New York,USA, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Research Dive states that the global tubeless insulin pump market is anticipated to register a revenue of $2,837.6 million by 2026, at a CAGR of 23.4% during the forecast period from 2019 to 2026. The all-inclusive report provides a brief summary of the current market scenario comprising major aspects of the market such as growth factors, restraints, challenges, and numerous growth opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.
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Market Dynamics
As per the analysts of Research Dive, the rapid increase in diabetic cases across the globe and the technological advancements & development in the tubeless insulin pumps are the significant factors estimated to fuel the growth of the global tubeless insulin pump market over the forecast period. Besides, the patients have a high preference for tubeless insulin pumps over the traditional invasive insulin pumps. Moreover, increase in government initiatives to grow awareness across the world about medicare policies and diabetes management are predicted to create more growth opportunities in the estimated period. However, the high costs and increased risk of diabetic ketoacidosis with using tubeless insulin pumps are factors that may restrict the market growth in the coming years.
Pod Sub-segment to be Most Profitable
By component, the pod sub-segment valued for $311.4 million in 2018 and is expected to witness substantial growth over the forecast period. This pod is a disposable and lightweight, which can be carried up to three days of non-stop insulin and can be attached anywhere on the user’s body. This kit can be operated via the phone, with various advanced devices such as wearables, Bluetooth-enabled devices, and others. These factors are predicted to bolster the sub-segment’s growth by 2026.
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E-commerce Sub-segment to be Most Lucrative
By distribution channel, the e-commerce sub-segment valued for $279.7 million in 2018 and is predicted to observe lucrative growth during the analysis period. The significant growth of the sub-segment is mainly because e-commerce is one of the most commonly used channels for the sales of tubeless insulin pumps as consumers are highly attracted to these channels due to the economic benefits offered. Thus, consumers are increasingly preferring purchases through the e-commerce channels, which is driving the sub-segment’s growth.
North America Region to Have Massive Growth Opportunities
By region, the North America market for tubeless insulin pump registered for the largest share in the global industry in 2018 and projected to garner a revenue of $924.5 million by 2026. The rise in number of elderly population and the sedentary lifestyle of people in this region is leading to increase in the diabetic population. Canada and the U.S. are anticipated to witness a significant increase in the diabetic population in the coming years, which will boost the growth of the North America tubeless insulin pump market in the forecast period.
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Prominent Market Players
The report presents several aspects of these major players such as business & financial performance, strategic moves by key players, latest developments, product portfolio, and SWOT analysis. Some of the top players of the global tubeless insulin pump industry are:
- Abbott Diabetes Care
- Medtrum Technologies Inc.
- CeQur SA
- Insulet Corporation
- Veleritas
- Debiotech
- Spring Health Solution Ltd.
- Cellnovo Group SA
- Rosh Holding AG
- Johnson & Johnson.
These players are implementing several strategies to gain a chief position in the global industry.
For instance, in January 2021, Insulet Corporation, the global leader in tubeless insulin pump technology, announced the launch of its Omnipod DASH Insulin Management System in Canada. The Omnipod System combines a wearable, tubeless, waterproof Pod with a touchscreen easy-to-use personal diabetes manager (PDM).
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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