According to the latest report by IMARC Group titled “Insulin Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global insulin pumps market reached a value of US$ 4.7 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 6.9 Billion by 2027.
- 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 Animus Corp., Medtronics Inc., Insulet Corp., Roche Diagnostics, Cellnovo Ltd., Asante, Nipro Diagnostic Inc., Tandem Diabetes Care Inc., Sooil Development Co. Ltd., and Ypsomed India Pvt. Ltd
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal