November 11, 2024

Tubeless Insulin Pump Market Size to Rake USD 11.93 Bn by 2033

The global tubeless insulin pump market size was estimated at USD 2.05 billion in 2023 and is predicted to reach around USD 11.93 billion by 2033, growing at a CAGR of 19.25% from 2024 to 2033.

Key Points

  • North America held the largest market share of 55% in 2023.
  • Asia Pacific is expected to grow at the fastest rate during the forecast period.
  • By type, the insulin patch pump segment accounted for the dominating share in 2023. The segment is observed to continue growth at a significant rate in the upcoming period.
  • By component, the pod or patch segment held the largest share of the market in 2023.
  • By end users, the hospitals segment held the largest share of the market in 2023.

Tubeless Insulin Pump Market Size 2024 to 2033

The Tubeless Insulin Pump market has witnessed substantial growth in recent years, driven by advancements in diabetes management technology and the increasing prevalence of diabetes globally. Tubeless insulin pumps represent a significant leap forward in providing a more convenient and discreet solution for individuals with diabetes who require insulin therapy. These innovative devices eliminate the need for traditional tubing, offering a more user-friendly experience.

The market for tubeless insulin pumps is characterized by a competitive landscape with several key players introducing cutting-edge technologies to gain a competitive edge. As diabetes continues to be a widespread health concern, the demand for efficient and user-friendly insulin delivery systems is expected to drive the growth of the tubeless insulin pump market in the coming years.

Get a Sample: https://www.precedenceresearch.com/sample/3944

Growth Factors

Several factors contribute to the robust growth of the tubeless insulin pump market. Firstly, the increasing incidence of diabetes worldwide has led to a higher demand for advanced and convenient insulin delivery systems. Tubeless insulin pumps address the need for discreet and easy-to-use devices, appealing to a broad spectrum of patients.

Technological advancements play a crucial role in the growth of this market. Continuous innovation in pump design, smart connectivity features, and improved user interfaces enhance the overall patient experience. Moreover, the integration of artificial intelligence and data analytics into these devices has opened new avenues for personalized diabetes management, further boosting market growth.

Tubeless Insulin Pump Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 19.25%
Global Market Size in 2023 USD 2.05 Billion
Global Market Size by 2033 USD 11.93 Billion
U.S. Market Size in 2023 USD 790 Million
U.S. Market Size by 2033 USD 4,590 Million
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type, By Component, and By End-users
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Tubeless Insulin Pump Market Dynamics

Drivers

Key drivers fueling the expansion of the tubeless insulin pump market include the rising awareness about diabetes management, favorable reimbursement policies, and the emphasis on improving patient adherence to insulin therapy. The shift towards value-based healthcare and the increasing adoption of wearable medical devices also contribute to the market’s positive trajectory.

Additionally, collaborative efforts between healthcare providers, device manufacturers, and regulatory bodies to streamline the approval process for tubeless insulin pumps play a pivotal role in market growth. The growing focus on preventive healthcare measures and the need for reducing the overall burden of diabetes-related complications are additional driving forces.

Restraints:

Despite the promising growth, the tubeless insulin pump market faces certain challenges. Cost constraints, particularly in developing regions, hinder widespread adoption. The initial investment required for these advanced devices may limit access for some patient populations, impacting market penetration.

Moreover, concerns related to the security and privacy of patient data in connected devices pose challenges. As these pumps become more interconnected, ensuring robust cybersecurity measures is crucial to maintaining patient trust and preventing potential risks.

Opportunity:

The tubeless insulin pump market presents substantial opportunities for further expansion. Continued research and development efforts to address existing challenges, such as cost and data security, can unlock new markets and increase adoption rates. The integration of artificial intelligence for more precise insulin dosage adjustments and the development of hybrid closed-loop systems represent exciting opportunities for market players.

Furthermore, strategic collaborations and partnerships between device manufacturers and healthcare providers can facilitate the development of comprehensive diabetes management solutions. Investing in awareness campaigns and education initiatives about the benefits of tubeless insulin pumps can also create a favorable environment for market growth.

Read Also: Protective Face Masks Market Size to Rake USD 16.32 Bn by 2033

Region Insights:

The tubeless insulin pump market exhibits regional variations influenced by factors such as healthcare infrastructure, regulatory policies, and the prevalence of diabetes. North America and Europe are at the forefront of market adoption, driven by well-established healthcare systems, technological advancements, and high awareness levels among patients.

In Asia-Pacific and Latin America, the market is poised for significant growth due to the rising prevalence of diabetes and improving healthcare infrastructure. However, challenges related to affordability and awareness need to be addressed to unlock the full potential of these regions.

Recent Developments

  • In August 2023, the Tubeless insulin pump received FDA clearance for diabetes people. The Accu-Chek Solo micropump (Roche Diabetes) was granted 510(k) clearance from the FDA. Accu-Chek Solo micropump is tubeless, small, and lightweight. Users can place the device on four different infusion sites on the body. The device is detachable, allowing people with diabetes to change the infusion site when necessary.
  • In July 2023, the FDA announced the clearance of Tandem Diabetes Care’s Mobi durable automated insulin pump. The approval covers people with diabetes aged six and above, expanding Tandem’s portfolio of products. Mobi features a 200-unit insulin cartridge and an on-pump button to provide an alternative to phone control for insulin boluses.
  • In February 2024, Omnipod 5 received approval to integrate with the new freestyle libre two plus sensor. The Omnipod 5 hybrid closed loop system has received approval to integrate with the Abbott FreeStyle Libre 2 Plus Sensor in the UK, which will give people living with diabetes additional choice and flexibility for managing their blood sugar levels.
  • In April 2023, Insulet announced FDA clearance of Omnipod GO, a first-of-its-kind basal-only insulin pod for people with type 2 diabetes aged 18 and above. Omnipod GO is a wearable, standalone insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.

Tubeless Insulin Pump Market Companies

  • Medtronic plc
  • Hoffmann-La Roche Ltd
  • Tandem Diabetic Care, Inc.
  • Insulet Corporation
  • Ypsomed
  • Cellenovo
  • Abbott
  • Tandem Diabetes Care
  • Insulet Corporation
  • Sooil Development
  • Valeritas, Inc
  • JingasuDelfu Co., Ltd.
  • Cellnova
  • Roche Holdings
  • Spring Health Solutions
  • Johnson & Johnson
  • Medtrum Technologies
  • Debiotech
  • CeQur
  • Valeritas Holding
  • Animas Corporation

Segments Covered in the Report

By Type

  • Insulin Patch Pump
  • Traditional Pump

By Component

  • Pod or Patch
  • Remote
  • Accessories

By End-users

  • Hospitals
  • Pharmacies
  • E-commerce

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.autoindustrybulletin.com/

 

Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

View all posts by Prathamesh →

Leave a Reply

Your email address will not be published. Required fields are marked *