Insulin Delivery Devices Market Analysis, Growth, Size, Trends And Forecast 2030
Insulin Delivery Devices Industry Overview
The global insulin delivery devices market size was estimated at USD 16.43 billion in 2023 and is expected to grow at a CAGR of 7.89% from 2024 to 2030. The surge in market growth is largely attributed to the rising global prevalence of diabetes, which has heightened the demand for advanced and user-friendly solutions for diabetes management. Technological advancements play a crucial role in the market growth, with the development of devices that are more effective, less invasive, and tailored to meet patients' individual needs.
Furthermore, integrating digital technology with insulin delivery devices is expected to boost market growth. This includes the rise of Continuous Glucose Monitoring (CGM) systems that work in tandem with insulin delivery devices to provide real-time glucose monitoring and automated insulin adjustments.
Gather more insights about the market drivers, restrains and growth of the Insulin Delivery Devices Market
Technological advancements in diabetes management have significantly transformed insulin delivery methods, evolving from traditional injections to more advanced, minimally invasive techniques. Initially, insulin administration faced challenges in maintaining consistent blood glucose levels. However, the advent of insulin pens facilitated easier self-administration, reducing discomfort. The development of insulin pumps allowed for continuous insulin infusion, enhancing glucose control. A pivotal advancement was the introduction of Continuous Glucose Monitoring (CGM) devices, providing real-time glucose data, essential for informed decision-making.
This set the stage for Artificial Pancreas Systems (APS), which integrate CGM data with insulin pumps for automated delivery, closely mimicking natural pancreatic function. Bionic technology, blending biological and artificial processes, has been instrumental in advancing insulin delivery. It underpins devices such as APS, utilizing algorithms, sensors, and automated pumps for precise blood sugar regulation, minimizing manual intervention. These innovations offer tailored, user-friendly solutions, notably improving patient outcomes. Modern insulin pumps, equipped with CGM integration, predictive algorithms, and smartphone connectivity, exemplify significant progress in device functionality, offering accurate and adaptable insulin management. These features not only mitigate risks associated with blood glucose extremes but also empower users with finer control over their insulin dosing, responding dynamically to glucose level changes.
The evolution towards bionic insulin delivery systems underscores a shift towards automation, precision, and enhanced safety in diabetes management. By significantly reducing the incidence of hypoglycemia and enabling stable glucose control, these devices contribute to improved health outcomes and quality of life for individuals with diabetes. The continuous innovation in bionic technology and its integration into diabetes care is poised to catalyze growth in the insulin delivery devices industry. The emphasis on accuracy, adaptability, and user-friendliness in device design, coupled with the potential for automated, personalized diabetes management, signals a promising future for market expansion.
Furthermore, the insulin delivery devices industry is witnessing a shift towards wearable devices, such as insulin pumps and insulin patch pumps, which offer continuous insulin infusion in a convenient and discreet manner. For instance, In January 2024, PharmaSens, a Switzerland-based company specializing in medical devices, has recently applied for FDA approval in the United States for its 'niia essential' insulin patch pump system. This application represents a pivotal step for PharmaSens in the evolution of insulin pump technologies. Furthermore, the company achieved ISO 13485 certification in November 2023, encompassing the design, development, manufacturing, and distribution of insulin infusion pumps and their accessories. PharmaSens has positioned its product as focused on patient needs and ease of use. Furthermore, In January 2024, Embecta Corp. declared that it had submitted a 510(k) premarket application to the U.S. Food and Drug Administration (FDA) for its unique disposable insulin delivery system.
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- The global insulin pump market size was estimated at USD 6.05 billion in 2023 and is projected to grow at a CAGR of 8.22% from 2024 to 2030.
- The global syringes market size was valued at USD 13.5 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of8.5% from 2019 to 2026.
Insulin Delivery Devices Market Segmentation
Grand View Research has segmented the global insulin delivery devices market report based on product, end use, and region.
Insulin Delivery Devices Product Outlook (Revenue, USD Million, 2018 - 2030)
Insulin Pens
- Reusable Insulin Pens
- Disposable Insulin Pens
Insulin Pumps
- Patch Pumps
- Tethered Pumps
Insulin Pen Needles
- Standard Pen Needles
- Safety Pen Needles
Insulin Syringes
Other Products
Insulin Delivery Devices End Use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals & Clinics
- Homecare
- Other End Users
Insulin Delivery Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
- US
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
Latin America
- Brazil
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Key Companies profiled:
- Novo Nordisk A/S
- Sanofi
- Eli Lilly and Company
- Ypsomed AG
- Medtronic
- Insulet Corporation
- Braun SE
- Owen Mumford Ltd.
