Insulin Pump Market
Insulin Pump Market Forecasts to 2028 - Global Analysis By Type (Tethered Pump and Patch Pump), Nature (Conventional and Organic), Product (Omnipod, My Life Omnipod, Tandem, MiniMed, Accu-Chek and Other Products), Accessories (Insulin reservoir or cartridges, Insulin set insertion devices and Battery ), Application (Type I Diabetes and Type II Diabetes), End User and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $5.06 BN |
Projected Year Value (2028) |
US $12.03 BN |
CAGR (2022 - 2028) |
15.5% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
North America |
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Insulin Pump Market is accounted for $5.06 billion in 2022 and is expected to reach $12.03 billion by 2028 growing at a CAGR of 15.5% during the forecast period. Insulin pumps are compact, computerised devices that are configured to provide a diabetic patient predetermined insulin doses. An insulin pump is a portable device that can be attached to the body and constantly supply preset doses of short or rapid acting insulin in the body to treat diabetes. Type 1 diabetes and occasionally type 2 diabetes both require insulin therapy. It functions as a useful substitute for insulin injections.
According to the IDF Diabetes Atlas, in 2021, approximately 537 million adults aged 20-79 years will be living with diabetes. Also, the total number of patients suffering from diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.
Market Dynamics:
Driver:
Recent product approvals along with presence of robust pipeline
The increasing prevalence of these pumps among diabetics in developing and emerging nations causes market participants to focus on R&D of technologically enhanced devices and the development of new products. Several clinical trials that indicate indications of persistent improvement in glucose control in type 2 diabetes patients receiving pump therapy as opposed to those receiving Multiple Daily Injection (MDI) therapy have complemented R&D.
Restraint:
High cost of insulin pumps to limit its adoption
The increased prevalence of type 1 and type 2 diabetes worldwide, as well as the growing need for these pumps to be easier and more effective to use than the MDI, are some of the causes driving the expansion of these pumps. However, it is anticipated that throughout the projection period, market expansion will be constrained by the high cost of insulin pump therapy. Modern medication delivery systems, such pumps, have upended long-standing healthcare dynamics and signalled the beginning of a new age for the sector. Thus, the high cost of insulin pump is limiting the adoption of these pumps in the market.
Opportunity:
Recent product approvals
The market participants are concentrating on R&D of technologically sophisticated goods and launching new products in response to the growing adoption of these pumps among diabetic patients in developed and emerging nations. Clinical trials have added to R&D and demonstrated sustained glucose control improvements in type 2 diabetes patients receiving pump therapy compared to those receiving multiple daily injection (MDI) therapy.
Threat:
Inadequate reimbursement policies
Furthermore, lack of understanding about diabetes treatment alternatives and poor reimbursement regulations in underdeveloped nations are some of the causes behind the restricted adoption of these pumps in these countries. As a result, the expensive price of insulin pumps is preventing their widespread use in the market. Additionally, there has been less global adoption of these products due to increased out-of-pocket costs associated with these pumps and restricted reimbursement in developing nations.
Covid-19 Impact
The market grew more slowly than anticipated over the projection period as a result of COVID-19. Delays in diabetes diagnosis and treatment, as well as patient purchases of these pumps over the period, are factors responsible for the market's slow development. Additionally, during the COVID-19 epidemic, the supply of pumps and consumables was disrupted as a result of limitations put in place by the governments of the various nations. For instance, according to the American Diabetes Association, people who use CGM or pumps reported 15% delayed refilling of needed supplies during the pandemic.
The tethered pumps segment is expected to be the largest during the forecast period
The tethered pumps segment is estimated to have a lucrative growth, due to its portability and convenience that allows the patients to carry it in their pockets. Additionally, it can be connected to mobile devices for simple control and blood glucose level monitoring. Because of these advantages, there is now a higher demand for tethered pumps. The reliability of these conventional pumps and the variety of goods on the market are primarily responsible for the segment's huge market size.
The insulin reservoir or cartridges segment is expected to have the highest CAGR during the forecast period
The insulin reservoir or cartridges segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increasing adoption of tethered pumps. This usually entails inserting an insulin cartridge into the reservoir or drawing insulin from a vial into the reservoir. These reservoirs can store up to 300 units of insulin and can last for at least two to three days without needing to be changed. The aforementioned elements are anticipated to propel the segment's expansion.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to the factors such as favorable reimbursement environment in the U.S. for these pumps. Furthermore, the expansion of the insulin pump market in North America has been aided by the existence of multiple major market participants in the area, higher diabetes prevalence, and rising public demand for novel medication delivery technologies. The population's adoption of insulin pumps has been prompted by rising disposable income and health awareness, and the region is expected to maintain its leadership during the forecast period.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to increasing healthcare funding and government initiatives to spread awareness about diabetes. The growing number of diabetes patients and increasing awareness towards glycemic control and advance insulin delivery devices in these regions drives the market growth.
