According to the latest report by IMARC Group titled “Insulin Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global insulin pumps market reached a value of US$ 5.0 Billion in 2022. Insulin pumps are portable medical devices that are utilized to inject insulin into the body to regulate blood sugar levels. They mimic the function of the pancreas and deliver insulin in a steady and continuous dose (basal) and in variable amounts around a mealtime (bolus). In addition, insulin pumps comprise in-built bolus calculators that estimate the dosage of insulin required by the user based on their glucose levels.
Global Insulin Pumps Market Trends:
The market is primarily driven by the increasing health awareness among individuals. Besides this, the rising incidences of lifestyle diseases, such as diabetes and obesity, due to hectic lifestyles and minimal physical activities is escalating the demand for insulin pumps. Moreover, changing dietary patterns and inflating per capita income have led to the rising consumption of convenience and ready-to-eat (RTE) food items containing artificial ingredients and preservatives. This, in confluence with the increasing geriatric population, is contributing to the growing incidences of diabetes, thereby strengthening the market growth. Besides this, governments of numerous countries are introducing various initiatives, such as awareness campaigns regarding the importance of insulin therapy and medical provisions for the treatment of diabetes, which represents another growth-inducing factor. Furthermore, the emergence of highly accurate glucose sensors and blood monitoring devices is anticipated to propel the market growth. Looking forward, IMARC Group expects the market to reach a value of US$ 7.2 Billion by 2028.
- On the basis of the product type, the market has been divided into insulin pumps ( tethered pumps and disposable/patch insulin pumps), and insulin pump supplies and accessories (infusion set insertion devices and insulin reservoirs/cartridges).
- Based on the distribution channel, the market has been classified into hospital pharmacy, retail pharmacy, online sales, diabetes clinics/centers, and others.
- Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The report has also analyzed the competitive landscape of the market, with some of the key players being EOFlow Co. Ltd., Insulet Corp., Medtronic plc, MicroPort Scientific Corporation., Microtech Medical, Roche Diabetes Care Limited, Sooil Development Co. Ltd., Tandem Diabetes Care Inc., Terumo Europe NV (Terumo Corporation) and Ypsomed.
|Base Year of the Analysis
||Product Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||EOFlow Co. Ltd., Insulet Corp., Medtronic plc, MicroPort Scientific Corporation., Microtech Medical, Roche Diabetes Care Limited, Sooil Development Co. Ltd., Tandem Diabetes Care Inc., Terumo Europe NV (Terumo Corporation) and Ypsomed
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