According to a new report published by Allied Market Research, titled, โImplantable Insulin Pump Market: Global Opportunity Analysis and Industry Forecast, 2021-2030” The global implantable insulin pump market size was valued at $2,674 million in 2020, and is projected to reach $6,443 million by 2030, registering a CAGR of 9.1% from 2021 to 2030.ย Implanted insulin pump is a medical device that remains inside the human body at all times. This implanted insulin pump delivers insulin into the peritoneal cavity, which has more number of blood vessels and can hence absorb insulin very efficiently. Implantable insulin pumps provide better treatment solutions for people who suffer from diabetes disease. There are two types of implantable insulin pumps are available in market, which include closed-loop insulin pump and open-loop insulin pump. ย
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Rise in population suffering from diabetes along with increase in awareness about insulin treatments that are available in the implantable insulin pump market drives the growth of the market. Moreover, technological advancements in implantable insulin pumps, rise in incidences of chronic diseases such as obesity and heart disorder and surge in demand for home-based therapies for diabetes management and consultation propel the growth of the market. Furthermore, rise in geriatric population coupled with increase in prevalence of diabetes, supportive reimbursement policies in healthcare system, and rise in R&D activities toward the development of novel implantable insulin pump products further boost the growth of the market. However, stringent government regulations expected to hamper the market growth during the forecast period. Conversely, high growth potential in emerging markets is expected to offer lucrative opportunities during the forecast period.
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The World Health Organization (WHO) on January 30, 2020 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. The COVID-19 pandemic has disrupted virtually each aspect of healthcare provision, including diabetes care. The impact of this pandemic on the implantable insulin pump market will provide learnings to medical device companies across other therapy areas both in the short and the long term. However, the outbreak of COVID-19 is expected to contribute to the growth opportunities for industries wherein the treatment and management of chronic conditions are carried out. According to several statistics from around the global scientific community, it is observed that the complications caused due to coronavirus include diabetic ketoacidosis, pneumonia, dehydration, and high blood sugar. Therefore, the diabetic care segment was observed to proliferate due to COVID-19. Thus, the outbreak of COVID-19 positively impacted the growth of the global market.
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- The study provides an in-depth analysis of the implantable insulin pump market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers implantable insulin pump market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global implantable insulin pump market growth.
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Comprehensive competitive analysis and profiles of major market players such as Apex Medical, CVS Health (Aetna Inc.), Diabeloop, Diamesco Co., Ltd, F. Hoffmann La Roche Ltd, Insulet Corporation, Johnson & Johnson, Medtronic Plc, SOOIL Developments Co. Ltd, and Tandem Diabetes Care.
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