Key players in the market
Some of the key players profiled in the Insulin Pump Market include JingasuDelfu Co., Ltd., Insulet Corporation, Sooil Development, Medtronic, Valeritas, Inc, Cellenovo, Tandem Diabetic Care, Inc., Ypsomed, Hoffmann-La Roche Ltd, Braun Melsungen Abbott Laboratories, Dickinson and Company
Key Developments:
In June 2022, Insulet Corporation, a world leader in tubeless insulin pump devices and technology, announced an investment of approximately USD 200 million in its upcoming manufacturing facility in Johor over the next five years. This would produce the company’s Omnipod Insulin Management System as part of its ambition to strengthen its worldwide manufacturing capabilities.
In June 2022, Diabeloop, a world leader in therapeutic AI, and SOOIL Development Company, a leader in superior diabetes therapy announced an agreement for worldwide development at the American Diabetes Association Scientific Sessions. The collaboration is anticipated to establish clinical trials for expanding their cooperation and provide access to their goods to as many patients as possible through new innovative products.
In April 2022, Ypsomed announced a collaboration with Abbott and CamDiab to develop an integrated AID (automated insulin delivery) system. The new integrated AID system is being designed to link Abbott's FreeStyle Libre 3 with Ypsomed's MyLife YpsoPump to make a smart, and an automatic procedure for delivering insulin with realistic glucose data.
In January 2020, Tandem Diabetes Care Inc., launched t:slim X2 insulin pump with Control-IQ technology. The system collectively works with Dexcom G6 continuous glucose monitoring (CGM), which helps to deliver automatic correction insulin dose to help prevent fluctuation in blood sugar.
In June 2019, Medtronic and Tidepool entered into a partnership to develop an automated insulin pump system. Medtronic plans to develop a Bluetooth-enabled MiniMed pump that would be compatible with Tidepool Loop which is an open-source, automated insulin delivery app for iPhone and Apple Watch.
In March 2019, Medtronic plc launched MiniMed 670G system. It is the first personalized system, which automatically delivers the insulin dose 24 hours a day, in order to avoid hypoglycaemia and hyperglycaemia. The system consists of SmartGuard Auto Mode and the continuous glucose monitor (CGM) (Guardian Sensor 3).
In October 2018, Medtronic plc received license from Health Canada for the launch of MiniMed 670G system, which stabilizes glucose level 24 hours a day by automatically adjusting the insulin delivery based on patient insulin needs. This system is beneficial for the patients suffering from type-1 diabetes.
Types Covered:
• Tethered Pump
• Patch Pump
Products Covered:
• Omnipod
• My Life Omnipod
• Tandem
• MiniMed
• Accu-Chek
• Other Products
Accessories Covered:
• Insulin reservoir or cartridges
• Insulin set insertion devices
• Battery
Applications Covered:
• Type I Diabetes
• Type II Diabetes
End Users Covered:
• Hospital & Clinics
• Laboratories
• Home Care
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Insulin Pump Market, By Type
