Tubeless Insulin Pump Market Opportunities and Major Key Players 2023

According to Precision Business Insights (PBI), latest report the global tubeless insulin pump market is estimated to be valued at USD 1,376.3 million in 2022 and is poised to grow at a significant CAGR of 24.9% from 2023-2029. The rising prevalence of diabetes and patients' preference for tubeless insulin pumps over traditional invasive insulin pumps are expected to drive the growth of the worldwide tubeless insulin pump market during the study period. Furthermore, increased government activities in various countries to create awareness about Medicare policies and diabetes control are expected to drive market expansion. Again, ongoing technical improvements in tubeless insulin pumps are expected to create enormous potential prospects for the global market in the coming years. In contrast, the increased risk of diabetic and the high prices of tubeless insulin pumps may limit market expansion throughout the projection period.

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The Homecare Additives Segment is Dominating the Tubeless Insulin Pump Market:
The Homecare segment is expected to account for a larger revenue share and the market is expected to grow at a double-digit growth rate over the forecast years because of increased product acceptance and consumer preference, the higher performance of tubeless insulin pumps over traditional multiple daily injection (MDI) treatment will propel the industrial landscape. Thus, tubeless insulin pumps' greater effectiveness and growing preference boost their use in home care settings.

The global tubeless insulin pump market is segmented by product, end-user, and geography:
By Product Type
• Animas Insulin Pumps
• Medtronic Insulin Pumps

By End-use
• Homecare
• Hospitals
• Clinics

By Geography
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)

The Asia Pacific Leads Tubeless Insulin Pump Market:
The Asia Pacific is expected to hold a significant market share in the global Tubeless Insulin Pump market and is projected to grow at a prominent growth rate over the forecast years. Because of advancements in diabetic treatment products and rising diabetes prevalence in the region, Asia-Pacific is predicted to develop quickly and profitably during the forecast period, owing to increased government initiatives to raise awareness about proper diabetes care in the area throughout the forecast period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Global Tubeless Insulin Pump market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region.

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Key player's profiles in the tubeless insulin pump market report are Insulet Corporation, Johnson & Johnson, Medtrum Technologies, Cellnova, Roche Holdings, Spring Health Solutions, Debiotech, CeQur, Valeritas Holding, Abbott Diabetes Care, Medtronic Plc. Tandem Diabetes Care, Insulet Corporation, Animas Corporation, Others.

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This release was published on openPR.