The insulin pumps market is projected to grow at a rate of 9.30% in terms of value, from 2022 to reach USD 10.25 Billion by 2032. The high demand of insulin pumps in the global market is attributed to the increasing prevalence of diabetes. The factors contributing to the growing number of diabetic patients globally include a growing number of obese as well as geriatric population, changes in lifestyles, and sufficient healthcare services. Advancements in technology and favorable government policies have also fueled the growth of this market.
It has been projected that 400,000 patients with type-1 diabetes in the U.S. are making use of insulin pumps. A study by T1D Exchange Clinic Registry showed that 60.0% of the 16,061 pediatric and adult patients with type-1 diabetes used an insulin pump. The number of insulin pump users is anticipated to grow, as this technology advancements have considerably enhanced the diabetes management for children and adults by providing better glycemic control, reducing severe hypoglycemic episodes, and better life-quality. As CSII gain popularity, the need to manage the care of inpatients under insulin pump therapy would increase amongst health care providers.
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Diabetes and its complications, societal costs, and deaths have a huge and rapidly growing impact across the globe. In 2020: approximately 463 million adults (20-79 years) were living with diabetes, and by 2045, this is expected to rise to 700 million. 79% of adults with diabetes were living in low- and middle-income countries.
Novo Nordisk is working on manufacturing a very first once-weekly long-acting insulin (LAI287), which is currently in phase 2. The insulin is indicated for both type-1 and type-2 diabetes patients.
Key Coverage of the Report
- Region and country wise statistics of insulin pumps from the period 2023-2032. While 2021 & 2022 have been utilized as historical data, 2023 is considered the base year. 2020-2032 have been derived as forecasts.
- Estimation of market size along with historic and forecasted trend analysis.
- Various types of products have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Share of individual end-users has been estimated.
- Healthcare Regulatory framework of each region.
- Regional up-coming outlook.
- Status of on-going clinical trials and developments.
- Regional prevalence of insulin pumps has been mapped.
- Regional Competitors Pricing Strategy
- Demand and Supply GAP Analysis
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Insulin Pumps Market
- The market is primarily driven by consumers falling under the developing regions cohort. The rising cases of diabetes is a major driving factor for the manufacturers. Companies can tap into these unique market characteristics by building a robust distribution system based on retail sales.
- The annual direct healthcare costs of Diabetes across the globe, for people in the age group 20–79, are estimated to be as much as USD 286 billion. Such a monumental increase in the prevalence of diabetes will also propel the demand for insulin, which in turn will positively affect the market growth.
- There has been a growing use of portable instruments such as insulin pumps among patients for convenient management of diabetes.
- According to a report by the Centers for Disease Control and Prevention (CDC), one in three individuals in the U.S. is expected to have diabetes by 2050.
- Growing awareness pertaining to the advantages of insulin pump systems over traditional injections, meters, and other glucose monitors is causative of the growth of the market in the developed nations.
- Germany is one country to have a number of high Diabetes diagnosed patients. About 6.4 million out of a total of 65.6 million insures were found to have been diagnosed with diabetes in 2009 in Germany.
- In September 2020, Insulet Corporation, a key market player and a leader in tubeless insulin pump technology with its Omnipod® Insulin Management System, announced the receiving of clearance from the U.S. FDA for an Alternate Controller Enabled Infusion Pump (ACE Pump). This would enable Insulet to market its Omnipod DASH™ Insulin Management System (Omnipod DASH System) as an integrated insulin pump (Omnipod DASH ACE Pump).
Companies considered and profiled in this market study
Animus Corporation, Asante, Insulet Corporation, Nipro Diagnostic Inc., Cellnovo Ltd., Ypsomed Group, Medtronics Inc., Tandem Diabetes Care Inc., Roche, and Valeritas, among others.
- The valuation for the insulin pumps market was USD 5,002.0 Million in 2020, and it is expected to reach USD 10.25 Billion by 2032.
- By product type, disposable pumps are projected to witness a significant growth rate in the period 2020-2032. Disposable pumps are smaller in size and can be attached directly to the surface of the skin. These pumps are wirelessly controlled with the aid of a separate device, which enables programming of insulin delivery for meals from the pump.
- By accessories, insulin cartridges are expected to experience the fastest growth rate in the forecast period. The high growth of these type of accessories is driven by high demand for traditional insulin pumps.
- By end-users, homecare settings is estimated to witness the fastest CAGR in the period 2020-2032, owing to the growing awareness pertaining to the use of insulin pumps and the growing acceptance of these products in homes due to their convenient operation.
- The market in Asia Pacific is estimated to witness a CAGR of 10.9% in the forecast period owing to growing awareness pertaining to medical treatments and care, rising health care sector, and an increase in R&D activities. Further, a rapid increase in the diabetic population and increasing adoption of insulin administration are driving the market demand in the region.
- The market in Europe is likely to grow at a rate of 9.1% in the forecast period.
- High-costs associated with the availing of these pumps may hamper the growth of the market in the forecast period.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this study,have segmented the global insulin pumps market on the basis of product type, accessories, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2023-2032)
- Traditional Insulin Pump
- Disposable Insulin Pump
Accessories Outlook (Revenue, USD Million; 2023-2032)
- Insulin Set Insertion Devices
- Insulin Cartridges
End-User Outlook (Revenue, USD Million; 2023-2032)
- Hospitals & Clinics
- Homecare settings
Regional Outlook (Revenue, USD Million; 2023-2032)
- North America
- Asia Pacific
- Latin America
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