Insulin Delivery Devices Market Size Worth USD 27.37 Billion in 2032 | Emergen Research

The global insulin delivery devices market size was USD 13.37 billion in 2022 and is expected to register a revenue CAGR of 7.5% during the forecast period. The global insulin delivery devices market is poised for substantial growth in the coming years, driven by a multitude of factors including the increasing geriatric population, rising prevalence of obesity and diabetes, and continuous technological advancements by major companies. These insights are drawn from a recent market research report that highlights key drivers, challenges, and segment insights shaping the market landscape.

Key Drivers Fueling Market Growth:

1. Aging Population and Rising Diabetes Prevalence: With the world's population aging rapidly, the prevalence of diabetes is expected to increase significantly. By 2030, it is projected that 1 in 6 individuals worldwide will be aged 60 years or above, further fueling the demand for insulin delivery devices.

2. Obesity Epidemic and Diabetes Connection: The global obesity epidemic, coupled with lifestyle changes, has led to a surge in diabetes cases. Individuals affected by obesity are at a higher risk of developing diabetes, thereby driving the demand for insulin delivery devices.

3. Technological Advancements: Continuous investments in research and development have led to the development of advanced insulin delivery devices, enhancing patient comfort and convenience. These technological advancements are expected to drive market growth.

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Strategic Partnerships and Product Launches:

Major players in the market are focusing on strategic partnerships, acquisitions, and product launches to cater to the diverse needs of diabetic patients. For instance, Terumo India recently launched an insulin syringe with enhanced features aimed at improving patient experience and adherence to treatment.

Market Restraints:

Despite the optimistic outlook, affordability and accessibility barriers pose challenges to market growth. The high cost of sophisticated insulin delivery systems, coupled with inadequate reimbursement scenarios in developing countries, hinders market expansion. Moreover, lack of proper education and training regarding the use of these devices among healthcare professionals and patients is limiting their adoption.

Segment Insights:

• Insulin Pens Dominance: Insulin pens emerged as the dominant segment in the market, owing to their ease of use and high adoption rates among patients. The convenience of administering insulin at home has contributed to the popularity of insulin pens.

• Robust Growth for Insulin Pumps: The insulin pumps segment is expected to witness robust growth during the forecast period, driven by factors such as safety, efficiency, and cost-effectiveness. Government support for research and development further boosts market growth.

• Homecare Segment Dominance: The homecare segment accounted for the largest market share, fueled by increasing awareness among individuals about diabetes management and the importance of regular insulin intake. Major companies are focusing on launching advanced homecare instruments to cater to this growing demand.

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Insulin Delivery Devices Top Companies and Competitive Landscape

The global insulin delivery devices market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective insulin delivery devices solutions.

Some major players included in the global insulin delivery devices market report are:

• Sanofi
• Eli Lilly and Company
• Biocon
• Ypsomed AG
• Wockhardt Ltd.
• Hoffmann-La Roche Ltd.
• Medtronic
• Beta Bionics
• Cellnovo Group
• Nemera
• Aerami Therapeutics Holdings, Inc.
• Debiotech SA
• Tandem Diabetes Care, Inc.
• Johnson & Johnson Services, Inc.
• Diabeloop SA
• Abbott
• BD
• Novo Nordisk A/S
• Braun SE

Insulin Delivery Devices Latest Industry News

• On 17 December 2021, Eli Lilly and Company fostered a biosimilar variant of insulin glargine, Rezvoglar KwikPen, that received Food and Drug Administration (FDA) approval.

• On 08 November 2021, Sanofi announced collaboration with Roche, to build the connected add-on for the
dispensable insulin pens for upgrading their existing product portfolio. For physicians and retail pharmacists, this partnership is also aimed at working for the development of the scientific program.

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Insulin Delivery Devices Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global insulin delivery devices market on the basis of product type, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o Insulin syringes
o Insulin pens
o Insulin pumps
o Insulin injectors
o Others
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals
o Homecare
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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