The insulin delivery devices market is projected to grow at a rate of 9.31% in terms of value, from USD 16.40 Billion in 2023 to reach USD 33.19 billion by 2032. The high demand for insulin delivery devices (such as Syringes, Insulin Pens (disposable and reusable), Inhalers, Jet injectors, Insulin Pumps, Pen Needles) in the global market is attributed to the increasing prevalence of diabetes and are find application in injecting insulin into the bloodstream of the patients.
The factors contributing to the growing number of diabetic patients globally include an increasing number of obese as well as geriatric population, changes in lifestyles, and sufficient/well-established healthcare services. Advancements in technology and favorable government policies have also fueled the growth of this market. Insulin delivery can be obtained through various channels such as retail pharmacy (such as CVS Pharmacy and Walgreens Pharmacy), online pharmacy, and hospital pharmacy, and are easily accessible to diabetic patients.
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A lack of effective insulin plays a key role in the development of diabetes. With the increasing change in lifestyles of the people, there has been a rise in the number of cases of diabetes. This has brought in a huge scope for expansion in the market. Many people with diabetes are prescribed insulin because either their bodies do not produce insulin or the insulin is not properly secreted. Insulin delivery devices are extremely useful for people who have type-I diabetes. There are several types of delivery devices, such as insulin syringe, injectors, and pumps, among others. Furthermore, the insulin that can even be inhaled, and other new approaches to insulin treatment are at different stages of availability and development throughout the world. The market has been growing at a great speed with the increasing cases of diabetes among the people. The rising technological advancements have played a major role in encouraging demand for insulin delivery devices. For instance, the recent approval for interoperable insulin pumps are has been the most recent talk of the market. This has encouraged demand to a very large extent.
However, improper knowledge about the usage of such devices may create hindrances in the growth of the market in the forecast period
Insulin pens contributed to the largest market share in 2030. This can be attributed to their ease of usage and easy accessibility. The pens are expected to grow at a rate of 9.2% in the forecast period. The expected launch of smart insulin pens in the year 2030 has sparked further interest in this market. Insulin pen decreases discomfort in public, prevents the patient from the complicated method of extraction with a syringe from the insulin bottle, and is convenient for people with poor vision.
Technological advancements in the insulin pumps have led to improved reliability and functionality. CSII (continuous subcutaneous insulin infusion) technology has observed several advancements, comprising the incorporation of continuous glucose monitoring (CGM) with the insulin pump. At present, these pumps with the integration of AI are capable of controlling the algorithm that analyzes the blood glucose level and automatically delivers the insulin to the individual using it.
By end-users, the home care settings accounted for the largest market share in 2030. The use of insulin pens at home saves on the hospital or clinic fees, visiting costs, and waiting time. They are highly portable, small in size, and can be used anywhere at any time. Thus, higher user-friendliness and greater access to the device have made insulin users opt for self-care diabetes control options.
The hospitals held the second-largest market share in 2030 and are projected to have a CAGR of 9.0% in the forecast period. Market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare facilities, increasing government funding, and rising private sector investment in the healthcare sector.
North America held the largest market share amounting to more than 50.0% of the share in 2030. This can be attributed to the high prevalence of diabetes in the region. The changes in lifestyle, unhealthy dietary habits, lack of exercise are some of the reasons for a large number of cases of diabetes in the region. This has inevitably sparked high demand for insulin delivery devices in the region.
Asia Pacific is seen to be the fastest-growing region with a CAGR of 10.4% owing to the availability of resources and labor, making it a hub for manufacturers for expansion of the business. In addition to this, the changing lifestyles have also increased the number of diabetics in the region, thus increasing the demand for these devices as well.
- The continuous research and development and the launch of improved delivery devices have been propelling the market. For instance, Tandem Diabetes Care Inc. recently got FDA approval for an interoperable insulin pump. This has been a big boost to the market.
- The changes in the lifestyle of the people, improper dietary habits, and lack of exercise are the major reasons for the increase in the number of cases of diabetes. This has been one of the key driving factors of the market.
