Insulin Pump Market 2022-2028

Title: Global Insulin Pump Market Size, Share & Trends Analysis Report by Type (Traditional Pumps, Disposable Pumps, and Smart Pumps), by End Users (Hospitals and Clinics, Home Care, and Laboratories) Forecast Period (2022-2028).

The global insulin pump market is anticipated to grow at a substantial CAGR of 8.5% during the forecast period. Rising awareness of diabetic care, and professional and consumer information programs by insulin pump manufacturers are the major factors that are also contributing significantly towards the growth of the market. An increase in awareness of diabetes treatment and management and measures taken by governments and government agencies pertaining the same is exponentially fostering the market growth. For instance, iIn April 2021, WHO launched the Global Diabetes Compact, a global initiative aiming for sustained improvements in diabetes prevention and care. The initiative focuses on supporting low- and middle-income countries. The Compact is bringing together national governments, UN organizations, non-governmental organizations, private sector entities, academic institutions, and philanthropic foundations, people living with diabetes, and international donors to work on reducing the risk of diabetes and ensuring people to have access to equitable, comprehensive, affordable and quality treatment and care. However, certain factors such as high cost of insulin and insulin pumps, and risks associated with insulin pumps such as skin infection are estimated to be the major constraints in the growth of the market.

The global insulin pump market is segmented based on the type and end users. Based on the type, the market is segmented into traditional pumps, disposable pumps, and smart pumps. Based on the end users, the market is sub-segmented into the hospitals and clinics, home care, and laboratories. The above mentioned segments can be customized as per the requirements. On the basis of end users, the homecare segment is expected to hold considerable share in the market during the forecast period. The growth is attributed towards increasing awareness of insulin pumps and their ease of use. Insulin pumps which are smaller in size and easy to carry such as patch pumps are experiencing higher adoption at home. Moreover, development of artificial pancreas and home infusion therapy is also expected to propel the market during the forecast period.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific region is anticipated to hold a considerable share in the insulin pump market owing to increasing number of programs and initiatives taken by governments to increase awareness about diabetes. For instance, Australian Government has developed the Australian National Diabetes Strategy 2021-2030 to priorities the national response to diabetes. Under which the National Diabetes Services Scheme (NDSS) provides subsidized products and support services to people with diabetes who register with the scheme.

The major companies serving the global Insulin Pump market include Abbott Laboratories, Asante, B. Braun Melsungen AG, Insulate Corp., MiniMed Distribution Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In 2022, Tandem Diabetes Care, Inc. announced U.S. Food and Drug Administration (FDA) clearance of bolus insulin dosing on the t:slim X2 insulin pump using the t:connect mobile app. This is the first-ever FDA-cleared smartphone app competent of initiating insulin delivery on iOS as well as Android operating systems.

Research Methodology

The market study of the global insulin pump market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Insulin Pump Market Research and Analysis by Type.

2. Global Insulin Pump Market Research and Analysis by End Users.

The Report Covers:

• Comprehensive Research Methodology of the global insulin pump market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global insulin pump market.
• Insights about market determinants that are stimulating the global insulin pump market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.