The global Insulin Delivery Devices market was found to be USD 15.51 billion in 2022 and is projected to grow at a CAGR of 9.28% from 2023 to 2028, and it is anticipated to reach USD 26.35 billion by 2028. The increasing prevalence of diabetes in the elderly, favorable reimbursement conditions, heightened awareness of diabetes management and Insulin Delivery Devices, and technological advancements are anticipated to contribute significantly to the growing demand for these devices. Some of the key players in the Global Insulin Delivery Devices Market include Becton, Dickinson and Company, Medtronic, Novo Nordisk A/S, Ypsomed Holding AG, Tandem Diabetes Care, Inc., Biocon Ltd., Eli Lilly and Company, Insulet Corporation, Abbott, Terumo, CeQur, EOFLOW CO., LTD, European Pharma Group BV, Roche, Sanofi, Hindustan Syringes & Medical Devices Ltd, Ocean (Hangzhou) Medical Technology Co Ltd, Owen Mumford, SOOIL Developments Co., Ltd, SUNGSHIM MEDICAL CO., LTD, and others.
DelveInsight’s “Insulin Delivery Devices Market Insight, Competitive Landscape, and Market Forecast 2028” research report provides the current and forecasted Insulin Delivery Devices Market size, share, and trends analysis for the next five years. Moreover, it highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Insulin Delivery Devices Market: Overview
Insulin Delivery Devices play a crucial role in the management of diabetes, a chronic condition characterized by the body’s inability to regulate blood sugar levels properly. These devices, which have evolved significantly over the years, are designed to administer insulin, a hormone necessary for glucose metabolism. One of the primary applications of Insulin Delivery Devices is to provide individuals with diabetes a convenient and effective means of delivering insulin, either through injections or more advanced methods like insulin pumps. Traditional insulin syringes and pens offer precise dosing capabilities, ensuring that patients can administer the right amount of insulin tailored to their specific needs.
On the other hand, insulin pumps deliver a continuous supply of insulin, mimicking the natural secretion of the hormone by the pancreas. This helps in maintaining more stable blood sugar levels, reducing the risk of complications associated with diabetes. The benefits of Insulin Delivery Devices extend beyond convenience and accuracy. They empower individuals with diabetes to better manage their condition, promoting adherence to treatment plans and improving overall quality of life.
Additionally, the development of smart insulin delivery systems with integrated technology, such as continuous glucose monitoring and automated insulin dosing algorithms, represents a significant advancement in diabetes care. These devices enable real-time tracking of blood sugar levels and offer personalized insulin delivery, enhancing precision and minimizing the risk of hypoglycemia. In conclusion, Insulin Delivery Devices have revolutionized diabetes management, providing patients with effective tools to navigate the complexities of this chronic condition while offering a pathway to improved health outcomes.
To provide a better understanding of the market dynamics, DelveInsight’s “Insulin Delivery Devices Market” report provides a detailed assessment by product type (Insulin Syringes, Insulin Pens, Insulin Pumps [Tethered/External Pumps and Patch Pumps], Insulin Injectors, and Others), and End-User (Home care Settings, Diabetes Centers, Hospitals, and Others).
Within the Insulin Delivery Devices product category, insulin pens are expected to dominate the market, surpassing other devices. This can be attributed to the insulin pen’s user-friendly nature and its adaptability to seamlessly integrate insulin injections into the fast-paced lifestyles of individuals, enhancing diabetes management with minimal effort and preserving the overall quality of life for those with diabetes. The segment’s growth is further fueled by factors such as the appealing design of insulin pens, their increasing popularity, and the high adoption rates observed among patients. Additionally, the convenience offered by insulin pens aligns with the growing demand for practical and efficient solutions in diabetes care, underscoring their significance in the expanding landscape of Insulin Delivery Devices.
A pivotal driver contributing significantly to the growth of the worldwide insulin delivery device market is the escalating prevalence of diabetes across diverse populations. Diabetes, characterized as a chronic condition, manifests either when the body is ineffectively utilizing the insulin it produces or when the pancreas fails to generate an adequate amount of insulin. This widespread occurrence of diabetes emphasizes the urgent need for effective insulin delivery devices, as they play a crucial role in helping individuals manage this chronic ailment and maintain optimal health. Moreover, the continuous increase in diabetes cases underscores the sustained demand for innovative and reliable insulin delivery solutions to address the challenges posed by this prevalent and complex health condition.
