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 USD 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 USD 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) | USD 5.5 billion |
| Global Insulin Pumps Market (2032) | USD 14.8 billion |
| Global Insulin Pumps Market CAGR (2022 to 2032) | 10.3% |
| The USA Insulin Pumps Market (2022) | 8.5% |
| Key Companies Profiled | Medtronic plc; Hoffmann-La Roche Ltd; Tandem Diabetic Care, Inc.; Insulet Corporation; Ypsomed; Cellenovo; Sooil Development; Valeritas, Inc; JingasuDelfu Co., Ltd. |
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.
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 USD 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 USD 2 billion from 2022 to 2032.
The market in The United Kingdom is expected to grow from USD 269 million to reach a valuation of USD 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 USD 506 million from 2022 to 2032.
The market in Japan is likely to reach USD 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 USD 553 million.
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:
Table 1: Global Market Value (US$ million), By Type, 2017 to 2021
Table 2: Global Market Value (US$ million), By Type, 2022 to 2032
Table 3: Global Market Value (US$ million), By Product Type, 2017 to 2021
Table 4: Global Market Value (US$ million), By Product Type, 2022 to 2032
Table 5: Global Market Value (US$ million), By Accessories, 2017 to 2021
Table 6: Global Market Value (US$ million), By Accessories, 2022 to 2032
Table 7: Global Market Value (US$ million), By End-User, 2017 to 2021
Table 8: Global Market Value (US$ million), By End-User, 2022 to 2032
Table 9: Global Market, By Region, 2017 to 2021
Table 10: Global Market, By Region, 2022 to 2032
Table 11: North America Market Value (US$ million), By Type, 2017 to 2021
Table 12: North America Market Value (US$ million), By Type, 2022 to 2032
Table 13: North America Market Value (US$ million), By Product Type, 2017 to 2021
Table 14: North America Market Value (US$ million), By Product Type, 2022 to 2032
Table 15: North America Market Value (US$ million), By Accessories, 2017 to 2021
Table 16: North America Market Value (US$ million), By Accessories, 2022 to 2032
Table 17: North America Market Value (US$ million), By End-User, 2017 to 2021
Table 18: North America Market Value (US$ million), By End-User, 2022 to 2032
Table 19: North America Market, By Country, 2017 to 2021
Table 20: North America Market, By Country, 2022 to 2032
Table 21: Latin America Market Value (US$ million),By Type, 2017 to 2021
Table 22: Latin America Market Value (US$ million), By Type, 2022 to 2032
Table 23: Latin America Market Value (US$ million), By Product Type, 2017 to 2021
Table 24: Latin America Market Value (US$ million), By Product Type, 2022 to 2032
Table 25: Latin America Market Value (US$ million), By Accessories, 2017 to 2021
Table 26: Latin America Market Value (US$ million), By Accessories, 2022 to 2032
Table 27: Latin America Market Value (US$ million), By End-User, 2017 to 2021
Table 28: Latin America Market Value (US$ million), By End-User, 2022 to 2032
Table 29: Latin America Market, By Country, 2017 to 2021
Table 30: Latin America Market, By Country, 2022 to 2032
Table 31: Europe Market Value (US$ million),By Type, 2017 to 2021
Table 32: Europe Market Value (US$ million),By Type, 2022 to 2032
Table 33: Europe Market Value (US$ million), By Product Type, 2017 to 2021
Table 34: Europe Market Value (US$ million), By Product Type, 2022 to 2032
Table 35: Europe Market Value (US$ million), By Accessories, 2017 to 2021
Table 36: Europe Market Value (US$ million), By Accessories, 2022 to 2032
Table 37: Europe Market Value (US$ million), By End-User, 2017 to 2021
Table 38: Europe Market Value (US$ million), By End-User, 2022 to 2032
Table 39: Europe Market, By Country, 2017 to 2021
Table 40: Europe Market, By Country, 2022 to 2032
Table 41: Asia Pacific Market Value (US$ million),By Type, 2017 to 2021
Table 42: Asia Pacific Market Value (US$ million),By Type, 2022 to 2032
Table 43: Asia Pacific Market Value (US$ million), By Product Type, 2017 to 2021
Table 44: Asia Pacific Market Value (US$ million), By Product Type, 2022 to 2032
Table 45: Asia Pacific Market Value (US$ million), By Accessories, 2017 to 2021
