Insulin Patch Pump Market: Unleashing Size Potential with 10.5% CAGR Surge by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Insulin Patch Pump Market- by Product Type (Reusable and Disposable Pumps), End-Users (Hospitals, Online Pharmacies, Private Clinics, and Retail Pharmacies), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

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According to the latest research by InsightAce Analytic, the global Insulin Patch Pump market is valued at US$ 912.89 Million in 2023, and it is expected to reach US$ 2189.26 Million by 2031, with a CAGR of 10.5% during a forecast period of 2024-2031.

An insulin patch pump is an instrument used to administer insulin. An insulin patch pump is applied directly to the body, where it is surreptitiously attached thanks to the adhesive on the device. This adhesive is found on the insulin patch pump, making it simpler for patients to administer their insulin doses by removing the requirement for an infusion set and tubing to secure the pump to the body. Insulin patch pumps immediately distribute insulin from the patch, solving the problem of people skipping insulin doses.

The rapid expansion can be primarily attributable to variables such as rising diabetes prevalence and increased knowledge of advanced patch pumps. People with type 1 diabetes prefer insulin patch pumps because they eliminate the need to carry an insulin infusion set. Older people who work prefer patch pumps because of their greater convenience. In this arena, technological improvements and the use of artificial intelligence are likely to play a crucial role in the replacement of existing insulin delivery systems. Increased product launches and collaborations between key players and technology developers are projected to boost market rivalry. Diabetes' rising incidence and prevalence are predicted to create profitable prospects for sophisticated diabetes control technologies such as patch pumps.

North America is anticipated to be the major contributor to the Insulin Patch Pump market over the forecast years due to the availability of big brand insulin patch pumps. The industry is being fueled by an increase in the number of diabetic patients. Furthermore, rising healthcare spending and the increasing frequency of FDA approvals are boosting regional growth. Because of its strong adoption of novel technology and non-invasive treatments, the United States is the region's top market. In addition, the Asia Pacific Insulin Patch Pump market is expected to grow significantly during the forecast period due to reasons such as the region's fast-growing diabetic population and increased awareness of advanced digital diabetes care solutions. Furthermore, rising product launches and technological breakthroughs in the field of insulin patch pumps are likely to support regional expansion.

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Major market players operating in the Insulin Patch Pump market include
Medtronic Plc, Medtrum Technologies, Roche Diagnostic, Valerius, CeQur, Insulet Corporation, Cellnovo Ltd., Debiotech S.A., and Spring Health Solutions Ltd, among others.

Recent collaborations and agreements in the market:
• In Jaunary 2022, Insulet Corporation, a US-based revolutionary medical device business, announced that its Omnipod 5 automated Insulin administration system for persons with type 1 diabetes aged six years and older had been cleared by the FDA. It is the first and only tubeless automated insulin delivery system that a smartphone can control.
• In April 2020, Valeritas was purchased for $23 million by Zealand Pharma, a Danish biotechnology research business. Zealand Pharma's goal with this acquisition is to become a fully integrated biotech firm with a strong presence in the US diabetes industry and to offer the V-Go wearable insulin delivery device to help patients control their diabetes. Valeritas is a medical technology business established in the United States that provides novel drug delivery technologies.

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Market Segments
Global Insulin Patch Pump Market, by Product Type, 2024-2031 (Value US$ Mn)
• Disposable
• Reusable

Global Insulin Patch Pump Market, by End-User, 2024-2031 (Value US$ Mn)
• Hospitals
• Retail Pharmacies
• Private Clinics
• Online Pharmacies

Global Insulin Patch Pump Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Insulin Patch Pump Market, by Country, 2024-2031 (Value US$ Mn)
• U.S.
• Canada

Europe Insulin Patch Pump Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Insulin Patch Pump Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Insulin Patch Pump Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Insulin Patch Pump Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Insulin Patch Pump market
 To receive an industry overview and future trends of the Insulin Patch Pump market
 To analyze the Insulin Patch Pump market drivers and challenges
 To get information on the Insulin Patch Pump market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Insulin Patch Pump market industry

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