Press release
Insulin Patch Pumps Market Growth Is Set To Grow $2.16 Billion In 2028 At A Growth Rate (CAGR) Of 10.3%.
Insulin Patch Pumps
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the insulin patch pumps industry. This report on insulin patch pumps market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The insulin patch pumps market size has grown rapidly in recent years. It will grow from $1.32 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increased diabetes prevalence, patient preference for non-invasive delivery, increased geriatric population, increased safety concerns, miniaturization and improved form factors.
The insulin patch pumps market size is expected to see rapid growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to increasing adoption of telehealth, growth in pediatric diabetes cases, increasing diabetes awareness, environmental and sustainability concerns, rising healthcare initiatives. Major trends in the forecast period include quantum computing design tools, increasing integration of artificial intelligence and machine learning, adoption of digital twin simulations, advancements in custom IC design tools, growth in high-level synthesis tools.
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Key Market Players:
Cellnovo Group SA, Insulet Corporation, Medtronic PLC, Tandem Diabetes Care Inc., Hoffmann-La-Roche AG, AMF Medical SA, Animus Corp.
Market Drivers:
According to the Insulin Patch Pumps Market Report 2024 by The Business Research Company, Integration of the advanced technologies in insulin patch pumps is the key trend gaining popularity in the insulin patch pumps market. Insulin patch pumps are being integrated with the advanced technologies such as integration with a smartphone and enabling automation in insulin delivery. Continuous glucose monitors and traditional insulin pumps are evolving into smarter devices that can automate insulin delivery. These devices offer convenient and easy-to-use features while reducing manual intervention for insulin delivery. For instance, in January 2022, Insulet Corporation, a US-based innovative medical device company, announced the FDA clearance of its Omnipod 5 automated Insulin delivery system for people with type 1 diabetes aged 6 years and older. It is the first and only tubeless automated insulin delivery system with compatible smartphone control. It makes it easier than ever to manage glucose with no multiple daily injections, no tubes, and zero fingersticks to help simplify life with diabetes.
More information about the Global Insulin Patch Pumps Market Report - https://www.thebusinessresearchcompany.com/report/insulin-patch-pumps-global-market-report
Market segments for insulin patch pumps include:
1) By Type: Traditional Insulin Pumps, Smart Insulin Pump, Disposable Insulin Pumps
2) By Mode: Basal, Bolus
3) By Pump Type: Tethered Pump, Patch Pump
4) By Application: Type 1 Diabetes, Type 2 Diabetes
5) By End-User: Hospital, Clinics, Laboratories, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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