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Insulin Pump Market Trends

Report ID: GMI7983
Published Date: Jan 2024
Report Format: PDF

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Insulin Pump Market Trends

Technological advancements in insulin pumps are transforming diabetes management. Engineers are developing smaller, more discreet pumps with improved accuracy and connectivity features. These pumps are used for continuously monitoring glucose levels and adjusting insulin delivery in real-time for providing users with greater control and flexibility. In addition, researchers are integrating cutting-edge technologies into insulin pump systems for enabling predictive algorithms to anticipate glucose fluctuations and prevent hypoglycemia or hyperglycemia before they occur. This ongoing innovation will enhance the quality of life for individuals living with diabetes by offering more personalized and proactive treatment solutions.

For instance, in May 2023, the FDA cleared a new insulin pump along with algorithm-based software for facilitating enhanced automatic insulin delivery. This development marked a significant step forward in diabetes management to offer improved precision and convenience for patients.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The insulin pump market size was valued at over USD 5.2 billion in 2023 and is expected to witness 12.4% CAGR from 2024 to 2032, led by increasing collaborations with technology firms, research institutions, and healthcare providers to enhance device innovation.

The home care segment of market held a robust growth in 2023 and is expected to record 12.7% CAGR through 2032, due to increasing usage at homes for providing patients with greater autonomy in managing their diabetes.

North America insulin pump market held a decent market share in 2023 and is predicted to record over USD 6 billion by 2032, due to the rising geriatric population and supportive reimbursement policies.

Debiotech S.A., F. Hoffmann La, Insulet Corporation, Lenomed Medical, Nipro Corporation, Medtronic plc, Roche AG, MicroPort , Scientific Corporation among others.