The growing prevalence of diabetes is one of the significant factors influencing market growth.

The global insulin pumps market is expected to reach USD 10.25 Billion by 2028, according to a new report by Reports and Data. Insulin pumps are used for insulin therapy and is used for the treatment of patients with all types of diabetes.

The need for insulin therapy depends upon the balance between insulin resistance and insulin secretion. Patients with type 1 diabetes require insulin treatment permanently unless they receive a whole organ pancreas transplant or an islet. Type 2 diabetes patients require insulin as their beta-cell function lowers over time.

Diabetes and its complications, societal costs, and deaths have a huge and rapidly growing impact across the globe. In 2019: approximate 463 million adults (20-79 years) were living with diabetes, and by 2045, this is expected to rise to 700 million. A growing number of diabetic patients are propelling the demand for insulin.

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The global pharma healthcare market revenue growth is majorly driven by factors such as rising prevalence of chronic and acute diseases globally, rise in global geriatric population, growing awareness of health wellness among consumers, and growing demand for advanced medications and therapeutics. Growing need for advanced, patient-centered healthcare services, increasing availability of advanced point-of-care diagnostics, increasing biotechnological and pharmaceutical research development activities and clinical trials, and rise in public and private investments in the healthcare industry are some of the other major factors supporting market revenue growth. Market revenue growth is further driven by factors such as rising cases of the novel coronavirus disease, rising focus on development of rapid COVID-19 diagnostics including the RT-PCR test kits, increasing government intiatives towards manufacturing and distribution of COVID-19 vaccines, rising trends of telehealth and telemedicine, and growing need for remote patient care monitoring solutions.

Leading Players in the Global Pharma Healthcare Market:

Animus Corporation, Asante, Insulet Corporation, Nipro Diagnostic Inc., Cellnovo Ltd., Ypsomed Group, Medtronics Inc., Tandem Diabetes Care Inc., Roche, and Valeritas, among others.

Regional Outlook of the Global Insulin Pumps Market:

Under this section of the report, the authors comprehensively analyze the key regional markets in the global Insulin Pumps market. This section accurately evaluates the revenue shares and year-on-year revenue growth rate of these regional markets. Key regional markets encompassed in the report include North America, Europe, Asia Pacific, Latin America, and the Middle East Africa.

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Detailed Regional Market Segmentation

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • K.
  • Italy
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East Africa
  • Saudi Arabia
  • A.E.
  • South Africa
  • Rest of MEA

Further key findings from the report suggest

• By product, traditional insulin pumps dominated the market share in 2020 and is likely to experience a growth rate of 8.9% in the forecast period. The growth of these type of pumps is primarily owing to their better reliability and high availability of the product.
• By accessories, the insulin set insertion device held the largest market share in 2020 and is estimated to witness a growth rate of 9.2% in the forecast period. The market dominance of this insulin pump accessory is attributed to its high usage frequency.
• By end-users, hospitals clinics dominated the market in 2020 and are projected to have a CAGR of 9.0% in the forecast period. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare facilities, increasing government funding, and rising private sector investments in the healthcare sector.
• North America dominated the market in 2020 and is anticipated to grow at a rate of 8.9% in the period 2019-2028. Rapid technological advancements, increasing prevalence of diabetes, and new product launches by market players, among others, are causative of the high market demand in the region.

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