Discover trends, market shifts, and competitive outlooks for the insulin delivery devices industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

What is the Anticipated CAGR of the Insulin Delivery Devices Market, and What Factors Will Drive It?

In recent years, there has been substantial growth in the insulin delivery devices market. It is projected to expand from $17.71 billion in 2024 to $19.22 billion in 2025, witnessing a compound annual growth rate (CAGR) of 8.5%. Factors such as the convenience and simplicity of insulin delivery devices, advantageous reimbursement policies, the increasing occurrence of obesity, the rise in the elderly population, and the growing acceptance of insulin pumps, have all contributed to the growth in the historical period.

The market size for insulin delivery devices is projected to experience robust expansion in the forthcoming years. With a compound annual growth rate (CAGR) of 8.2%, it’s expected to reach $26.3 billion by 2029. This acceleration in the predicted period is linked to the increasing prevalence of diabetes, escalating healthcare expenditure on diabetes management, the advent of continuous glucose monitoring systems, increasing patient awareness about the advantages of automated insulin delivery devices and an enhanced focus on healthcare. Noteworthy developments anticipated within this forecast period encompass advancements in insulin delivery device technology, the incorporation of digital technology with insulin delivery devices, progress in the creation of artificial pancreas systems, advancements in insulin administration techniques, and progress in bionic technology.

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Which Major Market Drivers Are Expected to Boost the Growth Potential of the Insulin Delivery Devices Market?

The insulin delivery devices market is predicted to expand due to the increasing incidence of diabetes. Diabetes, a persistent ailment characterized by elevated blood glucose levels, arises from insufficient insulin production in the pancreas or the body’s failure to use insulin effectively. The rise in diabetes rates is mainly attributed to inactive lifestyles, unhealthy eating habits, and escalating obesity rates worldwide. Insulin delivery devices aid in the effective management of blood glucose levels in diabetics by providing a controlled and hassle-free insulin administration. This helps stave off complications and fosters better health. The Centers for Disease Control and Prevention, an American government agency, reported in December 2022 that the count of young people under 20 with type 2 diabetes in the United States could surge nearly 700% by 2060, possibly touching 220,000 individuals. Meanwhile, diagnoses of type 1 diabetes among young people could see a potential increase of up to 65% over the same timeframe. Hence, the increasing occurrence of diabetes is fueling the growth of the insulin delivery devices market.

Which Segments in the Insulin Delivery Devices Offer the Most Growth?

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 Centers

Subsegments:

1) By Insulin Syringes: Standard Insulin Syringes, Insulin Syringes With Fixed Or Adjustable Needle Length

2) By Insulin Jet Injectors: Needle-Free Insulin Jet Injectors, High-Pressure Insulin Jet Injectors

3) By Pen Needles: Short Pen Needles, Long Pen Needles

4) By Reusable Insulin Pens: Reusable Pens With Replaceable Cartridges, Refillable Insulin Pens

5) By Disposable Insulin Pens: Single-Use Disposable Insulin Pens, Pre-Filled Disposable Insulin Pens

6) By Insulin Pumps: Traditional Insulin Pumps, Smart Insulin Pumps

7) By External Or Tethered Pumps: Traditional External Insulin Pumps, Wireless Tethered Pumps

8) By Patch Pumps: Patch Insulin Pumps, Integrated Patch Pumps

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Which Areas Are Leading Regions in the Insulin Delivery Devices Market Expansion Across the Globe?

North America was the largest region in the insulin delivery devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insulin delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Key Market Trends and Innovations Are Shaping the Future of the Insulin Delivery Devices Industry?

Key players in the insulin delivery devices market are focusing on the design and production of innovative tools like insulin pumps, aimed at offering continuous or tailor-made insulin delivery. Insulin pumps are medical devices equipped with programming abilities, which dispense insulin either continuously or on-demand through a catheter situated beneath the skin. An example of this was seen in May 2023, when US-based medical tech firm, Beta Bionics, secured approval from the U.S. Food and Drug Administration for the iLet ACE Pump and the iLet Dosing Decision Software. Specifically designed for those six years old or above suffering from type 1 diabetes, the iLet Bionic Pancreas system fuses two gadgets compatible with an FDA-approved integrated continuous glucose monitor (iCGM). The system employs an automated insulin dosing (AID) system, governed by an adaptive closed-loop algorithm. This system uses the user’s body weight as the initial setup input and discards the necessity for extra insulin dosing parameters. Setting it apart from traditional pump therapy, it doesn’t need manual adjustment making it more user-friendly to start and monitor. Additionally, the iLet device introduces a user-friendly feature where meals are categorized as small, medium, or large. This simplifies insulin dosing at meal times and the algorithm is capable of learning and adjusting to individual insulin needs over time.

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What Are the Key Elements That Define the Insulin Delivery Devices Market?

Insulin delivery devices refer to medical tools designed to administer insulin into the body of a person with diabetes. These devices are crucial for managing blood glucose levels in individuals who cannot produce sufficient insulin naturally. These devices are used to manage blood sugar levels effectively, providing flexibility and convenience in insulin administration.

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