Patch of Progress: Insulin Patch Pumps Market Overview 2024

The insulin patch pumps market size has grown rapidly in recent years. It will grow from $1.32 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increased diabetes prevalence, patient preference for non-invasive delivery, increased geriatric population, increased safety concerns, miniaturization and improved form factors.

The insulin patch pumps market size is expected to see rapid growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to increasing adoption of telehealth, growth in pediatric diabetes cases, increasing diabetes awareness, environmental and sustainability concerns, rising healthcare initiatives. Major trends in the forecast period include quantum computing design tools, increasing integration of artificial intelligence and machine learning, adoption of digital twin simulations, advancements in custom ic design tools, growth in high-level synthesis tools.

Market Overview -
Insulin patch pumps are small, computerized devices with pre-programmed delivery of insulin dosage to a diabetic patient to conveniently manage their blood sugar. An insulin patch pump is often attached to a strap under the garments, in a pocket, on the waist belt, and with an adhesive patch on the stomach or arm of the patient.

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Rising Diabetes Prevalence Fuels Growth Of Insulin Patch Pumps Market
The rising prevalence of diabetes across the globe is expected to drive the growth of the insulin patch pumps market in the forecast period. Diabetes is a major disease around the world, and it is caused due to many reasons by lifestyle and food habits. Insulin patch pumps help in the convenient delivery of insulin directly into the body and many people with diabetes find insulin pumps to be more convenient than insulin injections. The rising prevalence of diabetes leads to a need for insulin patch pumps. For instance, according to the International Diabetes Federation, in 2021, around 537 million people in the age group between 20 to 79 years are suffering from diabetes and these numbers are estimated to reach 643 million by 2030. In 2021, around 6.7 million people died due to diabetes. Therefore, the rising prevalence of diabetes across the globe will propel the growth of the insulin patch pumps market.

Competitive Landscape -
Major companies operating in the insulin patch pumps market include Cellnovo Group SA, Insulet Corporation, Medtronic PLC, Tandem Diabetes Care Inc., Hoffmann-La-Roche AG, AMF Medical SA, Animus Corp., Abbott Laboratories Inc., Becton Dickinson and Company, Braun Melsungen AG, Cequr SA, Debiotech SA, DexCom Inc., Eoflow Co. Ltd., Embecta Corp., Hospira Inc., Johnson & Johnson Services Inc., LifeScan Inc., Sanofi S.A., Univlabs Technologies Pvt. Ltd., Ypsomed Holding AG, Zealand Pharma A/S, Bigfoot Biomedical Inc., Echo Therapeutics Inc., Glysens Inc., Medella Health Ltd., Roche Diabetes Care GmbH, Valeritas Inc., 3S Corporation, Apex Medical Devices

Integration Of Advanced Technologies Elevates Insulin Patch Pumps Market
Integration of the advanced technologies in insulin patch pumps is the key trend gaining popularity in the insulin patch pumps market. Insulin patch pumps are being integrated with the advanced technologies such as integration with a smartphone and enabling automation in insulin delivery. Continuous glucose monitors and traditional insulin pumps are evolving into smarter devices that can automate insulin delivery. These devices offer convenient and easy-to-use features while reducing manual intervention for insulin delivery. For instance, in January 2022, Insulet Corporation, a US-based innovative medical device company, announced the FDA clearance of its Omnipod 5 automated Insulin delivery system for people with type 1 diabetes aged 6 years and older. It is the first and only tubeless automated insulin delivery system with compatible smartphone control. It makes it easier than ever to manage glucose with no multiple daily injections, no tubes, and zero fingersticks to help simplify life with diabetes.

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Key Segments -

The insulin patch pumps market covered in this report is segmented -

1) By Type: Traditional Insulin Pumps, Smart Insulin Pump, Disposable Insulin Pumps
2) By Mode: Basal, Bolus
3) By Pump Type: Tethered Pump, Patch Pump
4) By Application: Type 1 Diabetes, Type 2 Diabetes
5) By End-User: Hospital, Clicins, Laboratories, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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