NORTH AMERICA INSULIN PATCH PUMPS MARKET FORECAST 2023-2032

The North America insulin patch pumps market is estimated to record a CAGR of 11.09% during the forecasted period of 2023 to 2032, acquiring a revenue share of $1235.81 million by 2032.

Key drivers such as the rise in per capita income, increasing healthcare expenditure, as well as the surging incidence of diabetes are expected to propel the market growth in the region during the forecast period. However, the North America insulin patch pumps market is likely to be hindered due to stringent government regulations and the cumbersome approval process.

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The North America insulin patch pumps market growth evaluation includes a detailed study of the United States and Canada. With approximately 37.3 million Americans having diabetes in 2019, as per the American Diabetes Association (ADA), the chronic condition is one of the leading causes of mortality in the United States. Furthermore, around 1.4 million United States citizens are diagnosed with diabetes annually. According to the Centers for Disease Control and Prevention (CDC), more than 26 million people aged 65 years or older have prediabetes in the United States, with the total cost of diagnosed diabetes reaching $327 billion in 2017, as per the ADA.

On the other hand, the adoption of smart devices, in addition to technological advancements like artificial intelligence as well as data analytics, is expected to further fuel the market growth in the United States. Moreover, the presence of established market players in the country, such as Tandem Diabetes Care, Medtronic, Insulet Corporation and others, are set to play an essential role, as well. Collectively, these drivers are anticipated to augment the demand for insulin patch pumps over the upcoming years, thus propelling the market’s growth in North America.

The North America insulin patch pumps market is segmented into type, delivery mode, disease indication, and distribution channel. The type segment includes disposable and reusable. Disposable insulin pumps, also known as mechanical insulin pumps, entail devices into which patients can load insulin. With an intended use only for a single day, these devices are predominantly utilized by type 2 diabetes patients. While the majority of patch pumps have some disposable components, the others can be completely disposable. For example, Roche’s Accu-Chek patch pump is used with a handheld controller as well as a disposable insulin reservoir.

Conversely, reusable insulin pumps are capable of executing complex regimens for patients that use insulin. These pumps also provide variable basal rates as well as individually controlled bolus amounts. The segment is presently led by products such as Medtronic’s patch pumps, Omnipod by Insulet Corporation, and others.

Leading companies operating in the North America insulin patch pumps market include Medtronic PLC, Insulet Corporation, Tandem Diabetes Care Inc, etc.

Medtronic PLC, headquartered in the United States, offers treatment as well as therapies for several medical conditions, such as brain, airway and lung, mouth and dental, digestive and gastrointestinal problems, diabetes, ear, nose and throat, spine and orthopedic problems, as well as heart and vascular, in addition to other healthcare services. The company operates in four major segments: minimally invasive therapies group, diabetes group, cardiac and vascular group, and restorative therapies group.

MiniMed 630G Insulin Pump System by Medtronic has an intuitive design integrated with convenient features that help patients with diabetes management. The insulin pump system is approved for individuals with diabetes mellitus (ages 14 and over).

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