Insulin Patch Pumps Market surpassed USD 850 Mn in 2021, owing to rising diabetes-related healthcare expenditure | insightSLICE
The global Insulin Patch Pumps market size was estimated to be US$ 850 million in 2021 and is expected grow at a CAGR of 11% between 2023 to 2032.
In the report on the Insulin Patch Pumps Market, we discuss the trends and analyses of the global market with a prediction for 2022–2032.
In addition to taking into account the competitive climate, the forecast study will contain a summary of the key players in the worldwide in vitro fertilization (IVF) market along with their market projections.
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The report would also cover notable developments, regional and global sales subsidiaries, corporate strategies, R&D projects, staff size, and chief employees for all leading market participants.
The key players of the Global Insulin Patch Pumps Market are:
Insulet Corporation, Desarrollos Bio-Tecno-Alimentarios SL, Cellnovo Ltd, CeQur SA, Medtronic Plc, LifeScan, Inc., Valeritus, and Roche Diagnostics are significant market participants in the insulin patch pumps sector.
Benefits of Insulin Patch Pumps:
The development of insulin patch pumps has made them an easy-to-use tool for the precise administration of insulin at predetermined intervals. In comparison to traditional insulin delivery methods, patch pumps are portable, cost-effective, and comfortable.
This has accelerated the use of insulin patch pumps throughout the globe, with North America and Europe leading the way in terms of customer demand. The blood glucose monitoring system is combined with the insulin patch pumps, which are applied to the skin to provide insulin while continuously monitoring blood sugar levels.
The number of people with type 1 diabetes is rising alarmingly as a result of lifestyle issues. Patients with type 1 diabetes require a little amount of insulin to control blood sugar levels, making them the main market for convenient insulin administration methods like patch pumps.
Therefore, it is anticipated that throughout the projected period, the global market for insulin patch pumps will expand at a double-digit rate.
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Report coverage and statistics for the Insulin Patch Pumps Market:
This report will identify the divisions of the company working on insulin patch pumps and will provide an in-depth analysis of the key teams taking the bulk of the worldwide market share across all operating business segments. The market share of well-known businesses in the world market for insulin patch pumps would be covered.
As an example, from the report, Medtronic plc has business divisions of Cardiac & Vascular Group, the Minimally Invasive Therapies Group, the Restorative Therapies Group, and the Diabetes Group. The company’s Diabetes Group provides insulin patch pumps and helps contribute US$2,391 million in revenue for the company.
The research also takes into account the most important competitive data, including SWOT analysis, strategic planning, service offerings, key strategies, and research and development priorities of all companies involved in manufacturing insulin patch pumps.
The actors involved in the market’s supply chain and value chain, as well as their contributions, will be taken into account in the analysis of the global market for insulin patch pumps. Major product lines would be concentrated under the market business area for the insulin patch pump report.
Similar to this, the subsection about recent developments will concentrate on the company’s most recent activities, including key partnerships and alliances, mergers and acquisitions, the introduction of new products, and global coverage in the market for insulin patch pumps.
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Global Insulin Patch Pumps Market Key Segments:
By Delivery Mode
- Basal
- Bolus
- Basal and Bolus
By Product Type
- Disposable
- Reusable
By Distribution Channel
- Hospitals
- Retail Pharmacies
- Private
- Online Pharmacies
- Others
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
Regional performance of Insulin Patch Pumps Market
North America held the largest portion of the global market for insulin patch pumps, and it is expected to continue to hold a dominant position throughout the forecast years.
The main factors driving the growth of the insulin patch pump market in North America are indeed the incidence of type 2 diabetes, the rise in the number of people with type 1 diabetes, and the existence of producers of insulin patch pumps.
During the projection timeframe, Europe is likely to contribute an influence in determining the global market for insulin patch pumps.
Asia Pacific is anticipated to experience the fastest growth because of factors including a boost in the number of diabetes patients, higher manufacturing costs, and expanding public awareness of cutting-edge medical technology.
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