What Is The Insulin Patch Pumps Market Overview In 2022?
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The insulin patch pumps market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!
Read More On The Insulin Patch Pumps Market Report 2022 – https://www.thebusinessresearchcompany.com/report/insulin-patch-pumps-global-market-report
The Insulin Patch Pumps Market Size In 2022 And Forecast
The global insulin patch pumps market is expected to grow from $1.10 billion in 2021 to $1.18 billion in 2022 at a compound annual growth rate (CAGR) of 7.24%. The global insulin patch pump market size is expected to reach $1.63 billion in 2026 at a CAGR of 8.58%.
The insulin patch pumps market consists of sales of insulin patch pumps devices by entities (organizations, sole traders, and partnerships) that are small, computerized devices with pre-programmed delivery of insulin dosage to a diabetic patient to conveniently manage their blood sugar.
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The Rise In Prevalence Of Diabetes Globally Is Driving The Growth Of The Insulin Patch Pumps Market
For instance, according to the International Diabetes Federation, in 2021, around 537 million people in the age group between 20 to 79 years are suffering from diabetes and these numbers are estimated to reach 643 million by 2030. In 2021, around 6.7 million people died due to diabetes. Therefore, the rising prevalence of diabetes across the globe will propel the growth of the insulin patch pumps market.
Competitive Landscape And The Regional Analysis Of The Insulin Patch Pumps Market
Major players in the insulin patch pumps market are Cellnovo, Insulet Corporation, Medtronic Plc, Tandem Diabetes Care Inc, Hoffmann-La-Roche AG, Cequr SA, Animus Corp, Ypsomed, Abbott Laboratories Inc, Becton, Dickinson and Company, Braun Melsungen AG, Sanofi, Eoflow, Johnson & Johnson, Zealand Pharma and Debiotech SA.
Additionally, as per TBRC’s research – North America was the largest region in the insulin patch pumps market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Insulin Patch Pumps Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the insulin patch pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the insulin patch pumps market.
Integration Of The Advanced Technologies – A Key Trend In The Insulin Patch Pumps Market
Insulin patch pumps are being integrated with the advanced technologies such as integration with a smartphone and enabling automation in insulin delivery. Continuous glucose monitors and traditional insulin pumps are evolving into smarter devices that can automate insulin delivery. These devices offer convenient and easy-to-use features while reducing manual intervention for insulin delivery.
Insulin Patch Pumps Market Segmentation By The Business Research Company
1) By Type: Traditional Insulin Pumps, Smart Insulin Pump, Disposable Insulin Pumps
2) By Mode: Basal, Bolus
3) By Pump Type: Tethered Pump, Patch Pump
4) By Application: Type 1 Diabetes, Type 2 Diabetes
5) By End-User: Hospital, Clinics, Laboratories, Others
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