Categories: Life Science
The global Insulin Pump market was valued at 1868.54 Million USD in 2020 and will grow with a CAGR of 3.52% from 2020 to 2027
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin infusion therapy. The device configuration may vary depending on design. A traditional pump includes: the pump (including controls, processing module, and batteries); a disposable reservoir for insulin (inside the pump) a disposable infusion set, including a cannula for subcutaneous insertion (under the skin) and a tubing system to interface the insulin reservoir to the cannula. Other configurations are possible. For instance, more recent models may include disposable or semi-disposable designs for the pumping mechanism and may eliminate tubing from the infusion set. An insulin pump is an alternative to multiple daily injections of insulin by insulin syringes or an insulin pen and allows for intensive insulin therapy when used in conjunction with blood glucose monitoring and carb counting. North America is the largest consumption place, with a consumption market share nearly 44% in 2017. Following North America, Europe is the second largest consumption place with the consumption market share of 24%.
The latest report of the global Insulin Pump industry is projected to exhibit a healthy market expansion during the forecast period of 2021 to 2028. The research report provides a thorough analysis of the market which helps entrepreneurs, stakeholders, and field, marketing people. The research report includes a coherent knowledge of prominent competency of the different activities affected due to the technology revolution. Additionally, the determination of different intangible components such as gross margin, profit demand and supply, customer expenditure, and distribution channel.
The global Insulin Pump market is set to register a significant market expansion during the forecast period owing to the growing popularity in recent years. Prominently the report evaluates the market with advanced research methodologies. Moreover, the research specifies the market share occupied by the major players and offers a comprehensive examination of the increasing investment pocket in the global market. However, the stringent regulatory regulations and fluctuating raw material prices is expected to restrain the growth of the global Insulin Pump market during the review period.
With the expanding number of COVID-19 diseases universally, limitations on various development on Insulin Pump market are expanding. As the worldwide economy battles with the pandemic circumstance, its effect on the worldwide exchange and store network is becoming inferable from the quick debilitating of worldwide speculation streams. Severe regulation measures forced by administrations of different nations and preventive measures to control the impact of the incidence have prompted a critical limitation in transportation, driving a thump on impact internationally. This is encouraging an interest and supply hole, consequently bringing about diminished creation of stress help supplements. This pattern is required to keep inferable from the vulnerability in the worldwide Insulin Pump market and measures to address the inventory/request lop-sidedness.
The global Insulin Pump market has been divided into the collection of segments in terms of product type, application, and consumer preference.
The determination of the different segments is useful in getting clarity about the growth areas and viable opportunities in the Insulin Pump market for the forecast period, 2021 to 2028. Based on Product type the global market has been classified into Normal Pump, Patch Pump.
In terms of the application segment, the global market has been categorized into Type I Diabetes, Type II Diabetes.
Geographically, the report on the Insulin Pump Market has been classified into Asia-Pacific, North America, Europe, and the rest of the world. Moreover, the increasing requirement for the development of modernization of Insulin Pump implements is anticipated to create lucrative opportunities for the market during the review period.
The players accounted for a major company share in the global Insulin Pump market owing to their huge production facilities, global revenue base, accessibility of raw materials (mineral reserves), and global distribution network. Furthermore, the adoption of various market plans of actions such as R&D, winning strategies, agreements, partnerships, joint ventures, and product launches is evaluated to benefit these players increase maximum revenue, and long-term advancement during the forecast period. The major players in the global Insulin Pump market include Medtronic, Roche, Johnson & Johnson, Insulet Corp, Tandem Diabetes care, Valeritas, SOOIL, Microport .
Historical Data:2017 - 2019
No of Pages:100