Global Insulin Pumps Market Report 2021-2028: Increase in Product Approvals & Increasing Distribution Agreements, Partnerships and Collaboration Activities

Dublin, Dec. 07, 2021 (GLOBE NEWSWIRE) -- The "Insulin Pumps Global Market Report - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The insulin pumps global market is expected to grow at a high single digit CAGR from 2021 to 2028 to reach $6,412.9 million by 2028.

Geographically, North America is the largest market, with a share followed by Europe and the Asia Pacific.

The APAC region is the fastest-growing region and is expected to grow at low teen CAGR from 2021 to 2028 presenting an array of growth opportunities and is likely to get the attention of new investors in the insulin pumps market. Growth in the Asian market is attributed to the rising prevalence of lifestyle diseases and government initiatives in establishing innovative technologies and demand for sophisticated medical services.

The insulin pumps market is expected to grow at high single digit CAGR from 2021 to 2028. An increase in the prevalence of diabetes, advantages of insulin pumps in the home care setting, and increasing distribution agreements, partnerships and collaboration activities, are the factors driving the market growth. The increasing product approvals and market expansion in emerging nations are expected to offer potential opportunities.

However, various factors like high cost, inadequate reimbursements, increasing product recalls and privacy concerns and safety issues associated with insulin pumps limit the growth of insulin pumps global market.

The insulin pumps global market is a highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares.

Market Segmentation

The insulin pumps market is segmented based on products, applications, pump utility, end-users and geography. The insulin pumps products market is segmented into insulin pumps and consumables, among them, insulin pumps held the largest share of the market in 2021 and are expected to grow at high single digit CAGR from 2021 to 2028.

Insulin pumps are further sub-segmented into tethered insulin pumps and patch insulin pumps, among which the patch pump accounted for the largest share in 2021 and is expected to grow at high single digit CAGR from 2021 to 2028, the tethered pump market is expected to grow at strong CAGR from 2021 to 2028.

The applications market is segmented into type 1 diabetes and type 2 diabetes, among them, the type 1 diabetes segment held the largest share in 2021 and is expected to grow at a high single digit CAGR from 2021 to 2028. The market based on pump utility is segmented into disposable pumps and durable pumps, among which durable pumps command the largest revenue in 2021, the disposable pump segment is expected to grow at high single digit CAGR from 2021 to 2028.

The disposable pump market is further sub-segmented into fully disposable and partially disposable pumps, among which, the fully disposable segment commanded the largest revenue in 2021.

The end-users market is classified into hospitals, ambulatory surgical centers, homecare and others. Among them, home healthcare commanded the largest share in 2021 and is expected to be the fastest-growing segment with high single digit CAGR from 2021 to 2028.

Factors Influencing Market

Drivers and Opportunities

• The Global Rise in the Prevalence and Incidence of Diabetes

• Increase in the Use of Insulin Pumps In-Home Care Settings and Disadvantages of Conventional Methods Over Insulin Pumps.

• Increasing Distribution Agreements, Partnerships and Collaboration Activities

• Increase in Product Approvals

Restraints and Threats

• High Cost of the Continuous Subcutaneous Insulin Infusion Therapy (Csii)

• Inadequate Reimbursement

• Increased Product Recalls

• Privacy Concern and Safety Issues Associated with Insulin Pumps

• Stringent Regulatory Requirements for New Products

Regulatory Affairs

• International Organization for Standardization

• Iso:9001: 2015 Quality Management System

• Iso:13485 Medical Devices

• U.S.

• Canada

• Europe

• India

• China

• Japan

Funding

Deals

Major players in the insulin pumps market include

• Cequr Sa

• Debiotech S.A.

• Eoflow

• F. Hoffmann La Roche AG

• Insulet Corporation

• Jiangsu Delfu Medical Device Co. Ltd.

• Lenomed Medical

• Medtronic, plc

• Medtrum Technologies

• Medzer

• Microport Scientific

• Microtech Medical, Inc.

• Sooil Development

• Tandem Diabetes Care

• Terumo Corporation

• Vicentra B.V.

• Wuxi Apex Medical

• Ypsomed AG

• Zealand Pharma (Valeritas)

• Zhengzhou Phray Technology Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/wfahzy

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