The
global insulin patch pumps market size is expected to
reach USD 1.7 Billion by 2027, according to a new report by Grand View
Research, Inc., exhibiting a CAGR of 10.9% over the forecast period. The market
is primarily driven by factors such as increasing diabetic population and
rising awareness about advanced diabetes management solutions. Moreover,
technological advancements and several product launches in the field of insulin
patch pumps are further augmenting growth.
Patch
pumps are easy to use and more convenient than conventional insulin pumps. In
addition, they are more affordable than conventional insulin pumps and are
rapidly capturing a significant share of the insulin patch pumps market. Key
players are using novel technologies and offer user-friendly insulin delivery
solutions at lower prices. This is expected to increase the frequency of
product launches during the forecast period, boosting overall growth.
Increasing
healthcare expenditure related to diabetes and rising number of FDA approvals
are further aiding growth. For instance, in March 2019, a South Korean
Company-EoFlow-received FDA approval for its newly designed patch pump-EoPatch
in the U.S.
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Insulin Patch Pumps
Market Report Highlights
- North America accounted for
the largest share in 2019, owing to favorable reimbursement policies and
launch of several innovative patch pumps
- Asia Pacific is expected to
see robust growth during the forecast period, owing to the increasing
diabetic population coupled with rising awareness about diabetes
preventive care
- By delivery mode, basal
& bolus segment dominated in 2019, owing to wide usage of these
therapy in both type1 and type 2 diabetes patients
- By product type, the
reusable segment is dominating the insulin patch pumps market due to
increasing adoption of these devices
- By distribution channel, the
hospital segment dominated in 2019 due to expansion of the integrated
delivery network
- Some of the leading players
are Medtronic Plc; Roche Diagnostics; Valeritas; Cellnovo Ltd.; Insulet
Corporation; and CeQur.
- Mergers and acquisitions are
the primary expansion techniques used by these players.
- For instance, in July 2018,
CeQur purchased a certain asset from Calibra Medical-a subsidiary of
Johnson & Johnson. This acquisition helped CeQur gain an exclusive
license for Calibra’s wearable insulin delivery system product.
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Insulin Patch Pumps
Market Segmentation
Grand View Research has segmented
the global insulin patch pumps market on the basis of delivery mode, product
type, distribution channel, and region:
Insulin Patch
Pumps Delivery Mode Outlook (Volume Units; Revenue USD Million, 2016 -
2027)
- Basal
- Bolus
- Basal & Bolus
Insulin Patch
Pumps Product Type Outlook (Volume Units; Revenue, USD Million, 2016 -
2027)
- Disposable
- Reusable
Insulin Patch
Pumps Distribution Channel Outlook (Volume Units; Revenue USD Million,
2016 - 2027)
- Hospitals
- Retail Pharmacies
- Private Clinics
- Online Pharmacies
- Others
Insulin Patch Pumps
Regional Outlook (Volume Units; Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Czech Republic
- Russia
- Poland
- Turkey
- Switzerland
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Vietnam
- Philippines
- Malaysia
- Indonesia
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Oman
- Egypt
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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