Rising Demand and Technological Advancements Drive Growth in the Implantable Insulin Pump Market

PORTLAND, OREGON, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- The global Implantable Insulin Pump Market was pegged at $2.67 billion in 2020, and is estimated to reach $6.44 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030.

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Global Implantable Insulin Pump Market: Drivers, Challenges, and Opportunities

The global implantable insulin pump market is experiencing growth driven by factors such as the rising prevalence of diabetes worldwide, increased government healthcare expenditure, and sedentary lifestyles. However, stringent government regulations present challenges to market growth. On a positive note, emerging markets offer high growth potential, opening new avenues for market players in the future.

Impact of Covid-19 on the Implantable Insulin Pump Market:

The Covid-19 pandemic has had a significant impact on various industries, including healthcare. The demand for implantable insulin pumps surged during the pandemic, given their essential role in diabetes management.

Complications arising from Covid-19, such as pneumonia, ketoacidosis, dehydration, and elevated blood sugar levels, heightened the need for effective treatments for these chronic symptoms. This situation contributed to the market's growth.

Market Segmentation:

The global implantable insulin pump market is segmented based on type, disease, end user, and region.

Type: The open-loop insulin pump segment dominated the market in 2020, accounting for approximately 88% of the market share. This segment is projected to grow at a CAGR of 9.3% from 2021 to 2030. The closed-loop insulin pump segment is also analyzed in the report.

End User: Hospitals constituted the largest segment in 2020, contributing to about two-thirds of the market. However, the home care segment is expected to register the highest CAGR of 9.6% during the forecast period.

Regional Analysis:

The global implantable insulin pump market is studied across regions including North America, Europe, Asia-Pacific, and LAMEA.

North America: Dominated the market in 2020 with nearly two-fifths of the revenue share.

Asia-Pacific: Expected to exhibit the highest CAGR of 11.5% during the forecast period.

Key Players:

The report provides an in-depth analysis of the leading market players, including:

CVS Health (Aetna Inc.)
Apex Medical
Diamesco Co., Ltd
Diabeloop
Insulet Corporation
F. Hoffmann La Roche Ltd
Medtronic Plc
Johnson & Johnson
SOOIL Developments Co. Ltd
Tandem Diabetes Care

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