Insulin pump market to grow by USD 5,465.96M from 2022-27

he insulin pump market size is expected to increase by USD 5,465.96 million from 2022 to 2027, registering a CAGR of 16.25%, according to the latest research report from Technavio. Discover Health Care Equipment industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports.

Company landscape
The global infusion pump market is characterized by the presence of a few large, medium, and small-scale vendors. Most large and established vendors sell and distribute their offerings to customers across the world, whereas most smaller vendors are concentrated in their regional markets. The insulin pump market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Company offerings

• Abbott Laboratories – The company offers insulin pumps such as FreeStyle Libre 3.
• B.Braun SE – The company offers insulin pumps such as Space GlucoseControl.
• Beta Bionics Inc. – The company offers insulin pumps such as iLet Bionic Pancreas.

Regional market outlook
North America will contribute 48% to the growth of the global market during the forecast period. The growth of the insulin pump market in the region can be attributed to the increase in technological advances in the healthcare sector and a high incidence of type 1 and type-2 diabetes. The US is the major contributor to generating revenue in the regional market. This is because of the high incidence of the diabetic population, sophisticated healthcare infrastructure, and growing technological advances. Furthermore, the availability of technically advanced products is likely to spur the demand in the insulin pump market in these countries. Hence, owing to such factors, the insulin pump market in North America is estimated to grow during the forecast period.

Companies mentioned

• Abbott Laboratories
• B.Braun SE
• Beta Bionics Inc.
• ConvaTec Group Plc
• Dexcom Inc.
• Eli Lilly and Co.
• Eoflow Co. Ltd.
• F. Hoffmann La Roche Ltd.
• Insulet Corp.
• Johnson and Johnson Services Inc.
• MannKind Corp.
• Medtronic Plc
• Nipro Corp.
• Nova Biomedical Corp.
• Novo Nordisk AS
• Senseonics Holdings Inc.
• SOOIL Development Co. Ltd.
• Tandem Diabetes Care Inc.
• Ypsomed AG
• CeQur SA

Technavio