Newly-released Insulin Pump market analysis report by Future Market Insights shows that global sales of the Insulin Pump market in 2021 were held at US$ 5 billion. With 10.3%, the projected market growth from 2022 to 2032 is expected to be significantly higher than the historical growth. The absolute dollar opportunity for the Insulin Pump market is projected at US$ 9.7 billion, due to an aging population, an increase in diabetes incidence, and a surge in the prevalence of overweight and obesity.
| Attribute | Details |
|---|---|
| Global Insulin Pumps Market (2022) | US$ 5.5 billion |
| Global Insulin Pumps Market (2032) | US$ 14.8 billion |
| Global Insulin Pumps Market CAGR (2022 to 2032) | 10.3% |
| The USA Insulin Pumps Market (2022) | 8.5% |
| Key Companies Profiled |
|
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As per the Insulin Pump market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Insulin Pump markets increased at around 9.6% CAGR, wherein, the region North America held a significant share in the global market.
The dominance of chronic diseases like chronic respiratory diseases, mental illnesses, cancer, and diabetes surged the demand for Insulin pumps. Apart from this, by 2030, The WHO (World Health Organization) estimated that the global population aged 60 years and over will increase to 1.4 billion. The growing age of the elderly population is also a key factor in driving the market for Insulin pumps. Owing to this, the Insulin Pump market is projected to grow at a CAGR of 9.8% over the coming 10 years.
Technological developments and the increasing use of insulin pumps over older techniques which is affecting insulin market growth. Insulin pumps are useful for patients who need several insulin injections on a daily basis. Because these devices are less intrusive, they are widely used by patients. The growing elderly population, rising diabetes incidence, and obesity rates prevalence are factors driving market expansion. Additionally, firms are creating next-generation insulin pumps with advanced technology to improve compliance and interaction with IT devices, which is adding to market growth. Technological advancements such as the artificial pancreas and home infusion treatment are also expected to generate major growth prospects in the near future.
One of the reasons driving market expansion is an increase in the incidence of diabetes owing to age, obesity, and an unhealthy lifestyle. Obesity is a primary cause of diabetes, which leads to a rise in the prevalence of diabetes-related ocular illnesses. In 2017, the worldwide incidence of diabetes was estimated to be about 22.9 million, the prevalence was reported to be around 476 million, 1.37 million fatalities were recorded owing to diabetes, and 1.37 million disability-adjusted life-years (DALYs) were reported to be related to diabetes. According to the WHO, over 1.9 billion individuals were overweight in 2017, with around 650 million people classed as obese.
Obesity and being overweight are risk factors that are increasing the occurrence of type II diabetes. As a result, risk factors such as smoking, being overweight, being obese, and having high cholesterol are likely to increase the prevalence of type II diabetes.
Principal Consultant
With over 14.8% and 13.1% projected growth rates in China and Japan respectively, the Insulin Pump market revenue is expected to grow at the fastest pace in the Asia Pacific, from 2022 to 2032. Some of the key companies having manufacturing units in all major locations in APAC have started to expand their production units to different locations of APAC to increase the fast distribution of their products. While this implies to a shift in the diversification of global locations, it promises a significant opportunity for the Insulin Pump market.
Technology advancements, increased investment, improved reimbursement scenarios, and an increase in medical tourism are all aspects that are expected to drive market expansion. Furthermore, in the approaching years, the demand in the Asia Pacific is predicted to be boosted by a growing aging population combined with an increasing burden of chronic diseases. According to a UNFPA report, the aging population in the APAC is increasing at an unprecedented rate, and by 2050, one in every four persons in the region would be over 60 years old, bringing the total population to close to 1.3 billion.
USA dominated the North America Insulin Pump market and is poised to reach US$ 3.6 billion by 2032. The growing number of hospital admission and ease of Medicare reimbursement policy favors market growth. The market in The USA is projected to garner an absolute dollar opportunity of US$ 2 billion from 2022 to 2032.
The market in The United Kingdom is expected to grow from US$ 269 million to reach a valuation of US$ 775 million, growing at a CAGR of 11.1% from 2022 to 2032. The market in the country is projected to garner an absolute dollar opportunity of US$ 506 million from 2022 to 2032.
