Market Research Future (MRFR) analysed the insulin pump market 2020 for the assessment period 2016 to 2023. By 2023, the insulin pumps market can expand at 8.4?GR. The insulin pump market value can expand at USD 8520.9 Mn on the conclusion of the review period. The increase in sales of smart insulin pumps among the growing diabetic populace can increase the market size through the review period. The insulin pump market can be attributed to the need to maintain regularity of insulin shots. Insulin pumps are user-friendly and thus, easy administration of facility offered by insulin pumps to control the blood glucose level in patient can favor the market.
The introduction of innovative glucose sensors that can observe and forecast blood glucose levels of patients offers great advantage to diabetic patients, which, in turn, is observed to boost sales of insulin pumps.
This is expected to favor the market. Research & development in medical science, technological advances, and launch of better sugar level detection sensors are other causes that are likely to augment the insulin pumps market through the evaluation period.
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Key Players
Becton Dickinson (USA), Abbott Laboratories (USA), F. Hoffmann-La Roche AG (Switzerland), Braun Melsungen AG (Germany), Medtronics (Ireland), Insulet Corporation (USA), and Sanofi (France) among others are some prominent names in the insulin pump market that are profiled by MRFR.
Market Segmentation
The global insulin pump market segmentation covers end-users and types.
Regional Analysis
In North America, the insulin pumps market can rise as sensor-driven insulin pumps are observed to gain high popularity. The development of complete automation of insulin pumps that are independent of sensing and delivery system are identified to gain high traction. This can bolster the insulin pump market in the North America region. Other important factors that can support the insulin pump market are rise in the prevalence of diabetes, resulting in increased demand for insulin pumps. In Europe, the high consumption of junk food, following the adoption of sedentary lifestyle are boosting diabetic populace market that can support the expansion of the insulin pump market across the review period.
In APAC, the insulin pump market can rise exponentially as the prevalence of diabetes across regions, such as India, Malaysia, Indonesia, and Taiwan can promote the expansion of the insulin pump market in the assessment period.
The improving medical base in these regions can add momentum to APAC insulin pump market growth. The escalation of disposable income and easy availability of better medical solutions, following healthcare awareness can set the regional market to thrive.
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In MEA, the insulin pump is expected to secure smallest share of the worldwide market. Lack of emphasis on improving healthcare facilities and limited availability of technology can cause the insulin pump market to slow down. The lack of awareness and stringent government policies are some other constraints on the regional insulin pump market.
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