Global Insulin Pumps Market Report and Forecast 2024-2032

Insulin Pumps Market Size

The global insulin pumps market was valued at USD 4.99 billion in 2023, driven by the increased prevalence of obesity, and diabetes across the globe. The market is anticipated to grow at a CAGR of 6.2% during the forecast period 2024-2032 and reach a value of USD 8.58 billion by 2032.

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Insulin Pumps Market Outlook

• The increasing incidence of diabetes among people is contributing to the rising demand for insulin pumps, and insulin delivery systems, propelling market growth.

• The market is witnessing innovative product launches to provide diabetic patients with technologically advanced products to manage their condition and improve patient outcomes.

• The rising healthcare expenditure for diabetes treatment is poised to drive increased demand for diabetes management systems like insulin pumps and propel market value.

Insulin Pumps Market Overview

Insulin is a hormone that is responsible for regulating blood glucose in the human body. Millions of people get affected by diabetes, in which the pancreas has difficulty producing enough insulin in the body. Insulin pumps are usually used to manage blood sugar levels in people who are suffering from diabetes.

The market growth can be attributed to the increasing incidence of diabetes globally. According to the International Diabetes Federation, 537 million people around the world are living with diabetes. The disease was responsible for 6.7 million deaths in 2021. The IDF further highlighted that diabetes caused a whopping USD 966 billion in health expenditure which is 316% more in comparison to the last 15 years.

Other factors boosting the market value include increased product launches and clearances from regulatory authorities like the FDA and EMA to bring advanced solutions to the patients. The emphasis on personalised care and integration of digital solutions into healthcare are amongst major market trends, expected to augment the demand for insulin pumps in the forecast period.

Insulin Pumps Market Growth Drivers

FDA Clearance Supporting Market Expansion

In June 2023, Beta Bionics, Inc., a medical technology company focused on diabetes received the United States FDA 510(k) clearance for Fiasp® Pumpcart® (insulin aspart) prefilled insulin cartridge.  It is a first-of-its-kind automated insulin delivery system that completely automates all the user doses with three choices of insulin including Novolog®, Humalog® and Fiasp® Pumpcart®. The system has been developed to manage diabetes in patients without having to be supervised by a healthcare professional. The market is poised to be driven by product clearances by the FDA that enable effortless diabetes management.

Innovative Product Launches to Meet Rising Insulin Pumps Market Demand

In February 2024, Tandem Diabetes Care, Inc., a leader in insulin delivery and diabetes technology launched its new product Tandem Mobi. It is proposed to be the smallest, durable, automated insulin delivery system for diabetic patients.  The product is a small wearable pump with Control-IQ technology that helps in predicting and preventing high and low blood sugar in patients. The insulin delivery system has several other impressive features poised to gain traction among people, propelling an increase in market demand. The market is expected to be driven by new product launches by key players, bringing innovation to the market and data-driven solutions to the patients.

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Insulin Pumps Market Trends

The market is witnessing several trends and developments to improve the global current scenario. Some of the notable trends are as follows:

Insulin Pumps Market Segmentation

Market Breakup by Product Type

• Insulin Pumps
  • Tethered Pumps
  • Disposable/Patch Insulin Pumps

• Insulin Pump Supplies and Accessories
  • Insulin Reservoirs/Cartridges
  • Infusion Set Insertion Devices

Market Breakup by Indication

• Type I Diabetes

• Type II Diabetes

Market Breakup by Distribution Channel

• Hospital Pharmacy

• Retail Pharmacy

• Online Pharmacy

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Insulin Pumps Market Share

Segmentation by Product Type Leads the Market Share

The market segmentation by product type includes insulin pumps and insulin pump supplies and accessories. Insulin pumps are further divided into tethered pumps and disposable/patch insulin pumps. Additionally, insulin pump supplies and accessories include insulin reservoirs/cartridges, and infusion set insertion devices. The market is expected to be dominated by the insulin pump supplies and accessories segment. The value for this segment is expected to be driven by the rising incidence of patients who require the products regularly.

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Insulin Pumps Market Analysis by Region

Based on region, the market report offers insights into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the leading market due to the presence of global players in the region. The market dominance can be attributed to the factors like the increased prevalence of obesity, cost of treatment, technical innovations as well as product launches are also likely to drive regional growth. In addition, affluent companies are constantly undergoing merger and acquisition activities to boost their market presence and expand their product portfolio.

Leading players in the Insulin Pumps Market

The key features of the market report comprise patent analysis and strategic initiatives by the leading players. The major companies in the market are as follows:

Insulet Corporation

Insulet Corporation is an Acton, Massachusetts-based, American medical equipment manufacturing company focused on developing innovative products for diabetic patients and other conditions with its Omnipod product platform. The Omnipod® Insulin Management System provides a unique alternative to traditional insulin delivery methods.

Medtronic Plc.

Headquartered in Dublin, Ireland, Medtronic is one of the largest medical device companies in the world. Their product portfolio covers various medical domains including cardiac and vascular devices, minimally invasive therapies, restorative therapies, and diabetes.

F. Hoffmann-La Roche AG

Also known as Roche, is a Swiss healthcare company focused on developing pharmaceuticals and diagnostics for the healthcare domain across the globe. Roche has an extensive portfolio dedicated to diabetic care with their Integrated Personalised Diabetes Management (iPDM) solutions. The major products by Roche used for glucose monitoring, insulin delivery, and other solutions to assist diabetic patients include Accu-Chek® and mySugr® brands.

Tandem Diabetes Care, Inc.

It is an American company focused on developing medical devices dedicated to assisting treatment procedures for diabetes specifically insulin infusion therapy. The company designs, develops, and commercialise products for diabetic patients using insulin. The innovative company portfolio includes t:slim X2™ insulin pump which now comes with Dexcom G5® mobile continuous glucose monitoring (CGM) integration. Another product includes t:flex® insulin pump, the first pump designed for people with greater insulin requirements.

 
Ypsomed AG

Based in Burgdorf, Switzerland, the company is a leader in developing and manufacturing infusion systems for self-medication. The company’s portfolio includes insulin pumps, infusion sets, pen needles, blood glucose monitoring systems, and other diabetes supplies.

Other key players in the market include Ascensia Diabetes Care India Private Limited., Wuxi Apex Medical Co. Ltd., JingasuDelfu Co., Ltd., Sooil Development Co., Ltd, Valeritas, Inc., and A. Menarini Diagnostics S.r.l.

Key Highlights of the Report

Key Questions Answered in the Insulin Pumps Market

• What was the global insulin pumps market value in 2023? 
• What is the global insulin pumps market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report? 
• What is market segmentation based on product type? 
• How is the market segmented based on indication? 
• How is the market segmented based on distribution channels? 
• What are the major factors aiding the global insulin pumps market demand?  
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the market's major drivers, opportunities, and restraints?  
• Which regional market is expected to lead the market share in the forecast period?  
• Which country is expected to experience expedited growth during the forecast period?  
• What are the major global insulin pumps market trends?
• Which distribution channel is expected to dominate the market? 
• Which product type will dominate the market share?  
• Who are the key players involved in the global insulin pumps market? 
• What is the patent landscape of the market? 
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?