The market in Japan is likely to reach US$ 781 million by 2032, growing at a CAGR of 13% from 2022 to 2032. The market in the country is projected to garner an absolute dollar opportunity of US$ 553 million.
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In 2021, the tethered pumps category led the market, accounting for 78.5% of the total revenue. During the projection period, the category is predicted to grow at a CAGR of 13.4%. Flexible tubing connects the pump to the cannula in tethered pumps. The segment's enormous market size is mostly due to the dependability of these classic pumps and the variety of devices available on the market.
Over the projected period, rising emphasis on innovations and investments among public and private entities is expected to strengthen competition in the market. In addition, product commercialization and partnership tactics are expected to be profitable in the upcoming years.
The key vendors in the global Insulin Pump market are Cellenovo, Sooil Development, Valeritas, Inc, JingasuDelfu Co., Ltd., Medtronic plc, Hoffmann-La Roche Ltd, Tandem Diabetic Care, Inc., Insulet Corporation, and Ypsomed.
Some of the recent developments in the Insulin Pump market are:
The global Insulin Pump market is worth more than US$ 5.5 billion at present.
The value of the Insulin Pump market is projected to increase at a CAGR of around 10.3% from 2022 to 2032.
The value of the Insulin Pump market increased at a CAGR of around 9.6% from 2017 to 2021.
The top 5 countries driving demand for the Insulin Pump market are the USA, China, Germany, The United Kingdom, and Japan.
The value of the Insulin Pump market is projected to increase at a CAGR of around 8.7% from 2022 to 2032 in North America.
The USA market for Insulin pumps is projected to expand at a CAGR of around 8.5% from 2022 to 2032.
The major product is MiniMed (630G, 670G, and VEO) that will be accounted for a growth at 10.4% CAGR during forecast period.
The major companies are Medtronic plc, Hoffmann-La Roche Ltd, Tandem Diabetic Care, Inc., Insulet Corporation, and Ypsomed.
1. Executive Summary | Insulin Pumps Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Market, by Key Countries
4.2. Market Opportunity Assessment (US$ million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Growth in Automation, By Country
4.5.3. Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2017 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ million) Analysis, 2017 to 2021
7.2. Current and Future Market Value (US$ million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ million) Analysis By Type, 2017 to 2021
8.3. Current and Future Market Size (US$ million) Analysis and Forecast By Type, 2022 to 2032
8.3.1. Patch Pumps
8.3.2. Tethered Pumps
8.4. Market Attractiveness Analysis By Type
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ million) Analysis By Product Type, 2017 to 2021
9.3. Current and Future Market Size (US$ million) Analysis and Forecast By Product Type, 2022 to 2032
9.3.1. Tandem (T: slim X2, G4, T: flex Delivery System)
9.3.2. Accu-Chek (Combo, Insight, and Solo)
9.3.3. MiniMed (630G, 670G, and VEO)
9.3.4. Omillionipod
9.3.5. My Life Omillionipod
9.3.6. Other Product Types
9.4. Market Attractiveness Analysis By Product Type
10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Accessories
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ million) Analysis By Accessories, 2017 to 2021
10.3. Current and Future Market Size (US$ million) Analysis and Forecast By Accessories, 2022 to 2032
10.3.1. Insulin reservoir or cartridges
10.3.2. Insulin set insertion devices
10.3.3. Battery
10.4. Market Attractiveness Analysis By Accessories
11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-User
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ million) Analysis By End-User, 2017 to 2021
11.3. Current and Future Market Size (US$ million) Analysis and Forecast By End-User, 2022 to 2032
11.3.1. Homecare
11.3.2. Hospitals & clinics
11.3.3. Laboratories
