Insulin Pump Market 2019 Size, Share, Growth, Top Companies, Future Trends and Global Industry Insights Till 2023

Insulin Pump Market Insights and Trend Analysis By (Disposable Insulin Pump, Traditional Insulin Pump,), End Users, Leading Global Companies and Segmentation Forecast to 2023

Trends and Dynamics:
Global Insulin Pump Market size to exhibit a CAGR of 8.4% and expected to reach USD 8.52 billion by the end of the forecast period (2016-2023). Diabetic patients require regular insulin shots and the user-friendly nature of insulin pumps helps them to control their blood glucose level. The global insulin pump market could benefit from its user-friendly nature. The innovative glucose sensors can observe and forecast a patient's blood glucose levels. Research & development (R&D) in medical science has resulted in coordination of two technologies, from sensor-augmented insulin pumps and sensor-driven insulin pumps to a completely automated, independent sensing and delivery system.

Other important factors supporting the market growth include growing prevalence of diabetes over the world, surging demand for insulin pumps, increasing consumption of junk food, and increasing adoption of sedentary lifestyle.

Insulin Pump Market Key Players:
Prominent players in the global insulin pump market include Abbott Laboratories (USA), Becton Dickinson (USA), Braun Melsungen AG (Germany), F. Hoffmann-La Roche AG (Switzerland), Insulet Corporation (USA), Medtronics (Ireland), Sanofi (France), and others.

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Insulin Pump Market Segmentation:
The global insulin pump market segmentation covers end-users and types.

Based on the end-users, this insulin pump market has been segmented into home care, hospital & clinics, and laboratories. During the forecast period, the home care segment can have the fastest growth at 8.9% CAGR.

By type, the insulin pump market has been segmented into disposable insulin pump and traditional insulin pump. Holding the largest share, the traditional insulin pump segment can be worth USD 4587.5 million by 2023.

Insulin Pump Market Regional Insights:
A geographical outlining of the global insulin pump market encompasses North America, Europe, Asia Pacific, and the Middle East & Africa (MEA).

By holding the largest global insulin pump market share, North America can dominate the market throughout the review period due to growing prevalence of diabetes in the region. Other factors facilitating the market growth in this region include sedentary lifestyle of consumers, technological advancement, high consumption of junk food, availability of advanced medical facilities, increasing diabetes, as well as, obesity among consumers, and the presence of some important market players in the USA. After the USA, Canada is another notable country-specific market in this region.

In Europe, the market can grow during the forecast period due to technological advancement and the availability of advanced medical facilities. In both these aspects, Europe is second only to North America. Many significant market players are based in Europe. The cardinal country-specific markets in this region include France, Germany, Italy, Spain, and the UK.

During the forecast period, the insulin pump market share in the Asia Pacific region can grow due to the growing prevalence of diabetes in countries like China, India, Indonesia, Malaysia, and Taiwan. In this region, the market is growing due to improving medical facilities in China and India. Australia, Japan, and South Korea are also three other important country-specific markets. A spur in disposable income in the region, along with the availability of better medical facilities and growing healthcare awareness, is all set to change the regional market dynamics.

The MEA region holds the smallest insulin pump market share due to the less emphasis on improving healthcare, limited availability of technology, lack of awareness, presence of stringent government policies, and poor economies. The countries falling in the Middle East segment of this region have better medical facilities compared to the countries in the African segment. The focal country-specific markets in this region are Egypt, Saudi Arabia, and UAE.

Latest Industry News:
Tandem Diabetes Care has increased the worldwide unit sales of its t:slim X2 insulin pumps by 290%. A t:slim X2 insulin pump features integrated continuous glucose monitoring and remote software update capability

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