Table 46: Asia Pacific Market Value (US$ million), By Accessories, 2022 to 2032
Table 47: Asia Pacific Market Value (US$ million), By End-User, 2017 to 2021
Table 48: Asia Pacific Market Value (US$ million), By End-User, 2022 to 2032
Table 49: Asia Pacific Market, By Country, 2017 to 2021
Table 50: Asia Pacific Market, By Country, 2022 to 2032
Table 51: MEA Market Value (US$ million), By Type, 2017 to 2021
Table 52: MEA Market Value (US$ million), By Type, 2022 to 2032
Table 53: MEA Market Value (US$ million), By Product Type, 2017 to 2021
Table 54: MEA Market Value (US$ million), By Product Type, 2022 to 2032
Table 55: MEA Market Value (US$ million), By Accessories, 2017 to 2021
Table 56: MEA Market Value (US$ million), By Accessories, 2022 to 2032
Table 57: MEA Market Value (US$ million), By End-User, 2017 to 2021
Table 58: MEA Market Value (US$ million), By End-User, 2022 to 2032
Table 59: MEA Market, By Country, 2017 to 2021
Table 60: MEA Market, By Country, 2022 to 2032
Figure 1: Global Market Value (US$ million) and Year-on-Year Growth, 2017 to 2032
Figure 2: Global Market Absolute $ Historical Gain (2017 to 2021) and Opportunity (2022 to 2032), US$ million
Figure 3: Global Market Share, By Type, 2022 to 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Type - 2022 to 2032
Figure 6: Global Market Share, By Product Type, 2022 to 2032
Figure 7: Global Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 8: Global Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 9: Global Market Share, By End-User, 2022 to 2032
Figure 10: Global Market Y-o-Y Growth Projections, By End-User - 2022 to 2032
Figure 11: Global Market Attractiveness Index, By End-User - 2022 to 2032
Figure 12: Global Market Share, By Accessories, 2022 to 2032
Figure 13: Global Market Y-o-Y Growth Projections, By Accessories - 2022 to 2032
Figure 14: Global Market Attractiveness Index, By Accessories - 2022 to 2032
Figure 15: Global Market Share, By Region, 2022 to 2032
Figure 16: Global Market Y-o-Y Growth Projections, By Region - 2022 to 2032
Figure 17: Global Market Attractiveness Index, By Region - 2022 to 2032
Figure 18: North America Market Value (US$ million) and Year-on-Year Growth, 2017 to 2032
Figure 19: North America Market Absolute $ Opportunity Historical (2017 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 20: North America Market Share, By Type, 2022 to 2032
Figure 21: North America Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 22: North America Market Attractiveness Index, By Type - 2022 to 2032
Figure 23: North America Market Share, By Product Type, 2022 to 2032
Figure 24: North America Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 25: North America Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 26: North America Market Share, By End-User, 2022 to 2032
Figure 27: North America Market Y-o-Y Growth Projections, By End-User - 2022 to 2032
Figure 28: North America Market Attractiveness Index, By End-User - 2022 to 2032
Figure 29: North America Market Share, By Accessories, 2022 to 2032
Figure 30: North America Market Y-o-Y Growth Projections, By Accessories - 2022 to 2032
Figure 31: North America Market Attractiveness Index, By Accessories - 2022 to 2032
Figure 32: North America Market Share, By Country, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 34: North America Market Attractiveness Index, By Country - 2022 to 2032
Figure 35: Latin America Market Value (US$ million) and Year-on-Year Growth, 2017 to 2032
Figure 36: Latin America Market Absolute $ Opportunity Historical (2017 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 37: Latin America Market Share, By Type, 2022 to 2032
Figure 38: Latin America Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 39: Latin America Market Attractiveness Index, By Type - 2022 to 2032
Figure 40: Latin America Market Share, By Product Type, 2022 to 2032
Figure 41: Latin America Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 42: Latin America Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 43: Latin America Market Share, By End-User, 2022 to 2032
Figure 44: Latin America Market Y-o-Y Growth Projections, By End-User - 2022 to 2032
Figure 45: Latin America Market Attractiveness Index, By End-User - 2022 to 2032
