The insulin patch pumps have emerged as a convenient device for the accurate delivery of insulin at prescribed interval of time. As compared to the conventional insulin delivery systems, the patch pumps are convenient, small and affordable. This has fueled the adoption of insulin patch pumps worldwide with North America and European countries being the frontline consumers. The insulin patch pumps are attached to skin with the help of an adhesive layer and are integrated with the blood glucose monitoring system for continuous monitoring of blood sugar level and delivery of insulin. The type 1 diabetic patients are increasing at an alarming rate due to lifestyle disorders. Type 1 diabetic patients need a small dose on insulin to regulate blood sugar level and thus are the major consumer group for handy insulin delivery systems such as the patch pumps. Consequently, the global insulin patch pump market is estimated to grow at a double digit growth rate during the forecast period.
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North America contributed the largest share to the global insulin patch pumps market in 2019 and is anticipated to be a dominating geography during the forecast period. Prevalence of type 2 diabetes, increasing number of type 1 diabetes patients, and presence of global insulin patch pump manufacturers are the prime attributes fueling the growth of insulin patch pump market in North America. Europe is anticipated to contribute a significant share to the global insulin patch pump market during the forecast period. Asia Pacific is expected to be the fastest growing geography due to increasing number of diabetic patients, increased spending on manufacturing of medical devices and rising awareness regarding the advanced medical devices.
The report titled “Insulin Patch Pumps Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global insulin patch pumps market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Medtronic plc reported revenues of USD 30,557 million in 2019 and the product segment analysis of the company indicates that Cardiac & Vascular business segment of the company dominated revenue in 2019.
The global insulin patch pumps market is segmented based on product type, mode of delivery, sales channel, and geography. Based on product type, the global insulin patch pumps market is segmented into disposable pumps and reusable pumps. Based on mode of delivery, the global insulin patch pumps market is segmented into basal, bolus, and combination. Based on sales channel, the global insulin patch pumps market is segmented into hospitals, pharmacies, and others. The pharmacies are further sub-segmented into online pharmacies and retail pharmacies. Based on geography, the global insulin patch pumps market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The research would provide in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on insulin patch pumps. Market share of prominent companies in the global insulin patch pumps market would be included. For instance, Medtronic plc operates through four business divisions namely Cardiac & Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. The insulin patch pumps are delivered under Diabetes Group of the company with revenue contribution of US$ 2,391 million in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the insulin patch pumps companies. Furthermore, the global insulin patch pumps market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the insulin patch pumps market business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global insulin patch pumps market.