Global Tubeless Insulin Pump Market Expected to Garner $2,837.6 Million by 2026, Growing at 23.4% CAGR from 2019-2026 [95-Pages] | Declared by Research Dive
The tubeless insulin pump market is expected to grow by 2026 due to the rising number of diabetes cases across the globe. The e-commerce sub-segment is predicted to be highly lucrative. Market in North America to be the most dominant.
NEW YORK , Aug. 18, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Tubeless Insulin Pump Market by Component (Pod/Patch, Remote, Others), By Distribution Channel (Pharmacies, e-Commerce, Hospitals, Others), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA), Global Opportunity Analysis and Industry Forecast, 2019-2026".
As per the report, the global tubeless insulin pump market is predicted to grow at a stable CAGR of 23.4% in the 2019-2026 timeframe, thereby garnering $2,837.6 million by 2026.
Dynamics of the Tubeless Insulin Pump Market
Drivers: Over the years, there has been an increase in the number of cases of diabetes all across the world, which is expected to be the primary growth driver of the tubeless insulin pump market. Along with this, diabetic patients are opting for tubeless insulin pumps instead of traditional invasive pumps which is further expected to push the market.
Opportunities: The massive scale of innovations and technological advancements in tubeless insulin pumps is predicted to provide numerous growth opportunities to the market in the forecast period. Furthermore, growing incidence of diabetes all across the globe is expected to augment the growth rate of the market.
Restraints: High cost of tubeless insulin pumps, however, may dampen the growth rate of the tubeless insulin pump market.
Access to the Comprehensive PDF Sample of COVID-19 Impact on Tubeless Insulin Pump Market
Segments of the Tubeless Insulin Pump Market
The report has divided the tubeless insulin pump market into different segments based on component, distribution channel, and region.
- By component, the pods sub-segment is predicted to have a dominant market share and is expected to grow with a CAGR of 23.6% during the anticipated period. Pods are lightweight, disposable vessels which can carry up to three days of insulin. Due to this ease of convenience provided by pods, they are in a great demand, which is expected to help the sub-segment grow in the forecast period.
- By distribution channel, the e-commerce sub-segment is anticipated to become the most lucrative sub-segment and grow with a CAGR of 23.5% till 2026. There is a growing trend among consumers to opt for e-commerce channels for purchasing tubeless insulin pumps, which is expected to help this sub-segment flourish.
- By regional analysis, the tubeless insulin pump market in North America region is expected to be the most dominant and generate $924.5 million in 2026. Increasing number of diabetes cases due to large geriatric population in this part of the world is expected to be the primary growth driver of the market in this region.
Significant Tubeless Insulin Pump Market Players
The significant market players of the tubeless insulin pump market are
- Medtrum Technologies Inc
- Rosh Holding AG
- Veleritas
- Insulet Corporation
- Cellnovo Group SA
- CeQur SA
- Debiotech
- Spring Health Solution Ltd
- Abbott Diabetes Care
- Johnson & Johnson
These key market players are developing different strategies like product development, merger and acquisitions, partnerships and collaborations to gain a leading position in the market.
For instance, in February 2020, Abbott, a multinational medical device company, and Insulet Corporation, a leading tubeless insulin pump manufacturer, announced a partnership aimed at integrating Abbott's renowned glucose sensing technology with Insulet's tubeless insulin pump system, Omnipod Horizon™ Automated Insulin Delivery (AID) System. This partnership is predicted to help both the companies immensely in the coming period.
The Research Dive report also summarizes many crucial aspects of the tubeless insulin pump market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about COIVD-19 Impact on Tubeless Insulin Pump Market:
- Tubeless Insulin Pumps: A life changing device for Diabetic Patients
- Tubeless Insulin Pump Market on the Edge of Attaining Heights in the Coming Future
- Omnipod: A Prominent Device Responsible for the Growth of Tubeless Insulin Pump Industry
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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