Zion Market Research has published a new report titled “Insulin Patch Pump Market by Type of Insulin (Basal, Bolus, Basal-Bolus); Model Type (Disposable and Reusable); by End User (Hospitals, Private Clinics, Retail Pharmacies, Online Pharmacies and Other End Users) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”. According to the report, global demand for insulin patch pump market was valued at approximately USD 754.3 Million in 2019, and is expected to generate revenue of around USD 1,575.9 Million by end of 2026, growing at a CAGR of around 11.1% between 2020 and 2026.
For transferring the insulin a device is used that is known as insulin patch pump. Owing to the presence of the adhesive, the insulin patch pump gets directly attached to the body. The presence of the adhesive avoids the requirement of the infusion set and tubing for attaching the pump to the body. Keeping blood sugar levels in diabetic patients in a safe range is extremely important in order to prevent long term diabetes associated complications like kidney failure, blindness and heart disease. Insulin pumps are small, computerized devices that mimic the way the human pancreas works by delivering small doses of short acting insulin continuously (basal rate). Insulin patch pumps are worn directly on the body and have a reservoir, pumping mechanism, and infusion set inside a small case. Patch pumps are controlled wirelessly by a separate device that allows programming of insulin delivery for meals from the patch.
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Increasing prevalence of diabetes, rapid technology advancements coupled with rising awareness about diabetes related complications and risks is anticipated to fuel the market growth. Also, there is increased awareness among the patients about the technological advancements that are made in this field which is making the life of the diabetic patients easier thus fuelling the growth of the market. Another factor that is propelling the growth of the market is the increased disposable income of the people. The marketing of the products by the market players also triggers the growth of the market. The factors that will limit the growth of the market are the complexity that is involved in the working of the machine, the complexity in the steps that need to be followed, the increased chances of making mistakes negatively affects the growth of the market. Other factors that restrain the growth of the market are when the device is attached to the skin with the help of adhesive cause irritation and swelling of the skin..
The global market for the insulin patch pump is fragmented into the type of insulin, model type, and the end-user industry. Based on the type of the insulin, the global market is segregated into bolus, basal, and basal-bolus. Basal-bolus combination segment dominated the market in 2019 with largest revenue share. Whereas basal insulin type segment is projected to register rapid growth in the coming years due to increasing adoption.
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Based on the type of the model, the market is categorized into disposable and reusable. Reusable type segment dominated the market in 2019 and is estimated to hold its dominance in the coming years. High adoption rate due to reusability and increasing number of new product launches are major factors boosting the growth of reusable insulin patch pump segment.
Based on the end-user industry, the market is divided into hospitals, private clinics, retail pharmacies, online pharmacies and others. Hospitals segment was the leading segment in 2019 and online pharmacies segment will register rapid growth in the coming years.
North America held largest revenue share of the global insulin patch pump market in 2019. This large share is attributed to strong presence of key market players and easy availability of branded products in this region as well as increasing diabetes prevalence, increasing health awareness and favorable reimbursement policies. Europe was second leading regional market. Presence of developed infrastructure and high adoption of technologically advanced products are factors attributing to the market growth in this region. Asia Pacific region is estimated to be rapidly growing regional market for insulin patch pump due to increasing aging population, increasing diabetes prevalence and increasing health awareness among people in emerging markets like China and India. Moderate growth is forecasted in Latin America and Middle East and Africa region over the forecast period.
Major players in insulin patch pump market are Roche Diagnostics; Medtronic Plc; Valeritus; Insulet Corporation; Cellnovo Ltd; and CeQur among others.
The report segments of global insulin patch pump market are as follows:
Global Insulin Patch Pump Market: Type of Insulin
Global Insulin Patch Pump Market: By Model Type
Global Insulin Patch Pump Market: By End User
- Private Clinics
- Retail Pharmacies
- Online Pharmacies
- Other End Users
Global Insulin Patch Pump Market: By Region
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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