Market Research Report
Tubeless Insulin Pump Market Size By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030
|Tubeless Insulin Pump Market Size By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030|
Published: May 11, 2022
Global Market Insights Inc.
Content info: 100 Pages
Delivery time: 2-3 business days
The tubeless insulin pump market is estimated to grow massively by 2030 owing to growing occurrences of diabetes around the world. In addition, escalating healthcare expenses associated with diabetes are projected to further propel market growth through the forecast timespan.
The tubeless insulin pump is an effective way to control diabetes through a Bluetooth-connected insulin management system that eliminates the need for daily insulin injections. Recent technological advances have improved pump systems by connecting tubeless insulin pumps to smartphone-type devices, which has fostered product outlook.
After the coronavirus outbreak, the burgeoning cost of insulin pumps due to worldwide supply chain disruptions impeded tubeless insulin pump market growth in the initial stages of the pandemic. However, collaborative efforts between private and public organizations have helped the market regain its pre-COVID momentum. For instance, in May 2021, Roche Diabetes Care, an innovative diabetes technologies services company, launched the mySugr Pump Control system embedded in the mySugr app to improve insulin pump therapy through smartphones.
To cite another instance, in January 2022, Insulet, a leading specialist in tubeless insulin pumps, received U.S. FDA approval for OmniPod 5, its tubeless automated insulin delivery (AID) system that can control daily insulin dosage according to the blood sugar level, in individuals over the age of six diagnosed with type 1 diabetes. The patch-like device can be easily controlled through a smartphone via the Dexcom G6 CGM (continuous glucose monitoring) system. Earlier, in July 2021, the OmniPod 5 AID system had reported successful results in a pivotal trial to reduce HbA 1c levels in children and adults with type 1 diabetes.
In another instance, in November 2021, Terumo Corporation, a medical device corporation, joined hands with a European company to enable MEDISAFE WITH, an insulin patch pump, that can be controlled by smartphone-type devices. The partnership was intended to help Terumo to enhance the operability of MEDISAFE WITH as well as normalize insulin pump therapy in the daily lives of patients.
The tubeless insulin pump market has been bifurcated based on end-use and region. In terms of end-use, the market has been further divided into hospitals & clinics, homecare, and others. The homecare segment dominated the market with more than 76% revenue share in 2021 as a result of technological advancements, growing product adoption, and soaring user preference.
In the regional landscape, apart from North America, Asia Pacific, and Europe, the RoW tubeless insulin pump market is projected to witness notable growth to be valued at around $50 million by 2030 due to the high prevalence of diabetes as well as mounting product uptake across various countries in the region.