As cited by the research report titled ‘Global Implantable Insulin Pump Market Size study, by Type (Closed-Loop Insulin Pump and Open-Loop Insulin Pump), Disease (Type 1 Diabetes and Type 2 Diabetes), and End User (Hospitals and Home Care) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global implanted insulin pump market is projected to grow with a strong CAGR to garner significant returns over 2021-2027.
 

Rising prevalence of chronic illnesses like obesity & heart disease coupled with increasing awareness regarding various insulin therapies are the major factors driving global implanted insulin pump market growth. Technological advancements in the product and growing demand for home-based therapies for diabetes management & consultation are further favoring the industry outlook.
 

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For the record, an implanted insulin pump is a medical device that is permanently implanted into the human body. This insulin pump delivers insulin to the peritoneal cavity, which has a larger number of blood vessels and can better absorb insulin. Insulin pumps that are implanted in the body provide better treatment options for diabetics.
 

Growing elderly population, favorable reimbursement policies in the healthcare system, and increasing research and development efforts for developing innovative implanted insulin pump technologies are adding traction to the overall market size.
 

Speaking of the negatives, government regulations can act as a bottleneck for the market progression over the projected timeline.
 

Based on type, global implantable insulin pump industry space is segmented into open-loop insulin pump and closed-loop insulin pump. Speaking of disease, the marketplace is categorized into type 1 diabetes and type 2 diabetes. Considering the end user range, the business space is divided into home care and hospitals.
 

The geographical analysis of the industry includes regions like Asia Pacific, Europe, North America, and Latin America. Asia Pacific market is likely to generate considerable revenues during 2021-2027, on account of rising initiatives, increasing government investments for research & development of implantable insulin pumps, and growing number of product approvals.
 

Rising demand for advanced healthcare facilities and increasing efforts by the major players to expand their geographical reach are further contributing to the regional market growth.
 

Prominent players profiled in the worldwide implantable insulin pump industry space are Tandem Diabete Care Inc., SOOIL Development Co. Ltd., Medtronic plc, Johnson & Johnson, Insulet Corporation, F. Hoffmann-La Roche AG, Diamesco Co. Ltd., Diabeloop, CVS Health (Aetna Inc.), and Apex Medical Corp.