Global Insulin Pump Market size is expected to be about US$ 11.12 Billion by 2032. The CAGR for the global insulin pump market from 2024 to 2032 is 10.23%. The publisher said that it amounted to US$ 4.63 Billion in 2023.Global Insulin Pump Market was US$ 15.43 Billion in 2021
Insulin pumps meet the needs of diabetic people. Modern healthcare deems them necessary because of their essential role. Diabetes control has been transformed because of the use of insulin pumps. They offer specific insulin delivery and flexible blood sugar level management. Current insulin pumps also provide people-friendly interfaces and continuous glucose-tracking abilities. These upgrades enhance the affected person's comfort and treatment efficacy. Their integration with phone apps also permits seamless data tracking and remote monitoring, providing proactive diabetes care and improving patient outcomes.
Global Insulin Pump Market Growth Drivers
Growing Diabetic Population
Over half a billion instances of diabetes have been proven worldwide, and the prevalence is rising. By 2050, there will be 1.3 billion diabetics globally, doubling the current number. Diabetes, one of the top 10 causes of mortality and disability, is thought to affect 529 million people worldwide. In less than three decades, that number, of which 95% are cases of type 2 diabetes, will surpass 1.3 billion, per a report published in the Lancet journal. Diabetic care and glucose levels are improved by diabetic technology, such as insulin pumps and CGM devices. The market for insulin pumps is growing globally as a result of this. Insulin pump users had a lower mean A1C than users of multiple daily injections (MDI) across all years from 2017 to 2021, according to the T1D Exchange Quality Improvement Collaborative (T1DX-QI) initiative. The most recent data from 2021 showed that the mean A1C for insulin pump users was 8.2 ± 1.8%, while the mean A1C for MDI users was 8.4 ± 2%.Increased Awareness regarding the Management of Diabetes
With Type 2 diabetes and other non-communicable diseases (NCDs) becoming a primary worldwide public health concern, the World Economic Forum predicts that global economic development will be severely impacted. The use of insulin pumps has grown over time as awareness has expanded. An insulin pump is a small electronic device. Insulin is administered by a tiny tube inserted beneath the skin. The global insulin pump market is growing due to the rising use of these devices. The NIH study states that insulin pump utilization is expected to rise from 59% in 2017 to 66% in 2021. The device's affordability fuels the global insulin pump market as well. The JAMA Network paper estimated that insulin pumps have been linked to cost savings of between $5000 and $6000 per person yearly and enable more precise insulin administration.Progress in Technology and Breakthroughs
A developing method of delivering insulin is insulin pump therapy, often known as continuous subcutaneous insulin infusion (CSII) therapy. It is successful in preserving euglycemia and giving patients flexibility. The market offers various insulin pump solutions, some integrated with continuous glucose monitoring. Insulin pump technology is still developing quickly. This drives the demand for the worldwide insulin pump market. Pumps that are more discrete and smaller due to component miniaturization offer increased comfort. For example, Valtronic improved the lives of diabetic patients by introducing a smaller, smarter insulin pump in November 2023. This compact insulin pump combines Valtronic's experience producing high-quality, small-sized electrical equipment with its knowledge of insulin delivery systems. It consists of an electronic controller unit that can be used for up to two years and a disposable pump reservoir.Increased Insurance Accessibility
Some health insurance companies give priority to full coverage to people with diabetes. This is driving the worldwide insulin pump market. For example, if a patient has a prescription for an insulin pump and meets specific requirements, Medicare will pay a percentage of the pump's cost. The type of pump required supplies, and Medicare plan will determine the exact coverage. Several features are available through the ICICI Lombard health insurance for type 1 diabetes to assist in managing this long-term illness. For instance, these plans frequently cover insulin pumps, continuous glucose monitoring systems, and other medical equipment that may be necessary for controlling blood sugar levels. They might also pay the cost of insulin, test strips, and other prescription drugs for diabetes. Accessing diabetes education programs, support groups, and counseling services is another benefit of having type 1 diabetes health insurance.United States Insulin Pump Market
The growing occurrence of diabetes, in particular type 1 diabetes, has propelled the increase of the United States insulin pump market. It spurs demand for practical management answers like insulin pumps. The American Diabetes Association stated that 38.4 million Americans, or 11.6% of the population, had diabetes, along with 2 million with type 1 diabetes in 2021. Technological improvements in insulin pump design, like AI integration and continuous glucose tracking compatibility, attract sufferers looking for superior diabetes management alternatives. For instance, Medtronic anticipates FDA approval for its recent pump model, the MiniMed 780g, in 2023. Heightened public recognition and broader insurance coverage for insulin pumps enhance patient access and drive market growth.Global Insulin Pump Company News
Medtronic, Insulet Corporation, Tandem Diabetes Care, Roche, Insulet Corp., Ypsomed Holding AG, and Microtech Medical are critical businesses in the global insulin pump market.- In January 2024 - Abbott and Tandem Diabetes Care, Inc. revealed that the t:slim X2 insulin pump featuring Control-IQ technology is the inaugural automated insulin delivery (AID) system to incorporate the recently launched FreeStyle Libre 2 Plus sensor, Abbott's latest continuous glucose monitoring (CGM) innovation.
