New York, USA, Feb. 27, 2020 (GLOBE NEWSWIRE) -- A new report published by Research Dive clarifies, the tubeless insulin pump market is set to grow at a CAGR of 23.4% from 2019 to 2026, globally. It will generate a revenue of 2,837.6 million by the end of forecast period. The market has been studied on the basis of components, distribution channel, and region. The report offers detailed insights on drivers & restraints, vital segments, and key market players in the industry. As per our analysts, the increase in diabetes cases is a driving factor, which is fueling the growth of tubeless insulin pump market. The increase in demand for tubeless insulin pump is mainly due to the infections and injuries caused by traditional invasive insulin. It is estimated that the technology advancements in the tubeless insulin pump market would lessen the demand for the traditional invasive insulin. The government, across the globe, have taken an initiative to aware people on how to manage the diabetes issues, which would make a massive impact in the market growth.
Key participants and competitive landscape analysis of Global Tubeless insulin pump Market:
Some of the key market players profiled in the global tubeless insulin market are Medtrum Technologies Inc, Insulet Corporation, Debiotech, Johnson & Johnson, Rosh Holding AG, Cellnovo Group SA, Spring Health Solution Ltd, Veleritas, CeQur SA, and Abbott Diabetes Care among many others. In 2016, a U.S. based pharmaceutical firm, Insulet Corporation and another company named, Eli Lilly & Company signed an agreement for creating a new tubeless Omni pod insulin delivery system for distributing highly concentrated U500 and U200 formulations of insulin. They have implemented several strategies such as mergers, acquisitions, and joint ventures, to develop a strong position in the global market.
Inquire What Technological enhancement and agreements are the most common strategies followed by the market players? https://www.researchdive.com/purchase-enquiry/31
Pods’ Segment to Stay Most Profitable
The components studied in the report are patch/pod, remote, and others. The market size for pods was highest in terms of revenue with $311.4 million in 2018, and is expected to rise at a CAGR of 23.6% by the end of the forecast period. Pod/patch is aided with insulin insertion and insulin reservoirs, for topical distribution. Some emerging market players are transforming such insulin delivery devices with advancements such as wearables, Bluetooth-enabled devices, and closed-loop systems among others. Moreover, rising adoption of patch/pod for easy administration and convenient handling of insulin at suitable time intervals will further lead to greater demand in the upcoming years.
E-commerce to Possess High Investment Opportunities
On the basis of distribution channel, the global tubeless insulin pump market is segmented into hospitals, e-commerce, pharmacies, and others. The ecommerce market for tubeless insulin pump contributed to a revenue of $279.7 million in 2018, and is set to witness a growth of 23.5% CAGR by 2026. This segment is one of the most commonly used channels for the sales of tubeless insulin pumps. E-commerce holds strong growth potential in the tubeless insulin pump market mainly due to the rising number of internet users and increasing internet penetration.
Rising Diabetes Population to Drive the Industry Growth
The market is studied across North America, Europe, Asia-Pacific, and LAMEA on the basis of region. The North America tubeless insulin pump market is expected generate a revenue of $924.5 million by 2026, and is anticipated to rise at a CAGR of 22.3% during the forecast period. Rising population of diabetes patients and growing expenditure on insulin uptake will highly influence the demand for tubeless insulin pumps. U.S. and Canada are predicted to witness a significant increase in the diabetic population over the coming years, which will further drive the market for more investment opportunities in the tubeless insulin pump market during the forecast period.
North America region will have enormous opportunities for the market investors to grow over the coming years: Download Sample Report https://www.researchdive.com/download-sample/31