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Insulin Patch Pump Market: Tech Progress

The global insulin patch pump market is expected to progress with a CAGR of 10.54% in the forecast period from 2023 to 2030. Get more insights into the blog

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Insulin Patch Pump Market: Tech Progress

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  1. InsulinPatchPumpMarket:TechProgress • Insulintherapyisanimportantaspectofdiabetesmanagementandtreatment.Today,anumberofinsulindeliverysystems,intheformofpens,syringes,jetinjectors,pumps,etc.,areusedbypatientstoregulatebloodsugarlevels.Nowadays,theyareincreasinglyoptingforpatchpumpsortubelesspumps,whicharecompactdigitaldevicesthatdeliverinsulindosesatregularintervals.Theglobal insulin patchpump marketisexpectedtoprogresswithaCAGRof10.54%intheforecastperiodfrom2023to2030. • Themarket’sgrowthcanbeattributedtotherisingpopularityoftheseskin-adhesivedevices,surgingdiabetesprevalence,demandforminimallyinvasivesystems,andincreasedeffortsinR&D.Patchpumpsarealsomoreaccurate,efficient,affordable,andeasiertousethanconventionalinsulindeliverypumps.Theseproductsareavailableindisposableaswellasreusableformats,andcanfunctionoptimallywithminimummonitoring.Also,theirdiscretenatureisoneofthekeyfactorsthathasincreasedtheiradoptionamongyoungerpatients. What’sInfluencingMarketGrowth? Theglobalburdenofdiabetesmellitushasburgeonedinrecentyears,owingtochanginglifestyles,risingobesityrates,increasinggeriatricpopulation,andunhealthyeatinghabits.Asof2021,morethan537millionadultsworldwidewerereportedtohavediabetes,accordingtotheInternationalDiabetesFederation(IDF).Andwithover74.2millionpatients,Indiaaccountsfor1in7ofalladultsaffectedbythecondition.

  2. Moreover,with$165.3billionin2021,Chinaaccountedforoneofthehighestdiabetes-relatedhealthcareexpenditures.Therisingdiabetes-relatedhealthcareexpenditurehasconsequentlyincreasedpatientdemandforself-managementoptionsfordiabetesintheregion.ThisisexpectedtoaidtheAsia-Pacific insulin patch pump market’sdevelopment,witha10.94%CAGRovertheforecastperiod. InsulatedbyInsulin– InvestmentsBoostProductDevelopment Inviewofincreasedspendingbyconsumers,themarketfacesahigherdemandforinnovativeinsulindeliverypatchpumps.Forinstance,JewelPUMPbyDebiotechSAisahighlyminiaturizedinsulindeliverypatchpumpwithtemperaturesensorsdedicatedforusebybothtype1andtype2diabetespatients. Whiletype1diabeticscompriseasmallportionofthetotaldiabetespatientpool,comparedtotheirtype2counterparts,theyaremoredependentoninsulintherapy.Theirpancreasproducelittletonoinsulin,whichmakesregularinsulinintakevitalfortheirsurvival.Inthiscase,patchpumpsarehandyastheyeliminatetheneedtocarryaninsulininfusionset. Type1diabetesisexpectedtogrowwiththefastestCAGRof11.08%inthediseaseindicationsegmentduring2023-2030.In2017,thegovernment-backedCanadianInstitutesofHealthResearch(CIHR)andtheJuvenileDiabetesResearchFoundation(JDRF)CanadaannouncedtheCIHR-JDRFPartnershiptoDefeatDiabetes,withaninvestmentof$30millioninadvancedresearchfortype1diabetes.Thispartnershipwasfurtherrenewed,withanadditionalinvestmentof$15millionin2021. Increasedinvestments,coupledwiththegrowingpatientdemandforaccessinghealthdatainauser-friendlyformat,haveledtothedevelopmentofsmartsolutionsfordiabetescare.Forinstance,inMarch2022,TerumoCorporationpartneredwithSaaS-basedappdeveloperGlooko.Thishasimprovedthequalityofremotepatientmonitoring,astheusersofTerumo’sMedisafeWithinsulinpatchpumpcantransfertheirdataonGlooko’sanalyticsportal,allowinghealthcareprofessionalstoviewtheirpatients’ latesthealthrecords. AI&MLTechnologiesPushingtheFrontiersinDiabetesCare Therisingusageoffitnesstrackingapps,smartwearables,andconnecteddevicesbypatientstogainreal-timeinsightshavepavedthewayforadvancedandtechnologically-integratedhealthcare.Forinstance,machinelearningusesphysiologicaloractivitysensorsembeddedintosmartdevicesorwearablestodeliverpersonalizedtherapy,whichhelpslowerhyperglycemiaandminimizetheoverallburden. Inaddition,theMiniMed780GbyMedtronicPlcisanadvancedpatchpumpthatusesartificialintelligence(AI)toautomateinsulindelivery.ItisincorporatedwithSmartGuardautomationforself-adjustingbasaldeliverywithauto-correctiondosingandadministeringbolusinsulin.Particularly,thereal-timedataofferedbysuchtechnologieshasenabledeffectiveremotemonitoringofolderorspecially-abledpatients.Improvedpatientoutcomesandexperiencearethusexpectedtodrivetheglobal AI in healthcare marketataCAGRof40.48%from2019to2027. InaNutshell Overtheyears,diabetesmanagementsolutionprovidershaveworkedtokeepupwiththeevolvingneedsofdiabeticpatients.Withusers’ increasingknowledgeandunderstandingoftheircondition,companieshaverespondedbyupgradingtheirinsulindeliverydevices,leveragingthepowerof

  3. technology.Forinstance,integratinginsulinpatchpumpswithcontinuousglucosemonitoringsystemshasoptimizedpumpuseandimprovedglycemicresponse.Suchinnovationsbymanufacturersareexpectedtopropeltheinsulinpatchpumpmarketonagrowthpath.technology.Forinstance,integratinginsulinpatchpumpswithcontinuousglucosemonitoringsystemshasoptimizedpumpuseandimprovedglycemicresponse.Suchinnovationsbymanufacturersareexpectedtopropeltheinsulinpatchpumpmarketonagrowthpath. FAQs: Q1)Whicharethekeysegmentsconsideredinthemarketreport? ProductType,DiseaseIndication,DeliveryMode,andDistributionChannel. Q2)Whichcountryisexpectedtoregisterthefastestgrowthrateintheglobalinsulinpatchpumpmarket? Australiaisexpectedtoexhibitthefastestgrowthglobally,withaCAGRof12.28%overtheforecastperiod.

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