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The global insulin pumps market reached a value of US$ 4.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.9 Billion by 2027, exhibiting at a CAGR of 6.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Insulin pumps are small computerized medical devices that can be clipped on to a belt, pocket or hidden under the clothes. The pump is used to deliver controlled doses of insulin inside the body at regular intervals, depending upon the consumer’s basal and bolus rate, to control the rise in blood glucose levels. It operates through a needle and a flexible catheter that is used to insert insulin directly into the fatty tissue, which is then taped and secured in place. Insulin pumps assist individuals suffering from type 1 and type 2 diabetes by providing them flexibility in food options and eating schedules and reduces the number of injection administrations.
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The increasing prevalence of diabetes across the globe and rising health awareness are the key factors for market growth. Modernization of economies has significantly enhanced the occurrence of several lifestyle diseases, especially diabetes. This is further augmented by changing dietary preferences and dependency on ready-to-eat packaged food containing artificial ingredients and preservatives. Since diabetes can trigger the occurrence of other chronic conditions such as kidney failure, stroke, paralysis and blindness, manufacturers are increasingly emphasizing on creating adaptive and affordable devices. Additionally, due to the development of highly accurate glucose sensors and blood monitoring devices, the demand for efficient insulin pumps has also increased. Furthermore, factors such as rising per capita expenditure on healthcare services and increasing research and development for improving the functioning of insulin pumps have also contributed to market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global insulin pumps market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type and distribution channel.
Breakup by Product Type:
Breakup by Distribution Channel:
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Breakup by Region:
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Competitive Landscape:
The report has also analysed 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., Ypsomed, etc.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Distribution Channel, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Animus Corp., Medtronics Inc., Insulet Corp., Roche Diagnostics, Cellnovo Ltd., Asante, Nipro Diagnostic Inc., Tandem Diabetes Care Inc., Sooil Development Co. Ltd. and Ypsomed |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global insulin pumps market was valued at US$ 4.7 Billion in 2021.
We expect the global insulin pumps market to exhibit a CAGR of 6.5% during 2022-2027.
The growing demand for insulin pumps among type 1 and type 2 diabetes patients, to deliver controlled doses of insulin inside the body as well as providing flexibility in food options and eating schedules, is primarily driving the global insulin pumps market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing usage of protective equipment, including insulin pumps to help diabetic patients for managing their blood sugar levels to immune the body from the high risk of the coronavirus infection.
Based on the product type, the global insulin pumps market has been segregated into insulin pumps and insulin pump supplies and accessories, where insulin pumps hold the largest market share.
Based on the distribution channel, the global insulin pumps market can be bifurcated into hospital pharmacy, retail pharmacy, online sales, diabetes clinics/centers, and others. Currently, hospital pharmacy exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global insulin pumps market include Animus Corp., Medtronics Inc., Insulet Corp., Roche Diagnostics, Cellnovo Ltd., Asante, Nipro Diagnostic Inc., Tandem Diabetes Care Inc., Sooil Development Co. Ltd., Ypsomed, etc.
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