The global insulin pump market size is projected to reach over US$ 13.37 billion by 2030 from at US$ 3.8 billion in 2020, growing at a CAGR of 13.5% from 2021 to 2030.
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The global insulin pump market is driven by various factors such as rising prevalence of diabetes among the population, rising consumer expenditure on healthcare, rising demand for innovative drug delivery devices, and constant investments in the development of innovative and convenient drug delivery solutions. According to the International Diabetes Federation, the global diabetic population is expected to reach at 552 million by 2030.
The diabetic patients are required to regularly monitor their blood glucose levels and take regular insulin shots to control diabetes. The alarming rise in the diabetic population owing to the unhealthy food habits and rising consumption of various drinks that contains sugar. Moreover, the increasing penetration of the retail pharmacies and rising awareness regarding the availability of the insulin pumps is exponentially fostering the demand for the insulin pumps across the globe.
- Based on the pump type, the patch pump is estimated to be the most opportunistic segment during the forecast period. This is due to the rising adoption of the patch pumps as it offers convenience and easy attachment to the skin surface and efficient drug delivery. It is gaining popularity among the patients owing to its compact size.
- Based on the accessories, the reservoirs segment is expected to be the fastest-growing segment during the forecast period owing to the rising adoption of the tethered insulin among the diabetic population. The capacity of the reservoirs is around 300 doses that can go for 3 days is offering improved conveniences.
- Based on the end user, the homecare segment is expected to grow at the fastest CAGR. The increasing penetration of the online and the offline retail pharmacies across the globe is facilitating easy availability of the insulin pumps and the increased awareness regarding the insulin pumps is fueling the growth of the homecare
- North America dominated the global insulin pump market in 2020. North American nations like the US and Canada has increased presence of highly aware population that significantly spends on the healthcare products.
- Asia Pacific is expected to be the most opportunistic market during the forecast period. The rising prevalence of diabetes along with the surging awareness about the benefits of the insulin pumps is boosting the demand.
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OBJECTIVES OF THE STUDY
- To analyze and forecast the Insulin Pump market, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global Insulin Pump market on the product type, end-use and other segments
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Insulin Pump market
- Market estimate for 2021
- Average selling price (ASP) per region for specific product type
- Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
- Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
- National government documents, statistical databases
- News articles, press releases, and webcasts specific to companies operating in the market
- Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
- Determination of market penetration by country
Major Players Covered in this Report
The updated market research report on Insulin Pump market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Segments Covered in the Report
By Pump Type
- Tethered Pump
- Patch Pump
- Insulin Set Insertion Devices
- Insulin Reservoir
By Disease Indication
- Type 1 Diabetes
- Type 2 Diabetes
By End User
- North America
- Asia Pacific
- South Korea
- Rest of the World
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