The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The insulin delivery devices market size has demonstrated strong growth in recent years, expected to grow from $16.38 billion in 2023 to $17.71 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.1%. This growth in the historic period can be attributed to the convenience and ease of use offered by insulin delivery devices, favorable reimbursement policies, an increasing prevalence of obesity, a growing aging population, and a rise in the adoption of insulin pumps. Looking ahead, the market size is projected to reach $24.32 billion in 2028, with a CAGR of 8.3%. The expected growth in the forecast period can be linked to the growing prevalence of the diabetic population, increased healthcare expenditure on diabetes care, the rise of continuous glucose monitoring systems, enhanced patient awareness regarding the benefits of automated insulin delivery devices, and a heightened focus on healthcare. Major trends anticipated include technological advancements in insulin delivery devices, the integration of digital technology, the development of artificial pancreas systems, advancements in insulin administration technology, and innovations in bionic technology.

The growing prevalence of diabetes is projected to drive the growth of the insulin delivery device market in the coming years. Diabetes is characterized by elevated blood sugar levels, which can be caused by insufficient insulin production or the body’s inability to effectively utilize insulin. The rising incidence of diabetes is primarily linked to sedentary lifestyles, unhealthy diets, and increasing obesity rates worldwide. Insulin delivery devices play a critical role in diabetes management by enabling individuals to administer insulin in a controlled and convenient manner, thus preventing complications and promoting better health. For instance, according to the Centers for Disease Control and Prevention in December 2022, the number of young people under 20 with type 2 diabetes in the U.S. could increase by nearly 700% by 2060, potentially reaching 220,000 individuals. Simultaneously, diagnoses of type 1 diabetes among young people could rise by as much as 65% over the same period. Therefore, the growing prevalence of diabetes is driving the growth of the insulin delivery device market through 2023, into 2024, and is anticipated to continue expanding by 2028.

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What Are The Key Trends That Influence Insulin Delivery Devices Market Share Analysis?

Major companies in the insulin delivery device market are focused on developing innovative products, such as insulin pumps, to provide continuous or customizable insulin delivery. Insulin pumps are programmable medical devices that deliver insulin continuously or as required through a catheter placed under the skin. For example, in May 2023, Beta Bionics, a US-based medical technology company, announced FDA approval for the iLet ACE Pump and the iLet Dosing Decision Software. The iLet Bionic Pancreas system is designed for individuals aged six and older with type 1 diabetes, combining two devices with a compatible FDA-cleared integrated continuous glucose monitor (iCGM). It operates using an automated insulin dosing (AID) system driven by an adaptive closed-loop algorithm, which initially requires only the user’s body weight for setup, eliminating the need for additional insulin dosing parameters. Unlike traditional pump therapy, this system does not require manual adjustment of settings, simplifying initiation and management. The iLet device also features a meal announcement capability that streamlines mealtime insulin dosing by categorizing meals as small, medium, or large, while the algorithm learns and adapts to individual insulin needs over time.

Which Market Players Are Driving Growth In The Insulin Delivery Devices Market?

Major companies operating in the insulin delivery devices market are Sanofi SA, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Medtronic Plc, Eli Lilly and Company, Novo Nordisk A/S, Becton, Dickinson and Company, EOFlow Co. Ltd., Insulet Corporation, Tandem Diabetes Care Inc., Ypsomed Holding AG, Xeris Pharmaceuticals Inc., Beta Bionics Inc., Zealand Pharma AS, Bigfoot Biomedical Inc., Emperra GmbH, Animas Corporation, Debiotech SA, CeQur Corporation, Aerami Therapeutics Inc., Alshifa Medical Group, AMF Medical SA, Andain Inc., Avecho Biotechnology Ltd., Apex Medical Devices

How Is The Global Insulin Delivery Devices Market Segmented?

The insulin delivery devices market covered in this report is segmented –

1) By Type: Insulin Syringes, Insulin Jet Injectors, Pen Needles, Reusable Insulin Pens, Disposable Insulin Pens, Insulin Pumps, External Or Tethered Pumps, Patch Pumps
2) By Disease Indication: Type 1, Type 2
3) By Distribution Channels: Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics Or Centres

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The Insulin Delivery Devices Global Market Report 2024 provides an overview of the insulin delivery devicesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The insulin delivery devices market forecast analyzes insulin delivery devices market size, insulin delivery devices market share, leading competitor and their market positions.

The Table Of Content For The Insulin Delivery Devices Market Include

1. Insulin Delivery Devices Market Executive Summary
2. Insulin Delivery Devices Market Segments
3. Insulin Delivery Devices Market Size And Template Market Growth Rate
4.  Key Insulin Delivery Devices Market Trends
5. Major Insulin Delivery Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Insulin Delivery Devices Market
26. Top Insulin Delivery Devices Companies
27. Insulin Delivery Devices Market Opportunities And Strategies
28. Insulin Delivery Devices Market, Conclusions And Recommendations
29. Appendix

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