- In January 2023 - Tandem Diabetes Care finalized its acquisition of AMF Medical, the maker of the Sigi patch pump for insulin delivery. Despite Tandem's plans to acquire AMF Medical, the Switzerland-based company does not offer Sigi commercially. Notably, the Sigi system received FDA breakthrough device designation over a year ago.
- In February 2023 - Insulet Corporation, known for its Omnipod® brand of products, acquired assets related to Bigfoot Biomedical's pump-based automated insulin delivery (AID) technologies. The acquisition, valued at $25M, includes specific Bigfoot patents associated with pumps suitable for AID therapy.
- In November 2023 - ViCentra B.V., the company behind Kaleido, unveiled a Hybrid closed-loop system for automated insulin delivery in partnership with Diabeloop DBLG1 control software and Dexcom G6 CGM sensor. This advanced system improves users’ Time in Range glucose values by 16.7%.
Types - Market breakup in 3 viewpoints:
1. Tethered Pumps2. Patch Pumps
3. Consumables
Diseases - Market breakup in 2 viewpoints:
1. Type 1 Diabetes2. Type 2 Diabetes
Accessories - Market breakup in 3 viewpoints:
1. Action Figures Insulin Reservoirs2. Infusion Sets
3. Infusion Set Insertion Devices
End-user - Market breakup in 3 viewpoints:
1. Action Figures Hospital and Clinics2. Home Care
3. Others
Countries - Market breakup in 25 viewpoints:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Medtronic2. Insulet Corporation
3. Tandem Diabetes Care
4. Roche
5. Insulet Corp.,
6. Ypsomed Holding AG,
7. Microtech Medical
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Insulin Pump Market7. Product Comparison of Insulin Pumps Worldwide15. Reimbursement Policies
4. Market Dynamics
6. Market Share - Global Insulin Pump Analysis
8. Types - Global Insulin Pump Market
9. Disease - Global Insulin Pump Market
10. Accessories - Global Insulin Pump Market
11. End User - Global Insulin Pump Market
12. Countries - Global Insulin Pump Market
13. Porters Five Forces
14. SWOT Analysis
16. Company Analysis
List of Tables
List of Figures
Companies Mentioned
- Medtronic
- Insulet Corporation
- Tandem Diabetes Care
- Roche
- Insulet Corp.,
- Ypsomed Holding AG,
- Microtech Medical
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 4.63 Billion |
| Forecasted Market Value ( USD | $ 11.12 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
![Global Insulin Delivery Devices Market by Type (Insulin Pens [Reusable, Disposable], Insulin Pumps (Tethered, Tubeless), Insulin Syringes, Insulin Pen Needles (Standard, Safety)), End User (Hospitals & Clinics, Patients/Homecare) - Forecast to 2028 - Product Image](http://www.researchandmarkets.com/product_images/12534/12534941_60px_jpg/global_insulin_delivery_devices_market.jpg)
