Insulin Pump Market

Analysis from GMI Research finds that the Insulin Pump Market earned revenues of USD 4.7 billion in 2022 and estimated to touch USD 9.7 billion in 2030 will grow at a CAGR of 9.5% from 2023-2030

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Major Insulin Pump Market Drivers

The growth in the insulin pump market is driven by the rising incidences of obesity and diabetes. Insulin pumps help individuals suffering from type 1 and type 2 diabetes by offering them flexibility in food options and eating schedules. For example, according to the data by the International Diabetes Federation, nearly 552 million people are projected to have diabetes by the end of 2030. In accordance with the World Health Organization, diabetes is a major cause of blindness, stroke, and kidney failure. The changing lifestyle of the consumers, shifting consumption pattern, and unhealthy food habits of the people is surging the cases of diabetes among the global population. Furthermore, other factors which include increasing per capita expenditure on healthcare services and rising research and development to improve the functioning of insulin pumps have propelled the market size. Moreover, the growing emphasis of companies to develop technology in order to provide better compliance with IT devices, which is projected to compel the market. Technological innovations, which include artificial pancreas and home infusion therapy are likely to propel the market share. As per the Insulin Pump Market analysis, growing awareness about insulin pumps and their use across the developing and developed nations will bolster the market growth. Additionally, increasing product approvals and strategic developmental strategies like distribution agreements, partnerships, and collaborations adopted by the leading players will open avenues for the market. However, the high cost associated with the maintenance of insulin pumps is the major factor which is likely to hamper the global insulin pump market size.

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Treatment Segment Analysis

The type 1 diabetes is anticipated to lead the insulin pumps market over the upcoming years, owing to the rising incidences of type 1 diabetes globally. As per the International Diabetes Federation (IDF), in 2021, nearly 1.2 million children and adolescents suffer type 1 diabetes. The patients with type 1 diabetes need insulin, which has augmented the need for insulin pump and other consumables, driving the insulin pump market share.

Type – Segment Analysis

Patch insulin pumps is expected to witness a higher CAGR in the global insulin pump market over the forecast period, owing to their smaller size and ability to be attached to the surface of patient’s skin. Furthermore, the use of calculators helps in govern the actual dosage of insulin needed by patients in order to avoid overdose, which will boost the segment’s growth.

End User – Segment Analysis

Hospitals are estimated to lead the insulin pumps market during forecast period, owing to the availability of the trained professionals and rising number of hospitals. Furthermore, the rising government allowances and increasing investment by private sector in the healthcare sector, will boost the market growth. Additionally, the increasing reimbursement policies for the pumps & consumables will expand the market growth. The homecare end-user industry is predicted to hold a larger share during the forecast period. The increasing adoption of insulin pumps, owing to their user-friendly nature.

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Regional – Segment Analysis:

North America is predicted to lead the market over the upcoming years, because of the existence of leading players in insulin pumps. Moreover, the rising incidences of diabetes, increasing treatment costs, technological innovations, and product launch are also projected to drive the regional growth. According to NCBI, the yearly death rate of diabetes is anticipated to be 54% by the end of 2030 from 2015. Moreover, favorable remuneration policies in the U.S. for these pumps, will offer enormous opportunities to the market. For instance, Medicare Parts A & B cover tubeless and tubed pumps, respectively, requiring the patient to pay only 20% of the cost of the pump.

The strategic government initiatives to spread awareness about diabetes across the Asia Pacific region is forecast to pave the way for market. The increasing demand for state of art insulin delivery devices has encouraged researchers to invest more in Research & Development for manufacturing smart devices that will offer customized results to the patients, driving the regional growth. Another factor contributing to the market growth is the accelerating geriatric population and rapid urbanization, which has increased the prevalence of type 2 diabetes, thus, raising the need for insulin pumps, propelling the regional growth. For instance, as per the Japan Times, the approximate number of people above 65 or older in Japan is around 36.4 million, increasing 220,000 from the previous year.

