Because of an aging population and an unhealthy lifestyle (the proportion of energy intake from carbs is higher in diabetes patients than in those without diabetes, while that from protein and fat is lower), the incidence of type 2 diabetes is predicted to climb significantly over the next few years. For type 2 diabetes patients, high-quality therapy, including accurate monitoring, risk factor reduction, and active self-management, is crucial for preventing complications.
As a consequence of the factors above, the investigated market is predicted to grow during the investigation.