According to data from the IDF Diabetes Atlas (2022), the global count of adults grappling with diabetes stood at 537 million in 2021. Projections indicate a steady upward trend, with estimates anticipating a surge to 643 million by the year 2030 and a further increase to a staggering 783 million by 2045. These statistics underscore the alarming and escalating prevalence of diabetes worldwide, emphasizing the imperative for ongoing advancements and innovations in healthcare, particularly in the field of diabetes management and insulin delivery solutions. The burgeoning global population of overweight and obese individuals, spanning both adults and children, is expected to be a key driver in propelling the growth of the Insulin Delivery Devices market. This anticipated surge is particularly noteworthy because of the well-established correlation between obesity and an elevated risk of developing diabetes. As the prevalence of overweight and obesity continues to rise worldwide, there is a corresponding escalation in the susceptibility to diabetes, further accentuating the demand for effective and advanced insulin delivery solutions. The nexus between the increasing rates of obesity and the heightened risk of diabetes underscores the crucial role played by insulin delivery devices in addressing the complex healthcare challenges associated with these interconnected global health issues.
The growth trajectory of the Insulin Delivery Devices market may encounter hindrances due to various factors, including the presence of oral insulin alternatives and the substantial costs associated with Insulin Delivery Devices. The availability of oral insulin medications presents an alternative route for diabetes management, potentially diverting demand away from traditional delivery devices. Additionally, the elevated expenses associated with Insulin Delivery Devices could pose a barrier to widespread adoption, especially in regions with economic constraints. As the healthcare landscape evolves, overcoming these challenges necessitates strategic efforts in research and development, cost-effective solutions, and educational initiatives to underscore the unique benefits offered by Insulin Delivery Devices, fostering their acceptance and utilization in diabetes care.
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In the upcoming years, North America is poised to emerge as the leading force in the global Insulin Delivery Devices market. This dominance is attributed to several key factors, including a notable surge in venture capital for the initiation of initial public offerings, favorable reimbursement policies, and the robust healthcare infrastructure prevailing in the region. The influx of venture capital not only propels research and development initiatives but also stimulates innovation, driving the growth of Insulin Delivery Devices in this market.
Moreover, the escalating incidence of diabetes within the US population is poised to contribute substantially to the growth of the Insulin Delivery Devices market in the region. As evidenced by the National Diabetes Statistics Report for the year 2020, a staggering 34.2 million Americans are afflicted with diabetes. The report further highlights a significant upswing in newly diagnosed cases of both type 1 and type 2 diabetes among the youth in the United States. This alarming trend underscores the pressing need for effective and accessible diabetes management solutions, propelling the demand for advanced Insulin Delivery Devices in the US healthcare landscape. As the diabetic population expands, there arises a critical imperative for continuous innovation, research, and development to address the evolving healthcare needs and ensure optimal outcomes for individuals managing diabetes in the United States.
Moreover, the presence of supportive reimbursement policies further facilitates accessibility to these devices, encouraging their adoption among healthcare providers and patients. The well-established healthcare infrastructure in North America plays a pivotal role in ensuring seamless integration and widespread utilization of advanced insulin delivery solutions, solidifying the region’s position as a frontrunner in the global landscape.
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Over the years, the Insulin Delivery Devices Market has evolved significantly, owing to the active participation of the global MedTech companies and technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered in the domain. Some of the major advancements in the Insulin Delivery Devices Market in recent years include –
- On January 9, 2024, Embecta Corp. (“embecta”) (Nasdaq: EMBC), a global diabetes care company with a 100-year legacy in insulin delivery, announced that it has submitted a 510(k) premarket filing to the U.S. Food and Drug Administration (FDA) for a proprietary disposable insulin delivery system.
- On January 8, 2024, Medtronic plc., a global leader in healthcare technology, announced that the MiniMed 780G system with Simplera Sync, a disposable, all-in-one continuous glucose monitor (CGM) needing no fingersticks or overtape, received CE (Conformité Européenne) Mark approval. Simplera Sync is half the size of prior Medtronic sensors and provides a better user experience with a simple, two-step insertion technique.