- The annual direct healthcare costs of diabetes across the globe, for people in the age group 20–79, are estimated to be as much as USD 286.00 billion. Such a significant increase in the prevalence of diabetes will also propel the demand for insulin, which in turn will positively affect the market growth.
- There has been a growing use of portable instruments such as insulin syringes among patients for convenient management of diabetes, and nearly 40.0% of individuals having diabetes inject insulin through syringes.
- Germany is one country to have a number of high diabetes diagnosed patients. About 6.4 million out of a total of 65.6 million insures were found to have been diagnosed with diabetes in 2009 in Germany.
- The availability of financial assistance facilities and the strong government support and initiatives to make insulin delivery devices and the medication affordable has been a big boost to the market.
- Aging and obesity too play a big role in increasing the number of cases of diabetes. This has too increased the demand for insulin delivery devices.
- The proposed product launches, such as the launch of three patch pumps, smart insulin pens, etc. in 2030, have too attracted demand in the market.
Key participants include Sanofi Diabetes, Nova Nordisk, Omnipod Insulin Management, Eli Lilly and Company, Gerresheimer, Johnson and Johnson, Becton Dickinson, Tandem Diabetes Care Inc., and Medtronic PLC, among others.
The players operating in the market have undertaken a number of strategies related to the market in the period 2023-2030. Some of the key highlights are:
- In September 2030, Medtronic & Novo Nordisk came to an agreement of integrating their digital offerings for the people with diabetes, including the sharing of the data between continuous glucose monitoring devices & smart insulin pens.
- In September 2030, Insulet Corporation, a key market player and a leader in tubeless insulin pump technology with its Omnipod® Insulin Management System, announced the receiving of clearance from the US FDA for an Alternate Controller Enabled Infusion Pump (ACE Pump). This would enable Insulet to market its Omnipod DASH™ Insulin Management System (Omnipod DASH System) as an integrated insulin pump (Omnipod DASH ACE Pump).
The industry offers numerous growth opportunities. Thus, a number of startups providing innovative products and technologies have been entering the market. The Insulin delivery devices market industry poses a significant amount of opportunities for small manufacturers and startups to come up with cost-effective solutions in the manufacturing of Insulin Pens products. Emerging startups such as GoodRx and many others have been profiled in the report with all their innovative techniques and developments. There is a continuous growth in demand from the end-users, which can encourage several startups to launch innovative products in this market.
Mergers and Acquisitions are an integral part of the industry. Along with the companies operating in the market, other key market players have also been entering the industry.
- In June 2023, artificial pancreas developer, Bigfoot Biomedical revealed its acquisition of Patients Pending & its connected insulin pen technology. After this acquisition, Bigfoot claimed to be the first company to continue both insulin infusion and also injection delivery solutions simultaneously.
Reports and Data forecasts promising developments for increased adoption of insulin delivery devices. According to industry experts, the use of devices in the homecare setting is garnering significant traction in the market. New companies entering the industry would emphasize designing and developing innovative products, thereby catering to the increasing requirement of end-users. American Diabetes Association and its guidelines and sponsors have supported the growth of this market. NPH insulin, Lantus (insulin), or Lantus Solostar, Novolin Insulin are some of the most-demanding products that make use of the devices (pens) to insert the dosage into the body.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. The scope of the report can be defined as:
For the purpose of this study, have segmented the insulin delivery devices market on the basis of type, distribution channels, end-use, and region:
Type Outlook (Revenue, USD Million; 2023-2032)
- Insulin Syringe
- Insulin Pens:
- Insulin Jet Injectors
- Insulin Pumps:
- Insulin Needles
- Insulin Inhalers:
- External Insulin
- Implantable Insulin
Distribution Channels Outlook (Revenue, USD Million; 2023-2032)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
End-Use Outlook (Revenue, USD Million; 2023-2032)
- Ambulatory Care Centers
Regional Outlook (Revenue, USD Million; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Saudi Arabia
- Rest of the Middle East and Africa
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