The growing prevalence of diabetes is one of the significant factors influencing market growth.

The global insulin pumps market is expected to reach USD 10.25 Billion by 2028, according to a new report by Reports and Data. Insulin pumps are used for insulin therapy and is used for the treatment of patients with all types of diabetes.

The need for insulin therapy depends upon the balance between insulin resistance and insulin secretion. Patients with type 1 diabetes require insulin treatment permanently unless they receive a whole organ pancreas transplant or an islet. Type 2 diabetes patients require insulin as their beta-cell function lowers over time.

Diabetes and its complications, societal costs, and deaths have a huge and rapidly growing impact across the globe. In 2019: approximate 463 million adults (20-79 years) were living with diabetes, and by 2045, this is expected to rise to 700 million. A growing number of diabetic patients are propelling the demand for insulin.

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Substantial revenue growth of the global pharma & healthcare market is driven by factors such as growing burden of chronic and acute diseases across the globe, rise in geriatric population, growing consumer awareness of health & wellness, and increasing need for more advanced and patient-centered healthcare services. Some of the other major factors contributing to market revenue growth are growing demand for advanced medications and therapeutics, growing availability of advanced point-of-care diagnostics, increasing research & development activities and clinical trials in the biotechnology and pharmaceutical industries, and rise in government and private investments in the healthcare sector. Rising cases of the novel coronavirus infection globally, rapid development of advanced COVID-19 diagnostics including the RT-PCR test kits, increased government investments in COVID-19 vaccine development, growing trends of telehealth and telemedicine, and increasing demand for remote patient monitoring solutions are factors further driving market revenue growth to a major extent.

Global Insulin Pumps Market Report: Regional Segmentation

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Rest of MEA

Further key findings from the report suggest

  • By product, traditional insulin pumps dominated the market share in 2020 and is likely to experience a growth rate of 8.9% in the forecast period. The growth of these type of pumps is primarily owing to their better reliability and high availability of the product.
  • By accessories, the insulin set insertion device held the largest market share in 2020 and is estimated to witness a growth rate of 9.2% in the forecast period. The market dominance of this insulin pump accessory is attributed to its high usage frequency.
  • By end-users, hospitals & clinics dominated the market in 2020 and are projected to have a CAGR of 9.0% in the forecast period. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare facilities, increasing government funding, and rising private sector investments in the healthcare sector.
  • North America dominated the market in 2020 and is anticipated to grow at a rate of 8.9% in the period 2019-2028. Rapid technological advancements, increasing prevalence of diabetes, and new product launches by market players, among others, are causative of the high market demand in the region.

 

Top Players in the Global Insulin Pumps Market:

Animus Corporation, Asante, Insulet Corporation, Nipro Diagnostic Inc., Cellnovo Ltd., Ypsomed Group, Medtronics Inc., Tandem Diabetes Care Inc., Roche, and Valeritas, among others.

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Frequently Asked Questions Answered in the Report:

  • What is the expected revenue growth rate of the global Insulin Pumps market over the forecast period?
  • What are the key factors driving the global market revenue growth?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
  • Which regional market is expected to lead in terms of revenue share over the forecast years?
  • Which are the leading manufacturers and suppliers in the global Insulin Pumps market?

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