- On November 25, 2022, Ypsomed, announced that its mylife Loop could now be used with Abbott’s FreeStyle Libre 3 sensor in Germany. Together with the mylife CamAPS FX algorithm from CamDiab, the mylife YpsoPump and FreeStyle Libre 3 form an intelligent and automated insulin delivery system (AID) that is intended to assist people with type 1 diabetes in better managing their blood glucose levels and lessen the burden of ongoing diabetes management.
- On January 28, 2022, Insulet Corporation received FDA approval for its Omnipod® 5 Automated Insulin Delivery System (Omnipod 5). The system is designed for individuals aged six-years and above with type 1 diabetes. It is the first tubeless automated insulin delivery system that is compatible with smartphones and combines with the Dexcom G6 Continuous Glucose Monitoring (CGM) System to automatically adjust insulin and help protect against highs and lows.
- In November 2020, the French company Diabeloop, a pioneer in therapeutic AI, and Terumo Corporation signed an agreement for the joint development with exclusive distribution rights in Japan of an automated insulin delivery (AID) solution. The Diabeloop-developed system will integrate Terumo’s innovative insulin patch pump.
- In 2020, Abbott and Tandem Diabetes Care agreed to develop and commercialize integrated diabetes solutions that combine Abbott’s continuous glucose monitoring (CGM) technology with Tandem’s innovative insulin delivery systems to provide more options for people to manage their diabetes.
- In February 2020, Abbott and Insulet Corporation entered into a partnership agreement to integrate Abbott’s glucose-sensing technology with Insulet’s next-generation tubeless system, the Omnipod Horizon™ Automated Insulin Delivery (AID) System (Omnipod Horizon System), to offer personalized automated insulin delivery and care for people living with diabetes.
- In 2020, Medtronic launched InPen™ integrated with real-time Guardian Connect™ CGM data which is the first and only FDA-cleared smart insulin pen on the market for people on multiple daily injections (MDI).
- In 2020, the US FDA approved the MiniMed 770G System, a hybrid closed-loop diabetes management device that is intended to automatically monitor glucose (sugar) and provide appropriate basal insulin doses with little or no input from the users or their caregivers for use by individuals aged 2 to 6 with type 1 diabetes.
Learn more about major clinical and commercial development in the market @ Insulin Delivery Devices Market – Clinical and Commercial Development Activities
Companies play a pivotal role in the global Insulin Delivery Devices Market, driving innovation, research, and product development to meet the ever-evolving demands of healthcare. On a global scale, prominent players in the Insulin Delivery Devices Market encompass esteemed MedTech giants such as Becton, Dickinson and Company, Medtronic, Novo Nordisk A/S, Ypsomed Holding AG, Tandem Diabetes Care, Inc., Biocon Ltd., Eli Lilly and Company, Insulet Corporation, Abbott, Terumo, CeQur, EOFLOW CO., LTD, European Pharma Group BV, Roche, Sanofi, Hindustan Syringes & Medical Devices Ltd, Ocean (Hangzhou) Medical Technology Co Ltd, Owen Mumford, SOOIL Developments Co., Ltd, SUNGSHIM MEDICAL CO., LTD, and others. These companies are at the forefront of advancing technology and medical solutions, continually striving to enhance the safety and efficacy of Insulin Delivery Devices.
Learn how new players’ entries will transform the market dynamics in the coming years @ Insulin Delivery Devices’s Competitive Landscape
Scope of the Insulin Delivery Devices Market Report:
- Study Period – 2020-2028
- Geography Covered – North America, Europe, Asia-Pacific, and Rest of the World
- Insulin Delivery Devices Market Assessment –
- By Product Type – Insulin Syringes, Insulin Pens, Insulin Pumps (Tethered/External Pumps and Patch Pumps), and Insulin Injectors
- End-User – Homecare Settings, Diabetes Centers, and Hospitals
- Geography – North America, Europe, Asia-Pacific, and Rest of the World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s Views
Table of Content
|Regulatory and Patent Analysis
|Insulin Delivery Devices Market Key Factors Analysis
|Insulin Delivery Devices Porter’s Five Forces Analysis
|COVID-19 Impact Analysis on the Insulin Delivery Devices Market
|Insulin Delivery Devices Market Layout
|Insulin Delivery Devices Global Company Share Analysis – Key 3–5 Companies
|Insulin Delivery Devices Product Profiles and Key Companies
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