Asia Pacific Insulin Pump Market Size, Share & COVID-19 Impact Analysis, By Product Type (Pumps [Tethered Pumps, Patch Pumps, and Others] and Consumables), By Disease Indication (Type 1 Diabetes and Type 2 Diabetes), By Distribution Channel (Hospital Pharmacy and Retail & Online Pharmacy), and Regional Forecast, 2023-2030

Asia Pacific held a significant share of the global insulin pump market. The Asia Pacific insulin pump market size is projected to grow at a CAGR of 20.0% during the forecast period. The global insulin pump market is projected to grow from USD 4.60 billion in 2022 to USD 15.51 billion by 2030.

The rising need for these pumps among the underserved population in the Asia Pacific region and growing product launches by industry players are expected to boost the Asia Pacific market during the forecast period.

• In March 2022, India Medtronic Private Limited, a wholly-owned subsidiary of Medtronic, announced the launch of MiniMed 780G system with SmartGuard technology to simplify type 1 diabetes management in India.

The Asia Pacific insulin pump market report covers the following countries/regions -  China, India, Australia, Japan, Southeast Asia, and the rest of Asia Pacific.

LATEST TRENDS

Rising Penetration of Insulin Pumps among Type 1 Diabetic Patients

The rising incidence of diabetes has significantly influenced the need for insulin and insulin delivery devices among patients suffering from type 1 diabetes. Thus, increasing product launches by key industry players and their extensive presence across the APAC region have increased awareness of insulin pumps. Moreover, rising initiatives by government agencies and healthcare providers on the advantages of these pumps over other conventional therapies will further raise the product’s awareness among patients.

• According to a multicenter study published by the NCBI in June 2021, among 1,603 children that suffered from type 1 diabetes, 15.2% of patients reported using insulin therapy in China.

DRIVING FACTORS

Rising Government Initiatives for Diabetes Care to Offer Lucrative Opportunities for Market Growth

The demand for diabetes management is increasing owing to the rising prevalence of this disease and its risk factors, such as obesity, hypertension, and others, among the patient population. Thus, several government agencies are implementing strategic initiatives, such as diabetes care programs and insulin delivery supply schemes to boost patient awareness of these devices. Such initiatives will propel the adoption of an insulin pump, further boosting the Asia Pacific insulin pump market growth.

• According to an article published by the Commonwealth of Australia, in November 2022, the Albanese Government subsidised access to the next generation of Omnipod insulin pumps to 130,000 Australians living with type 1 diabetes. The government is providing disposable pods through the National Diabetes Services Scheme (NDSS) at community pharmacies in Australia.

RESTRAINING FACTORS

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Lack of Reimbursement Policies in Developing Countries to Limit Pump Sales

The need for insulin pumps is rising across the Asia Pacific region for blood glucose control and diabetes self-management among patients. However, the costs associated with insulin pump therapy and its consumables are high. The lack of reimbursement policies for these pumps by healthcare agencies and health insurers is limiting their adoption across developing countries. Moreover, rising diabetes treatment costs in these countries will further hamper the market growth.

• According to an article published by the NCBI in June 2022, there is no reimbursement for these pumps and related supplies in China.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, Medtronic, Insulet Corporation, and Tandem Diabetes Care, Inc. are the major players in the Asia Pacific market with high growth rates recorded in 2022. This is owing to the extensive presence of advanced products and active involvement of companies in R&D investments to accelerate product launches during the forecast period.

Other prominent players, such as Terumo Corporation and SOOIL Developments Co., Ltd., are focusing on strengthening their product portfolios by launching technologically advanced devices and consumables across the region. This is further augmenting the Asia Pacific insulin pump market share.

• In June 2020, SOOIL Developments Co. Ltd. announced the launch of a two-way communication insulin pump 'Dana i' for diabetic patients in South Korea. The pump enabled non-face-to-face communication and treatment delivery between doctors and patients.

LIST OF KEY COMPANIES PROFILED:

• Medtronic (Ireland)


• Tandem Diabetes Care, Inc. (U.S.)


• Insulet Corporation (U.S.)


• F. Hoffmann-La Roche Ltd (Switzerland)


• Terumo Corporation (Japan)


• MicroTech Medical, Inc. (China)


• EOFLOW CO., LTD. (Korea)


• Ypsomed (Switzerland)


• SOOIL Developments Co., Ltd (Korea)

KEY INDUSTRY DEVELOPMENTS:

• October 2021: EOFlow Co., Ltd., a provider of wearable drug delivery solutions, announced the establishment of a joint venture company SINOFLOW Co., Ltd. in China with Changsha Sinocare Co., Ltd. to enter the ever-expanding Chinese diabetes market. The joint venture company will launch a clinical study to obtain regulatory approval for EOPatch manufacturing and distribution in China.


• November 2020: Diabeloop, a pioneer in therapeutic AI, and Terumo Corporation signed an agreement for the joint development of an Automated Insulin Delivery (AID) solution with exclusive distribution rights in Japan. The Diabeloop-developed system integrated Terumo’s innovative insulin patch pump.

REPORT COVERAGE

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The research report provides a detailed market analysis. It focuses on key aspects, such as the launch of new products, technological advancements, and the prevalence of diabetes. Besides this, the report offers valuable insights into the recent market trends and highlights key industry developments, such as mergers, partnerships, and acquisitions, along with the impact of COVID-19 on the market. In addition to the above-mentioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.

Report Scope & Segmentation