December 20, 2022 15:00 ET | Source: FACT.MR FACT.MR
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Rockville, Dec. 20, 2022 (GLOBE NEWSWIRE) — According to a recent report by Fact.MR, a market research and competitive intelligence provider, sales of insulin patch pumps are expected to reach a valuation of US$ 21.55 Billion by 2032, rising at a CAGR of around 14% over the forecast period of 2022 to 2032. The market is primarily driven by factors such as increasing diabetic population and rising awareness regarding advanced diabetes management solutions. Moreover, technological advancements and several product launches in the field of insulin patch pumps are further augmenting the growth.
Patch pumps are easy to use and more convenient than conventional insulin pumps. Usually, these pumps are connected to a continuous or blood glucose monitoring system. In addition, patch pumps are more affordable than conventional insulin pumps and are rapidly capturing a significant share in the insulin delivery market. Key market players are using novel technologies and offering user-friendly insulin delivery solutions at lower prices. This is expected to increase the frequency of product launches during the forecast period, thus boosting the overall industry growth.
The market is primarily driven by factors such as increasing diabetic population and rising awareness regarding advanced diabetes management solutions. Moreover, technological advancements and several product launches in the field of insulin patch pumps are further augmenting the growth.
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Patch pumps are easy to use and more convenient than conventional insulin pumps. Usually, these pumps are connected to a continuous or blood glucose monitoring system. In addition, patch pumps are more affordable than conventional insulin pumps and are rapidly capturing a significant share in the insulin delivery market. Key market players are using novel technologies and offering user-friendly insulin delivery solutions at lower prices. This is expected to increase the frequency of product launches during the forecast period, thus boosting the overall industry growth.
Key Takeaways from Market Study
“Increasing prevalence of diabetes along with technological advancements for the injection of insulin is shaping the landscape for insulin patch pumps.” states a Fact.MR analyst
Key Segments Profiled in the Insulin Patch Pumps Market Industry Survey
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Market Competition
Some prominent players in the global insulin patch pumps market include Medtronic plc, F. Hoffmann-La Roche Ltd., Insulet Corporation, CeQur, Terumo, Tandem Diabetes Care, Medtrum, Debiotech
Major Insulin patch pumps Service Providers
Comparative View of Insulin Patch Pumps Markets
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the insulin patch pumps market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of Application (Body Contouring & Skin Tightening, Skin Rejuvenation, Hair Removal, Leg Vein Treatment, Vaginal Rejuvenation, Pigmented Lesion & Tattoo Removal, Others), by End Use (Hospital/Surgery Center, Medspa, Traditional Spa, HCP Owned Clinic) & across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
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