Insulin pump Market Growth Prospects, Developments Plans, Future Insights and Trends Analysis Till 2035
In 2024, most of the revenue generated in insulin pumps domain is likely to be driven by automated / smart pumps, followed by revenues generated by manual pumps.
The different driving factors for the insulin pumps market include the growing prevalence of chronic diseases (requiring real-time monitoring), shift towards decentralized trials (eliminating need for frequent in-person visits by the patient) and increasing adoption of smart digital devices. Our estimates suggest that, presently, in terms of type of pump, majority share of the insulin pumps market is captured by patch pumps; this can be attributed to the fact that they can be conveniently operated wirelessly by a separate device to monitor blood sugar levels continuously throughout the day and allow automatic delivery of insulin after meals.
The insulin pump market size is projected to grow from $ 5.8 billion in 2024 to $ 13.6 billion by 2035, representing a CAGR of 8% during the forecast period till 2035.
It is worth mentioning that, in 2035, rechargeable batteries are likely to dominate the insulin pumps market.
Further, currently, the maximum revenue generated in this domain is likely to be driven by insulin pumps targeting Type 1 diabetes and this trend (in terms of market size) is unlikely to change in the future as well. Notably, the insulin pumps market is anticipated to grow at a higher pace, having a CAGR of 8%, during the forecast period. Moreover, in 2024, retail pharmacies capture around 50% share of the overall market, followed by the market share captured by online pharmacies (23%).
Increase in the Intellectual Capital- An Evidence for Progression in R&D Activity for Insulin Pumps
Over 1,600 patents related to insulin pumps have been filed / granted, indicating the heightened pace of innovation in this domain. Notably, around 35% of the patents were published in 2022, followed by those published in 2023 (31%). Further, most (~55%) of the patents in this domain were patent applications (not having received approval yet).
Despite the large number of patents that have been filed recently (and hence having a long remaining patent life), only 1% of the total patents filed in this domain have a significantly higher relative valuation. This is primarily because of the relatively low citations of the patents that have been filed recently, leading to low patent value. It is worth mentioning that Medtronic leads in insulin pump patent filings, demonstrating its strong commitment to advancing glucose management through designing of innovative pumps.
Insulin Pumps: Bridging The Gap to Improve Diabetes Control
In recent decades, the prevalence of diabetes has risen dramatically worldwide; it is worth mentioning that diabetes affects more than 420 million people globally. The conventional treatment approaches for diabetes management include lifestyle changes, oral therapeutics and insulin injections; however, these approaches have certain drawbacks such as painful and inconvenient procedures that often result in poor medication adherence.
To view more details on this report, click on the link
https://www.rootsanalysis.com/reports/insulin-pump-market.html Insulin pump Market Growth Prospects, Developments Plans, Future Insights and Trends Analysis Till 2035
In 2024, most of the revenue generated in insulin pumps domain is likely to be driven by automated / smart pumps, followed by revenues generated by manual pumps.
The different driving factors for the insulin pumps market include the growing prevalence of chronic diseases (requiring real-time monitoring), shift towards decentralized trials (eliminating need for frequent in-person visits by the patient) and increasing adoption of smart digital devices. Our estimates suggest that, presently, in terms of type of pump, majority share of the insulin pumps market is captured by patch pumps; this can be attributed to the fact that they can be conveniently operated wirelessly by a separate device to monitor blood sugar levels continuously throughout the day and allow automatic delivery of insulin after meals.
The insulin pump market size is projected to grow from $ 5.8 billion in 2024 to $ 13.6 billion by 2035, representing a CAGR of 8% during the forecast period till 2035.
It is worth mentioning that, in 2035, rechargeable batteries are likely to dominate the insulin pumps market.
Further, currently, the maximum revenue generated in this domain is likely to be driven by insulin pumps targeting Type 1 diabetes and this trend (in terms of market size) is unlikely to change in the future as well. Notably, the insulin pumps market is anticipated to grow at a higher pace, having a CAGR of 8%, during the forecast period. Moreover, in 2024, retail pharmacies capture around 50% share of the overall market, followed by the market share captured by online pharmacies (23%).
Increase in the Intellectual Capital- An Evidence for Progression in R&D Activity for Insulin Pumps
Over 1,600 patents related to insulin pumps have been filed / granted, indicating the heightened pace of innovation in this domain. Notably, around 35% of the patents were published in 2022, followed by those published in 2023 (31%). Further, most (~55%) of the patents in this domain were patent applications (not having received approval yet).
Despite the large number of patents that have been filed recently (and hence having a long remaining patent life), only 1% of the total patents filed in this domain have a significantly higher relative valuation. This is primarily because of the relatively low citations of the patents that have been filed recently, leading to low patent value. It is worth mentioning that Medtronic leads in insulin pump patent filings, demonstrating its strong commitment to advancing glucose management through designing of innovative pumps.
Insulin Pumps: Bridging The Gap to Improve Diabetes Control
In recent decades, the prevalence of diabetes has risen dramatically worldwide; it is worth mentioning that diabetes affects more than 420 million people globally. The conventional treatment approaches for diabetes management include lifestyle changes, oral therapeutics and insulin injections; however, these approaches have certain drawbacks such as painful and inconvenient procedures that often result in poor medication adherence.
To view more details on this report, click on the link
https://www.rootsanalysis.com/reports/insulin-pump-market.html
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