Insulin pumps and accessories are class of medical devices used for administering insulin in a controlled, precise and automated manner.
These devices used in the treatment of diabetes mellitus know as continuous subcutaneous insulin infusion, these insulin systems help in avoiding medical errors which would lead to serious life-threatening circumstances or even sometimes to death of a patient.
Insulin pumps & accessories market is segmented on the basis of products, applications, end-users and geography. The insulin pumps & accessories products market is segmented into insulin pumps, consumables, among them insulin pumps held the largest share of the market with XX% in 2019 and are expected to grow at a high single digit CAGR of XX% from 2019 to 2026. Insulin pumps are further sub-segmented into tethered insulin pumps and patch insulin pumps. The tethered insulin pump accounted for the largest share of XX% in 2019 and is expected to grow at a mid single digit CAGR of XX% from 2019 to 2026. Applications market is segmented into type 1 diabetes and type 2 diabetes, among them, the type 1 diabetes segment held the largest share of XX% in 2019 and is expected to be the fastest growing segment with a high single digit CAGR of XX% from 2019 to 2026. End-users market is classified into hospitals, ambulatory surgical centers, homecare and others. Among them, home healthcare commanded the largest share of XX% in 2019 and is expected to be the fastest growing segment with a high single digit CAGR of XX% from 2019 to 2026.
Geographically, North America is the largest market, with a share of XX% followed by Europe and Asia Pacific. The APAC region is the fastest growing region and is expected to grow at a high single digit CAGR of XX% from 2019 to 2026 presenting an array of opportunities for growth and is likely to get the attention of new investors in the insulin pumps & accessories market. Growth in the Asian market is attributed to rising prevalence of lifestyle diseases and government initiatives in establishing innovative technologies and demand for sophisticated medical services.
The insulin pumps & accessories market is expected to grow at a high single digit CAGR of XX% from 2019 to 2026. Increase in the prevalence of diabetes, technological advancements, adoption of insulin pumps over traditional methods and advantages of insulin pumps over the injections and pens are the factors driving the market growth. The increasing trend for wireless insulin pumps, emergence of smart pumps and market expansion in emerging nations and product approvals are expected to offer potential opportunities.
However, various factors like, high cost, patient safety risks and medication errors associated with insulin pumps, lack of cyber-security in wireless insulin pumps limit the growth of insulin pumps & accessories global market.
The insulin pumps & accessories global market is a highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares. Major players in insulin pumps & accessories market include F. Hoffmann-La Roche AG (Switzerland), Insulet Corporation (U.S.), Medtronic PLC (Ireland), Tandem Diabetes Care Inc. (U.S.), Valeritas Holdings Inc. (U.S.) and Ypsomed Holdings AG (Switzerland).
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America - U.S. - Rest of North America
• Europe - Germany - France - U.K. - Rest of Europe
• Asia-Pacific - Japan - China - India - Rest of APAC
• Rest of the World (RoW) - Brazil - Rest of Latin America - Middle East and Others
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