The North America Insulin Pump Market would witness market growth of 8.7% CAGR during the forecast period (2023-2030).
Diabetes patients can receive their prescribed amounts of insulin using insulin pumps, which are small, programmed medication delivery systems. The widespread adoption of insulin pumps has been facilitated by their increasing effectiveness in regularly treating and controlling diabetes by delivering consistent and timely insulin doses to patients.
The demand of insulin pumps over conventional techniques is accelerating, and technical advancements are the key reasons positively impacting market growth. For those who need to inject many doses of insulin daily, insulin pumps are quite practical. Since these devices are less invasive, a larger portion of the patient uses them. The rising senior population, rising diabetes occurrence, and rising obesity prevalence are mostly to blame for the market's expansion.
According to data released by the CDC, 37.3 million Americans (11.3 percent of the population) had diabetes in June 2022. More than one in three Americans, or 96 million adults, have prediabetes. Cardiovascular disease, type 2 diabetes, and stroke risk are all increased by prediabetes. As per the Economic Cost of Diabetes study by the American Diabetes Association, the total cost of diabetes diagnoses in the United States in 2017 was $327 billion. Increased incidence of diabetes and the expansion of government initiatives for its prevention and management, the market in North America is anticipated to expand.
The US market dominated the North America Insulin Pump Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,589 million by 2030. The Canada market is showcasing a CAGR of 11.2% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 10.2% 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 U.S., Mexico, Canada, and Rest of North America.
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
By Distribution Channel
By Country
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