According to a new report, published by KBV research, The Global Insulin Pump Market size is expected to reach $9.5 billion by 2030, rising at a market growth of 9.9% CAGR during the forecast period.
The Consumables Segment has shown the growth rate of 12.3% during (2023 - 2030). Because insulin delivery devices are becoming more widely used worldwide, the consumables category is anticipated to expand significantly during the projected period. Consumables are now in more demand as a result of this. Consumables are becoming more widely used worldwide due to several variables, including their relatively cheaper cost, ease of availability, and shorter replacement cycles for items like batteries, infusion sets, and insulin vials compared to pumps.
The Type 1 Diabetes segment is generating the highest revenue share in the Global Insulin Pump Market by Disease Indication in 2022, achieving a market value of $8 billion by 2030. Patients with type 1 diabetes are using insulin pumps more frequently, which is promoting sector growth. The demand for innovative technologies in the delivery of diabetes treatment is rising as a result of the rising prevalence of diabetes and its enormous burden on health systems. An insulin pump is extremely important for people with type 1 diabetes because it offers better glycemic control than several daily injections.
The Hospital Pharmacy segment is showcasing a CAGR of 11.3% during (2023 - 2030). The majority of patients choose to buy these devices from pharmacies connected to hospitals, which has led to the expansion of the hospital pharmacy market. The development of reimbursement guidelines for consumables like pumps would also aid in the expansion of this market.
The North America market dominated the Global Insulin Pump Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.6 Billion by 2030. The Europe market is showcasing a CAGR of 9.2% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 11% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/insulin-pump-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
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