11.4. Market Attractiveness Analysis By End-User
12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
12.1. Introduction
12.2. Historical Market Size (US$ million) Analysis By Region, 2017 to 2021
12.3. Current Market Size (US$ million) & Analysis and Forecast By Region, 2022 to 2032
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. Asia Pacific
12.3.5. Middle East and Africa (MEA)
12.4. Market Attractiveness Analysis By Region
13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. The USA
13.4.1.2. Canada
13.4.1.3. Rest of North America
13.4.2. By Type
13.4.3. By Product Type
13.4.4. By End-User
13.4.5. By Accessories
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Type
13.5.3. By Product Type
13.5.4. By End-User
13.5.5. By Accessories
14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
14.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. Brazil
14.4.1.2. Mexico
14.4.1.3. Rest of Latin America
14.4.2. By Type
14.4.3. By Product Type
14.4.4. By End-User
14.4.5. By Accessories
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Type
14.5.3. By Product Type
14.5.4. By End-User
14.5.5. By Accessories
15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
15.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Country
15.4.1.1. Germany
15.4.1.2. France
15.4.1.3. The United Kingdom
15.4.1.4. Italy
15.4.1.5. Benelux
15.4.1.6. Nordic Countries
15.4.1.7. Rest of Europe
15.4.2. By Type
15.4.3. By Product Type
15.4.4. By End-User
15.4.5. By Accessories
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Type
15.5.3. By Product Type
15.5.4. By End-User
15.5.5. By Accessories
16. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
16.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
16.4.1. By Country
16.4.1.1. China
16.4.1.2. Japan
16.4.1.3. South Korea
16.4.1.4. Rest of Asia Pacific
16.4.2. By Type
16.4.3. By Product Type
16.4.4. By End-User
16.4.5. By Accessories
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Type
16.5.3. By Product Type
16.5.4. By End-User
16.5.5. By Accessories
17. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
17.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
17.4.1. By Country
17.4.1.1. GCC Countries
17.4.1.2. South Africa
17.4.1.3. Turkey
17.4.1.4. Rest of Middle East and Africa
17.4.2. By Type
17.4.3. By Product Type
17.4.4. By End-User
17.4.5. By Accessories
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Type
17.5.3. By Product Type
17.5.4. By End-User
17.5.5. By Accessories
18. Key Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
18.1. Introduction
18.1.1. Market Value Proportion Analysis, By Key Countries
18.1.2. Global Vs. Country Growth Comparison
18.2. US Market Analysis
18.2.1. Value Proportion Analysis by Market Taxonomy
18.2.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.2.2.1. By Type
18.2.2.2. By Product Type
18.2.2.3. By End-User
18.2.2.4. By Accessories
18.3. Canada Market Analysis
18.3.1. Value Proportion Analysis by Market Taxonomy
18.3.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.3.2.1. By Type
18.3.2.2. By Product Type
18.3.2.3. By End-User
18.3.2.4. By Accessories
18.4. Mexico Market Analysis
18.4.1. Value Proportion Analysis by Market Taxonomy
18.4.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.4.2.1. By Type
18.4.2.2. By Product Type
18.4.2.3. By End-User
18.4.2.4. By Accessories
18.5. Brazil Market Analysis
18.5.1. Value Proportion Analysis by Market Taxonomy
18.5.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.5.2.1. By Type
18.5.2.2. By Product Type
18.5.2.3. By End-User
18.5.2.4. By Accessories
18.6. Germany Market Analysis
18.6.1. Value Proportion Analysis by Market Taxonomy
18.6.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.6.2.1. By Type
18.6.2.2. By Product Type
18.6.2.3. By End-User
18.6.2.4. By Accessories
18.7. France Market Analysis
18.7.1. Value Proportion Analysis by Market Taxonomy
18.7.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.7.2.1. By Type
18.7.2.2. By Product Type
