Implantable Insulin Pump Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Implantable Insulin Pump Market

Implantable Insulin Pump Market By Product Type (Closed-Loop Insulin Pump and Open-Loop Insulin Pump), By Disease (Type 1 Diabetes and Type 2 Diabetes), By End-User (Hospitals and Home-Care), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032

Category: Medical Device Report Format : PDF Pages: 225 Report Code: ZMR-8158 Published Date: Mar-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 3,600 million USD 7,400 million 8.34% 2023

 

Implantable Insulin Pump Market

Implantable Insulin Pump Industry Prospective:

The global implantable insulin pump market size was evaluated at $3,600 million in 2023 and is slated to hit $7,400 million by the end of 2032 with a CAGR of nearly 8.34% between 2024 and 2032.  

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Implantable Insulin Pump Market: Overview

An implantable insulin pump is a product that can be surgically inserted under the skin & catheter from the pump and extends into the peritoneal cavity. Reportedly, the latter has a huge blood vessel supply and hence insulin absorption is effective in the cavity. Furthermore, the implantable insulin pump works as per the concentration of glucose present in the blood. For instance, the lower the glucose in the blood, the lesser the insulin concentration in the blood. Moreover, the higher the glucose in the blood than higher the concentration of insulin released in the blood.

Key Insights

  • As per the analysis shared by our research analyst, the global implantable insulin pump market is projected to expand annually at the annual growth rate of around 8.34% over the forecast timespan (2024-2032)
  • In terms of revenue, the global implantable insulin pump market size was evaluated at nearly $3,600 million in 2023 and is expected to reach $7,400 million by 2032.
  • The global implantable insulin pump market is anticipated to grow rapidly over the forecast timeline owing to an increase in the occurrence of diabetes among the population across the globe.
  • In terms of product type, the open-loop insulin pump segment is slated to register the highest CAGR over the forecast period.
  • Based on diabetes, the type 1 diabetes segment is predicted to dominate the segmental surge in the years to come.
  • Region-wise, the North American implantable insulin pump industry is projected to register the fastest CAGR during the projected timespan.

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Implantable Insulin Pump Market: Growth Factors

A rise in the incidences of diabetes in patients to prop up the growth of the global market over forecast period

An increase in the occurrence of diabetes among the population across the globe can favorably influence the growth of the global implantable insulin pump industry. Furthermore, sedentary lifestyles along with the rise in obesity in individuals can increase the demand for implantable insulin pumps.

Moreover, a rise in government spending on healthcare activities along with innovations in the product is likely to spearhead the expansion of the global market. Surging awareness among people about diabetes disease treatment along with accuracy in dosage delivery from the product are a few of the growth drivers of the global market.

Implantable Insulin Pump Market: Restraints

Stringent legislation related to product sales to hinder the global industry expansion by 2032

Strict government laws related to the production & sale of the product can impede the expansion of the global implantable insulin pump industry. A surge in raw material costs along with supply chain disruptions can pose a big threat to the global industry elevation over the forecast period.

Implantable Insulin Pump Market: Opportunities

A rise in the healthcare professionals globally will create new growth facets for the global market by 2032

An increase in the number of healthcare service providers along with a rise in the diabetics will open new growth avenues for the global implantable insulin pump market. Supportive government policies over product use across various countries are likely to pave the way for humungous growth of the global market.

Implantable Insulin Pump Market: Challenges

Oscillating government laws related to changes in product demand can challenge the growth of the global industry by 2032

Changing government policies leading to demand variations can pose a huge challenge to the expansion of the global implantable insulin pump industry.

Implantable Insulin Pump Market: Segmentation

The global implantable insulin pump market is divided into disease, end-user, product type, and region.                                         

In product type terms, the implantable insulin pump market across the globe is bifurcated into open-loop insulin pump and closed-loop insulin pump segments. Furthermore, the open-loop insulin pump segment, which accumulated approximately 52% of the global market revenue in 2023, is prognosis to record the fastest rate of growth in the forecast timeframe. The expansion of the segment in the next eight years can be subject to an increase popularity of minimally invasive equipment such as open-loop insulin pumps for treating diabetics. Furthermore, a rise in the funding of research projects developing innovative products will further scale up the growth of the segment.

