Insulin Pump Market Analysis:
Global Insulin Pump Market size and share is estimated to reach USD 8.52 billion with expanding at a CAGR of 8.4% By 2023. Insulin Pump Market is expected to witness significant growth due to rising demand for insulin pumps, growing occurrence of diabetes globally, increasing adoption of sedentary lifestyle and rising consumption of junk food.
Insulin pumps help to control blood glucose level of diabetic patients. The global insulin pump market could benefit from its user-friendly nature. The innovative glucose sensors can observe and forecast a patient’s blood glucose levels. Research & development (R&D) in medical science has resulted in coordination of two technologies, from sensor-augmented insulin pumps and sensor-driven insulin pumps to a completely automated, independent sensing and delivery system.
Insulin Pump Market Key Players:
Prominent players in the global insulin pump market include
• Abbott Laboratories (USA)
• Becton Dickinson (USA)
• Braun Melsungen AG (Germany)
• F. Hoffmann-La Roche AG (Switzerland)
• Insulet Corporation (USA)
• Medtronics (Ireland)
• Sanofi (France)
• others
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Insulin Pump Market Segmentation:
The global insulin pump market segmentation covers
• Types
• End-users
By type, the insulin pump market has been segmented into
• disposable insulin pump
• traditional insulin pump
Holding the largest share, the traditional insulin pump segment can be worth USD 4587.5 million by 2023.
Based on the end-users, this insulin pump market has been segmented into
• home care
• hospital & clinics
• laboratories
During the forecast period, the home care segment can have the fastest growth at 8.9% CAGR.
Insulin Pump Market Regional Insights:
A geographical outlining of the global insulin pump market encompasses
• North America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)
During the forecast period, the home care segment can have the fastest growth at 8.9% CAGR.
Insulin Pump Market Regional Insights:
A geographical outlining of the global insulin pump market encompasses
• North America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)
By holding the largest global insulin pump market share, North America can dominate the market throughout the review period due to growing prevalence of diabetes in the region. Other factors facilitating the market growth in this region include sedentary lifestyle of consumers, technological advancement, high consumption of junk food, availability of advanced medical facilities, increasing diabetes, as well as, obesity among consumers, and the presence of some important market players in the USA. After the USA, Canada is another notable country-specific market in this region.
During the forecast period, the insulin pump market share in the Asia Pacific region can grow due to the growing prevalence of diabetes in countries like China, India, Indonesia, Malaysia, and Taiwan. In this region, the market is growing due to improving medical facilities in China and India. Australia, Japan, and South Korea are also three other important country-specific markets. A spur in disposable income in the region, along with the availability of better medical facilities and growing healthcare awareness, is all set to change the regional market dynamics.
In Europe, the market can grow during the forecast period due to technological advancement and the availability of advanced medical facilities. In both these aspects, Europe is second only to North America. Many significant market players are based in Europe. The cardinal country-specific markets in this region include France, Germany, Italy, Spain, and the UK.
The MEA region holds the smallest insulin pump market share due to the less emphasis on improving healthcare, limited availability of technology, lack of awareness, presence of stringent government policies, and poor economies. The countries falling in the Middle East segment of this region have better medical facilities compared to the countries in the African segment. The focal country-specific markets in this region are Egypt, Saudi Arabia, and UAE.
Table of Content
• Report Prologue
• Market Introduction
• Research Methodology
• Market Factor Analysis
• Global Insulin Pump Market by Type
• Global Insulin Pump Market, by Accessories
• Global Insulin Pump Market by Application
• Global Insulin Pump Market by End-User
• Global Insulin Pump Market, Region
• Competitive Landscape
• Company Profiles
• Appendix
• List of Tables
Market Dynamics:
Drivers
• Increasing Prevalence of Diabetes
• Rise in Global Obesity Population
• Technological Advancements in Drug Delivery Devices
• Growing Global Awareness of Diabetic Care
Restraints
• Risks and Disadvantages Associated with Insulin Pumps
• High Costs of Insulin And Insulin Pumps
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