The global insulin pump market is likely to gain impetus from the ever-increasing prevalence of diabetes reported worldwide. Coupled with this, the rising geriatric population and surging number of people affected by type 1 diabetes would drive the market growth. Fortune Business Insights™ provided this information in a recent report, titled, “Insulin Pump Market Size, Share & Industry Analysis, By Product Type (Pumps (Tethered Pumps, Patch Pumps, and Others), and Consumables), By Disease Indication (Type 1 Diabetes and Type 2 Diabetes), By Distribution Channel (Hospital Pharmacy Retail Pharmacy, and Online Stores), and Regional Forecast, 2020-2027.” The report further states that the insulin pump market size was USD 4.15 billion in 2019 and is projected to reach USD 8.50 billion by 2027, exhibiting a CAGR of 9.4% during the forecast period.
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Leading Players operating in the Insulin Pumps Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Medtronic
- Insulet Corporation
- Hoffmann-La Roche Ltd.
- Tandem Diabetes Care, Inc.
- YPSOMED
- Others
Segment-
Type 2 Diabetes Segment to Grow Remarkably Backed by New Product Launches
In terms of disease indication, the market is bifurcated into type 1 diabetes and type 2 diabetes. Out of these, the type 1 diabetes segment is expected to procure the maximum insulin pumps market share in the coming years. This growth is attributable to the increasing usage of insulin pumps amongst these patients, unlike those living with type 2 diabetes. The Centers of Disease Control and Prevention stated that in 2018, around 1.4 million adults belonging to the age group of 20 years and above living in the U.S. with type 1 diabetes used insulin. But, the type 2 diabetes segment would also showcase a remarkable growth because of the presence of favorable health reimbursement and rising number of novel product launches.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Diabetes – For Key Countries
- Ageing Population – For Key Countries
- Overview of Cost Burden of Diabetes
- Reimbursement Scenario – For Key Countries/Regions
- Technological Advancement in Insulin Pump Market
- New Product Launches
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Global Insulin Pump Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Pumps
- Tethered Pumps
- Patch Pumps
- Others
- Consumables
- Pumps
- Market Analysis, Insights and Forecast – By Disease Indication
- Type 1 Diabetes
- Type 2 Diabetes
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Stores
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Insulin Pump Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Pumps
- Tethered Pumps
- Patch Pumps
- Others
- Consumables
- Pumps
- Market Analysis, Insights and Forecast – By Disease Indication
- Type 1 Diabetes
- Type 2 Diabetes
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Stores
- Market Analysis, Insights and Forecast – By Country
- S.
- Canada
Regional Analysis-
Government Initiatives to Reduce Cost Burdenwill Favor Growth in North America
Based on geography, the market is classified into the Middle East and Africa, Europe, North America, Asia Pacific, and Latin America. Out of these, in 2019, North America generated USD 2.11 billion in terms of insulin pumps and consumables market revenue. Rising number of innovative product launches and high demand for drug delivery devices are the major factors that would drive the market growth in this region. Also, active support of the government of various countries in this region to lower the cost burden of diabetes by supplying patients with insulin pump covered by Medicare would propel market growth.
Reasons to Purchase this Report:
- Comprehensive analysis of the Insulin Pumps Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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KEY QUESTIONS ANSWERED:
- What are the key technological and Insulin Pumps Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Insulin Pumps Market growth?
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