EUROPE INSULIN PATCH PUMPS MARKET FORECAST 2023-2032

The Europe insulin patch pumps market is estimated to increase with a 10.08% CAGR during the assessment period of 2023-2032, generating a revenue of $685.27 million by 2032.

The increase in prevalence of diabetes is anticipated to propel market expansion within the region. Furthermore, the surge in global research partnerships focusing on technological advancements and heightened awareness regarding diabetes is expected to present opportunities for market players, thereby contributing to market growth in the region.

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The Europe insulin patch pumps market growth assessment entails the in-depth evaluation of France, Italy, Spain, the United Kingdom, Germany, Switzerland, Poland, and Rest of Europe. As per the IDF Diabetes Atlas, an estimated 3.9 million individuals aged between 20 to 79 years in the United Kingdom had diabetes in 2021, with a projected increase to 4.1 million by 2030. This trend is expected to drive market growth during the forecast period. Insulin pumps are typically covered by insurance policies such as national health coverage policies, thereby contributing to market expansion. Additionally, technological advancements and government awareness campaigns are anticipated to fuel market growth in the United Kingdom.

On the other hand, the IDF Diabetes Atlas 9th edition reported a prevalence of 15.3% for diabetes in Germany, with approximately 9.5 million adults affected in 2019. This prevalence is expected to continue to rise, further driving demand for insulin patch pumps and their market growth. The diabetes-related healthcare expenditure in Germany was estimated at $41,295.8 million in 2021, which is expected to fuel market expansion during the forecast period.

Furthermore, international research collaborations focusing on technological advancements and rising awareness regarding diabetes are anticipated to create opportunities for market players, leading to market growth.

The Europe insulin patch pumps market segmentation analysis includes distribution channel, delivery mode, type, and disease indication. Market by distribution channel covers online pharmacies, retail pharmacies, and hospital pharmacies.

A hospital pharmacy is a crucial department within a hospital that plays a pivotal role in preparing, stocking, and dispensing inpatient medications. These pharmacies typically offer a broader range of medications, including specialized and investigational medications that may not be readily available in a community setting. Furthermore, hospital pharmacies often provide prescription and over-the-counter medications to outpatients.

The rising healthcare expenditure and an increasing number of hospitals globally are expected to drive the growth of this segment during the forecast period. The proliferation of specialty hospital pharmacies and the expansion of integrated delivery networks are also expected to boost the segment’s growth. In addition, first-time patch pump users often prefer to purchase these devices from hospital pharmacies. The current shift in trend towards automated insulin delivery solutions is further expected to propel the growth of this segment.

In contrast, retail pharmacies, also known as community pharmacies, primarily sell drugs to patients. The evolution of this segment’s supply chain has resulted in reduced product prices and increased patient access to numerous medical devices. With the growing demand for medical devices, retail pharmacies have also increased. The rising awareness regarding insulin patch pumps for the self-management of diabetes has led to an increased demand for these devices.

Leading companies operating in the Europe insulin patch pumps market include F. Hoffmann-La Roche Ltd, Medtronic PLC, Insulet Corporation, etc.

Insulet is a dynamic medical device company that strives to enhance the quality of life for individuals with diabetes and other medical conditions via its Omnipod delivery system. The company’s groundbreaking products are presently obtainable in approximately 24 countries across several regions, including North America, Europe, the Middle East, and Asia-Pacific, including France, Germany, Canada, Mexico, Australia, and the United Arab Emirates. Insulet is headquartered in Massachusetts, United States.

Omnipod, Insulet’s flagship product, delivers continuous insulin through a tubeless, waterproof pump known as a Pod, eliminating the need for multiple daily injections.

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