The
global Insulin Delivery Devices Market size was estimated at USD 28.06
billion in 2030 and is expected to grow at a CAGR of 7.89% from 2024 to 2030.
Obesity, sedentary lifestyles, and unhealthy food habits, primarily in the
young population, lead to the occurrence of diabetes. In addition, the growing
diabetic geriatric population is another factor supporting the growth of this
vertical. According to the United Nations, Department of Economic and Social
Affairs, around 901 million individuals were aged 60 or over in 2015 and this
number is projected to increase to 1.4 billion by 2030. Thus, the enlarging
elderly population is expected to boost the demand for insulin delivery
devices.
Technological
innovations and advancements are an ongoing trend in this vertical. The high
demand for advanced insulin delivery devices is supporting the adoption of
recently launched innovative pen devices and portable pumps, which is estimated
to boost the market growth. Also, favorable reimbursement policies for these
devices, mainly in developed countries like the U.S. and Germany, are
anticipated to fuel the market growth during the study period. However,
stringent regulatory requirements regulating the approval of insulin delivery
devices and the high cost of insulin analogs in diabetes care management are
major factors restraining the growth of this industry.
The
market's prominent competitors are taking different initiatives such as
acquisition, funding, and product development to expand their product portfolio
and enhance their manufacturing capacity. For instance, in October 2021, Eli
Lilly partnered with Cipla, to market its Insulin products (Humalog and
Trulicity) in India. Additionally, In June 2021, the company acquired Protomer
Technologies, to strengthen its market presence. Further, Novo Nordisk, joined
hands with Biocorp to develop a Bluetooth-enabled smart add-on device for their
pen insulin injector.
List
of Key Players in Insulin Delivery Devices Market
- Novo Nordisk
A/S
- Sanofi
- Eli Lilly and
Company
- Ypsomed AG
- Medtronic
- Insulet
Corporation
- B. Braun SE
- Owen Mumford
Ltd.
- Tandem
Diabetes Care, Inc.
- BD (Becton,
Dickinson, and Company)
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report summary: Insulin Delivery Devices Market Report
Insulin
Delivery Devices Market Report Highlights
- The insulin
pens segment was the largest revenue-generating category of this market in
2021. The pen is equipped with self-contained cartridges and offers ease
in handling and less pain while injecting insulin. The advantages of these
pen devices over other products are resulting in their growing popularity,
thus serving as a vital factor in contributing to the sectorb s highest
share in this market
- The home care
segment is estimated to be the fastest-growing segment due to increased
adoption of self-care diabetes management devices and the availability of
simplified and user-friendly product designs for patients
- North America
is the leading regional sector and accounted for the largest revenue share
in 2021 primarily due to the favorable reimbursement scenario in this
space. Also, the presence of major manufacturers in this region is
supporting market growth
- In Asia
Pacific, the market is anticipated to grow fast during the forecast
period. The high prevalence rate of diabetes in countries, such as China
and India, is a major factor contributing to market expansion in this
region
Insulin Delivery Devices Market
Report Scope
|
Report Attribute |
Details |
|
Market
size value in
2024 |
USD 17.80
billion |
|
Revenue
forecast in 2030 |
USD 28.06
billion |
|
Growth
rate |
CAGR of
7.89% from 2024 to 2030 |
|
Base year
for estimation |
2023 |
|
Actual period |
2018 - 2022 |
|
Forecast period |
2024 - 2030 |
Related
Press Release@ Insulin Delivery Devices Industry Analysis
Insulin
Delivery Devices Market Segmentation
Grand
View Research has segmented the global insulin delivery devices market report
based on product, end use, and region.
Insulin
Delivery Devices Product Outlook (Revenue, USD Million, 2018 - 2030)
- Insulin Pens
- Reusable
Insulin Pens
- Disposable
Insulin Pens
- Insulin Pumps
- Patch Pumps
- Tethered
Pumps
- Insulin Pen
Needles
- Standard Pen
Needles
- Safety Pen
Needles
- Insulin
Syringes
- Other
Products
Insulin
Delivery Devices End Use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
& Clinics
- Homecare
- Other End
Users
Insulin
Delivery Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Latin America
- Brazil
- Argentina
- Middle East
& Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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