Insulin Pump Market Share, Trends and Growth Analysis By Type (Traditional Insulin Pumps, Smart Insulin Pumps and Disposable Insulin Pumps), Accessories (Insulin Reservoirs, Infusion Sets and Infusion Set Insertion Devices), Application (Type I Diabetes and Type II Diabetes), End User (Hospitals and Clinics, Home Care, Laboratories) and Region (North America, Europe, Asia-Pacific and Middle East & Africa) – Global Forecast till 2023
Insulin Pump Market Overview
Diabetic patients require regular insulin shots and the user-friendly nature of insulin pumps helps them to control their blood glucose level. A new report on the global insulin pump market, published by Market Research Future (MRFR), estimates that this insulin pumps market size could see expansion at 8.4% CAGR by 2023. In terms of value, the market can be worth USD 8520.9 Million by the end of the forecast period.
The global insulin pump market could benefit from its user-friendly nature. The innovative glucose sensors can observe and forecast a patient’s blood glucose levels. Research & development (R&D) in medical science has resulted in coordination of two technologies, from sensor-augmented insulin pumps and sensor-driven insulin pumps to a completely automated, independent sensing and delivery system. Other important factors supporting the market growth include growing prevalence of diabetes over the world, surging demand for insulin pumps, increasing consumption of junk food, and increasing adoption of sedentary lifestyle.
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Insulin Pump Market Segmentation
The global insulin pump market segmentation covers end-users and types.
Based on the end-users, this market has been segmented into home care, hospital & clinics, and laboratories. During the forecast period, the home care segment can have the fastest growth at 8.9% CAGR.
By type, the market has been segmented into disposable insulin pump and traditional insulin pump. Holding the largest share, the traditional insulin pump segment can be worth USD 4587.5 Mn by 2023.
Insulin Pump Market Regional Insights
A geographical outlining of the global insulin pump market encompasses North America, Europe, Asia Pacific, and the Middle East & Africa (MEA).
By holding the largest share in the global global insulin pump market, North America can dominate the market throughout the review period due to growing prevalence of diabetes in the region. Other factors facilitating the market growth in this region include sedentary lifestyle of consumers, technological advancement, high consumption of junk food, availability of advanced medical facilities, increasing diabetes, as well as, obesity among consumers, and the presence of some important market players in the USA. After the USA, Canada is another notable country-specific market in this region.
In Europe, the market can grow during the forecast period due to technological advancement and the availability of advanced medical facilities. In both these aspects, Europe is second only to North America. Many significant market players are based in Europe. The cardinal country-specific markets in this region include France, Germany, Italy, Spain, and the UK.
During the forecast period, the insulin pump market in the Asia Pacific region can grow due to the growing prevalence of diabetes in countries like China, India, Indonesia, Malaysia, and Taiwan. In this region, the market is growing due to improving medical facilities in China and India. Australia, Japan, and South Korea are also three other important country-specific markets. A spur in disposable income in the region, along with the availability of better medical facilities and growing healthcare awareness, is all set to change the regional market dynamics.
The MEA region holds the smallest market share due to the less emphasis on improving healthcare, limited availability of technology, lack of awareness, presence of stringent government policies, and poor economies. The countries falling in the Middle East segment of this region have better medical facilities compared to the countries in the African segment. The focal country-specific markets in this region are Egypt, Saudi Arabia, and UAE.
Insulin Pump Market Key Players
Prominent players in the global insulin pumps industry include Abbott Laboratories (USA), Becton Dickinson (USA), Braun Melsungen AG (Germany), F. Hoffmann-La Roche AG (Switzerland), Insulet Corporation (USA), Medtronics (Ireland), Sanofi (France), and others.
Table of Content
1 Report Prologue
2 Insulin Pumps Market Introduction
2.1 Research Objective
2.2 Assumptions & Limitations
2.2.3 Market Structure
3 Insulin Pumps Market Research Methodology
3.1 Insulin Pumps Market Primary Research
3.2 Insulin Pumps Market Secondary Research
4 Insulin Pumps Market Dynamics
4.1 Insulin Pumps Market Drivers
4.1.1 Insulin Pumps Market Increasing Prevalence Of Diabetes
4.1.2 Insulin Pumps Market Rise In Global Obesity Population
4.1.3 Technological Advancements In Drug Delivery Devices
4.1.4 Growing Global Awareness Of Diabetic Care
4.2.1 Risks And Disadvantages Associated With Insulin Pumps
4.2.2 High Costs Of Insulin And Insulin Pumps
5 Insulin Pumps Market Factor Analysis
5.1 Porters Five Forces
5.2 Bargaining Power Of Buyers
5.3 Bargaining Power Of Suppliers
5.4 The Threat Of New Entrants
5.6 Threat Of Substitutes
6 Global Insulin Pump Market, by Types
6.1 Traditional Insulin Pumps
6.2 Disposable Insulin Pumps
6.2 Smart Insulin Pumps
7 Global Insulin Pump Market, by Accessories
7.1 Insulin Reservoirs
7.2 Infusion Sets
7.2 Infusion Set Insertion Devices
8 Global Insulin Pump Market, by Application
8.1 Insulin Pumps Market Type I Diabetes
8.2 Insulin Pumps Market Type II Diabetes
9 Global Insulin Pump Market, by End Users
7.1 Insulin Pumps Market Introduction
7.2 Insulin Pumps Market Hospitals And Clinics
7.3 Insulin Pumps Market Home Care
7.4 Insulin Pumps Market Laboratories
10 Global Insulin Pump Market, by Region
8.1 North America
8.2.6 Rest Of Europe
8.3.4 South Korea
8.3.6 Rest Of Asia-Pacific
8.4 Middle East & Africa
8.4.2 Saudi Arabia
8.4.4 Rest Of Middle East & Africa
11 Insulin Pumps Market Competitive Landscape
12 Company Profiles
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