- Tandem Diabetes Care, Inc.
- BD (Becton, Dickinson, and Company)
Key Insulin Delivery Devices Company Insights
The insulin delivery devices market is a dynamic and rapidly evolving segment within the medical device industry, primarily driven by the increasing prevalence of diabetes globally. This market includes a range of devices designed to administer insulin to diabetic patients, aiming to maintain their blood glucose levels. As diabetes management shifts towards more patient-friendly, efficient, and less invasive methods, the demand for innovative insulin delivery devices has surged. The insulin delivery devices market is highly competitive, with companies continuously innovating and expanding their product lines to meet the diverse needs of diabetes patients. Market share is influenced by factors such as product innovation, ease of use, accessibility, and insurance coverage. Major players such as Novo Nordisk, Sanofi, and Eli Lilly dominate the market due to their extensive product ranges, global presence, and strong brand recognition.
Recent Developments
- In August 2023, Novo Nordisk A/S and Inversago Pharma have reached an agreement wherein Novo Nordisk will acquire Inversago for a sum that could reach up to 1.075 billion US dollars in cash, contingent upon the fulfillment of specific development and commercial benchmarks. Based in Montreal, Inversago Pharma is a privately held company specializing in the development of therapies targeting the CB1 receptor aimed at potentially treating obesity, diabetes, and related metabolic disorder complications.
“The acquisition of Inversago Pharma will further strengthen our clinical development pipeline in obesity and related disorders.”
-Martin Holst Lange, executive vice president for Development at Novo Nordisk.
- In March 2023, Diabeloop, a forefront company in Automated Insulin Delivery technology, announced a partnership with the renowned healthcare giant, Novo Nordisk. This collaboration focuses on the integration of Diabeloop's advanced self-learning algorithm, DBL-4pen, specifically designed for Multiple Daily Injections (MDI) therapy, with Novo Nordisk's innovative, connected, and reusable insulin pens, namely NovoPen 6 and NovoPen Echo Plus. To assess the effectiveness and clinical advantages of this integrated solution, Diabeloop is gearing up to conduct a specialized study aimed at individuals diagnosed with Type 2 diabetes.
- Sanofi announced a significant reduction in the list price for its widely used insulin product, Lantus (insulin glargine injection) 100 Units/mL, in the U.S., slashing it by 78%. In addition, the company introduced a cap of $35 on out-of-pocket expenses for all commercially insured patients needing Lantus, highlighting its ongoing dedication to making medications more affordable. These actions, effective from January 1, 2024, build upon earlier measures from June 2022 aimed at reducing the cost of diabetes medications. These included releasing a non-branded version of Lantus at 60% below its list price and implementing a $35 maximum on the out-of-pocket costs for insulin for individuals without insurance. Thanks to these comprehensive efforts, Sanofi has ensured that patients will not spend over $35 for a month's supply of Lantus. In a further step, Sanofi also announced a 70% reduction in the list price of its short-acting insulin, Apidra (insulin glulisine injection) 100 Units/mL.
- In November 2022, Novo Nordisk and Abbott announced their partnership aiming enhanced data integration capabilities for individuals with diabetes. This development leverages smart technology by making Novo Nordisk's connected insulin pens, specifically the NovoPen 6 and NovoPen Echo Plus, compatible with the Abbott FreeStyle LibreLink application. This compatibility facilitates a centralized view of insulin dosage and glucose levels, streamlining patient monitoring and management. Users can effortlessly sync their insulin dosing information by simply tapping their pen on a smartphone, enabling a cohesive display of insulin and glucose data. This integration aims to aid patients in analyzing how insulin dosage adjustments and timing influence their glucose trends, thereby optimizing diabetes management.
“People living with diabetes can make up to 180 additional health-related decisions a day compared to people without diabetes - the constant multi-tasking can be emotionally and physically draining. I hope that bringing glucose and insulin data together in one place will make some of these decisions a little easier, giving people living with diabetes in the UK more time and energy back for day-to-day life.”
-Pinder Sahota, general manager at Novo Nordisk UK.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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