The insulin pump market size in MEA is anticipated to grow from USD 273.11 million in 2023 to USD 544.79 million by 2028, growing at a CAGR of 14.81% from 2023 to 2028.
Insulin pumps are electronic devices that can perform the same functions as the human pancreas. These tiny gadgets, including a sensor, continuously provide small insulin dosages to people with diabetes after each meal.
Technological developments and the increased acceptance of insulin pumps over older methods drive market expansion. Insulin pumps are ideal for patients who need many daily insulin injections. Because these devices are less invasive, they are widely used by patients. The manufacturers of insulin pumps are creating new-generation insulin pumps with improved technology to improve compliance and integration with IT devices, fueling market expansion. Technical advancements, such as the artificial pancreas and home infusion therapy, are expected to generate considerable growth prospects shortly. Furthermore, as people become more aware of insulin pumps and how to utilize them, their demand is growing in both developed and developing countries.
An increase in the prevalence of diabetes due to aging, obesity, an increasing geriatric population, a growing incidence of diabetes, and an unhealthy lifestyle is further estimated to favor the insulin pump market in the MEA region. Obesity is a primary cause of diabetes, and diabetes-related ocular problems are becoming more common.
The high cost of insulin pumps is the only significant stumbling block to the market's expansion. The lack of understanding of the product and its benefits compared to traditional insulin techniques is a major stumbling block for the product. Furthermore, research is underway into aerosolized insulin for inhalation, oral insulin, and insulin-producing stem cell implantation. Poor results are predicted to hamper the market expansion during the forecast period.
This research report on the Middle East and Africa insulin pump market has been segmented and sub-segmented into the following categories:
By Pump Type:
By End User:
Regarding revenue share, the Middle East and Africa accounted for a moderate global market share in 2020. However, due to the rise in the older population, which is more susceptible to diabetes, the market in this region is expected to grow steadily during the forecast period. Furthermore, advances in the region's healthcare system and the introduction of innovative medical items are driving up demand for insulin pumps.
Electronic insulin pumps are becoming more popular in the UAE as doctors and consumers become more aware of diabetes control and care. This is because, compared to traditional methods, new-generation pumps are more convenient, safe, and accurate.
Acquisitions, partnerships, and collaborations were among the inorganic growth tactics observed in the market in the UAE and Kuwait. These efforts have cleared the way for market participants to expand their client base and operations. With the increased demand of the regional market, market players in the insulin pump market are expected to have profitable growth prospects in the future.
KEY MARKET PLAYERS:
Animus Corporation (U.S.), Asante (U.S.), Cellnovo Ltd. (U.K.), Insulet Corporation (U.S.), Medtronics, Inc. (U.S.), Nipro Diagnostic, Inc. (Japan), Ypsomed (Switzerland), Roche (Switzerland), Sooil Development Co., Ltd. (Korea) and Tandem Diabetes Care, Inc. (U.S.) are a few of the noteworthy companies operating in the insulin pumps market in the MEA region.
The size of the insulin pump market in MEA is expected to be worth USD 237.8 million in 2022.
Factors such as increasing incidence of diabetes, government support for diabetes management, and the availability of advanced insulin pump technologies are some of the key factors driving the insulin pump market in MEA.
Medtronic, Roche, Insulet, and Tandem Diabetes Care are some of the leading companies in the MEA insulin pump market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]