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Implantable Insulin Pump market 2024-2032
PORTLAND, GA, UNITED STATES, November 5, 2024 /EINPresswire / -- The global Implantable Insulin Pump Market was pegged at $2.67 billion in 2020, and is estimated to reach $6.44 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030.
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Growth of the global implantable insulin pump market is driven by rise in use of implantable insulin pump devices in the
diabetes 1 and diabetes 2
treatment across the globe. Furthermore, increase in innovations in implantable insulin pump products, and rise in number of product approvals are the other factors that contribute toward growth of the market.
Rise in prevalence of diabetes across the globe, surge in government expenditure on healthcare, and sedentary and unhealthy lifestyle drive the global implantable insulin pump market. However, stringent government regulations hinder the market growth. On the contrary, high market growth potential in emerging markets would open new opportunities for the market players in the future.
The implantable insulin pump is a pump that is surgically implanted under the skin and catheter from the insulin pump extends into the peritoneal cavity. The peritoneal cavity has an abundant supply of blood vessels and therefore, absorption of insulin is very efficient in this cavity. These insulin pumps work according to the blood glucose concentration i.e. lower the blood glucose, lower is the concentration of insulin released and higher the blood glucose, higher is the concentration of insulin released. Emergence of such healthcare- technologies have addressed high need for better diagnostics as compared to current insulin supply, as it reduces diabetes related stress, decreases the need for regular blood tests, eliminates the need for insulin supplements, and prevents carbohydrate counting.
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On the basis of end user, the hospitals segment held the largest share in 2020, contributing to nearly two-thirds of the market. However, the home care segment is projected to register the highest CAGR of 9.6% during the forecast period.
The global implantable insulin pump market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020 in terms of revenue, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is expected to portray the highest CAGR of 11.5% during the forecast period.
The global implantable insulin pump market report includes an in-depth analysis of the prime market players such as CVS Health (Aetna Inc.), Apex Medical, Diamesco Co., Ltd, Diabeloop, Insulet Corporation, F. Hoffmann La Roche Ltd, Medtronic Plc, Johnson & Johnson, SOOIL Developments Co. Ltd, and Tandem Diabetes Care.
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.