5.1 Introduction
5.2 Tethered Pump
5.3 Patch Pump
6 Global Insulin Pump Market, By Product
6.1 Introduction
6.2 Omnipod
6.3 My Life Omnipod
6.4 Tandem
6.5 MiniMed
6.6 Accu-Chek
6.7 Other Products
7 Global Insulin Pump Market, By Accessories
7.1 Introduction
7.2 Insulin reservoir or cartridges
7.3 Insulin set insertion devices
7.4 Battery
8 Global Insulin Pump Market, By Application
8.1 Introduction
8.2 Type I Diabetes
8.3 Type II Diabetes
9 Global Insulin Pump Market, By End User
9.1 Introduction
9.2 Hospital & Clinics
9.3 Laboratories
9.4 Home Care
10 Global Insulin Pump Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 JingasuDelfu Co., Ltd.
12.2 Insulet Corporation
12.3 Sooil Development
12.4 Medtronic
12.5 Valeritas, Inc
12.6 Cellenovo
12.7 Tandem Diabetic Care, Inc.
12.8 Ypsomed
12.9 Hoffmann-La Roche Ltd
12.10 Braun Melsungen Abbott Laboratories
12.11 Dickinson and Company
List of Tables
1 Global Insulin Pump Market Outlook, By Region (2020-2028) ($MN)
2 Global Insulin Pump Market Outlook, By Type (2020-2028) ($MN)
3 Global Insulin Pump Market Outlook, By Tethered Pump (2020-2028) ($MN)
4 Global Insulin Pump Market Outlook, By Patch Pump (2020-2028) ($MN)
5 Global Insulin Pump Market Outlook, By Product (2020-2028) ($MN)
6 Global Insulin Pump Market Outlook, By Omnipod (2020-2028) ($MN)
7 Global Insulin Pump Market Outlook, By My Life Omnipod (2020-2028) ($MN)
8 Global Insulin Pump Market Outlook, By Tandem (2020-2028) ($MN)
9 Global Insulin Pump Market Outlook, By MiniMed (2020-2028) ($MN)
10 Global Insulin Pump Market Outlook, By Accu-Chek (2020-2028) ($MN)
11 Global Insulin Pump Market Outlook, By Other Products (2020-2028) ($MN)
12 Global Insulin Pump Market Outlook, By Accessories (2020-2028) ($MN)
13 Global Insulin Pump Market Outlook, By Insulin reservoir or cartridges (2020-2028) ($MN)
14 Global Insulin Pump Market Outlook, By Insulin set insertion devices (2020-2028) ($MN)
15 Global Insulin Pump Market Outlook, By Battery (2020-2028) ($MN)
16 Global Insulin Pump Market Outlook, By Application (2020-2028) ($MN)
17 Global Insulin Pump Market Outlook, By Type I Diabetes (2020-2028) ($MN)
18 Global Insulin Pump Market Outlook, By Type II Diabetes (2020-2028) ($MN)
19 Global Insulin Pump Market Outlook, By End User (2020-2028) ($MN)
20 Global Insulin Pump Market Outlook, By Hospital & Clinics (2020-2028) ($MN)
21 Global Insulin Pump Market Outlook, By Laboratories (2020-2028) ($MN)
22 Global Insulin Pump Market Outlook, By Home Care (2020-2028) ($MN)
23 North America Insulin Pump Market Outlook, By Country (2020-2028) ($MN)
24 North America Insulin Pump Market Outlook, By Type (2020-2028) ($MN)
25 North America Insulin Pump Market Outlook, By Tethered Pump (2020-2028) ($MN)
26 North America Insulin Pump Market Outlook, By Patch Pump (2020-2028) ($MN)
27 North America Insulin Pump Market Outlook, By Product (2020-2028) ($MN)
28 North America Insulin Pump Market Outlook, By Omnipod (2020-2028) ($MN)
29 North America Insulin Pump Market Outlook, By My Life Omnipod (2020-2028) ($MN)
30 North America Insulin Pump Market Outlook, By Tandem (2020-2028) ($MN)
31 North America Insulin Pump Market Outlook, By MiniMed (2020-2028) ($MN)
32 North America Insulin Pump Market Outlook, By Accu-Chek (2020-2028) ($MN)
33 North America Insulin Pump Market Outlook, By Other Products (2020-2028) ($MN)
34 North America Insulin Pump Market Outlook, By Accessories (2020-2028) ($MN)
35 North America Insulin Pump Market Outlook, By Insulin reservoir or cartridges (2020-2028) ($MN)
36 North America Insulin Pump Market Outlook, By Insulin set insertion devices (2020-2028) ($MN)
37 North America Insulin Pump Market Outlook, By Battery (2020-2028) ($MN)
38 North America Insulin Pump Market Outlook, By Application (2020-2028) ($MN)
