September 20th, 2022 BRANDESSENCE MARKET RESEARCH Releases
The Global Insulin Pump Market was worth USD 4.98 billion in 2021 and it is expected to reach USD 12.18 billion at the end of 2028 with a CAGR of 13.64%.
Insulin pumps are very convenient for people who require multiple insulin injections daily. These devices are less invasive and hence, are largely adopted by the patient pool. The growth of the market is majorly attributed to the increasing geriatric population, growing incidence of diabetes, and the rising prevalence of obesity. Moreover, companies are developing new generation insulin pumps with advanced technology to provide better compliance and integration with IT devices, which is contributing to the growth of the market. Technological developments, including the artificial pancreas and home infusion therapy, are also anticipated to create significant growth opportunities shortly.
Global Insulin Pump Market Key players:
• Spring Health Solutions and Debiotech.
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Global Insulin Pump Market Segmentation: –
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Due to advancements in technology and a rise in the usage of insulin pumps in place of more traditional methods, the market is expanding. The market is growing as a result of the aging population, rising diabetes prevalence, and rising obesity rates. Additionally, it is anticipated that technological developments like the artificial pancreas and home infusion therapy would have significant growth possibilities shortly. Additionally, the use of insulin pumps is becoming more widely known, which has spurred market growth in both developed and developing countries. Due to advancements in technology and a rise in the usage of insulin pumps in place of more traditional methods, the market is expanding. The market is growing as a result of the aging population, rising diabetes prevalence, and rising obesity rates.
Market Analysis of Insulin Pump: –
Diabetes Mellitus is a metabolic disorder affecting children and adults in which the body does not produce enough insulin. Symptoms of high blood sugar include weakness fatigue, frequent urination, increased thirst, unexplained loss of weight and increase in healing time of cuts & wounds, and increased hunger. An insulin pump is a portable medical device used for the administration of insulin at a programmed rate to control diabetes mellitus. The insulin is housed inside the pump in a little cartridge called “Reservoir”. Insulin travels into your body through a flexible tube that ends with a tiny needle called a” Cannula” inserted just under the skin. So during the study of the global Insulin Pump market, we have considered Global Insulin Pump devices syringes, insulin pens, jet injectors, and consumables like Infusion sets, Cannula, Tubing boxes, and reservoirs to analyze the market.
The Global Insulin Pump market report is segmented based on Product Type, End User, and geography. Based on Product type, the Market is classified as Traditional Insulin Pumps, Disposable Insulin Pumps, and Smart Pumps. Based on end users, the Market is classified into Hospitals, Homecare, Laboratories, Retailer, Online pharmacies, individuals (self-medication), and Clinics.
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The growth of the Global Insulin Pump Market is driven by the chronic nature of the disease, the Increasing aging population, the increasing prevalence of diabetes, and growing awareness of diabetes and insulin delivering devices, such as syringes, pens, jet injectors, and oral insulin. Also, advancement in technology especially in the medical and healthcare sectors is one of the drivers for this market. However, skin infections like redness, swelling, and pain also weight gain due to increased anabolic activity, and the High Cost of Insulin Pumps i.e., USD 2000 to USD 4500. In near future, technological advancements such as Insulin Patch Pumps, Combined pumps, Glucose sensors, and Implanted Pumps may generate new opportunities.
On Special Requirement Global Insulin Pump Market. The report is also available for the below Regions and Countries: –
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