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Insulin Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 144 Pages
  • June 2023
  • Region: Global
  • IMARC Group
  • ID: 5530349

Quick Summary:

In today's digitally-driven, fast-paced world, the global insulin pumps market offers immense opportunities for growth. The prevalence of diabetes is experiencing an alarming increase worldwide, leading to a direct surge in demand for revolutionary medical devices such as insulin pumps. These pumps are integral to diabetes management, delivering controlled doses of insulin to effectively manage blood glucose levels for individuals suffering from type 1 and 2 diabetes. Their convenience and flexibility make them an indispensable tool in the modern world.

The increasing health consciousness and the incidences of diabetes, driven by the modernization of economies and changing dietary habits, further accelerate market growth. Simultaneously, the constant progress in the field of healthcare technologies - including the development of precise glucose sensors and blood monitoring devices - is enhancing the need for efficient insulin pumps. With rising per capita expenditure on healthcare services and a vibrant landscape of research and development aimed at optimizing insulin pump functionality, the insulin pumps market is poised for significant expansion.

The global insulin pumps market size reached US$ 5.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 7.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.

Insulin pumps are small computerized medical devices that can be clipped on to a belt, pocket or hidden under the clothes. The pump is used to deliver controlled doses of insulin inside the body at regular intervals, depending upon the consumer's basal and bolus rate, to control the rise in blood glucose levels. It operates through a needle and a flexible catheter that is used to insert insulin directly into the fatty tissue, which is then taped and secured in place. Insulin pumps assist individuals suffering from type 1 and type 2 diabetes by providing them flexibility in food options and eating schedules and reduces the number of injection administrations.

The increasing prevalence of diabetes across the globe and rising health awareness are the key factors for market growth. Modernization of economies has significantly enhanced the occurrence of several lifestyle diseases, especially diabetes. This is further augmented by changing dietary preferences and dependency on ready-to-eat packaged food containing artificial ingredients and preservatives. Since diabetes can trigger the occurrence of other chronic conditions such as kidney failure, stroke, paralysis and blindness, manufacturers are increasingly emphasizing on creating adaptive and affordable devices. Additionally, due to the development of highly accurate glucose sensors and blood monitoring devices, the demand for efficient insulin pumps has also increased. Furthermore, factors such as rising per capita expenditure on healthcare services and increasing research and development for improving the functioning of insulin pumps have also contributed to market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global insulin pumps market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and distribution channel.

Breakup by Product Type:

  • Insulin Pumps
  • Tethered Pumps
  • Disposable/Patch Insulin Pumps
  • Insulin Pump Supplies and Accessories
  • Infusion Set Insertion Devices
  • Insulin Reservoirs/Cartridges

Breakup by Distribution Channel:

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Sales
  • Diabetes Clinics/ Centers
  • Others

Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Animus Corp., Medtronics Inc., Insulet Corp., Roche Diagnostics, Cellnovo Ltd., Asante, Nipro Diagnostic Inc., Tandem Diabetes Care Inc., Sooil Development Co. Ltd., Ypsomed, etc.

Key Questions Answered in This Report

1. What was the size of the global insulin pumps market in 2022?
2. What is the expected growth rate of the global insulin pumps market during 2023-2028?
3. What are the key factors driving the global insulin pumps market?
4. What has been the impact of COVID-19 on the global insulin pumps market?
5. What is the breakup of the global insulin pumps market based on the product type?
6. What is the breakup of the global insulin pumps market based on the distribution channel?
7. What are the key regions in the global insulin pumps market?
8. Who are the key players/companies in the global insulin pumps market?
Frequently Asked Questions about the Global Insulin Pumps Market

What is the estimated value of the Global Insulin Pumps Market?

The Global Insulin Pumps Market was estimated to be valued at $5 Billion in 2022.

What is the growth rate of the Global Insulin Pumps Market?

The growth rate of the Global Insulin Pumps Market is 6.3%, with an estimated value of $7.2 Billion by 2028.

What is the forecasted size of the Global Insulin Pumps Market?

The Global Insulin Pumps Market is estimated to be worth $7.2 Billion by 2028.

Who are the key companies in the Global Insulin Pumps Market?

