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Insulin Patch Pumps Market Size Worth $1.7 Billion by 2027 | CAGR: 10.9%: Grand View Research, Inc.

SAN FRANCISCO, April 2, 2020 /PRNewswire/ -- The global insulin patch pumps marketA size is expected to reach USD 1.7 BillionA by 2027, according to a new report by Grand View Research, Inc., exhibiting a CAGRof 10.9%A over the forecast period. The market is primarily driven by factors such as increasing diabetic population and rising awareness about advanced diabetes management solutions. Moreover, technological advancements and several product launches in the field of insulin patch pumps are further augmenting growth.Key suggestions from the report:

North America accounted for the largest share in 2019, owing to favorable reimbursement policies and launch of several innovative patch pumps



Asia Pacific is expected to see robust growth during the forecast period, owing to the increasing diabetic population coupled with rising awareness about diabetes preventive care



By delivery mode, basal & bolus segment dominated in 2019, owing to wide usage of these therapy in both type1 and type 2 diabetes patients



By product type, the reusable segment is dominating the insulin patch pumps market due to increasing adoption of these devices



By distribution channel, the hospital segment dominated in 2019 due to expansion of the integrated delivery network



Some of the leading players are Medtronic Plc; Roche Diagnostics; Valeritas; Cellnovo Ltd.; Insulet Corporation; and CeQur.



Mergers and acquisitions are the primary expansion techniques used by these players.



For instance, in July 2018, CeQur purchased a certain asset from Calibra Medical-a subsidiary of Johnson & Johnson. This acquisition helped CeQur gain an exclusive license for Calibra's wearable insulin delivery system product.

Read 110 page research report with ToC on "Insulin Patch Pumps Market Size, Share & Trends Analysis Report By Delivery Mode (Basal, Bolus, Basal & Bolus), By Type, By Distribution Channel (Hospitals, Retail Pharmacies, Private Clinics, Online Pharmacies), And Segment Forecasts, 2020 - 2027'' at:A https://www.grandviewresearch.com/industry-analysis/insulin-patch-pump-marketPatch pumps are easy to use and more convenient than conventional insulin pumps. In addition, they are more affordable than conventional insulin pumps and are rapidly capturing a significant share of the insulin patch pumps market. Key players are using novel technologies and offer user-friendly insulin delivery solutions at lower prices. This is expected to increase the frequency of product launches during the forecast period, boosting overall growth.Increasing healthcare expenditure related to diabetes and rising number of FDA approvals are further aiding growth. For instance, in March 2019, a South Korean Company-EoFlow-received FDA approval for its newly designed patch pump-EoPatch in the U.S.A 
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