Rise in prevalence of diabetes across the globe, surge in government expenditure on healthcare, and sedentary and unhealthy lifestyle drive the global implantable insulin pump market. The market across North America dominated in 2020 in terms of revenue, accounting for nearly two-fifths of the market. The Covid-19 pandemic disrupted the majority of the industries across the globe, especially the healthcare industry.

Portland, OR, Sept. 22, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Implantable Insulin Pump Market was pegged at $2.67 billion in 2020, and is estimated to reach $6.44 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030.

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Rise in prevalence of diabetes across the globe, surge in government expenditure on healthcare, and sedentary and unhealthy lifestyle drive the global implantable insulin pump market. However, stringent government regulations hinder the market growth. On the contrary, high market growth potential in emerging markets would open new opportunities for the market players in the future.

Covid-19 scenario:

• The Covid-19 pandemic disrupted the majority of the industries across the globe, especially the healthcare industry. Due to the pandemic, the demand for implantable insulin pumps increased as they are vital in diabetes care.

• It is witnessed that the complications caused due to Covid-19 virus such as pneumonia, ketoacidosis, dehydration, and high blood sugar increased the demand for better methods to treat such chronic symptoms. This favored the growth of the market.

The report segments the global implantable insulin pump market on the basis of type, disease, end user, and region.

Based on type, the open-loop insulin pump segment held the lion’s share in 2020, accounting for nearly 88% of the market. Moreover, the segment is projected to manifest the highest CAGR of 9.3% from 2021 to 2030. The report analyzes the closed-loop insulin pump segment.

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On the basis of end user, the hospitals segment held the largest share in 2020, contributing to nearly two-thirds of the market. However, the home care segment is projected to register the highest CAGR of 9.6% during the forecast period.

The global implantable insulin pump market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020 in terms of revenue, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is expected to portray the highest CAGR of 11.5% during the forecast period.

The global implantable insulin pump market report includes an in-depth analysis of the prime market players such as CVS Health (Aetna Inc.), Apex Medical, Diamesco Co., Ltd, Diabeloop, Insulet Corporation, F. Hoffmann La Roche Ltd, Medtronic Plc, Johnson & Johnson, SOOIL Developments Co. Ltd, and Tandem Diabetes Care.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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