39 North America Insulin Pump Market Outlook, By Type I Diabetes (2020-2028) ($MN)
40 North America Insulin Pump Market Outlook, By Type II Diabetes (2020-2028) ($MN)
41 North America Insulin Pump Market Outlook, By End User (2020-2028) ($MN)
42 North America Insulin Pump Market Outlook, By Hospital & Clinics (2020-2028) ($MN)
43 North America Insulin Pump Market Outlook, By Laboratories (2020-2028) ($MN)
44 North America Insulin Pump Market Outlook, By Home Care (2020-2028) ($MN)
45 Europe Insulin Pump Market Outlook, By Country (2020-2028) ($MN)
46 Europe Insulin Pump Market Outlook, By Type (2020-2028) ($MN)
47 Europe Insulin Pump Market Outlook, By Tethered Pump (2020-2028) ($MN)
48 Europe Insulin Pump Market Outlook, By Patch Pump (2020-2028) ($MN)
49 Europe Insulin Pump Market Outlook, By Product (2020-2028) ($MN)
50 Europe Insulin Pump Market Outlook, By Omnipod (2020-2028) ($MN)
51 Europe Insulin Pump Market Outlook, By My Life Omnipod (2020-2028) ($MN)
52 Europe Insulin Pump Market Outlook, By Tandem (2020-2028) ($MN)
53 Europe Insulin Pump Market Outlook, By MiniMed (2020-2028) ($MN)
54 Europe Insulin Pump Market Outlook, By Accu-Chek (2020-2028) ($MN)
55 Europe Insulin Pump Market Outlook, By Other Products (2020-2028) ($MN)
56 Europe Insulin Pump Market Outlook, By Accessories (2020-2028) ($MN)
57 Europe Insulin Pump Market Outlook, By Insulin reservoir or cartridges (2020-2028) ($MN)
58 Europe Insulin Pump Market Outlook, By Insulin set insertion devices (2020-2028) ($MN)
59 Europe Insulin Pump Market Outlook, By Battery (2020-2028) ($MN)
60 Europe Insulin Pump Market Outlook, By Application (2020-2028) ($MN)
61 Europe Insulin Pump Market Outlook, By Type I Diabetes (2020-2028) ($MN)
62 Europe Insulin Pump Market Outlook, By Type II Diabetes (2020-2028) ($MN)
63 Europe Insulin Pump Market Outlook, By End User (2020-2028) ($MN)
64 Europe Insulin Pump Market Outlook, By Hospital & Clinics (2020-2028) ($MN)
65 Europe Insulin Pump Market Outlook, By Laboratories (2020-2028) ($MN)
66 Europe Insulin Pump Market Outlook, By Home Care (2020-2028) ($MN)
67 Asia Pacific Insulin Pump Market Outlook, By Country (2020-2028) ($MN)
68 Asia Pacific Insulin Pump Market Outlook, By Type (2020-2028) ($MN)
69 Asia Pacific Insulin Pump Market Outlook, By Tethered Pump (2020-2028) ($MN)
70 Asia Pacific Insulin Pump Market Outlook, By Patch Pump (2020-2028) ($MN)
71 Asia Pacific Insulin Pump Market Outlook, By Product (2020-2028) ($MN)
72 Asia Pacific Insulin Pump Market Outlook, By Omnipod (2020-2028) ($MN)
73 Asia Pacific Insulin Pump Market Outlook, By My Life Omnipod (2020-2028) ($MN)
74 Asia Pacific Insulin Pump Market Outlook, By Tandem (2020-2028) ($MN)
75 Asia Pacific Insulin Pump Market Outlook, By MiniMed (2020-2028) ($MN)
76 Asia Pacific Insulin Pump Market Outlook, By Accu-Chek (2020-2028) ($MN)
77 Asia Pacific Insulin Pump Market Outlook, By Other Products (2020-2028) ($MN)
78 Asia Pacific Insulin Pump Market Outlook, By Accessories (2020-2028) ($MN)
79 Asia Pacific Insulin Pump Market Outlook, By Insulin reservoir or cartridges (2020-2028) ($MN)
80 Asia Pacific Insulin Pump Market Outlook, By Insulin set insertion devices (2020-2028) ($MN)
81 Asia Pacific Insulin Pump Market Outlook, By Battery (2020-2028) ($MN)
82 Asia Pacific Insulin Pump Market Outlook, By Application (2020-2028) ($MN)
83 Asia Pacific Insulin Pump Market Outlook, By Type I Diabetes (2020-2028) ($MN)
84 Asia Pacific Insulin Pump Market Outlook, By Type II Diabetes (2020-2028) ($MN)
85 Asia Pacific Insulin Pump Market Outlook, By End User (2020-2028) ($MN)
86 Asia Pacific Insulin Pump Market Outlook, By Hospital & Clinics (2020-2028) ($MN)
87 Asia Pacific Insulin Pump Market Outlook, By Laboratories (2020-2028) ($MN)
88 Asia Pacific Insulin Pump Market Outlook, By Home Care (2020-2028) ($MN)
