PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1355729
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1355729
An insulin pump is a medical device used to administer insulin to individuals with diabetes. It is an alternative to traditional insulin injections and provides continuous and customizable delivery of insulin throughout the day. The pump consists of a small device that holds insulin and is typically worn on the outside of the body, either attached to a belt or placed in a pocket. The key factors such as rising prevalence of diabetes, growing awareness about insulin pumps, and recent product approvals, innovation and development are anticipated to create a lucrative demand for the market during forecast period.
Moreover, the global prevalence of diabetes has been steadily increasing over the years. This rise is primarily attributed to factors such as sedentary lifestyles, unhealthy dietary habits, and obesity. As the number of individuals diagnosed with diabetes continues to grow, so does the potential customer base for insulin pump manufacturers. The IDF Diabetes Atlas estimates that 537 million persons between the ages of 20 and 79 will have diabetes in 2021. Additionally, it is anticipated that there would be 643 million patients worldwide by 2030 and 783 million by 2045. Additionally, rising technological advancement in insulin pumps is anticipated to create lucrative opportunities for the market. However, the high cost of insulin pumps stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Insulin Pump Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to the existence of significant insulin pump players. Additionally, it is anticipated that the market in the area would be driven by the rising incidence of obesity, high medical costs, technological advancements, and new releases. Asia Pacific is expected to grow significantly during the forecast period, factors such as growing healthcare funding and government programs to raise diabetes awareness, and rising prevalence of diabetes are key drivers of growth in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable