Triton Market Research’s analysis of the Asia-Pacific insulin patch pump market indicates a projected CAGR of 10.94% during the forecast period 2023-2030. The report evaluates the market in Japan, China, Australia & New Zealand, India, South Korea, ASEAN Countries, and Rest of Asia-Pacific.
China accounts for one-fourth of the world’s diabetic population, according to data from the International Diabetes Federation. The demand for diabetes management solutions has thus risen significantly. This is expected to drive the growth of the insulin patch pump market over the projected period.
Australia is positioned to be at the forefront of diabetes management and treatment in the years to come because of the growing adoption of insulin patch pumps and other associated technical advancements. According to the International Diabetes Federation (IDF)’s Diabetes Atlas, Australia spent $5944 on diabetes-related expenses for every person between the ages of 20 and 79 in 2021. The rising healthcare expenditure is expected to drive the insulin patch pump market’s growth in the country over the forecast period.
In 2021, Thailand had a diabetic population of nearly 6.1 million, between the ages of 20 and 79 years, according to the IDF Diabetes Atlas. It further stated that, nearly 19.5 million people in Indonesia were affected by diabetes that year, and this number is estimated to reach 28.6 million in 2045. The rising diabetes prevalence is expected to fuel the adoption of insulin patch pumps. This, in turn, will drive the market’s growth in ASEAN countries over the forecast period.
Competitive Outlook
The renowned firms in the insulin patch pump market are CeQur SA, Debiotech SA, Medtronic Plc, EOFlow Co Ltd, and Tandem Diabetes Care Inc.