Insulin Pump Market Size [2022-2029]: $13.17 Billion by 2029 at CAGR of 16.3%

Pune, India, May 30, 2022 (GLOBE NEWSWIRE) -- The global Insulin Pump Market size was USD 4.01 billion in 2021. The market size is expected to rise from USD 4.57 billion in 2022 to USD 13.17 billion by 2029 at a CAGR of 16.3% during the forecast period. Fortune Business Insights™ publishes this information in a report titled, "Insulin Pump Market, 2022-2029". As per the report, the market is projected to grow during the forecast period due to the rising adoption of these pumps for type 2 diabetes.

Key Industry Development:

  • March 2022: Ypsomed AG partnered with Abbott and CamDiab to accelerate the development of an automated insulin delivery system for diabetic patients. The system is designed to integrate Abbott's FreeStyle Libre 3 sensor, CamDiab's CamAPS FX algorithm, and Ypsomed's mylife YpsoPump to automate the process of insulin delivery on real-time glucose data.          


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Insulin Pump Market Report Scope & Segmentation :

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 16.3%
2029 Value Projection USD 13.17 Billion
Base Year 2021
Market Size in 2021 USD 4.01 Billion
Historical Data for 2018 to 2020
No. of Pages 181
Segments covered By product type , By Disease Indication,  By Distribution Channel
Growth Drivers Delayed Diagnosis & Treatment Amid Pandemic Hampered Market Growth
Rising Prevalence of Diabetes Among Population to Propel Growth
North America Dominates Global Market Due to Rising Availability of Pumps


COVID-19 Impact:

Delayed Diagnosis & Treatment Amid Pandemic Hampered Market Growth

The COVID-19 pandemic affected the Insulin Pump Market growth during the pandemic period. Governments restricted transportation and supplies of raw materials, which affected the production rate and profitability of the companies operating in this market. Also, the delay in diagnosis and treatment of diabetes has led to sluggish market growth. Furthermore, delayed purchase of insulin pumps during the pandemic has affected the market expansion and development. 

Segments:

Increasing Demand for Pumps to Bolster Segmental Growth

By product type, the market is divided into pumps and consumables. Pumps are categorized into tethered pumps, patch pumps, and others. The pumps segment is expected to dominate the market share due to the rising diabetic population.

Type 1 Diabetes Segment to Hold Prominent Market Share

Based on disease indication, the market is bifurcated into type 1 diabetes and type 2 diabetes. The type 1 diabetes segment led the market during the forecast period due to the increasing population of type 1 diabetic patients.


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Retail & Online Pharmacies to Lead the Market During Forecast Period   

On the basis of distribution channel, the market is segregated into hospital pharmacy and retail & online pharmacy. The rising availability of diabetes management devices and solutions in retail outlets and online stores will augment the market growth in the coming years.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report provides complete information regarding recent developments and technological advancements in the market. Also, drivers and restraints affecting market growth during the projected period are highlighted further in this report. Furthermore, the impact of COVID-19 pandemic on market development and expansion is discussed further in the report. A list of key market players is given along with the key developments introduced by the players.

Drivers & Restraints:

Rising Prevalence of Diabetes Among Population to Propel Growth

The market is expected to grow during the projected period due to the rising prevalence of diabetes. Several factors to bolster the market growth are increasing obesity and a sedentary lifestyle among the population. Increasing utilization of insulin pumps and recent product approvals are anticipated to bolster market growth during the forecast period.

However, the high cost of insulin pumps may hamper the market growth.   


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Regional Insights:

North America Dominates Global Market Due to Rising Availability of Pumps

North America holds the highest global Insulin Pump Market share during the projected period due to favorable reimbursement environment policies in the U.S. These pumps' rising availability and adoption are expected to drive the regional market.

Europe holds the second-largest market share and is expected to exhibit a higher growth rate due to the rising prevalence of diabetes. Also, increasing the adoption of these pumps by diabetic patients is likely to fuel the market growth.   

Competitive Landscape:

Forming Partnership Allows Key Players to Strengthen their Market Position 

The prominent players leading the market share focus on forming strategic alliances and partnering with the supporting companies to improve their business performance. Also, the leading market players introduce new products to enhance their product portfolio and propel growth during the forecast period.

List of Key Players Profiled in the Report:  

  • Medtronic (Ireland)
  • Tandem Diabetes Care, Inc. (U.S.)
  • Ypsomed AG (Switzerland)
  • Insulet Corporation (U.S.)
  • F. Hoffmann-La Roche Ltd (Switzerland)


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Table Of Contents :

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Ageing Population, Prevalence and Cost Burden of Diabetes, Key Countries, 2021
    • Evolution of Insulin Pumps
    • Total Addressable Market and Insulin Pump Penetration
    • Reimbursement Scenario, in Key Countries
    • Impact of Covid-19 on the Market
    • Comparison Based on Selective Parameters – Major Insulin Pump Manufacturers
    • Key Industry Developments (Mergers, Acquisitions, New Product Launches, etc.)
  • Global Insulin Pump Market Analysis, Insights and Forecast, 2018-2029
    • Market Analysis, Insights and Forecast By Product Type
      •  Pumps
        • Tethered Pumps
        • Patch Pumps
        • Others
      •  Consumables
    • Market Analysis, Insights and Forecast By Disease Indication
      • Type 1 Diabetes
      • Type 2 Diabetes
    • Market Analysis, Insights and Forecast By Distribution channel
      •  Hospital Pharmacy
      • Retail & Online Pharmacy
    • Market Analysis, Insights and Forecast By Geography
      •  North America
      •  Europe
      •  Asia Pacific
      •  Latin America
      • Middle East & Africa
  • North America Insulin Pump Market Analysis, Insights and Forecast, 2018-2029
    • Market Analysis, Insights and Forecast By Product Type
      •  Pumps
        • Tethered Pumps
        • Patch Pumps
        • Others
      •  Consumables
    • Market Analysis, Insights and Forecast By Disease Indication
      • Type 1 Diabetes
      • Type 2 Diabetes
    • Market Analysis, Insights and Forecast By Distribution channel
      •  Hospital Pharmacy
      • Retail & Online Pharmacy
    • Market Analysis, Insights and Forecast – By Country
      • U.S.
        • By Disease Indication
      • Canada
        • By Disease Indication

Toc Continue…


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