New York, USA, April 20, 2022 (GLOBE NEWSWIRE) — Research Dive states that the global tubeless insulin pump market is estimated to garner a revenue of $2,837.6 million by 2026, and rise at a CAGR of 23.4% in the forecast period from 2019 to 2026. The all-inclusive report on tubeless insulin pump market provides a brief summary of the current market scenario along with the key aspects of the industry, such as significant growth and restraining factors, challenges, and multiple growth opportunities. Besides, the report provides all the estimates of the market, making it easier and helpful for the novel participants to better understand the global market.
Analysts at Research Dive states that the increasing cases of diabetes among people and the rising preference of patients for tubeless insulin pumps over traditional invasive insulin pumps are the major factors anticipated to propel the growth of the global tubeless insulin pump market in the analysis period. In addition, the rising initiatives taken by governments of various countries to raise awareness about medicare policies and diabetes management is another factor predicted to boost the market growth. Moreover, continuous technological advancements in tubeless insulin pumps is projected to open up massive growth opportunities for the global market in the coming years. Conversely, the increased risk of diabetic ketoacidosis and high costs of tubeless insulin pumps may restrict the market growth in the forecast period.
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Pod Sub-segment to be Most Profitable
Based on component, the pod sub-segment is expected to generate a significant revenue and grow at CAGR of 23.6% during the estimated timeframe. This sub-segment growth is majorly because the pod is a disposable, lightweight vessel that can be easily attached anywhere on the user’s body and is easy to carry up to three days of nonstop insulin. In addition, pods are highly preferred by patients which is driving the sub-segment’s growth.
E-commerce Sub-segment to Witness Substantial Growth
Based on distribution channel, the e-commerce sub-segment is expected to grow at a CAGR of 23.5% by 2026 and observe significant growth over the forecast period. This sub-segment growth of the global tubeless insulin pump market is mainly owing to the growing popularity of e-commerce channels for the sales of tubeless insulin pumps. In addition, consumers are highly attracted to the economic benefits of using e-commerce channels and are highly preferring over purchases via traditional offline channels, which is driving the sub-segment’s growth.
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North America Region to Have Enormous Growth Opportunities
By region, the North America tubeless insulin pump market is expected to create massive growth opportunities and rise at a CAGR of 22.3% during the analysis period. This is majorly owing to the rise in the number of old age population and the lack of physical activity among people leading to increasing diabetic population in the US and Canada.
Prominent Market Players
The report presents several aspects of these major players such as strategic moves and business & financial performance of key players, latest developments, SWOT analysis, and product portfolio. Some of the key players of the global tubeless insulin pump market are:
- Medtrum Technologies Inc.
- CeQur SA, Debiotech
- Spring Health Solution Ltd
- Insulet Corporation
- Rosh Holding AG
- Cellnovo Group S.A.
- Abbott DiabetesCare
- Johnson & Johnson
These players are executing several strategies to gain a dominant position in the global industry.
For instance, in January 2022, Insulet Corporation, the global leader in tubeless insulin pump technology, received clearance the US Food and Drug Administration (FDA) approval for its ‘Omnipod 5 Automated Insulin Delivery System’ for individuals with type 1 diabetes and are six years and older.
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