Growing Diabetes Incidence to Fuel the Global Insulin Patch Pump Market

Triton Market Research presents the ‘Global Insulin Patch Pump Market’ report sectioned by Delivery Mode (Bolus, Basal, Basal & Bolus), By Product Type (Reusable, Disposable), By Disease Indication (Type 1 Diabetes, Type 2 Diabetes), by Distribution Channel (Online Pharmacies, Retail Pharmacies, Hospital Pharmacies) and by Regional Outlook (Middle East and Africa, North America, Europe, Asia-Pacific, Latin America).

The report further discusses the Market Summary, Industry Outlook (Parent Market Analysis, Impact Analysis, Market Maturity Analysis, Porter’s Five Forces Analysis, Industry Components, Regulatory Framework, Key Market Strategies, Key Buying Impact Analysis, Drivers, Challenges, Opportunities, Analyst Perspective), Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

As per the report by Triton Market Research, the global insulin patch pump market is anticipated to develop at a CAGR of 10.54% in the forecast years from 2023 to 2030.

Insulin patch pumps have become a practical option for patients who need insulin therapy as the medical field develops. These devices are more user-friendly, affordable, and smaller than conventional insulin pumps, which makes them a preferred option for patients.

Additionally, technological developments have lessened the need for regular monitoring, which has increased patient demand for a more practical alternative. As a result, more patients are choosing insulin patch pumps over conventional insulin pumps as the knowledge of the advantages of these devices grows. The rising awareness regarding such advanced solutions is expected to drive the global insulin patch pump market’s growth over the forecast period.

While insulin pumps have advantages like accurate dosing and ease, they also come with risks like low blood sugar, weight gain, hemorrhage, and scarring. For instance, the use of interoperable t:Slim X2 pumps is associated with risks such as infection, bleeding, discomforts, or skin irritations like redness, swelling, bruising, itching, scarring, and skin discoloration. The possibility of such dangers may have an impact on the growth of the global insulin patch pump market over the forecasted period.

North America leads the global market, accounting for the highest revenue share in 2022. The market for insulin patch pumps in the region is expected to expand significantly, mostly as a result of rising diabetes incidence, rising per capita income, and rising healthcare costs.

As diabetes affects 11.3% of the population in the US, the market for insulin patch pumps is anticipated to rise at a faster rate there. Additionally, during the projected period, the market expansion is anticipated to be fueled by the use of smart devices and advanced technologies like artificial intelligence & data analytics, as well as the presence of established market competitors.

Debiotech SA, EOFlow Co Ltd, Tandem Diabetes Care Inc, CeQur SA, Terumo Corporation, Medtronic Plc, F Hoffmann La Roche AG, Medtrum Technologies Inc, and Insulet Corporation are some of the leading players operating in this market.

Players in the market require high seed capital. Moreover, the stringent government regulations and the strong presence of established players make it difficult for new entrants to penetrate the market and disrupt the portfolio of leading & gain a significant market share. Moreover, established players make significant investments in research & development to innovate their products and maintain their market dominance. Therefore, the competitive rivalry in the market is high.