The global insulin pumps market size reached US$ 5.3 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 8.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2023-2032.
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.
2. What is the expected growth rate of the global insulin pumps market during 2024-2032?
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?
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 2024-2032. The 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 EOFlow Co. Ltd., Insulet Corp., Medtronic plc, MicroPort Scientific Corporation., Microtech Medical, Roche Diabetes Care Limited, Sooil Development Co. Ltd., Tandem Diabetes Care Inc., Terumo Europe NV (Terumo Corporation), Ypsomed, etc.
Key Questions Answered in This Report
1. What was the size of the global insulin pumps market in 2023?2. What is the expected growth rate of the global insulin pumps market during 2024-2032?
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?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Insulin Pumps Market
6 Market Breakup by Product Type
7 Market Breakup by Distribution Channel
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- EOFlow Co. Ltd.
- Insulet Corp.
- Medtronic plc
- MicroPort Scientific Corporation.
- Microtech Medical
- Roche Diabetes Care Limited
- Sooil Development Co. Ltd.
- Tandem Diabetes Care Inc.
- Terumo Europe NV (Terumo Corporation)
- Ypsomed
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 5.3 Billion |
| Forecasted Market Value ( USD | $ 8.6 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
