Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "Insulin Patch Pumps Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
Major players in the insulin patch pumps market are Cellnovo, Insulet Corporation, Medtronic PLC., Tandem Diabetes Care Inc., Hoffmann-La-Roche AG, Cequr SA, Animus Corp, Ypsomed, Abbott Laboratories Inc., Becton, Dickinson and Company, Braun Melsungen AG, Sanofi, Eoflow, Johnson & Johnson, Zealand Pharma and Debiotech SA.
The global insulin patch pumps market grew from $1.18 billion in 2022 to $1.28 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The insulin patch pumps market is expected to grow to $1.83 billion in 2027 at a CAGR of 9.3%.
The insulin patch pumps market consist of sales of insulin reservoir, pumping, mechanism and cannula. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
North America was the largest region in the insulin patch pumps market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insulin patch pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising prevalence of diabetes across the globe is expected to drive the growth of the insulin patch pumps market in the forecast period. Diabetes is a major disease around the world, and it is caused due to many reasons by lifestyle and food habits. Insulin patch pumps help in the convenient delivery of insulin directly into the body and many people with diabetes find insulin pumps to be more convenient than insulin injections.
The rising prevalence of diabetes leads to a need for insulin patch pumps. For instance, according to the International Diabetes Federation, in 2021, around 537 million people in the age group between 20 to 79 years are suffering from diabetes and these numbers are estimated to reach 643 million by 2030. In 2021, around 6.7 million people died due to diabetes. Therefore, the rising prevalence of diabetes across the globe will propel the growth of the insulin patch pumps market.
Integration of the advanced technologies in insulin patch pumps is the key trend gaining popularity in the insulin patch pumps market. Insulin patch pumps are being integrated with the advanced technologies such as integration with a smartphone and enabling automation in insulin delivery.
Continuous glucose monitors and traditional insulin pumps are evolving into smarter devices that can automate insulin delivery. These devices offer convenient and easy-to-use features while reducing manual intervention for insulin delivery.
The countries covered in the insulin patch pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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A selection of companies mentioned in this report includes
- Cellnovo
- Insulet Corporation
- Medtronic PLC.
- Tandem Diabetes Care Inc
- Hoffmann-La-Roche AG
For more information about this report visit https://www.researchandmarkets.com/r/i04c9x
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