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Insulin Patch Pump Market Key Players Analysis - Medtronic Plc, Roche Diagnostic, Valerius, CeQur, Debiotech S.A.
Insulin Patch Pump Market
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 the year 2031, with a CAGR of 10.5 % during a forecast period of 2024-2031.
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An insulin patch pump is a device designed to administer insulin directly to the body through an adhesive patch, eliminating the need for an infusion set and tubing. This system allows for discreet and convenient insulin delivery, addressing the issue of missed doses. The market for insulin patch pumps is experiencing rapid growth, driven by factors such as the rising prevalence of diabetes and increasing awareness of advanced insulin delivery systems.
Patients with type 1 diabetes particularly favor patch pumps for their ease of use, while older individuals, including those in the workforce, value the convenience they offer. Technological advancements, including the integration of artificial intelligence, are expected to significantly influence the evolution of insulin delivery systems, replacing traditional methods. Additionally, an increase in product launches and collaborations between key industry players and technology developers is expected to intensify market competition. The growing incidence of diabetes is anticipated to create lucrative opportunities for advanced diabetes management solutions like insulin patch pumps.
North America is projected to be the dominant contributor to the insulin patch pump market during the forecast period, driven by the availability of leading brand-name devices and a growing diabetic population. Rising healthcare expenditure and an increasing number of FDA approvals are further supporting market growth. The United States, with its strong adoption of innovative technologies and non-invasive treatments, is expected to lead the region. In parallel, the Asia-Pacific insulin patch pump market is set to experience significant growth, fueled by the region's rapidly expanding diabetic population and heightened awareness of advanced digital diabetes care solutions. Moreover, ongoing product innovations and technological advancements in insulin patch pumps are expected to propel market expansion in the region.
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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 $23 million by Zealand Pharma, a Danish biotechnology research business. Zealand Pharma's goal with this acquisition is to become a fully integrated biotech firm with a strong presence in the US diabetes industry and to offer the V-Go wearable insulin delivery device to help patients control their diabetes. Valeritas is a medical technology business established in the United States that provides novel drug delivery technologies.
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Market Segments
Global Insulin Patch Pump Market, by Product Type, 2022-2030 (Value US$ Mn)
• Disposable
• Reusable
Global Insulin Patch Pump Market, by End-User, 2022-2030 (Value US$ Mn)
• Hospitals
• Retail Pharmacies
• Private Clinics
• Online Pharmacies
Global Insulin Patch Pump Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Insulin Patch Pump Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Insulin Patch Pump Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Insulin Patch Pump Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Insulin Patch Pump Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Insulin Patch Pump Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Read Overview Report- https://www.insightaceanalytic.com/report/global-insulin-patch-pump-market/1056
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
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
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info@insightaceanalytic.com
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