Global Insulin Pump Market Size To Worth USD 14.69 Billion By 2033 | CAGR Of 10.59%
Category: HealthcareGlobal Insulin Pump Market Size To Worth USD 14.69 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Insulin Pump Market Size is to Grow from USD 5.37 Billion in 2023 to USD 14.69 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.59% during the projected period.
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Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the "Global Insulin Pump Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Pumps and Consumables), By Disease Indication (Type 1 Diabetes and Type 2 Diabetes), By Distribution Channel (Hospital Pharmacy and Retail & Online Pharmacy), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/insulin-pump-market
Insulin pumps are small, electronic devices designed and programmed to provide fixed insulin dosages to diabetics. Insulin pumps are compact, automated medication delivery devices that assist diabetics in taking their recommended insulin dosages. Insulin pumps are becoming more and more widely accepted as a diabetes treatment and control tool because they provide reliable and timely insulin dosages. The elderly population is a major driver of the insulin pump market. To enable continuous blood sugar monitoring and insulin delivery, the insulin pumps are attached to the blood glucose monitoring system and adhere to the skin through an adhesive coating. Additional product innovations will encourage the adoption of the insulin pump by reducing costs, improving accessibility, and making it available to all patients who desire to use it. These pumps offer remarkable therapeutic effects and are made with modern technology. However, due to the strict regulatory framework and additional political considerations, pharmaceutical companies can set high prices without having to be responsible or under examination. Most people do not have access to insulin pumps due to their expensive cost.
The patch pumps segment is anticipated to grow at the fastest CAGR growth of the insulin pump market during the projected timeframe.
Based on the product type, the insulin pump market is divided into pumps and consumables. Among these, the patch pumps segment is anticipated to grow at the fastest CAGR growth of the insulin pump market during the projected timeframe. Insulin patches are tiny, electronic pumps that are applied to the skin's surface. These techniques have several benefits over continuous glucose monitors, many daily injections, and other devices.
The type 1 diabetes segment accounted for the highest market share of the insulin pump market during the projected timeframe.
Based on the disease indication, the insulin pump market is divided into type 1 diabetes and type 2 diabetes. Among these, the type 1 diabetes segment accounted for the highest market share of the insulin pump market during the projected timeframe. Because type 1 diabetes is a chronic illness, the patient's survival depends on receiving insulin regularly. The pancreas produces very little or no insulin for the body.
The retail & online pharmacy segment accounted for the largest revenue share of the insulin pump market during the projected timeframe.
Based on the distribution channel, the insulin pump market is divided into hospital pharmacy and retail & online pharmacy. Among these, the retail & online pharmacy segment accounted for the largest revenue share of the insulin pump market during the projected timeframe. Customers are now given additional convenience due to the growing number of retail pharmacies. Retail pharmacies increase customer accessibility by offering multiple brands and their accessories at a single location.
North America is expected to hold the largest share of the insulin pump market over the forecast period.
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North America is expected to hold the largest share of the insulin pump market over the forecast period. The market for insulin pumps is growing in North America due to several significant industry players, the rising prevalence of diabetes, and the public's increasing need for innovative drug delivery methods. In addition, the market in the area is growing as a result of increased FDA approvals and rising expenditure on healthcare.
Asia Pacific is predicted to grow at the fastest pace in the insulin pump market during the projected timeframe. The number of people in the area with diabetes is rapidly increasing, and more people are becoming aware of the latest advancements in diabetes care. China and India account for the majority of the world's diabetes patients, according to the International Diabetes Federation.
Major vendors in the insulin pump market include Animas Corporation, Johnson & Johnson, Debiotech S.A., Zealand Pharma, Terumo Corporation, Medtronic, Vicentra B.V., Insulet Corporation, Nipro Diagnostic Inc., Jiangsu Delfu Co. Ltd., Cellenovo, Tandem Diabetes Care, Ypsomed, Sooil Development., and Others.
Recent Developments
- In September 2023, Roche Diabetes's Accu-Chek Solo micropump was authorized by the US FDA.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the insulin pump market based on the below-mentioned segments:
Global Insulin Pump Market, By Product Type
- Pumps
- Consumables
Global Insulin Pump Market, By Disease Indication
- Type 1 Diabetes
- Type 2 Diabetes
Global Insulin Pump Market, By Distribution Channel
- Hospital Pharmacy
- Retail & Online Pharmacy
Global Insulin Pump Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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