Insulin Delivery Devices Market - Trends, Size & Outlook (2024-2032)

Insulin Delivery Devices Market Synopsis: 

Insulin Delivery Devices Market Size Was Valued at USD 19.14 Billion in 2023, and is Projected to Reach USD 34.31 Billion by 2032, Growing at a CAGR of 6.7% From 2024-2032.

The insulin delivery devices market can be defined as the industry that deals with the creation, production and sales of devices used for delivery of insulin to the diabetic patients. These devices have a role in regulating the blood glucose in people who have Type 1 or Type 2 diabetes. Insulin delivery systems are insulin pens, insulin pumps, insulin syringes and insulin jet injectors. An important function of the market here is in addressing the way diabetes patients manage their conditions, especially in as far as administration of insulin is concerned, where convenience, accuracy and control is required to enhance the lives of diabetes patients.

The global insulin delivery devices market is expanding at a higher growth rate due to increased global population that is suffering from diabetes. The statistics of diabetes patient are increasing all over the world and as per the International Diabetes Federation (IDF) more than 500 million peoples are suffering from this disease across the globe. This increase in diabetes cases is also driving the need for newer and improved insulin delivery systems that can operate with higher accuracy, less hassle and greater comfort for the patient. Also, other related technologic progress, including the addition of smart characteristics to insulin pens and pumps, systems for constant glucose monitoring, and developing compact, easy-to-use devices, are stimulating market growth. Changes in the healthcare market regarding shifting towards patient-oriented solutions as well as the growth of demand for individualized treatment also promote the development of this market.

Geographically, the insulin delivery devices market is expected to show substantial growth in the North American region especially in United States as it holds major share of the global market. Strategists say this growth is due to factors such as the well-developed healthcare system in the region, higher per capita income, growing use of technologically advanced products, and a raised awareness regarding diabetes care. But Asia-Pacific, Latin America, and Middle East are expected to provide better growth prospects because of betterment in the healthcare sector, increasing health care spending, and increasing diabetic population.

Insulin Delivery Devices Market Trend Analysis:

Technological Advancements and Digital Integration

• Another factors influencing the development of the insulin delivery devices are technological enhancement of devices through digital health and AI. The days are gone when the diabetes management involves the use of conventional insulin pens and analog insulin pumps; it has been replaced with smart insulin pens and connected insulin pumps, CGM systems. Many of these devices are capable of transmitting data on the levels of blood glucose in a patient and this data is timely and can be accessed by both the patients and the physicians. These devices improve the accuracy of insulin administration because of the personalized insulin dose estimates provided by the collected data. The use of more quantifiable approaches to managing diabetes empowers those living with diabetes to manage it effectively to possibly minimize the effects of hyperglycaemia and hypoglycaemia.

• Thus, other than the real-time glucose monitoring, latest trends of having mobile application support and cloud-based platforms escalating the digitalization of diabetes treatment. People can now keep track of their health data using the aforementioned systems, not merely using insulin dosage, but also practitioner interactions. These AI enhanced devices make it possible to control insulin administration much more flexibly and close to patient needs. Over time advancements in these technologies aim at enhancing the lives of patients with diabetes by lowering the risks of the associated complications in the management of the disease.

Expanding Market Reach in Emerging Economies

• As incidence in diabetes increases across the world the Asia-Pacific, Latin American, and the Middle Eastern emerging markets will offer increased market growth for IDDM insulin delivery devices. This is due to growing prevalence of diabetes alongside the development of the healthcare systems appropriate for integrating new and innovative insulin delivery technologies. Some of the activities being observed include, increased finance being accorded to health departments in these areas, introduction of policies and plans that seek to enhance the management of diabetes and use of contemporary medical devices. Consequently, there is growing need for better devices to maintain or control diabetes than before and from this perspective, better delivery systems of insulin such as control, easy to use and cheaper ones.

• In addition, overall awareness regarding the necessity of proper diabetes management has increased in these regions, while the growing middle-income class is another feature that should lead to the growth of demand for insulin delivery devices in the future. Diabetes patient in these growing markets are more informed and engaged with their health and with acquisition of more resources, propensity for sophisticated individualized management of diabetes will also rise. For players that are able to provide relatively cheap but precise insulin delivery devices that meet these markets’ requirements, the potential share of sales has never been higher for the next few years ahead.

