The Europe Insulin Pump Market would witness market growth of 9.2% CAGR during the forecast period (2023-2030).
The primary drivers of the expansion of the market are the increased awareness of the availability of cutting-edge, innovative pumps and their accessibility. The market expansion is being fueled by the increasing investments made by market participants in the research & development of drug delivery devices, which has promoted the development of insulin pumps primarily focused on patient convenience.
Additionally, the adoption of automated insulin pumps among patients is being accelerated by the emergence of smart technologies such as artificial intelligence in the healthcare industry. The market is also expanding due to the increasing number of product approvals and various developmental methods, including distribution agreements, partnerships, and collaborations, employed by market participants. The rising prevalence of Type 1 diabetes is one of the factors accelerating the use of insulin pumps and fueling market expansion. Numerous millions of people with Type 1 diabetes use insulin pumps.
Diabetes is becoming more common among people of all ages in Europe due to rising overweight and obesity rates, a poor diet, and insufficient exercise. In the European region, 60 million people—or 10.3% of men and 9.6% of women 25 years of age or older—have diabetes. Furthermore, the International Diabetes Federation (IDF) reports that 15.3% of Germans have diabetes. The organization estimates that this is a 25% increase above the rate from the previous year (12.2%). It is estimated that 9.5 million adults in Germany have diabetes, which puts them at risk for potentially lethal complications. As a result, it is anticipated that the demand will increase throughout the region.
The Germany market dominated the Europe Insulin Pump Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $600.2 million by 2030. The UK market is experiencing a CAGR of 8.3% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 10.1% during (2023 - 2030).
Based on Product, the market is segmented into Pumps (Tethered, Patch, and Others), and Consumables. Based on Disease Indication, the market is segmented into Type 1 Diabetes, and Type 2 Diabetes. Based on Distribution Channel, the market is segmented into Retail & Online Pharmacies, and Hospital Pharmacy. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Insulin Pump Market is Projected to reach USD 9.5 Billion by 2030, at a CAGR of 9.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, F. Hoffmann-La Roche Ltd., Tandem Diabetes Care, Inc., Insulet Corporation, Ypsomed AG, Aetna, Inc. (CVS Pharmacy, Inc.), SOOIL Developments Co., Ltd, Diabeloop SA, Jiangsu Delfu Medical Device Co.,Ltd, and APEX Medical Corporation
By Product
By Disease Indication
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