The Latin America, Middle East and Africa Insulin Pump Market would witness market growth of 15.9% CAGR during the forecast period (2023-2030).
Electronic insulin pumps are recommended by both doctors and patients as awareness of diabetes management and caring rises. This can be linked to newer generation pumps being more practical, secure, and accurate than older ones. By communicating with the medical staff and exchanging data, patients may take care of their health issues due to digital technology's anytime, anywhere nature. The elements above are anticipated to fuel the market's expansion. Furthermore, it is anticipated that the adoption of insulin pumps used for treatment will expand due to the growing number of programs being carried out by nonprofit and government entities to raise awareness about diabetes.
The market has expanded and improved in recent years to suit the growing demand from the diabetic population for portable insulin delivery systems. The development of advanced pumps powered by intelligent technologies such as artificial intelligence (AI) and machine learning (ML) by leading medical device makers is another significant growth factor.
The UAE reports 4,500 new instances of cancer each year, per data supplied by the government of the UAE under Chronic Illness and Natural Disorders in March 2023. According to the Diabetes Federation's most recent data, 73 million persons (20-79) in the IDF MENA Region had diabetes in 2021. This number is anticipated to increase to 95 million by 2030 and 136 million by 2045, respectively. Thirty-three billion USD was spent on medical costs associated with diabetes in 2021. These elements are predicted to enhance the demand in the region, thereby resulting in market growth.
The Brazil market dominated the LAMEA Insulin Pump Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $223.1 million by 2030. The Argentina market is anticipated to grow at a CAGR of 16.6% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 15.6% during (2023 - 2030).
Based on Product, the market is segmented into Pumps (Tethered, Patch, and Others), and Consumables. Based on Disease Indication, the market is segmented into Type 1 Diabetes, and Type 2 Diabetes. Based on Distribution Channel, the market is segmented into Retail & Online Pharmacies, and Hospital Pharmacy. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Insulin Pump Market is Projected to reach USD 9.5 Billion by 2030, at a CAGR of 9.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, F. Hoffmann-La Roche Ltd., Tandem Diabetes Care, Inc., Insulet Corporation, Ypsomed AG, Aetna, Inc. (CVS Pharmacy, Inc.), SOOIL Developments Co., Ltd, Diabeloop SA, Jiangsu Delfu Medical Device Co.,Ltd, and APEX Medical Corporation
By Product
By Disease Indication
By Distribution Channel
By Country
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