Insulin Delivery Devices Market

Insulin Delivery Devices Market size reached USD 12.5 billion in 2021 and is slated to register a healthy CAGR of 7.5% over the forecast period (2022-2029) and is projected to reach USD 22.3 billion in 2029 attributed to growing prevalence of diabetes worldwide.

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Important Insulin Delivery Devices Market Drivers

Global Insulin Delivery Devices Market is primarily driven by increasing prevalence of diabetes around the world, rise in consumer expenditure by customers on healthcare products and favourable device reimbursement and insurance policies. Diabetes is a chronic disease, if not prevented or treated, can cause serious damage to heart, kidney blood vessels, nerves, and eyes. Risk factors for type 1 diabetes are not clear as compared to type 2 diabetes and prediabetes. Type 2 diabetes is majorly seen in people who have prediabetes, overweight, physically inactive or aged 45 years and above. As per the report published by World Health Organization (WHO), almost 422 million people worldwide have diabetes, and majority of these people live in low and middle-income countries. Such trends are creating more demand for insulin delivery devices.

Increasing number of vendors, surge in research and development activities and growing awareness amongst consumers about diabetes control, are some of the additional factors supplementing the market growth. Moreover, manufacturers around the world are emphasizing on bringing technological advancements in the insulin delivery systems to gain a competitive edge over the other leading players. For instance, Novo Nordisk, a multinational pharmaceutical company, launched its first insulin pen, NovoPen Echo in the U.S. market. Developments in human insulin delivery systems and growing awareness amongst consumers about the benefits offered by insulin delivery devices, are some of the additional factors supplementing the market growth. Consumers have become more aware regarding different delivery devices available in the market. Insulin pen provides enhanced efficiency, has a longer lifespan, and offers better dosing accuracy, particularly at low doses.

The drastic change in the lifestyle pattern of the consumers is the major reason for accelerated number of diabetes cases. Patients are preferring syringes and insulin pens over traditional insulin devices as they are highly cost-effective and easily available. However, strict regulations imposed by governments on product approval process and high cost of insulin pins, are restricting the market growth.

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Insulin Pens segment is projected to capture the largest Insulin Delivery Devices Market share.

People with diabetes are preferring to use advanced insulin pens over vial and syringe techniques because these products are easy to use, can deliver highly- accurate doses, discreet, and comes with memory features, which are some of the factors propelling the segment’s growth. In addition, as per the U.S. claims database insulin pen have better adherence and can potentially reduce the financial burden of diabetes over vial & syringe. Increasing focus on manufacturers on developing advanced insulin pens, is driving the segment’s growth.

Home care segment dominated the market in 2021 owing to increasing consumers preference for adopting insulin for adopting insulin delivery devices for home use.

Rising focus of consumers on reducing healthcare expenses related to diabetes management, technological advancements in insulin delivery devices and availability of user-friendly devices, are some of the factors propelling growth of the segment. In addition development of smart insulin is expected to increase the adoption of insulin delivery devices in home care setting. Smart insulin is gaining popularity in the market as it helps users track their daily insulin doses and sends reminders, reports, and alerts.

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According to Insulin Delivery Devices Market Report, North America is forecast to dominate.

North American Insulin Delivery Devices Market is driven by increasing diabetic population across United States and Canada and accessibility to technologically advanced insulin delivery devices to consumers. As per data released by Government of Canada, more than 3 million people in Canada have diagnosed diabetes, after adjusting the geriatric population, prevalence rate in the country is increasing at an average of 3.3% per year. Additionally, increasing expenditure by consumers on healthcare is accelerating the market growth in North American region. According to U.S. Bureau of Labor Statistics, on an average, amount spent by household across United States on healthcare has increased from USD 2,574 in 2004 to USD 4,968 in 2018.

Asia-Pacific Insulin Delivery Devices Market is majorly driven by presence by huge population diagnosed with diabetes. In addition, global vendors are focusing on expanding their business operations in Asia-Pacific and further planning to develop high-end diabetes care products, which is projected to have a positive impact on market growth in Asia-Pacific region.

Top Market Players

Various notable players operating in global insulin delivery devices market include Abbott Laboratories, Ypsomad Holding AG, F. Hoffmann-La Roche Ltd, Terumo Corporation, Insulet Corporation, Medtronic, Animas Corporation, Becton, Dickinson and Company, Dexcom, Inc., Sanofi, among others.

Key Developments:

• • In January 2022, Insulet Corp. announced that the FDA (Food and Drug Administration) cleared the new Omnipod 5 system. This clearance enabled Omnipod 5, to become the first tubeless automated insulin delivery (AID) system in the U.S.
  • In March 2022, Novo Nordisk introduced its smart insulin for NHS patients in UK. Its smart insulin device provides access to patients to monitor and record their daily dosing information. This latest product will improve company’s industrial position in the United Kingdom.
  • In November 2021, Sanofi and Roche partnered to accelerate the adoption of connected add-on for disposable insulin pens.
  • In May 2021, Becton, Dickinson and Company, announced that its board of directors has authorized the management to independently run its Diabetes Care business, to strengthen company’s growth profile.
  • In November 2020, Medtronic introduced the InPen smart insulin pen incorporated with real-time Guardian Connect CGM data, which provides real-time glucose readings and dose related information to its users. This product launch will strengthen company’s position in the Insulin Delivery Devices Market.

Segments covered in the Report:

The global insulin delivery devices market has been segmented on the basis of product type, end user and key regions. Based on product type, the market comprises of Insulin Pens, Insulin Pumps, Pen Needles, Insulin Syringes and Others. The end user segment includes, Patients/Homecare and Hospitals & Clinics.

Report Coverage	Details
Market Revenues (2021)	USD 12.5 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Product Type, By End User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Abbott Laboratories, Ypsomad Holding AG, F. Hoffmann-La Roche Ltd, Terumo Corporation, Insulet Corporation, Medtronic, Animas Corporation, Becton, Dickinson and Company, Dexcom, Inc., Sanofi., among others; a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Insulin Delivery Devices Market by Product Type

• • Insulin Pens
    • Reusable Insulin Pens
    • Disposable Insulin Pens
  • Insulin Pumps
    • External/Tethered Pumps
    • Patch Pumps
  • Pen Needles
    • Standard Pen Needles
    • Safety Pen Needles
  • Insulin Syringes
  • Others

Global Insulin Delivery Devices Market by End User

• • Patients/Homecare
  • Hospitals & Clinics

Global Insulin Delivery Devices Market by Region

• • North America Insulin Delivery Devices Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Insulin Delivery Devices Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Insulin Delivery Devices Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Global Insulin Delivery Devices Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Insulin Delivery Devices (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Abbott Laboratories
  • Ypsomad Holding AG
  • F. Hoffmann-La Roche Ltd
  • Terumo Corporation
  • Insulet Corporation
  • Medtronic
  • Animas Corporation
  • Becton
  • Dickinson and Company
  • Dexcom, Inc.
  • Sanofi