The latest market report published by Credence Research, Inc. “Global Europe Insulin Patch Pumps Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The Europe insulin patch pumps market has witnessed steady growth in recent years and is expected to grow at a CAGR of 10.50% between 2023 and 2030. The market was valued at USD 394.8 billion in 2022 and is expected to reach USD 794.1692918 billion in 2030.
Key Drivers
The primary drivers fueling the growth of the Europe insulin patch pumps market are:
Rising Incidence of Diabetes: Europe has witnessed a substantial increase in the prevalence of diabetes in recent years. According to the International Diabetes Federation (IDF), the number of people with diabetes in Europe is expected to reach an estimated 68 million by 2040. Insulin patch pumps provide a practical and non-invasive alternative for routine insulin administration, meeting the needs of individuals with diabetes more effectively.
Continuous Advancements in Technology: The insulin patch pump industry has embraced innovation and cutting-edge technology, leading to more efficient and user-friendly devices. These advancements have enhanced patient outcomes and diabetes treatment, driving higher adoption rates of insulin patch pumps.
Growing Demand for Non-Invasive Insulin Delivery: Insulin patch pumps offer discreet and convenient insulin administration, making them an attractive option for patients who prefer a more covert method of insulin delivery. Patient testimonials often highlight the seamless integration of patch pumps into their daily lives, boosting the demand for these devices.
Europe Insulin Patch Pumps Market opportunities are growing exponentially, providing a promising future for individuals living with diabetes. These innovative devices offer a convenient and discreet alternative to traditional insulin delivery methods, such as injections or bulky pumps. With the rising prevalence of diabetes in Europe, estimated at over 60 million people by 2045, the demand for efficient and user-friendly insulin management solutions is on the rise. The market is witnessing significant advancements in technology, allowing for improved accuracy in dosage administration and continuous glucose monitoring capabilities. Moreover, these patch pumps provide enhanced flexibility by eliminating the need for tubing and wires commonly associated with conventional pump systems.
Browse 230 pages report Europe Insulin Patch Pumps Market By Type (Pumps, Tethered, Patch, Others, Consumables) By Diabetes type (Diabetes 1, Diabetes 2) – Growth, Future Prospects & Competitive Analysis, 2016 – 2030)- https://www.credenceresearch.com/report/insulin-patch-pumps-market
Market Segmentation
The Europe insulin patch pumps market is segmented based on type, diabetes type, distribution channel, and region.
Type Segmentation
Pumps: Pumps are the most popular segment, accounting for around three-fifths of the market share in terms of value in 2022.
Tethered: The tethered segment is anticipated to exhibit the fastest CAGR during the forecast period.
Patch: Patch pumps are another prominent segment offering non-invasive insulin delivery options.
Others: The market also includes other types of insulin patch pumps and consumables to cater to diverse consumer preferences.
Diabetes Type Segmentation
Diabetes 1: The diabetes 1 segment is anticipated to hold more than 30% of the market share in value in 2022.
Diabetes 2: The diabetes 2 segment is also expected to exhibit a considerable CAGR during the forecast period.
Distribution Channel Segmentation
Hospital Pharmacies: Hospital pharmacies govern the demand for insulin patch pumps, holding a significant share in terms of value in 2022.
Retail & Online Pharmacies: Retail and online pharmacies also contribute to the distribution of insulin patch pumps.
Regional Segmentation
Germany: Germany was a major driving force in the growth of the Europe insulin patch pumps industry, holding nearly two-fifths of the market share in 2022.
France and the UK: These countries collectively accounted for nearly 60% of the market share in 2022, with France holding a share of nearly 25% in the same year.
Competitive Landscape
The Europe insulin patch pumps market is highly competitive, with several key players dominating the industry. Major players such as Medtronic, Tandem Diabetes Care, Inc., Insulet Corporation, ViCentra B.V., F. Hoffmann-La Roche Ltd, Terumo Corporation, and CeQur Simplicity constantly innovate and expand their product offerings to stay ahead in the market.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Europe Insulin Patch Pumps Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- Major nations in each region with their import/export statistics
- The global Europe Insulin Patch Pumps Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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