Tubeless Insulin Pump Market to Reach USD 6,027 Million by 2030 Fueled by Increasing Incidence of Diabetes and Related Disorders

Acumen Research and Consulting recently published report titled “Tubeless Insulin Pump Market Size, Share, Analysis Report and Region Forecast, 2022 - 2030”

LOS ANGELES, July 12, 2022 (GLOBE NEWSWIRE) -- The Global Tubeless Insulin Pump Market size was accounted for USD 1,066 Million in 2021 and is estimated to reach the market value of USD 6,027 Million by 2030, growing at a CAGR of 21.7% from 2022 to 2030.

Due to the rising prevalence of chronic conditions, consistent adoption to improve treatment and care will support the tubeless insulin pump market forecast. The tubeless insulin pump is a medical device that aids in blood glucose control as well as a variety of other conditions. These are primarily used to reduce the frequency of injections. The development of novel and minimally invasive diabetes treatment products is expected to boost the market growth. Along with research and development, the increasing geriatric population, the option for remote patient monitoring, and removal procedures will all have an impact on the demand for tubeless insulin pumps. It is composed of a common component, a remote, a pod/patch, and related accessories.

The rise in the diabetic patient over the globe has resulted in a greater consumer preference for non-invasive treatment options. According to the National Diabetes Facts and Figures, over 30.3 million people were diagnosed with diabetes in the United States in 2015. Various technological advances in insulin pumps have also encouraged patients to choose smooth and easy insulin administration. Since they are small, inconspicuous, and easy to use, tubeless insulin pumps are also known as insulin patch pumps. These items are inexpensive, easily conform to the body, discrete, and simple to use. According to the NCBI, individuals with type 1 diabetes highly suggest tubeless insulin pumps. These pumps currently use a spring, Nitinol wire, a manual pumping chamber, a piezoelectric crystal, a step motor, and a bladder to deliver insulin.

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Report Coverage:

Global Tubeless Insulin Pump Market Growth Aspects

The growing number of medical and surgical patients, the increasing prevalence of diabetic patients, and the rising generic population are all driving the growth of the tubeless insulin pump market. The disease affects not only the older adults but also young kids and the middle-aged citizenry. According to the World Health Organization, diabetes killed approximately 1.6 million people in 2016. The market is expected to grow further as a result of technological advancements in the tubeless insulin pump market, such as the incorporation of modern types of equipment in insulin pods and remote controls. Conventional invasive infusion pumps cause injury and infection in patients. As a result, patients may prefer tubeless insulin pumps, which are less harmful to the patient's body. Furthermore, rising government initiatives to increase awareness and understanding of diabetes management, glycemic control, and Healthcare policies are expected to drive overall market growth over the forecast period.

Apart from this, since the number of COVID-19 cases in the world is increasing, there is increasing pressure for medical products from both healthcare professionals and organizations for preventative measures. Market participants in these product lines have a chance to capitalize on the steadily increasing utilization of health supplies in order to ensure an adequate and consistent supply of protective equipment on the market. As a result, COVID 19 is expected to have a significant impact on the tubeless insulin pump market.

Besides that, the exorbitant prices of tubeless insulin pumps are a significant impediment to the industry's growth. Additionally, if the pump fails, the consumer risks developing diabetic ketoacidosis. This can happen as a result of a faulty battery, insulin inactivation due to heat exposure, or the presence of a dry tank. In these cases, insulin spills or the feeding tube has become crimped to avoid delivery. As a result, the patient faces a wide range of consequences, including skin conditions.

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Tubeless Insulin Pump Market Regional Overview

North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global tubeless insulin pump market. The North American tubeless insulin pump market will expand rapidly in the coming years. The extensive use of tubeless insulin pumps, as well as continuing government initiatives to raise diabetes consciousness, will contribute significantly to market growth. Furthermore, the presence of established market players in the region, as well as rising FDA approval of new equipment, will have a great effect on the development of the North American tubeless insulin pump industry over the forecast period. Furthermore, the diabetic population in the United States and Canada is anticipated to witness significant growth over the next few years, fueling demand for more capital markets in the tubeless insulin pump market throughout the forecast period.

Tubeless Insulin Pump Market Segmentation

The global tubeless insulin pump market has been segmented by Acumen Research and Consulting based on component, and end-use. Based on the component, the market is divided into pod/patch, remote, and others. Based on the end-use, the market is categorized into home care, hospitals & clinics, and others.

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Tubeless Insulin Pump Market Players

Some key players covered global in the tubeless insulin pump industry are Insulet Corporation, Abbott Diabetes Care, Spring Health Solution Ltd., Tandem Diabetes Care, Johnson and Johnson, Roche Holding AG, Medtrum Technologies Inc., Medtronic Plc., Debiotech, CeQur SA, and Cellnovo Group SA.

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The Global Insulin Delivery Devices Market value is expected to reach around USD 22.5 Billion by 2026 and growing at a CAGR of around 7.2% over the forecast period 2019 to 2026.

The Global Continuous Glucose Monitoring (CGM) Systems/Devices Market Size is anticipated to around USD 2.2 Billion by 2026, this market is anticipated to grow with 14.3% CAGR during the forecast time period.

The Global Diabetes Care Devices Market is expected to grow at a CAGR of around 15.17% from 2020 to 2027 and expected to reach the market value of around USD 5,134.0 Million by 2027.

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