Insulin Pumps Market Size Expands Steadily at a CAGR of 15.50% to Cross USD 14.99 Billion by 2032
Research Reports
Aug 22, 2023
Insulin Pumps Market Research Report Information By Type (Smart Insulin Pumps, Traditional Insulin Pumps, and Disposable Insulin Pumps), By Accessories (Insulin Reservoirs, Infusion Sets and Infusion Set Insertion Devices), By Application (Type I Diabetes and Type II Diabetes), By End User (Hospitals and Clinics, Home Care, and Laboratories), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
The insulin pump market is expected to grow significantly in the coming years, driven by the growing demand for continuous glucose monitoring (CGM). The global market was valued at USD 4.1 billion in 2022 and is projected to reach USD 14.99 billion by 2032, at a CAGR of 15.50%.
The growth of the market is being driven by several factors, including the increasing prevalence of diabetes, especially type 1 diabetes, the rising adoption of CGM, and the technological advancements in insulin pumps.
Insulin pumps are devices that deliver insulin automatically. Insulin pumps can be used to deliver insulin continuously or on demand.
The technological advancements in insulin pumps have made them more user-friendly and reliable. These advancements include the use of smaller and more durable pumps, the development of wireless pumps, and the integration of CGM with insulin pumps.
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Competitive Outlook
Some of the Major key vendors of insulin pumps market include
- Insulet Corporation
- Dickinson and Company
- Hoffmann-La Roche AG
- Abbott Laboratories
- Braun Melsungen AG
- Medtronic
- Becton
- Sanofi
Market Segmentation
The insulin Pumps Market has been segmented into type, application and end-user.
Based on the type, the market has been segmented into Traditional Insulin Pumps, Smart Insulin Pumps and Disposable Insulin Pumps.
Based on the application, the market has been segmented into Type I Diabetes and Type II Diabetes
Based on the end-user, the market has been segmented into Hospitals and Clinics, Home Care and Laboratories.
Regional Overview
According to MRFR’s insulin pump market report, North America is a healthcare pioneer and the largest market for insulin pumps. The North American insulin pump market is constantly expanding due to the availability of world-class healthcare infrastructure, modern medical facilities, and the quick acceptance of innovative products and treatments. This region is home to a slew of elite players, which encourages innovation and new product development. Other variables that contribute to market expansion include the availability of competent health professionals, product availability, and high buying power. North America had the biggest market share and generated the most revenue in the insulin pump industry in 2016.
Browse In-depth Market Research Report (104 Pages) on Insulin Pumps: https://www.marketresearchfuture.com/reports/insulin-pump-market-1637
Asia-Pacific is predicted to be the fastest-growing region in the insulin pumps market, owing to rising healthcare expenditures and a quickly developing healthcare sector. Government backing is expanding, and the healthcare sector is improving. These are two important elements that might help the APAC market’s rise. Furthermore, the rising incidence as a result of the growing elderly population is another important factor that would drive the market forward throughout the forecast period.
In the insulin pump industry, Europe is likely to gain a large market share. In order to drive market growth, companies must increase their spending in ongoing research and product development. Changes are being implemented by health experts and manufacturing organizations’ in order to deliver the most efficient solutions to the market. The United Kingdom and Germany are set to play a big role in expanding the insulin pump industry.
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