Insulin Pump Market to hit US$ 18.05 Billion by 2030 | Exclusive Report by Growth Plus Reports

Pune, Sept. 14, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by growth plus reports, the global insulin pump market is expected to clock at US$ 18.05 billion by 2030 and to grow at a CAGR of 8.7% during the forecast period. Owing to the preference of diabetic patients over comfortable insulin delivery systems and technologically advanced devices this exclusive information is published by Growth Plus Reports in its report titled "Insulin Pump Market – Global Outlook & Forecast 2022-2030"

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Excerpts from ‘Competitive Landscape'

The prominent players operating in the global insulin pump market are:

  • Valeritas, Inc
  • Ypsomed AG
  • Insulet Corporation
  • F. Hoffmann-La Roche Ltd
  • Tandem Diabetic Care, Inc
  • Cellenovo
  • Sooil Development
  • Nipro Diagnostic, Inc
  • Microtech Medical
  • Medzer Ltd

Growth Drivers

The market is growing as a result of technological developments and an increase in the use of insulin pumps in place of more conventional techniques. The rising senior population, rising diabetes incidence, and rising obesity prevalence contribute to the market's expansion. In the near future, it is also projected that technical advancements like the artificial pancreas and home infusion therapy would generate major growth potential. Additionally, growing public knowledge of insulin pumps and their use has fueled market expansion in both developed and developing nations.

The global insulin pump market has been analyzed from four different perspectives – pump type, disease indication, end-user, and region.

Excerpts from ‘By Pump Type Segmentation'

The global insulin pump market is dominated by the tethered pumps segment. Flexible tubing connects the pump to the cannula on tethered pumps. The traditional pumps' dependability and availability of products in the market are primarily responsible for the segment's substantial market size. On the other hand, the patch pump segment is anticipated to experience a significant CAGR during the projection period. Patch pumps are tiny and can be adhered to the skin's surface directly. The fact that patch pumps do not require tubing and their remote control matches a blood glucose meter is a crucial factor in the insulin pump market's rapid expansion. These factors drive the global insulin pump market.

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Excerpts from ‘By End-User Segmentation'

The global insulin pump market is divided into:

  • Hospitals & Clinics
  • Homecare Settings
  • Laboratories

The hospitals and clinics segment is anticipated to dominate over the projection period. Due to the abundance of qualified healthcare workers, rising government financing, and rising private sector investment in the healthcare industry, the segment's significant share has been explained. During the forecast period, the homecare category is anticipated to have the quickest CAGR. The sector's expansion is attributable to rising insulin pump usage knowledge and widespread use of these items at home due to their simplicity. The market is also anticipated to grow during the forecast period due to the utilization of patch pumps that are portable and tiny in size.

Excerpts from ‘By Region Segmentation'

Based on region, the global insulin pump market has been segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Asia Pacific region is projected to grow significantly in the projected period in the insulin pump market. This is attributed to the rising prevalence of diabetes due to changes in lifestyle, the adoption of more technologically advanced devices, and initiatives taken by the government in spreading awareness to curb diabetes cases and by providing healthcare funding. China is likely to dominate the Asia Pacific region due to its large population and growth in the economy over the years.

Table of Content

    1. Market Ecosystem 
    2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecasted Years – 2022 to 2030
    3. Currency Used in the Report
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions       
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2021) 
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
    1. Patch Pumps
    2. Tethered Pumps
    1. Type 1 Diabetes
    2. Type 2 Diabetes
    1. Hospitals & Clinics
    2. Homecare Settings
    3.  Laboratories 

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Director, Market Insights
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