A recent report published by Infinium Global Research on the insulin pumps market provides an 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, forecasts, and dollar values of the global insulin pumps market. According to the report, the global insulin pumps market is projected to grow at a CAGR of 14% over the forecast period of 2022-2028.

 Market Insight

The revenue generated by the insulin pumps market was approximately USD 5 billion in 2022 and is expected to reach approximately USD 8 billion in 2028. and is expected to grow with a CAGR of more than 14.5% by 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 alternatives to insulin injections as they reduce the need for multiple insulin injections per day and give the user an 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 that 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.

Rise in base of the 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.

Rise in base of the 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. Furthermore, high per capita health spending and easy availability of insulin pumps are also expected to boost the growth of the market. The prevalence of diabetes in populated countries such as India and China drives the growth of the market in Asia-Pacific.

Segment Covered

The report on the global insulin pumps market covers segments such as product and distribution channels. On the basis of product, the sub-markets include insulin pumps, and insulin pump supplies & accessories. On the basis of distribution channels, the sub-markets include hospital pharmacy, retail pharmacy, and sales and diabetes.

Companies Profiled:

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., Jiangsu Delfu Co. Ltd, Cellnovo Group SA., JingasuDelfu Co., Ltd., and Others.

Report Highlights:

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 the insulin pumps market. Moreover, the study highlights current market trends and provides forecasts for 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.