Implantable Insulin Pump Market: Growth Drivers, Covid-19 Impact, and Future Opportunities | CAGR of 9.1% from 2021-2030

PORTLAND, OREGON, UNITED STATES, April 18, 2024 /EINPresswire.com/ -- Growth of the global implantable insulin pump market is driven by rise in use of implantable insulin pump devices in the diabetes 1 and diabetes 2 treatment across the globe. Furthermore, increase in innovations in implantable insulin pump products, and rise in number of product approvals are the other factors that contribute toward growth of the market.

The global implantable insulin pump market size was valued at $2,674 million in 2020, and is projected to reach $6,443 million by 2030, registering a CAGR of 9.1% from 2021 to 2030.

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Global Implantable Insulin Pump Market Overview:

The global implantable insulin pump market is experiencing growth due to factors such as the rising prevalence of diabetes worldwide, increased government spending on healthcare, and the adoption of sedentary and unhealthy lifestyles. These factors have collectively contributed to the growth of the market. However, stringent regulatory measures pose challenges to market expansion. Conversely, emerging markets offer significant growth opportunities for market participants in the coming years.

Impact of Covid-19:

The Covid-19 pandemic has had a profound impact on various industries globally, with the healthcare sector being one of the most affected. The pandemic led to an uptick in demand for implantable insulin pumps, as they play a crucial role in managing diabetes.

Complications arising from Covid-19, such as pneumonia, ketoacidosis, dehydration, and elevated blood sugar levels, have heightened the need for effective treatments for these chronic conditions. This increased demand has bolstered market 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 expected to continue its dominance, registering the highest CAGR of 9.3% from 2021 to 2030. The report also provides insights into the closed-loop insulin pump segment.

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

Regional Analysis:

The market is analyzed across four major regions: North America, Europe, Asia-Pacific, and LAMEA.

North America: This region led the market in 2020, accounting for nearly 40% of the total revenue.
Asia-Pacific: The Asia-Pacific region is projected to exhibit the highest CAGR of 11.5% during the forecast period, indicating substantial growth potential.

Key Players:

The report features an in-depth analysis of key 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, and Tandem Diabetes Care.

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David Correa
Allied Market Research
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