Insulin Delivery Devices Market Segment Analysis:

Insulin Delivery Devices Market is Segmented on the basis of Type, Application, End User, and Region

By Product Type, Insulin pen segment is expected to dominate the market during the forecast period

• The insulin delivery devices entail various product types, which serve different patients depending on their requirements and desires. Insulin pens for diabetics are easily transportable, very precise and popular especially because they are easy to use. They make it easier for patients to inject insulin with less pain and more precision and that makes them popular among patients. Insulin syringe, however, continues to be popular probably due to its cheap nature especially in the developing nations. While they are the oldest type of insulin delivery, syringes are also desensitized and permit for small increment adjustments with a higher suitability for Type 1 diabetic patients.

• Continuous subcutaneous insulin infusion technology, part of the insulin delivery systems, they can be classified as a higher step and are much more beneficial to the user as they offer precise, computer-controlled delivery of insulin based on the user’s blood glucose levels, increasing the overall glucose management and the patient’s quality of life. Insulin jet injectors are those devices that do not use needle to introduce insulin into the body rather they use a high-pressure air to push the insulin through the skin which will be suitable for patients who do not like needles. Furthermore, patches such as insulin patches are now being considered more due to easy and simplicity of use and unnoticeable application. Such devices are available in the form of patches that can either deliver insulin in a basal or bolus manner to allow an individual free movement with out being bothered by the need to monitor the frequency of an injection. All the products represented in this market serve different patient demands by offering options along the continuum that caters to the individual patient’s diabetes disease process.

By Application, Type 1 diabetes segment expected to held the largest share

• In the case of applications for insulin delivery devices, applications are mainly divided by diabetes type, which has different needs and usage. Type 1 diabetes, a disease in which the body produces insulin, is a chronic disease that needs insulin treatment from the time of diagnosis. Consequently, type 1 diabetic patients mostly depend on their insulin delivery devices include pumps and pens in order to maintain a steady and healthy average blood glucose levels. Specifically, the latest insulin pumps are preferred for use by Type 1 diabetes sufferers because of the continuous delivery of insulin in human beings’ natural way of releasing the hormone. CGM when incorporated to these devices also enhances more accurate and timely insulin delivery which is important in Type 1 diabetes.

• Type 2 diabetes, for example, occurs most commonly in people who are insulin resistant and it is often diagnosed later in life although it may take a younger person. Type 2 diabetes patients start with changes in their diets, exercising and taking tablets to control the disease. However, a considerable proportion of the Type 2 patient population may end up needing insulin at some stage of their disease in order to correctly manage their blood sugar levels. Among these, the insulin pens and syringes are preferred most of the time because the devices can be easily incorporated into daily practice of the patients. With increasing understanding of positive effects of early diabetes intervention for managing Type 2 diabetes, the usage of insulin delivery devices should increase further, leading to improved disease prognosis.

Insulin Delivery Devices Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• In 2023 the United States still continues to be the largest consumer of insulin delivery devices, North America is said to occupy the largest share in the annual market sales. The region will be projected to supply more than 40% of the global market share due to the following factors. These are high incidence of diabetes and a developed health system coupled with increased usage of insulin delivery systems by the patients. Given the fact that the numbers of diabetic patients in the population keep increasing and reach millions worldwide, the need for efficient insulin delivery systems is still high. Moreover, there is a significant pool of consumer traffic for health care professionals and patients in North America who are targeting to get sophisticated devices to monitor their health status.

• Led by the robust local production of insulin delivery devices and the concentration of key players in this market, North America is in a commanding position. Firms operating in this region are exceedingly investing in R&D to develop new products that are usually modern technological solutions. Increased popularity of digital health technologies including connected insulin pens and continuous glucose monitoring (CGM) systems is additional influencing the demand for improved insulin delivery systems. Thus, North America will continue to be the largest market, with constant inflows of investment toward improving its value and heightened patient awareness of diabetes and its management in the years to come.

Active Key Players in the Insulin Delivery Devices Market:

• Abbott Laboratories (USA)

• Becton, Dickinson and Company (USA)
• Biocon Ltd. (India)
• Braun Melsungen AG (Germany)
• Dexcom, Inc. (USA)
• Eli Lilly and Company (USA)
• Insulet Corporation (USA)
• Johnson & Johnson (USA)
• Medtronic Plc (Ireland)
• Novo Nordisk A/S (Denmark)
• Omnipod (USA)
• Roche Diagnostics (Switzerland)
• Sanofi S.A. (France)
• Tandem Diabetes Care, Inc. (USA)
• Other Active Players