The global “Insulin Pump Market Share” 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.
Drivers & Restraints-
Rising Technological Developments in Drug Delivery Systems to Propel Growth
New products are being launched by renowned companies nowadays owing to the advent of technological developments in the field of drug delivery systems. It is likely to drive the insulin pumps market growth in the near future. In addition to that, the manufacturers are persistently aiming to focus on upsurging the adoption and penetration of insulin pumps by creating awareness and reimbursement. It is mainly done in patients living with type 2 diabetes. However, many patients across the globe are dependent on other devices, such as insulin pens and injections, other than insulin pumps. It may hinder the growth of the market.
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The report covers:
- Global Insulin Pumps Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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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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
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.
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
- U.S.
- Canada
TOC Continued…
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Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Insulin Pumps Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
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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