New York, USA, Oct. 26, 2022 (GLOBE NEWSWIRE) -- The Global Insulin Infusion Pumps Market to Surge at a Significant CAGR of 8.69% by 2027, Assesses DelveInsight
The insulin infusion pumps market is anticipated to prosper as a result of factors including rising sedentary lifestyles, an aging population base that is more susceptible to developing diabetes, and a growing emphasis on enhancing the safety and usability of insulin infusion pumps. These factors are also anticipated to contribute to the insulin infusion market’s appreciable revenue growth throughout the forecast period (2022–2027).
DelveInsight’s Insulin Infusion Pumps Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, insulin infusion pumps market drivers, barriers, and trends, and key insulin infusion pumps companies in the market.
Key Takeaways from the Insulin Infusion Pumps Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global insulin infusion pumps market during the forecast period.
- Notable insulin infusion pumps companies such as F. Hoffmann-La Roche Ltd, Medtronic, Medtrum Technologies Inc., A. Menarini Diagnostic’s s.r.l., IA Collaborative Holdings, LLC, Apex Medical, Insulet Corporation, Ascensia Diabetes Care Holdings AG, Ypsomed AG, Tandem Diabetes Care, Inc., ICU Medical, Inc., SOOIL Developments Co., Ltd., MicroPort Scientific Corporation, Microtec Medical, and several others are currently operating in the insulin infusion pumps market.
- In September 2020, Medtronic received the U.S. Food and Drug Administration (FDA) clearance for its MiniMed 770G system, a new insulin pump system providing smartphone connectivity and an expanded age indication to ages 2 and above.
- In October 2019, Novo Nordisk announced that the U.S. Food and Drug Administration (FDA) had expanded the label for Fiasp® (insulin aspart injection) to be included in insulin infusion pumps to improve glycaemic control in adults with type 1 or type 2 diabetes.
- In February 2019, Tandem Diabetes Care, received U.S. Food and Drug Administration (FDA) approval for its Slim X2 insulin pump that is used for delivering insulin under the skin for children and adults with diabetes.
To read more about the latest highlights related to the insulin infusion pumps market, get a snapshot of the key highlights entailed in the Global Insulin Infusion Pumps Market Report
Insulin Infusion Pumps Overview
An insulin infusion pump is a small, portable medical device that is worn externally, either in the patient’s pocket or on a designated belt and is used to administer insulin for the management of diabetes mellitus.
An insulin pen or a conventional regular injection device is replaced by insulin infusion pumps. The insulin infusion pumps are less painful, more reliable, and less prone to large changes in blood glucose levels than injections. Turning to the use of infusion pumps makes it more convenient for patients because it does not require meal timing to be prepared. Subcutaneous insulin injection is another name for insulin therapy.
Insulin Infusion Pumps Market Insights
North America is anticipated to generate the most revenue in the insulin infusion pumps market globally. This can be attributed to a number of factors in the region, including the presence of a sizable patient pool associated with diabetes, which can also be attributed to an increase in sedentary lifestyle, high consumer awareness regarding new market launches, the local presence of key insulin infusion pumps market players and others.
Moreover, the presence of a sizable user base for insulin infusion pumps combined with manufacturers’ increased focus on releasing new products into the market is anticipated to support the growth of the insulin infusion pumps market in the United States during the forecast period.
To know more about why North America is leading the market growth in the insulin infusion pumps market, get a snapshot of the Insulin Infusion Pumps Market Trends
Insulin Infusion Pumps Market Dynamics
The rising incidence of diabetes, growing public awareness of the disease, and unhealthy lifestyle choices are some notable factors responsible for the insulin infusion pumps market growth. Additionally, a significant driver of the development of insulin infusion pumps is the aging population, which is particularly susceptible to developing diabetes. Moreover, another significant driver of the insulin infusion pumps market expansion is the numerous benefits connected with these devices.
However, the availability of substitute products and the high price of insulin infusion pumps, might serve as restraints to the insulin infusion pumps market growth.
Additionally, due to the implementation of lockdown as necessary precautions to stop the spread of COVID-19 infection, the insulin infusion pumps market experienced a brief period of market growth restraint during the early stages of the pandemic. As a result, the production and supply of insulin infusion pumps was stopped, which ultimately resulted in a global shortage of the device in hospitals and retail pharmacies. Additionally, because diabetes patients had a very high risk of developing COVID, most of them were advised to stay inside as much as possible, contributing to the decline of insulin infusion pumps.
Later on, however, due to some lockdown easing and for the safety of diabetic patients who cannot survive without insulin, the demand for the pumps increased, and the insulin infusion pumps, as well as other necessary medications, started actively being delivered at homes through e-commerce websites. The insulin infusion pumps market has therefore experienced growth during the forecast period of 2022–2027 due to the resumption of activities across industries, including the healthcare sector.
Get a sneak peek at the insulin infusion pumps market dynamics @Insulin Infusion Pumps Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2019–2027 |
| Base Year | 2021 |
| Market CAGR | 8.69% |
| Projected Insulin Infusion Pumps Market Size by 2027 | USD 10.68 Billion |
| Key Insulin Infusion Pumps Companies | F. Hoffmann-La Roche Ltd, Medtronic, Medtrum Technologies Inc., A. Menarini Diagnostic’s s.r.l., IA Collaborative Holdings, LLC, Apex Medical, Insulet Corporation, Ascensia Diabetes Care Holdings AG, Ypsomed AG, Tandem Diabetes Care, Inc., ICU Medical, Inc., SOOIL Developments Co., Ltd., MicroPort Scientific Corporation, Microtec Medical, and others |
Insulin Infusion Pumps Market Segmentation
- Market Segmentation By Product Type: Patch Pump, Tethered Pump and Others
- Market Segmentation By Component Type: Insulin Pump, Infusion Sets, Reservoir
- Market Segmentation By Distribution Channel: Hospitals and Retail Pharmacy, E-Commerce Sites, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the insulin infusion pumps market are set to emerge as the trendsetter explore @Insulin Infusion Pumps Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Insulin Infusion Pumps Market |
| 7 | Insulin Infusion Pumps Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Insulin Infusion Pumps Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the insulin infusion pumps market by 2027? Click to get a snapshot of the Insulin Infusion Pumps Market Research
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