18.7.2.3. By End-User
18.7.2.4. By Accessories
18.8. Italy Market Analysis
18.8.1. Value Proportion Analysis by Market Taxonomy
18.8.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.8.2.1. By Type
18.8.2.2. By Product Type
18.8.2.3. By End-User
18.8.2.4. By Accessories
18.9. BENELUX Market Analysis
18.9.1. Value Proportion Analysis by Market Taxonomy
18.9.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.9.2.1. By Type
18.9.2.2. By Product Type
18.9.2.3. By End-User
18.9.2.4. By Accessories
18.10. The United Kingdom Market Analysis
18.10.1. Value Proportion Analysis by Market Taxonomy
18.10.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.10.2.1. By Type
18.10.2.2. By Product Type
18.10.2.3. By End-User
18.10.2.4. By Accessories
18.11. Nordic Countries Market Analysis
18.11.1. Value Proportion Analysis by Market Taxonomy
18.11.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.11.2.1. By Type
18.11.2.2. By Product Type
18.11.2.3. By End-User
18.11.2.4. By Accessories
18.12. China Market Analysis
18.12.1. Value Proportion Analysis by Market Taxonomy
18.12.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.12.2.1. By Type
18.12.2.2. By Product Type
18.12.2.3. By End-User
18.12.2.4. By Accessories
18.13. Japan Market Analysis
18.13.1. Value Proportion Analysis by Market Taxonomy
18.13.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.13.2.1. By Type
18.13.2.2. By Product Type
18.13.2.3. By End-User
18.13.2.4. By Accessories
18.14. South Korea Market Analysis
18.14.1. Value Proportion Analysis by Market Taxonomy
18.14.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.14.2.1. By Type
18.14.2.2. By Product Type
18.14.2.3. By End-User
18.14.2.4. By Accessories
18.15. GCC Countries Market Analysis
18.15.1. Value Proportion Analysis by Market Taxonomy
18.15.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.15.2.1. By Type
18.15.2.2. By Product Type
18.15.2.3. By End-User
18.15.2.4. By Accessories
18.16. South Africa Market Analysis
18.16.1. Value Proportion Analysis by Market Taxonomy
18.16.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.16.2.1. By Type
18.16.2.2. By Product Type
18.16.2.3. By End-User
18.16.2.4. By Accessories
18.17. Turkey Market Analysis
18.17.1. Value Proportion Analysis by Market Taxonomy
18.17.2. Value Analysis and Forecast by Market Taxonomy, 2017 to 2032
18.17.2.1. By Type
18.17.2.2. By Product Type
18.17.2.3. By End-User
18.17.2.4. By Accessories
18.17.3. Competition Landscape and Player Concentration in the Country
19. Market Structure Analysis
19.1. Market Analysis by Tier of Companies
19.2. Market Concentration
19.3. Market Share Analysis of Top Players
19.4. Market Presence Analysis
19.4.1. By Regional footprint of Players
19.4.2. Product footprint by Players
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Benchmarking
20.3. Competition Deep Dive
20.3.1. MEDTRONIC PLC
20.3.1.1. Overview
20.3.1.2. Product Portfolio
20.3.1.3. Sales Footprint
20.3.1.4. Strategy Overview
20.3.2. HOFFMANN-LA ROCHE LTD
20.3.2.1. Overview
20.3.2.2. Product Portfolio
20.3.2.3. Sales Footprint
20.3.2.4. Strategy Overview
20.3.3. TANDEM DIABETIC CARE, INC.
20.3.3.1. Overview
20.3.3.2. Product Portfolio
20.3.3.3. Sales Footprint
20.3.3.4. Strategy Overview
20.3.4. INSULET CORPORATION
20.3.4.1. Overview
20.3.4.2. Product Portfolio
20.3.4.3. Sales Footprint
20.3.4.4. Strategy Overview
20.3.5. YPSOMED
20.3.5.1. Overview
20.3.5.2. Product Portfolio
20.3.5.3. Sales Footprint
20.3.5.4. Strategy Overview
20.3.6. SOOIL DEVELOPMENT
20.3.6.1. Overview
20.3.6.2. Product Portfolio
20.3.6.3. Sales Footprint
20.3.6.4. Strategy Overview
20.3.7. VALERITAS, INC
20.3.7.1. Overview
20.3.7.2. Product Portfolio
20.3.7.3. Sales Footprint
20.3.7.4. Strategy Overview
20.3.8. JINGASUDELFU CO., LTD.
20.3.8.1. Overview
20.3.8.2. Product Portfolio
20.3.8.3. Sales Footprint
20.3.8.4. Strategy Overview
21. Assumptions and Acronyms Used
22. Research Methodology
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Insulin Pumps Market
