What Fueled The Previous Growth In The Insulin Delivery Devices Market?
The insulin delivery devices market has seen considerable growth due to a variety of factors.
• The insulin delivery devices market has experienced strong growth in recent years. It will rise from $17.71 billion in 2024 to $19.22 billion in 2025, reflecting a CAGR of 8.5%.
The growth can be attributed to the convenience of insulin delivery devices, favorable reimbursement policies, increasing obesity rates, an aging population, and higher adoption of insulin pumps.
How Does the Forecast Look for the Insulin Delivery Devices Market?
The insulin delivery devices market is expected to maintain its strong growth trajectory in upcoming years.
• The insulin delivery devices market is forecast to reach $26.3 billion by 2029 at a CAGR of 8.2%.
Growth is driven by the increasing prevalence of diabetes, healthcare expenditure on diabetes care, adoption of continuous glucose monitoring, and patient awareness of automated delivery benefits. Trends include technological advancements, digital tech integration, artificial pancreas development, and bionic tech advancements.
What Are The Leading Drivers Of Growth In The Insulin Delivery Devices Market?
The increasing prevalence of diabetes is expected to drive the growth of the insulin delivery devices market. Diabetes is rising globally due to factors like sedentary lifestyles, poor diets, and obesity. Insulin delivery devices are essential for managing blood sugar levels and preventing complications. In December 2022, the CDC projected a 700% increase in type 2 diabetes diagnoses among young people in the U.S. by 2060. This growing diabetes incidence is fueling demand for insulin delivery devices.
How Are The Segments Defined Within The Global Insulin Delivery Devices Market?
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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How Are Emerging Trends Reshaping The Dynamics Of The Insulin Delivery Devices Market?
Key players in the insulin delivery devices market are concentrating their efforts on developing innovative products like insulin pumps, which allow for constant or tailor-made insulin delivery. These insulin pumps are technologically advanced, programmable devices that administer insulin consistently or if needed via a catheter inserted under the skin. For example, Beta Bionics, a medical tech firm based in the US, received FDA approval for the iLet ACE Pump and iLet Dosing Decision Software in May 2023. The iLet Bionic Pancreas system, designed for people six years and above diagnosed with type 1 diabetes, pairs two devices with a compatible FDA-cleared built-in continuous glucose monitor (iCGM). This system functions on an automated insulin dosage (AID) model guided by a responsive closed-loop algorithm that only necessitates using the user's bodyweight during setup, effectively nullifying the need for extra insulin dosage guidelines. Distinct from conventional pump therapy, this system doesn't require any manual adjustment to the configuration which simplifies initiation and maintenance. The iLet device further unveils a meal notification feature that facilitates mealtime insulin dosing by classifying meals into small, medium, or large. Consequently, the algorithm learns and adjusts to individual insulin needs over time.
Who Are the Key Players 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
What Is The Most Dominant Region In The Insulin Delivery Devices Market?
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.
