The global insulin pump market size was estimated to be USD 9.52 billion in 2023 and is expected to reach at USD 26.4 billion by 2033 with a CAGR of 9.73% during the forecast period 2023-2033. Growing adoption of insulin pumps over traditional methods, rising demand for less invasive procedures, increasing aging population, surge in prevalence of diabetes, growing prevalence of obesity, rising technological developments including artificial pancreas & home infusion therapy, increasing awareness about insulin pumps & diabetes management & care, surge in government initiatives for global awareness about the management of diabetes, growing demand for portable insulin delivery devices, and rising development of technologically advanced insulin pumps by major market players are some of the key factors boosting the market growth.
Rising development of technologically advanced insulin pumps by major market players is predicted to boost the market growth during the forecast period. For instance, in May 2021, F. Hoffman-La Roche Ltd. has introduced mySugr Pump Control as part of their mySugr app, enabling patients to manage insulin pumps directly through their smartphones. With this feature, users can easily import and monitor the status of their data.
By Type, Tethered pumps was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the durability of these traditional pumps, the wide range of components that are readily available, and growing focus on development of technologically advanced products. Additionally, Patch pump is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements and rising initiatives including collaborations by major market players. For instance, in March 2022, GulfDrug LLC, a distributor of pharmaceuticals and medical equipment, has partnered with EOFLOW CO., LTD to oversee the marketing and distribution of EOFlow's wearable insulin pump (EOPatch) throughout the Middle East.
By Product, MiniMed was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the rising adoption of technologically advanced devices and increasing product approvals by regulatory bodies. For instance, in September 2020, Medtronic has revealed that the U.S. FDA has given approval for its MiniMed 770G hybrid closed loop system. This advanced system allows real-time access and sharing of Continuous Glucose Monitoring (CGM) and pump data, providing valuable benefits to young children who have type 1 diabetes. Additionally, Tandem pump is predicted to grow at fastest CAGR during the forecast period owing to the increasing awareness about insulin pumps and growing demand for portable insulin delivery devices.
By Accessories, Insulin set insertion devices was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the rising technological advancements and surge in launch of new devices. Additionally, insulin reservoir or cartridges is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of tethered pumps and increasing collaborations within market players for the development of advanced products. For instance, in January 2023, Tandem Diabetes Care, Inc., has successfully finalized the acquisition of AMF Medical SA, a privately-owned Swiss company known for creating the Sigi Patch Pump. This innovative pump is rechargeable and aims to ease the burden of diabetes management by utilizing pre-filled insulin cartridges.
By End-user, Hospitals & clinics was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the surge in number of skilled healthcare professionals, rising investment by government & private bodies for the development of advanced systems, and increasing technological advancements. Additionally, Homecare is predicted to grow at fastest CAGR during the forecast period owing to the growing awareness about insulin pumps, increasing adoption of advanced devices due to their ease of use, rising usage of patch pumps, and surge in mergers & acquisition with market players. For instance, in June 2020, Sugarmate, Inc. was acquired by Tandem Diabetes Care Inc. with the intention of developing the Sugarmate app, which provides novel visualization of diabetes therapy data to support people with diabetes. This strategic move enabled the company to expand its product portfolio within the market.
North America region is anticipated for the highest revenue share during the forecast period owing to the presence of major market players, rising prevalence of obesity, increasing technological advancements, growing product launches, and surge in product approvals by regulatory bodies. For instance, in February 2022, Tandem Diabetes Care, Inc., made an announcement regarding the clearance from the U.S. Food and Drug Administration (FDA) for bolus insulin dosing on the t:slim X2 insulin pump through the t:connect mobile app. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising healthcare expenditure, increasing government initiatives to spread awareness about diabetes, growing prevalence of diabetes, surge in adoption of new technology and rising launch of innovative products within the region. For instance, in March 2022, India Medtronic Private Limited has introduced the MiniMed 780G system in India, which represents an advanced closed-loop insulin pump system designed to manage type-1 diabetes in individuals aged 7 to 80 years. Utilizing the company's cutting-edge Smart Guard technology, this system automates the delivery of basal insulin and correction boluses every five minutes, providing people with diabetes a smoother experience in avoiding high and low blood glucose levels.
Rising development of technologically advanced insulin pumps by major market players is predicted to boost the market growth during the forecast period. For instance, in May 2021, F. Hoffman-La Roche Ltd. has introduced mySugr Pump Control as part of their mySugr app, enabling patients to manage insulin pumps directly through their smartphones. With this feature, users can easily import and monitor the status of their data.
