Asia Pacific Insulin Pump Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

Asia Pacific Insulin Pump Market Overview:

Significantly accelerating the growth of the insulin pump market in the APAC area are the region's Y-o-y increase in diabetes prevalence and the population's increased focus on optimal diabetes management treatment.  An estimated 80 million people in southeast Asia were anticipated to have diabetes in 2017, according to data from the journalofdiabetology.org; by 2045, this number is expected to go up to 151 million. According to the World Health Organization, diabetes affects 10% of China's adult population. In India, the adult population has a diabetes prevalence of 72.96 million. According to WHO, diabetes is becoming more common in Bangladesh at a noticeable rate. Between 2001 and 2005, the population as a whole had a prevalence of 5%, and from 2006 to 2010, it had risen to 9%

 

Asia Pacific Insulin Pump Market Dynamics:

Due to an increase in insulin pump sales at this time due to the COVID-19 epidemic, the APAC insulin pump market has been able to further expand. Insulin pumps are apparently utilised by the region's expanding diabetes population to manage their condition, mostly in the region's emerging countries.

 

Increased government initiatives in APAC to adopt new technologies, rising incidence of lifestyle illnesses, and rising demand for modernized medical facilities are all driving the growth of the insulin pump market in this region. According to estimates, type 1 and type 10 diabetes affect around 114 million people in China; type II diabetes affects individuals more frequently than type 1 diabetes.

 

 

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Another important element encouraging the market to expand is technological advancements. For instance, "Medtronic has maintained its position as the primary market player in the Asia-Pacific due to its invention in technology improvements, offering the patient in need, and putting into practice combined agreements. During the projection period, it is predicted that the Asia-Pacific insulin pump market will develop faster due to the tough rivalry from local market competitors.

 

Lack of focus on improving healthcare services and limited access to technical improvements could limit the growth of Another important element encouraging the market to expand is technological advancements. For instance, "Medtronic has maintained its position as the primary market player in the Asia-Pacific due to its invention in technology improvements, offering the patient in need, and putting into practice combined agreements. During the projection period, it is predicted that the Asia-Pacific insulin pump market will develop faster due to the tough rivalry from local market competitors.

 

Lack of focus on improving healthcare services and limited access to technical improvements could limit the growth of insulin pump market in the area. The region's market expansion was constrained during the assessment period by a lack of vigilance and rigorous administrative and governmental policies. The high cost of insulin pumps and competitive pressure on consumable prices are impeding market expansion in APAC. insulin pump market in the area. The region's market expansion was constrained during the assessment period by a lack of vigilance and rigorous administrative and governmental policies. The high cost of insulin pumps and competitive pressure on consumable prices are impeding market expansion in APAC.

 

Asia has experienced an epidemic rise in the number of diabetic patients over the past few decades. The majority of people with diabetes live in underdeveloped nations (more than 60%). Blood sugar levels are occasionally not monitored by self-testing for glucose. Therefore, patients with diabetes require both an insulin pump and continuous glucose monitoring.

 

Asia Pacific Insulin Pump Market Segment Analysis:

Based on Product Type, the Asia Pacific Insulin Pump Market is segmented into Pumps and Consumables. The pumps sector accounted for the biggest market share because of the advantages of pumps over several daily injections, continuous glucose monitors, and other devices. As a result, the use of these pumps is rapidly expanding in developed countries. According to Elizabeth Gasser, chief strategy officer of Tandem, the usage of pumps among patients with type diabetes worldwide increases with market penetration in the APAC, reaching approximately 40 by 2027, respectively. The consumables section is likely to grow significantly during the projected period due to the fact that these pumps are being more commonly used internationally and as a result, there is a greater requirement for consumables. Due to a number of factors, including their relative lower cost, ease of availability, and shorter replacement cycles for products like infusion sets, batteries, and insulin vials compared to pumps, consumables are being used more and more in different parts of the world.

 

 

Based on Distribution Channel, The Asia Pacific Insulin Pump market is segmented into Hospital Pharmacy and Retail & Online Pharmacy. Due to the increased availability of diabetes management devices and solutions in retail and pharmaceutical outlets in developing and established nations, the retail & online pharmacy segment, with a sizeable share, led the market. The majority of customers prefer to buy these devices from pharmacies based on affiliation with hospitals, which accounts for the expansion of the hospital pharmacy industry. The expansion of the reimbursement programs for consumables like pumps is also a factor.

 

Asia Pacific Insulin Pump Market Regional Insights:

Geographically, the Asia-Pacific area is anticipated to have a strong CAGR for the insulin pump market and is also regarded as a place that generates profits.  Due to its economic prosperity and large diabetes population, the Chinese insulin pump market is anticipated to dominate the APAC Insulin pump market over the forecast period. Growth is likely to be accelerated by upgraded nations in the region acquiring the newest technologies. China held over 72% of the market in the Asia-Pacific for insulin infusion pumps in 2020. The Chinese market for insulin infusion pumps is anticipated to reach a value of USD 1.63 billion by 2024.

 

Due to rising discretionary spending and easy access to excellent medical treatments, the Japanese insulin pump market is expanding at the quickest rate. Strong growth rates and an increase in healthcare spending per person are combined with a large number of diabetic patients.

 

From 2024 to 2030, the market for insulin pumps in India is anticipated to expand at a CAGR of 11 percent. The expansion of the Indian market is largely due to the expanding patient population and rising healthcare costs.

 

The objective of the Asia Pacific Insulin Pump report is to present a comprehensive analysis of the Asia Pacific Insulin Pump market to the stakeholders in the industry. The Asia Pacific Insulin Pump report provides trends that are most dominant in the Asia Pacific Insulin Pump market and how these trends will influence new business investments and market development throughout the forecast period. The Asia Pacific Insulin Pump report also aids in the comprehension of the Asia Pacific Insulin Pump Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Insulin Pump market report will assist in understanding which market segments, regions, and factors affecting the Asia Pacific Insulin Pump market, as well as key opportunity areas, will drive the industry and market growth over the forecast period. The Asia Pacific Insulin Pump report also includes the competitive landscape of key industry players, as well as their recent developments in the Asia Pacific Insulin Pump market. The Asia Pacific Insulin Pump report investigates factors such as company size, market share, market growth, revenue, production volume, and profits of the market's key players.

 

The report includes Porter's Five Force Model, which aids in the development of market business strategies. The report assists in determining the number of competitors, who they are, and the quality of their products in the Asia Pacific Insulin Pump market. The report also examines whether it is easy for a new player to gain a foothold in the Asia Pacific Insulin Pump market, whether they enter or exit the market on a regular basis, whether the market is dominated by a few players, and so on.

 

The Asia Pacific Insulin Pump report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Insulin Pump market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Insulin Pump market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Insulin Pump market is aided by legal factors.

 

Asia Pacific Insulin Pump Market Scope:

Asia Pacific Insulin Pump Market
Market Size in 2023	USD 1.23 Bn.
Market Size in 2030	USD 3.73 Bn.
CAGR (2024-2030)	17.2%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Type Pumps Consumables
	By Application  Hospital Pharmacy Retail & Online Pharmacy
Country Scope	China India  Japan  South Korea Australia  ASEAN Rest of APAC

 

Asia Pacific Insulin Pump Market Key Players

• Sooil Development Co. (Korea)
• Nipro Diagnostic, Inc. (Japan)
• Diabetic Insulin Pump India (India)
• Tandem Diabetes Care (U.S.)
• Cellnovo Ltd (U.K.)
• Ypsomes (Switzerland)