SAN FRANCISCO, April 22, 2020
SAN FRANCISCO, April 22, 2020 /PRNewswire/ -- Global insulin infusion pumps market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Insulin infusion pumps are the therapeutic devices that are used in healthcare amenities to offer precision, control, and accuracy in the delivery of fluids like blood, drugs, and nutrients to patients during treatment.
The factors that are playing a major role in the growth of insulin infusion pumps market are the rising use of enhanced technologies, the growing occurrence of chronic diseases, accessibility to enhanced healthcare facilities across the globe, and expansion of private-sector hospitals in rural areas in the emerging countries. However, strict regulatory policy for new products and the rising acceptance of refurbished infusion pumps may restrain the overall market in the years to come. Insulin infusion pumps market is segmented based on type, application, and region.
Implantable infusion pumps, volumetric infusion pumps, patient-controlled analgesia (PCA) infusion pumps, syringe infusion pumps, enteral infusion pumps, insulin infusion pumps, and ambulatory infusion pumps are the types that could be explored in insulin infusion pumps market in the forecast period.
The market may be categorized based on applications like academic and research institutes, hospitals, ambulatory care settings, home care settings, and others that could be explored in market in the forecast period. The hospital sector may account for the significant share of insulin infusion pumps market and is estimated to lead the overall market in the years to come. The reason could be the availability of trained personnel's to operate infusion devices, strong financial capabilities, and the large patient pool.
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Insulin infusion pumps market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).
Globally, North America may account for the significant share of insulin infusion pumps market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region, the high disposable income, and the high demand from the end-users. The United States is a major consumer of insulin infusion pumps in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise the rising occurrence of chronic diseases, the growing geriatric population, rapidly advancing health insurance sector, and the growing demand for enhanced technologies. The developing countries like India and China are the major consumers of insulin infusion pumps in this region.
The key players of insulin infusion pumps market are Insulet, Becton, Dickinson, Micrel Medical Devices, B. Braun Melsungen, Mindray Medical, Baxter, Halyard Health, Fresenius Kabi, Roche Diagnostics, ICU Medical, Terumo, and Medtronic. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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