By Type, Tethered pumps was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the durability of these traditional pumps, the wide range of components that are readily available, and growing focus on development of technologically advanced products. Additionally, Patch pump is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements and rising initiatives including collaborations by major market players. For instance, in March 2022, GulfDrug LLC, a distributor of pharmaceuticals and medical equipment, has partnered with EOFLOW CO., LTD to oversee the marketing and distribution of EOFlow's wearable insulin pump (EOPatch) throughout the Middle East.
By Product, MiniMed was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the rising adoption of technologically advanced devices and increasing product approvals by regulatory bodies. For instance, in September 2020, Medtronic has revealed that the U.S. FDA has given approval for its MiniMed 770G hybrid closed loop system. This advanced system allows real-time access and sharing of Continuous Glucose Monitoring (CGM) and pump data, providing valuable benefits to young children who have type 1 diabetes. Additionally, Tandem pump is predicted to grow at fastest CAGR during the forecast period owing to the increasing awareness about insulin pumps and growing demand for portable insulin delivery devices.
By Accessories, Insulin set insertion devices was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the rising technological advancements and surge in launch of new devices. Additionally, insulin reservoir or cartridges is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of tethered pumps and increasing collaborations within market players for the development of advanced products. For instance, in January 2023, Tandem Diabetes Care, Inc., has successfully finalized the acquisition of AMF Medical SA, a privately-owned Swiss company known for creating the Sigi Patch Pump. This innovative pump is rechargeable and aims to ease the burden of diabetes management by utilizing pre-filled insulin cartridges.
By End-user, Hospitals & clinics was the highest revenue-grossing segment in the global insulin pump market in 2022 owing to the surge in number of skilled healthcare professionals, rising investment by government & private bodies for the development of advanced systems, and increasing technological advancements. Additionally, Homecare is predicted to grow at fastest CAGR during the forecast period owing to the growing awareness about insulin pumps, increasing adoption of advanced devices due to their ease of use, rising usage of patch pumps, and surge in mergers & acquisition with market players. For instance, in June 2020, Sugarmate, Inc. was acquired by Tandem Diabetes Care Inc. with the intention of developing the Sugarmate app, which provides novel visualization of diabetes therapy data to support people with diabetes. This strategic move enabled the company to expand its product portfolio within the market.
North America region is anticipated for the highest revenue share during the forecast period owing to the presence of major market players, rising prevalence of obesity, increasing technological advancements, growing product launches, and surge in product approvals by regulatory bodies. For instance, in February 2022, Tandem Diabetes Care, Inc., made an announcement regarding the clearance from the U.S. Food and Drug Administration (FDA) for bolus insulin dosing on the t:slim X2 insulin pump through the t:connect mobile app. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising healthcare expenditure, increasing government initiatives to spread awareness about diabetes, growing prevalence of diabetes, surge in adoption of new technology and rising launch of innovative products within the region. For instance, in March 2022, India Medtronic Private Limited has introduced the MiniMed 780G system in India, which represents an advanced closed-loop insulin pump system designed to manage type-1 diabetes in individuals aged 7 to 80 years. Utilizing the company's cutting-edge Smart Guard technology, this system automates the delivery of basal insulin and correction boluses every five minutes, providing people with diabetes a smoother experience in avoiding high and low blood glucose levels.
Segmentation: Insulin Pump Market Report 2022 - 2033
Insulin Pump Market Analysis & Forecast by Type 2022 - 2033 (Revenue USD Bn)
- Patch Pumps
- Tethered Pumps
Insulin Pump Market Analysis & Forecast by Product 2022 - 2033 (Revenue USD Bn)
- My Life Omnipod
- Accu-Chek
- Tandem
- MiniMed
- Omnipod
- Others
Insulin Pump Market Analysis & Forecast by Accessories 2022 - 2033 (Revenue USD Bn)
- Battery
- Insulin Set Insertion Devices
- Insulin Reservoir or Cartridges
Insulin Pump Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)
- Homecare
- Laboratories
- Hospitals & Clinics
Insulin Pump Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Insulin Pump Market: Type Estimates & Trend Analysis
8. Insulin Pump Market: Product Estimates & Trend Analysis
9. Insulin Pump Market: Accessories Estimates & Trend Analysis
10. Insulin Pump Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Insulin Pump Market
13. Europe Global Insulin Pump Market
14. Asia Pacific Global Insulin Pump Market
15. Latin America Global Insulin Pump Market
16. MEA Global Insulin Pump Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Tandem Diabetic Care Inc.
- Hoffmann-La Roche Ltd
- Medtronic plc
- Valeritas Inc
- Ypsomed
- Insulet Corporation
- Cellenovo
- JingasuDelfu Co. Ltd.
- Sooil Development
- GulfDrug LLC
- EOFLOW CO. Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 9.52 Billion |
| Forecasted Market Value ( USD | $ 26.4 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
