Insulin Pumps Market worth USD 8,264.01 million by 2025

Insulin Pumps Market Analysis Size, Growth rate and Overview:

Insulin Pumps Market was valued at USD 3,822.44 million in 2017 and is expected to reach almost USD 8,264.01 million by the end of 2025, growing at a CAGR of around 10.5% over the predicted period.

The insulin pumps market is aimed to describe, define and estimate the forecast for market size of the insulin pumps till 2025. The report strategically analyzes macro and micro-markets to entail the major factors impacting the growth of the global insulin pumps market. The insulin pumps market report for insulin pumps is appropriate to cater the needs and demands of various stakeholders that include manufacturers, distributors and suppliers of insulin pumps, public and private hospitals, academic medical centers and teaching hospitals, privately practicing physicians and surgeons, medical institutes, pharmacies, ambulatory surgical centers and other distribution channels.

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Insulin Pumps Market Key Drivers, Challenges, and Opportunities:

Demand is expected to increase the global market due to a number of factors including increasing prevalence, diabetes, geriatric population escalation and increase in public awareness of availability of insulin pumps.  On the other hand, high costs, inadequate reimbursement guidelines and the availability of alternatives are some of the factors that cause the market for insulin pumps not to reach its true potential. Although the future of the global market for insulin pumps is bright, obstacles could arise in the next few years due to this high cost and maintenance of an insulin pump. The growing number of counterfeit goods may also hamper the growth of this market in the coming years.

However, advances in insulin pumps and the proliferation of traditional methods are some of the factors that are opening up new opportunities for sellers in this market. Currently, the consumption of insulin pumps is comparatively superior to other products in this market thanks to its easy availability. It is expected that the efficiency of these pumps will continue to reduce their demand in the coming years.

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Insulin Pumps Market – Regional Presence:

North America is becoming more lucrative among the five major regions, which includes Asia-Pacific, Latin America, Europe and the Middle East and Africa. In 2016, North America accounted for 64.1% of global demand, reflecting the high prevalence of diabetes in the US as well as sophisticated health infrastructures and well-defined public health reimbursement policies, and private and diabetes prevalence number of specialized centres for diabetes care. Europe remains the second most profitable region in the market for insulin pumps.

However, it is expected that the heavily populated Asia-Pacific region will host two of the most promising emerging economies in India and China, making it a profitable region towards the end of the forecasting period. In the current scenario, the world market for insulin pumps is naturally fragmented, with some companies taking the top position. In the near future, product development, alliances with diabetes centres and geographic expansion are expected to help market leaders outperform their competitors.

Some of the Key Players Profiled in this Insulin Pumps Market Report are:

Medtronic, F. Hoffmann-La Roche Ltd., Cellnovo Group SA, Animas Corporation (Johnson & Johnson), Insulet Corporation, Tandem Diabetes Care, Inc., Ypsomed AG, and Jiangsu Delfu Co., Ltd.

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