The global insulin pumps market is expected to reach USD 9.41 Billion by 2027, according to a new report by Reports and Data. Insulin pumps are used for insulin therapy and is used for the treatment of patients with all types of diabetes.
The need for insulin therapy depends upon the balance between insulin resistance and insulin secretion. Patients with type 1 diabetes require insulin treatment permanently unless they receive a whole organ pancreas transplant or an islet. Type 2 diabetes patients require insulin as their beta-cell function lowers over time.
Key companies operating in the global market and profiled in the report include:
Animus Corporation, Asante, Insulet Corporation, Nipro Diagnostic Inc., Cellnovo Ltd., Ypsomed Group, Medtronics Inc., Tandem Diabetes Care Inc., Roche, and Valeritas, among others.
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The report provides a complete coverage of the recent mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others. To offer a clear understanding of the scope of the industry, competitive landscape and different progressive aspects are studied extensively in the report.
The report further offers insights into company overviews, business landscape, production and manufacturing capacity, product portfolio, financial standing, global market position, gross profit margins, SWOT analysis and Porter’s Five Forces analysis for each company. The report also covers feasibility analysis and investment return analysis to offer deeper insights into market landscape and industrial chain.
For the purpose of this report, Reports and Data have segmented the global insulin pumps market on the basis of product type, accessories, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2016-2027)
- Traditional Insulin Pump
- Disposable Insulin Pump
Accessories Outlook (Revenue, USD Million; 2016-2027)
- Insulin Set Insertion Devices
- Insulin Cartridges
End-User Outlook (Revenue, USD Million; 2016-2027)
- Hospitals & Clinics
- Homecare settings
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The report discusses in detail the geographical spread of the market in key regions of the world including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The report studies the region expected to dominate market growth over the forecast period. The report also talks about the key factors such as supply and demand ratio, production and consumption patterns, consumer demands, technological advancement, research activities, and presence of key players that can influence vital parameters such as market size, market trends, market share, and revenue generation in each region.
Regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Further key findings from the report suggest
- By product, traditional insulin pumps dominated the market share in 2018 and is likely to experience a growth rate of 8.9% in the forecast period. The growth of these type of pumps is primarily owing to their better reliability and high availability of the product.
- By accessories, the insulin set insertion device held the largest market share in 2018 and is estimated to witness a growth rate of 9.2% in the forecast period. The market dominance of this insulin pump accessory is attributed to its high usage frequency.
- By end-users, hospitals & clinics dominated the market in 2018 and are projected to have a CAGR of 9.0% in the forecast period. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare facilities, increasing government funding, and rising private sector investments in the healthcare sector.
- North America dominated the market in 2018 and is anticipated to grow at a rate of 8.9% in the period 2019-2027. Rapid technological advancements, increasing prevalence of diabetes, and new product launches by market players, among others, are causative of the high market demand in the region.
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