The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Insulin Patch Pumps Global Market Report 2024, the insulin patch pumps market is expected to show significant growth in the forecast period.

Stellar Growth Trajectory
The insulin patch pumps market has witnessed remarkable expansion, catapulting from $1.32 billion in 2023 to $1.46 billion in 2024, boasting a robust Compound Annual Growth Rate (CAGR) of 11.0%. The surge in the historic period is credited to various factors including increased diabetes prevalence, patient preference for non-invasive delivery, a growing geriatric population, heightened safety concerns, and the miniaturization of devices.

Anticipated Momentum
The market is poised for continued growth, expected to reach $2.16 billion in 2028, with a CAGR of 10.3%. Key drivers for this projected expansion include the increasing adoption of telehealth, a surge in pediatric diabetes cases, growing diabetes awareness, environmental and sustainability concerns, and the rise of healthcare initiatives. Noteworthy trends in the forecast period encompass quantum computing design tools, integration of artificial intelligence and machine learning, the adoption of digital twin simulations, advancements in custom IC design tools, and the growth in high-level synthesis tools.

Diabetes Prevalence as a Catalyst

• Global Diabetes Epidemic: The escalating prevalence of diabetes worldwide is a pivotal driver for the growth of the insulin patch pumps market.
• Need for Convenient Solutions: Insulin patch pumps offer a convenient delivery method, especially for individuals who find insulin injections cumbersome.
• Alarming Statistics: According to the International Diabetes Federation, approximately 537 million people aged 20 to 79 suffered from diabetes in 2021, with an estimated increase to 643 million by 2030.

Industry Leaders
Major companies spearheading the insulin patch pumps market include Cellnovo Group SA, Insulet Corporation, Medtronic PLC, Tandem Diabetes Care Inc., Hoffmann-La-Roche AG, and many others.

View More On The Insulin Patch Pumps Market Report 2024 – https://www.thebusinessresearchcompany.com/report/insulin-patch-pumps-global-market-report

Technological Integration

• Key Trend: The integration of advanced technologies is a prominent trend shaping the insulin patch pumps market.
• Smart Devices: Insulin patch pumps are evolving into smarter devices, integrating with smartphones and automating insulin delivery.
• FDA Clearance: Insulet Corporation’s Omnipod 5, with FDA clearance, exemplifies an automated insulin delivery system with compatible smartphone control.

Strategic Acquisitions

• Tandem Diabetes Care Inc. and AMF Medical SA: In January 2023, Tandem Diabetes Care Inc. acquired AMF Medical SA, a move aimed at expanding its portfolio in diabetes care through the incorporation of advanced insulin pump therapy.

Market Segmentation
The insulin patch pumps market is segmented based on:

• Type: Traditional Insulin Pumps, Smart Insulin Pump, Disposable Insulin Pumps
• Mode: Basal, Bolus
• Pump Type: Tethered Pump, Patch Pump
• Application: Type 1 Diabetes, Type 2 Diabetes
• End-User: Hospital, Clinics, Laboratories, Other End-Users

Regional Dynamics

• North America’s Dominance: In 2023, North America emerged as the largest region in the insulin patch pumps market.
• Asia-Pacific’s Growth: The Asia-Pacific region is expected to be the fastest-growing region in the forecast period.

In conclusion, the insulin patch pumps market is not only responding to the global surge in diabetes cases but is also leveraging technological advancements to offer more convenient and efficient solutions. As we witness a shift towards smarter devices and innovative healthcare initiatives, the future of diabetes care is promising, with insulin patch pumps leading the charge in revolutionizing patient experience and outcomes.

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