Insulin pumps are devices that are used to administer insulin to the body in order to control diabetes. Insulin pumps, infusion sets, insulin reservoirs/cartridges, infusion set insertion devices, and others are the major segments of the global insulin pumps and accessories market. The increasing prevalence of diabetes, the development of various types of insulin, and the growing awareness of diabetes and insulin-delivery devices are the key factors driving the growth of this market. Furthermore, the development of artificial pancreas and home infusion therapy is promoting the growth of this market to some extent. Furthermore, professional and consumer information programmes offered by insulin infusion pump manufacturers are encouraging the use of insulin-delivery devices and, as a result, driving the market's growth.
Because of the presence of major players in insulin pumps, North America dominated the Insulin Pumps Market and captured the largest revenue share of around 46.1 percent in 2020. Furthermore, rising obesity rates, high treatment costs, technological advancement, and product launches are expected to drive the market in the region. Due to an increase in the geriatric population, which is prone to diabetes, Europe is also expected to capture a significant market share during the forecast period. Furthermore, advancements in the region's healthcare sector and the implementation of advanced medical products are increasing demand for insulin pumps.
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