89 South America Insulin Pump Market Outlook, By Country (2020-2028) ($MN)
90 South America Insulin Pump Market Outlook, By Type (2020-2028) ($MN)
91 South America Insulin Pump Market Outlook, By Tethered Pump (2020-2028) ($MN)
92 South America Insulin Pump Market Outlook, By Patch Pump (2020-2028) ($MN)
93 South America Insulin Pump Market Outlook, By Product (2020-2028) ($MN)
94 South America Insulin Pump Market Outlook, By Omnipod (2020-2028) ($MN)
95 South America Insulin Pump Market Outlook, By My Life Omnipod (2020-2028) ($MN)
96 South America Insulin Pump Market Outlook, By Tandem (2020-2028) ($MN)
97 South America Insulin Pump Market Outlook, By MiniMed (2020-2028) ($MN)
98 South America Insulin Pump Market Outlook, By Accu-Chek (2020-2028) ($MN)
99 South America Insulin Pump Market Outlook, By Other Products (2020-2028) ($MN)
100 South America Insulin Pump Market Outlook, By Accessories (2020-2028) ($MN)
101 South America Insulin Pump Market Outlook, By Insulin reservoir or cartridges (2020-2028) ($MN)
102 South America Insulin Pump Market Outlook, By Insulin set insertion devices (2020-2028) ($MN)
103 South America Insulin Pump Market Outlook, By Battery (2020-2028) ($MN)
104 South America Insulin Pump Market Outlook, By Application (2020-2028) ($MN)
105 South America Insulin Pump Market Outlook, By Type I Diabetes (2020-2028) ($MN)
106 South America Insulin Pump Market Outlook, By Type II Diabetes (2020-2028) ($MN)
107 South America Insulin Pump Market Outlook, By End User (2020-2028) ($MN)
108 South America Insulin Pump Market Outlook, By Hospital & Clinics (2020-2028) ($MN)
109 South America Insulin Pump Market Outlook, By Laboratories (2020-2028) ($MN)
110 South America Insulin Pump Market Outlook, By Home Care (2020-2028) ($MN)
111 Middle East & Africa Insulin Pump Market Outlook, By Country (2020-2028) ($MN)
112 Middle East & Africa Insulin Pump Market Outlook, By Type (2020-2028) ($MN)
113 Middle East & Africa Insulin Pump Market Outlook, By Tethered Pump (2020-2028) ($MN)
114 Middle East & Africa Insulin Pump Market Outlook, By Patch Pump (2020-2028) ($MN)
115 Middle East & Africa Insulin Pump Market Outlook, By Product (2020-2028) ($MN)
116 Middle East & Africa Insulin Pump Market Outlook, By Omnipod (2020-2028) ($MN)
117 Middle East & Africa Insulin Pump Market Outlook, By My Life Omnipod (2020-2028) ($MN)
118 Middle East & Africa Insulin Pump Market Outlook, By Tandem (2020-2028) ($MN)
119 Middle East & Africa Insulin Pump Market Outlook, By MiniMed (2020-2028) ($MN)
120 Middle East & Africa Insulin Pump Market Outlook, By Accu-Chek (2020-2028) ($MN)
121 Middle East & Africa Insulin Pump Market Outlook, By Other Products (2020-2028) ($MN)
122 Middle East & Africa Insulin Pump Market Outlook, By Accessories (2020-2028) ($MN)
123 Middle East & Africa Insulin Pump Market Outlook, By Insulin reservoir or cartridges (2020-2028) ($MN)
124 Middle East & Africa Insulin Pump Market Outlook, By Insulin set insertion devices (2020-2028) ($MN)
125 Middle East & Africa Insulin Pump Market Outlook, By Battery (2020-2028) ($MN)
126 Middle East & Africa Insulin Pump Market Outlook, By Application (2020-2028) ($MN)
127 Middle East & Africa Insulin Pump Market Outlook, By Type I Diabetes (2020-2028) ($MN)
128 Middle East & Africa Insulin Pump Market Outlook, By Type II Diabetes (2020-2028) ($MN)
129 Middle East & Africa Insulin Pump Market Outlook, By End User (2020-2028) ($MN)
130 Middle East & Africa Insulin Pump Market Outlook, By Hospital & Clinics (2020-2028) ($MN)
131 Middle East & Africa Insulin Pump Market Outlook, By Laboratories (2020-2028) ($MN)
132 Middle East & Africa Insulin Pump Market Outlook, By Home Care (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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