Top Market Players

Various notable players operating in the market, include, Medtronic, Abbott, F. Hoffmann-La Roche Ltd, Insulet Corporation, Tandem Diabetes Care, Inc., Insulet Corporation, Ypsomed, SOOIL Developments Co., Ltd, delfu-medical.com, Medtrum Technologies, among others. 

Key Developments:

• • In 2022, Insulet Corporation, a leading tubeless insulin pump devices and technology company, decided to invest approximately USD 200 million in its coming manufacturing facility in Johor over the approaching five years. This would offer the company’s Omnipod Insulin Management System as part of its ambition to expand its worldwide manufacturing capabilities
  • In 2022, Ypsomed decided to collaborate with Abbott and CamDiab to launch an incorporated AID (automated insulin delivery) system. The new integrated AID system is designed to incorporate Abbott’s FreeStyle Libre 3 with Ypsomed’s MyLife YpsoPump to develop a smart, and an automatic procedure for delivering insulin with realistic glucose data
  • In 2022, Diabeloop, a global leader in therapeutic AI, and SOOIL Development Company, a leader in diabetes therapy entered into an agreement for worldwide development at the American Diabetes Association Scientific Sessions. The partnership is projected to help clinical trials to expand their cooperation and provide access to their goods to as many patients as possible through new innovative products
  • In 2022- Tandem Diabetes Care, Inc. received the FDA clearance for its mobile bolus feature that allows t:slim X2 users to control a bolus of insulin through its t:connect mobile app using their personal smartphone.
  • In 2021- F. Hoffmann-La Roche Ltd. launched mySugr Pump Control under mySugr app. mySugr Pump Control allows patients to control insulin pump directly via smartphone to import and view the status of the data.
  • In 2020, Insulte Corporation announced the expansion of the product offering, omnipod DASH for insulin management and thereby expanding its product portfolio.

Segments covered in the Report:

The global insulin pump market has been segmented based on treatment, type, end user and regions. Based on treatment, the market is segmented into type 1 diabetes and type 2 diabetes. Based on type, the market is segmented into traditional insulin pumps, patch insulin pumps and hybrid closed-loop pumps. Based on end user the market is segmented into hospitals, clinics, home care labs, laboratories, and others. 

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Report Coverage	Details
Market Revenues (2022)	USD 4.7 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Treatment, By Type, By End User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Medtronic, Abbott, F. Hoffmann-La Roche Ltd, Insulet Corporation, Tandem Diabetes Care, Inc., Insulet Corporation, Ypsomed, SOOIL Developments Co., Ltd, delfu-medical.com, Medtrum Technologies, among others; a total of 10 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 Pump Market by Treatment

• • Type 1 Diabetes
  • Type 2 Diabetes

Global Insulin Pump Market by Type

• • Traditional Insulin Pumps
  • Patch Insulin Pumps
  • Hybrid Closed-Loop Pumps

Global Insulin Pump Market by End User

• • Hospitals
  • Clinics
  • Home Care Labs
  • Laboratories
  • Others

Global Insulin Pump Market by Region

• • North America Insulin Pump Market (Option 1: As a part of the free 25% customization)

    • By Treatment
    • By Type
    • By End User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Insulin Pump Market (Option 2: As a part of the free 25% customization)

    • By Treatment
    • By 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 Pump Market (Option 3: As a part of the free 25% customization)

    • By Treatment
    • By Type
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Insulin Pump Market (Option 4: As a part of the free 25% customization)

    • By Treatment
    • By 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 in the Insulin Pump (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Medtronic
  • Abbott
  • Hoffmann-La Roche Ltd.
  • Insulet Corporation
  • Tandem Diabetes Care, Inc
  • Insulet Corporation
  • Ypsomed
  • SOOIL Developments Co., Ltd.
  • delfu-medical.com
  • Medtrum Technologies