North America Insulin Pump Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics

North America Insulin Pump Market Overview:

The North American market for insulin pumps is expanding at a large rate due to the population's fast increasing prevalence of diabetes and growing understanding of how to treat it. The International Diabetes Federation (IDF) estimates that there were 537 million people with diabetes worldwide in 2023, and that figure is expected to climb to 783 million by the year 2045. According to the World Health Organization, diabetes can result in blindness, renal failure, and stroke. The North American insulin pump market is expanding at a large rate due to factors such as rising healthcare costs, easier access to healthcare facilities, and the widespread availability of upgraded insulin pumps. The demand for insulin pumps is increasing as a result of the rising requirement for routinely regulating blood glucose levels. The technological developments in drug delivery systems are also providing a wealth of opportunities for market players to flourish.

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North America Insulin Pump Market Dynamics:

The most significant element driving the diabetes market in the area is the increased prevalence of diabetes in the United States. 7.4 percent, or 24.18 million people, in the United States had diabetes in 2017. According to statistics, one in ten people in the country have diabetes, and by 2050, it's expected that one in three people will have the disease (according to the Center for Disease Control and Prevention).

The ease of use of insulin pumps is a major factor in their widespread adoption, which has a positive impact on the market's expansion. In order to manage their ailment, more diabetic patients throughout the world are requesting more insulin pumps, which is expected to greatly speed up market growth. The North American market for insulin pumps is also boosted by elements including the rising prevalence of diabetes, the different forms of insulin, and increased public knowledge of diabetes and insulin delivery systems. Additionally, to a certain extent, the development of the artificial pancreas and home infusion therapy further supports the growth of this industry. Additionally, producers of insulin infusion pumps offer professional and consumer education programs that promote the use of insulin delivery systems, which is ultimately fueling the expansion of this market.

Additionally, the market's growth pace is being boosted by an increase in home healthcare infusion therapy, an increase in the senior population, and a rise in the demand for individualized medicine. Market expansion potential will be boosted by the government providing more support through investments in healthcare facilities and changes to public policy. The North American market for insulin pumps is expanding as more people are being diagnosed with eye illnesses, cardiovascular diseases, and other conditions.

North America Insulin Pump Market Segment Analysis:

Based on Pump Type, the North America Insulin Pump Market is segmented into Tethered Pump and Patch Pump. Depending on the type of pump, the tethered pump sector controlled more than 62 percent of market revenue in North America in 2023. The tethered pumps are in high demand throughout North America because of their advantages and portability. Additionally, the handsets can be linked to tethered insulin pumps, making it simple to check blood glucose levels. As a result, the latest and most sophisticated features attached to tethered pumps have accelerated their adoption among the diabetic community in North America.

Based on End User, The North America Insulin Pump market is segmented into Hospitals, Clinics, Homecare and Laboratories. During the forecast period, the homecare segment is anticipated to have the greatest CAGR. The primary drivers of the expansion of the homecare insulin pump market in North America are the expanding product acceptance, rising disposable income, rising consumer awareness, and the straightforward availability of insulin pumps for at-home use.

North America Insulin Pump Market Regional Insights:

The market for insulin infusion pumps is dominated by the United States, which is expected to grow at a CAGR of 13.3 percent over the forecast period. The market for insulin pumps may be driven by technological improvements. Pumps are less intrusive, and the introduction of a wireless pump and Smart pump, like Medtronic's MiniMed, was a breakthrough in the insulin infusion pump business. This wireless system included a Paradigm Link Blood Glucose Monitor and a Medtronic MiniMed Paradigm 512 Insulin Pump.

The Paradigm 512 insulin pump receives the blood sugar level automatically using wireless technology from the Paradigm monitor. Based on data input by the user, the Bolus Wizard calculator on the insulin pump calculates diabetes math and suggests the correct insulin dosage.

The objective of the North America Insulin Pump report is to present a comprehensive analysis of the North America Insulin Pump market to the stakeholders in the industry. The North America Insulin Pump report provides trends that are most dominant in the North America Insulin Pump market and how these trends will influence new business investments and market development throughout the forecast period. The North America Insulin Pump report also aids in the comprehension of the North America 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 North America Insulin Pump market report will assist in understanding which market segments, regions, and factors affecting the North America Insulin Pump market, as well as key opportunity areas, will drive the industry and market growth over the forecast period. The North America Insulin Pump report also includes the competitive landscape of key industry players, as well as their recent developments in the North America Insulin Pump market. The North America 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 North America Insulin Pump market. The report also examines whether it is easy for a new player to gain a foothold in the North America 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 North America 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 North America Insulin Pump market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Insulin Pump market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Insulin Pump market is aided by legal factors.

North America Insulin Pump Market Scope:

North America Insulin Pump Market Key Players

• Animus Corporation (U.S.)
• Asante (U.S.)
• Insulet Corporation (U.S.)
• Medtronics, Inc. (U.S.)
• Tandem Diabetes Care (U.S.)
• Cellnovo Ltd (U.K.)
• Ypsomes (Switzerland)
• Sooil Development Co. (Korea)
• Nipro Diagnostic, Inc. (Japan)