Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the insulin pumps market provides in-depth analysis of
segments and sub-segments in the global as well as regional insulin pumps
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional insulin pumps market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of global insulin pumps market. According to the
report, the global insulin pumps market is projected to grow at a CAGR of
around 14% over the forecast period of 2022-2028.
The revenue generated by the insulin
pumps market was over USD 5 billion in 2022 and is expected to reach nearly USD
8 billion in 2028 and is expected to grow with a CAGR of around 14% till 2028.
Insulin pumps are portable devices attached to the body that continuously
deliver amounts of rapid or short acting insulin through a catheter placed
under the skin. These are better alternative to insulin injections as they
reduce the need for multiple insulin injections per day and give the user
increased ability to control blood glucose levels. Approximately 1 in 1,000
people with diabetes wear an insulin pump. An insulin pump consists of the main
pump unit which holds an insulin reservoir which typically holds between 176
and 300 units of insulin. The reservoir is attached to a long, thin piece of
tubing with a needle or cannula at one end. The tubing and the bit at the end
are called the infusion set. Insulin pump therapy is also referred to as
continuous subcutaneous insulin infusion therapy.
China was hit by an outbreak of a
highly transmissible, new coronavirus strain that caused severe illness and was
dubbed SARS-CoV-2 around the start of 2020. To combat the spread of the
coronavirus outbreak, most countries adopted various degrees of lockdowns one
after the other. People's everyday lives changed dramatically as a result of
the lockdown and following social distancing techniques, which in some
circumstances meant utter isolation. Chronically ill people may have had
limited access to the healthcare system, as well as medical supplies and equipment
during the pandemic due to physical restrictions. Also, the availability of
insulin pumps was impacted due to supply chain disruptions.
Rise in base of geriatric
population, increasing incidence rates of diabetes worldwide, benefits of
insulin pumps over injections such as improved glucose control, convenience,
and flexibility; growing awareness among the population, and increasing
preference for non-invasive methods are expected to drive the market at a
significant growth rate in the coming years. However, skin infection, weight
gain and high costs associated with these devices are some of the restraining
factors which could hinder the market. New opportunities are expected to arise
as new technological advancements are expected to make insulin pumps more
efficient in working and more user friendly which in turn is expected to bring
new opportunities.
The countries covered in the North
America region include the U.S., Canada, and Mexico; while Asia-Pacific
includes China, Japan, India, South Korea, Malaysia, and among others.
Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the
European region. The U.S. drives the growth in the North America region as it
is the largest market in the region. The Asia-pacific region offers a
substantial potential for the market growth owing to rapid growth in markets
such as India and China. The geriatric
population in North America is increasing along with growth in people suffering
from chronic diseases such as diabetes. Furthermore, high per capita health
spending and easy availability of insulin pumps is also expected to boost the
growth of the market. Prevalence of diabetes in populated countries such as
India and China drives the growth of market in Asia-Pacific.
The report on global insulin pumps
market covers segments such as product, and distribution channel. On the basis
of product, the sub-markets include insulin pumps, and insulin pump supplies
& accessories. On the basis of distribution channel, the sub-markets
include hospital pharmacy, retail pharmacy, online, and others.
The report provides profiles of
the companies in the market such as Medtronic Plc, SOOIL Developments Co.,
Tandem Diabetes Care, Inc., F. Hoffmann-La Roche Ltd., Ypsomed AG, Valeritas,
Inc., Cellnovo Group SA. , JingasuDelfu Co., Ltd., CVS Health (Aetna
Inc.), and Others.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of insulin pumps market. Moreover, the study highlights current market
trends and provides forecast from 2022-2028. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.
Please Choose One of them.