Key companies in the Global Insulin Pumps Market include Animus Corp., Medtronics Inc., Insulet Corp., Roche Diagnostics, Cellnovo Ltd., Asante, Nipro Diagnostic Inc., Tandem Diabetes Care Inc., Sooil Development Co. Ltd. and Ypsomed.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Insulin Pumps Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product Type
5.5 Market Breakup by Distribution Channel
5.6 Market Breakup by Region
5.7 Market Forecast
6 Market Breakup by Product Type
6.1 Insulin Pumps
6.1.1 Market Trends
6.1.2 Market Breakup by Type
6.1.2.1 Tethered Pumps
6.1.2.1.1 Market Trends
6.1.2.1.2 Market Forecast
6.1.2.2 Disposable/Patch Insulin Pumps
6.1.2.2.1 Market Trends
6.1.2.2.2 Market Forecast
6.1.3 Market Forecast
6.2 Insulin Pump Supplies and Accessories
6.2.1 Market Trends
6.2.2 Market Breakup by Type
6.2.2.1 Insulin Reservoirs/Cartridges
6.2.2.1.1 Market Trends
6.2.2.1.2 Market Forecast
6.2.2.2 Infusion Set Insertion Devices
6.2.2.2.1 Market Trends
6.2.2.2.2 Market Forecast
6.2.3 Market Forecast
7 Market Breakup by Distribution Channel
7.1 Hospital Pharmacy
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Retail Pharmacy
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Online Sales
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Diabetes Clinics/ Centers
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Asia Pacific
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Animus Corp.
13.3.2 Medtronics Inc.
13.3.3 Insulet Corp.
13.3.4 Roche Diagnostics
13.3.5 Cellnovo Ltd.
13.3.6 Asante
13.3.7 Nipro Diagnostic Inc.
13.3.8 Tandem Diabetes Care Inc.
13.3.9 Sooil Development Co. Ltd.
13.3.10 Ypsomed
List of Figures
Figure 1: Global: Insulin Pumps Market: Major Drivers and Challenges
Figure 2: Global: Insulin Pumps Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Insulin Pumps Market: Breakup by Product Type (in %), 2022
Figure 4: Global: Insulin Pumps Market: Breakup by Distribution Channel (in %), 2022
Figure 5: Global: Insulin Pumps Market: Breakup by Region (in %), 2022
Figure 6: Global: Insulin Pumps Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Insulin Pumps Industry: SWOT Analysis
Figure 8: Global: Insulin Pumps Industry: Value Chain Analysis
Figure 9: Global: Insulin Pumps Industry: Porter’s Five Forces Analysis
Figure 10: Global: Insulin Pumps Market: Breakup by Type (in %), 2022
Figure 11: Global: Insulin Pumps (Tethered Pumps) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Insulin Pumps (Tethered Pumps) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Insulin Pumps (Disposable/Patch Insulin Pumps) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Insulin Pumps (Disposable/Patch Insulin Pumps) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Insulin Pumps (Insulin Pump Supplies and Accessories) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Insulin Pump Supplies and Accessories Market: Breakup by Type (in %), 2022
Figure 17: Global: Insulin Pump Supplies and Accessories (Insulin Reservoirs/Cartridges) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Insulin Pump Supplies and Accessories (Insulin Reservoirs/Cartridges) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Insulin Pump Supplies and Accessories (Infusion Set Insertion Devices) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Insulin Pump Supplies and Accessories (Infusion Set Insertion Devices) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Insulin Pumps (Insulin Pump Supplies and Accessories) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Insulin Pumps Market: Sales through Hospital Pharmacy (in Million US$), 2017 & 2022
Figure 23: Global: Insulin Pumps Market Forecast: Sales through Hospital Pharmacy (in Million US$), 2023-2028
Figure 24: Global: Insulin Pumps Market: Sales through Retail Pharmacy (in Million US$), 2017 & 2022
Figure 25: Global: Insulin Pumps Market Forecast: Sales through Retail Pharmacy (in Million US$), 2023-2028
Figure 26: Global: Insulin Pumps Market: Online Sales (in Million US$), 2017 & 2022
Figure 27: Global: Insulin Pumps Market Forecast: Online Sales (in Million US$), 2023-2028
Figure 28: Global: Insulin Pumps Market: Sales through Diabetes Clinics/Centers (in Million US$), 2017 & 2022
Figure 29: Global: Insulin Pumps Market Forecast: Sales through Diabetes Clinics/Centers (in Million US$), 2023-2028
Figure 30: Global: Insulin Pumps Market: Sales through Other Distribution Channels (in Million US$), 2017 & 2022
Figure 31: Global: Insulin Pumps Market Forecast: Sales through Other Distribution Channels (in Million US$), 2023-2028
Figure 32: North America: Insulin Pumps Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: North America: Insulin Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Europe: Insulin Pumps Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Europe: Insulin Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia Pacific: Insulin Pumps Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia Pacific: Insulin Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Middle East and Africa: Insulin Pumps Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Middle East and Africa: Insulin Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Latin America: Insulin Pumps Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Latin America: Insulin Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
List of Tables
Table 1: Global: Insulin Pumps Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Insulin Pumps Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: Global: Insulin Pumps Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 4: Global: Insulin Pumps Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Insulin Pumps Market Structure
Table 6: Global: Insulin Pumps Market: Key Players

Companies Mentioned

  • Animus Corp.
  • Medtronics Inc.
  • Insulet Corp.
  • Roche Diagnostics
  • Cellnovo Ltd.
  • Asante
  • Nipro Diagnostic Inc.
  • Tandem Diabetes Care Inc.
  • Sooil Development Co. Ltd.
  • Ypsomed

Methodology

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