On the basis of disease, the global implantable insulin pump industry is segmented into type 1 diabetes and type 2 diabetes segments. Additionally, the type 1 diabetes segment, which acquired the largest share of the global industry in 2023, is expected to lead the segmental growth in the years to come. The segmental progression from 2024 to 2032 can be due to the surging occurrence of type 1 diabetes globally. Apart from this, rising awareness among people about type 1 diabetes therapies will spearhead the segmental surge in the forthcoming years.

Based on the end-user, the global implantable insulin pump market is sectored into hospitals and home-care segments.

Implantable Insulin Pump Market: Report Scope

Report Attributes Report Details
Report Name Implantable Insulin Pump Market
Market Size in 2023 USD 3,600 Million
Market Forecast in 2032 USD 7,400 Million
Growth Rate CAGR of 8.34%
Number of Pages 225
Key Companies Covered Baxter Corporation, Medtronic, BD, Teleflex Incorporated, Johnson and Johnson Services Inc., B. Braun Melsungen AG, Novo Nordisk A/S, AngioDynamics, Smith + Nephew, Pfizer Inc., Hoffmann-La Roche Ltd, ZOLL Medical Corporation, Thermo Fisher Scientific Inc., and others.
Segments Covered By Product Type, By Diabetes, By End-User, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Implantable Insulin Pump Market: Regional Insights

Asia-Pacific is predicted to maintain its number one position in the global implantable insulin pump market in the ensuing years

Asia-Pacific, which contributed nearly two-fifths of the global implantable insulin pump market proceeds in 2023, is expected to lead the global market growth in the next decade. Moreover, the regional market surge in the next couple of years can be due to an increment in government initiatives favoring the use of the product. Additionally, a rise in the allocation of funds for research activities along with a surge in product approvals will steer the progression of the market in the APAC zone. Furthermore, the presence of key manufacturers in Asian countries along with the availability of the product at reasonable costs will spur the elevation of the market in the region.

North American implantable insulin pump industry is expected to register the fastest growth rate annually over the period from 2024 to 2032. The elevation of the industry in North America over the coming eight years can be subject to a rise in the cases of diabetics in countries such as Canada and the U.S. Furthermore, favorable compensation policies along with the rise in the elderly populace will scale up the expansion of the industry in the sub-continent.

Key Developments

  • In the first half of 2021, Smiths Medical, a key division of Smiths Group, joined hands with Ivenix, Inc., a medical technology company, to provide a suite of infusion management solutions for fulfilling healthcare requirements in the U.S. along with enhancing patient care.   

Implantable Insulin Pump Market: Competitive Space

The global implantable insulin pump market profiles key players such as:

  • Baxter Corporation
  • Medtronic
  • BD
  • Teleflex Incorporated
  • Johnson and Johnson Services Inc.
  • B. Braun Melsungen AG
  • Novo Nordisk A/S
  • AngioDynamics
  • Smith + Nephew
  • Pfizer Inc.
  • Hoffmann-La Roche Ltd
  • ZOLL Medical Corporation
  • Thermo Fisher Scientific Inc.

The global implantable insulin pump market is segmented as follows:

By Product Type

  • Closed-Loop Insulin Pump
  • Open-Loop Insulin Pump

By Diabetes

  • Type 1 Diabetes
  • Type 2 Diabetes

By End-User

  • Hospitals
  • Home-Care

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Implantable insulin pump is a product that can be surgically inserted under the skin & catheter from pump and extends into peritoneal cavity. Reportedly, the latter has a huge blood vessel supply and hence insulin absorption is effective in the cavity.

The global implantable insulin pump market growth over forecast period can be owing to surging awareness among people about diabetes disease treatment along with accuracy in dosage delivery from the product.

According to a study, the global implantable insulin pump industry size was $3,600 million in 2023 and is projected to reach $7,400 million by the end of 2032.

The global implantable insulin pump market is anticipated to record a CAGR of nearly 8.34% from 2024 to 2032.

The North American implantable insulin pump industry is set to register the fastest CAGR over the forecasting timeline owing to rise in the cases of diabetics in the countries such as Canada and the U.S. Furthermore, favorable compensation policies along with rise in the elderly populace will scale up the expansion of the industry in the sub-continent.

The global implantable insulin pump market is led by players such as Baxter Corporation, Medtronic, BD, Teleflex Incorporated, Johnson and Johnson Services, Inc., B. Braun Melsungen AG, Novo Nordisk A/S, AngioDynamics, Smith + Nephew, Pfizer Inc., Hoffmann-La Roche Ltd, ZOLL Medical Corporation, and Thermo Fisher Scientific Inc.

The global implantable insulin pump market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.

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