Figure 46: Latin America Market Share, By Accessories, 2022 to 2032
Figure 47: Latin America Market Y-o-Y Growth Projections, By Accessories - 2022 to 2032
Figure 48: Latin America Market Attractiveness Index, By Accessories - 2022 to 2032
Figure 49: Latin America Market Share, By Country, 2022 to 2032
Figure 50: Latin America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 51: Latin America Market Attractiveness Index, By Country - 2022 to 2032
Figure 52: Europe Market Value (US$ million) and Year-on-Year Growth, 2017 to 2032
Figure 53: Europe Market Absolute $ Opportunity Historical (2017 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 54: Europe Market Share, By Type, 2022 to 2032
Figure 55: Europe Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 56: Europe Market Attractiveness Index, By Type - 2022 to 2032
Figure 57: Europe Market Share, By Product Type, 2022 to 2032
Figure 58: Europe Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 59: Europe Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 60: Europe Market Share, By End-User, 2022 to 2032
Figure 61: Europe Market Y-o-Y Growth Projections, By End-User - 2022 to 2032
Figure 62: Europe Market Attractiveness Index, By End-User - 2022 to 2032
Figure 63: Europe Market Share, By Accessories, 2022 to 2032
Figure 64: Europe Market Y-o-Y Growth Projections, By Accessories - 2022 to 2032
Figure 65: Europe Market Attractiveness Index, By Accessories - 2022 to 2032
Figure 66: Europe Market Share, By Country, 2022 to 2032
Figure 67: Europe Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 68: Europe Market Attractiveness Index, By Country - 2022 to 2032
Figure 69: MEA Market Value (US$ million) and Year-on-Year Growth, 2017 to 2032
Figure 70: MEA Market Absolute $ Opportunity Historical (2017 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 71: MEA Market Share, By Type, 2022 to 2032
Figure 72: MEA Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 73: MEA Market Attractiveness Index, By Type - 2022 to 2032
Figure 74: MEA Market Share, By Product Type, 2022 to 2032
Figure 75: MEA Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 76: MEA Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 77: MEA Market Share, By End-User, 2022 to 2032
Figure 78: MEA Market Y-o-Y Growth Projections, By End-User - 2022 to 2032
Figure 79: MEA Market Attractiveness Index, By End-User - 2022 to 2032
Figure 80: MEA Market Share, By Accessories, 2022 to 2032
Figure 81: MEA Market Y-o-Y Growth Projections, By Accessories - 2022 to 2032
Figure 82: MEA Market Attractiveness Index, By Accessories - 2022 to 2032
Figure 83: MEA Market Share, By Country, 2022 to 2032
Figure 84: MEA Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 85: MEA Market Attractiveness Index, By Country - 2022 to 2032
Figure 86: Asia Pacific Market Value (US$ million) and Year-on-Year Growth, 2017 to 2032
Figure 87: Asia Pacific Market Absolute $ Opportunity Historical (2017 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 88: Asia Pacific Market Share, By Type, 2022 to 2032
Figure 89: Asia Pacific Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 90: Asia Pacific Market Attractiveness Index, By Type - 2022 to 2032
Figure 91: Asia Pacific Market Share, By Product Type, 2022 to 2032
Figure 92: Asia Pacific Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 93: Asia Pacific Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 94: Asia Pacific Market Share, By End-User, 2022 to 2032
Figure 95: Asia Pacific Market Y-o-Y Growth Projections, By End-User - 2022 to 2032
Figure 96: Asia Pacific Market Attractiveness Index, By End-User - 2022 to 2032
Figure 97: Asia Pacific Market Share, By Accessories, 2022 to 2032
Figure 98: Asia Pacific Market Y-o-Y Growth Projections, By Accessories - 2022 to 2032
Figure 99: Asia Pacific Market Attractiveness Index, By Accessories - 2022 to 2032
Figure 100: Asia Pacific Market Share, By Country, 2022 to 2032
Figure 101: Asia Pacific Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 102: Asia Pacific Market Attractiveness Index, By Country - 2022 to 2032
The global Insulin Pump market is worth more than USD 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.
Explore Similar Insights
Insulin Pumps Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
