The insulin Pumps Market is expected to reach USD 14.99 Billion by 2032, at CAGR of 15.50% asserts Market Research Future (MRFR).
The Insulin Pumps market has witnessed significant growth in recent years, driven by the increasing prevalence of diabetes and the demand for effective and convenient insulin delivery systems. Insulin pumps, often referred to as "insulin machines" or "diabetes pumps," play a crucial role in the management of diabetes by providing a continuous and precise flow of insulin to the patient.
One of the key factors contributing to the growth of the Insulin Pumps market is the rising incidence of diabetes globally. As more individuals are diagnosed with diabetes, there is a growing need for advanced and efficient methods of insulin administration. Insulin pumps offer a more flexible and personalized approach to insulin therapy, allowing users to adjust dosage based on their unique needs and lifestyle.
The term "insulin machine" reflects the technological aspect of these pumps, emphasizing their automated and programmable features. These devices use advanced algorithms to mimic the natural insulin secretion of the pancreas, providing a more physiological insulin delivery profile. This enhances the overall management of blood glucose levels and reduces the risk of hypoglycemia.
"Diabetes pumps" is another commonly used term in the industry, emphasizing the role of these devices in diabetes management. Insulin pumps not only provide a continuous supply of insulin but also offer features like bolus dosing for mealtime insulin needs. This flexibility is particularly beneficial for individuals with varying insulin requirements throughout the day.
Segment Analysis
The insulin pumps market has been segmented into type, accessories, end-users, and applications. Based on the segment which is type, the market is categorized on the basis of disposable insulin pumps, smart insulin pumps, solo insulin pumps and traditional insulin pumps. The global market for insulin pumps is further segmented based on accessories into infusion set insertion devices, infusion sets, and insulin reservoirs. Furthermore, the market, on the basis of end-users is segmented into home care, hospitals and clinics, and laboratories. Based on the segment which is applications, the market is categorized on the basis of Type I Diabetes and Type II Diabetes.
The global market research report covers all the aspects of the insulin pumps market based on the segmental analysis of these types, accessories, end-users, and applications segments. Analysts have also studied the global market's regional markets spread across many continents and countries. The type, accessories, end-users, and applications segments along with their sub-segments have been analyzed and companies functioning in the market across these segments are profiled and analyzed based on input and feedback from insulin pumps market based decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the insulin pumps market.
Major Key Players:
Some Of the Insulin Pumps Companies are Insulet Corporation, Dickinson and Company, Hoffmann-La Roche AG, Abbott Laboratories, Braun Melsungen AG, Medtronics, Becton, Sanofi
Recent Development
The MiniMed 780G system was given FDA certification by medical device manufacturer Medtronic. The insulin pump automatically corrects and regulates the blood glucose levels of people with type 1 diabetes every five minutes. The announcement comes three years after Medtronic started marketing the system in Europe and two years after the company submitted the device for FDA approval. By integrating with Medtronic's Guardian 4 continuous glucose monitoring sensors and SmartGuard technology for insulin changes, the MiniMed 780G pump aims to make it easier for patients to control their type 1 diabetes.
The FDA has approved the Tandem Mobi insulin pump in the United States for diabetics aged 6 and older. The product is now the smallest among readily accessible durable tubed pumps and is just half as big as the company's t: thin X2. Through a user's compatible iPhone and a mobile app, it is entirely controllable. A 200-unit insulin cartridge and an on-pump button which can be used in place of the phone to bolus insulin, are two features of the Mobi. The device can be worn on the body with a sticky sleeve available separately or clipped to clothing.
Regional Analysis
The rising belief in naturopathy may hinder the market growth. The market research report suggests that companies in the insulin pumps market could be supported by the expanding geriatric population as well as the increasing development activities during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional insulin pumps markets will dominate the global market for insulin pumps during the forecast period 2017 to 2023. As per market analysts, the market is set to witness tremendous growth across smart insulin pumps and infusion sets segments in APAC and North America which covers insulin pumps markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the insulin pumps market research report.
Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering insulin pumps markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.
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