The tubeless insulin pump market value is projected to reach USD 6.2 billion by 2030, according to a new research report by Global Market Insights Inc. Increasing disease burden along with incremental healthcare expenses associated with diabetes is likely to impel the market statistics.
Adoption of supportive initiatives and implementation of facilitative policies by the governing agencies & public organizations to drive awareness regarding diabetes and to promote access to affordable diabetes management will drive the industry expansion. In the U.S., the Centers for Disease Control and Prevention (CDC) initiated the National Diabetes Prevention Program (National DPP). This program is a collaborative effort among public and private organizations aiming to reduce or limit the prevalence of type 2 diabetes. This program, 3 years after its inception, indicated that participants in the DPP program documented reduced chance of developing type 2 diabetes by 58% as compared to the participants that were given a placebo.
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Significant portion of the diabetes population uses insulin pumps for disease management to avoid frequent injections, The tubeless insulin pod or patches provided an efficient less invasive alternative to traditional devices including benefits such as ease in use and minimized risk of infection that is predicted to stimulate the product adoption. Moreover, these transdermal patches are comparatively less painful and more convenient enabling diabetes management with an active lifestyle of patients.
Some major findings of the tubeless insulin pump market report include:
- Growing prevalence of diabetes is expected to drive the market forecasts.
- Technological developments in tubeless insulin pump will foster the industry demand.
- Competitors are focusing on strategic product launches, partnerships, and geographical expansion to gain significant revenue share and cater to larger customer base.
Browse key industry insights spread across 100 pages with 51 market data tables & 10 figures & charts from the report, “Tubeless Insulin Pump Market Analysis by End-use (Homecare, Hospitals & Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/tubeless-insulin-pump-market
Tubeless insulin pump market from home care segment accounted for 76% revenue share in 2021 and is anticipated to expand at significant CAGR from 2022 to 2030 owing to the growing product adoption, and user preference. Also, the superior performance of tubeless insulin pumps as compared to conventional multiple daily injection (MDI) therapy will spur the industry landscape. Thus, the superior performance and increased preference for tubeless insulin pumps is driving their adoption in home care settings.
Japan tubeless insulin pump industry is expected to witness 26.7% CAGR to reach USD 25 million by 2030. This is primarily attributed to the increasing prevalence of diabetes, significant healthcare expenditure, technological advancements, and product launches in the country. Additional, novel product launches in the country are projected to boost the regional business growth. This tubeless insulin pump is designed and manufactured in Japan and is the only tubeless patch pump commercially available in the country. Thus, owing to these factors along with the presence of facilitative reimbursement scenario in the country are projected to accelerate the regional market trends.
Some of the major players operating in the tubeless insulin pump market are Roche Diabetes Care, Insulet Corporation, Terumo Corporation, and Medtrum Technologies. These players are engaged in implementing numerous strategic initiatives such as collaborations, product launches, research activities to expand their product portfolio and market presence.
