Insulin Delivery Devices Market - Global Industry Analysis, Market Size, Share, Trends, Research, Growth and Forecast, 2024 - 2032

The global insulin delivery devices market, valued at USD 13.37 billion in 2022, is expected to witness robust growth with a projected compound annual growth rate (CAGR) of 7.5% during the forecast period. Several key factors, including an aging population, rising prevalence of diabetes, technological advancements, and strategic product launches, are driving this growth.

Growing Diabetes Cases Among Aging Populations and Obesity Epidemic

The aging population is a major factor fueling the demand for insulin delivery devices. With the global elderly population expected to rise significantly by 2030, diabetes cases are also projected to increase. The World Health Organization (WHO) reports that the elderly population (aged 60 and above) is expected to double by 2050, contributing to a higher number of diabetes patients and an increased need for insulin treatments.

Additionally, obesity remains a leading cause of diabetes. According to WHO, more than 1 billion people globally are obese, including 39 million children and 340 million adolescents. These individuals face a higher risk of developing diabetes, which further drives the demand for insulin delivery devices.

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Regional Disparities and Modern Lifestyle Factors Contributing to Diabetes Prevalence

Geographically, North America and the Caribbean have the highest prevalence of diabetes, at 13.3%, followed by the Middle East and North Africa. Factors such as sedentary lifestyles, increased consumption of processed foods, and hereditary traits are contributing to the rising number of diabetes cases globally. Currently, 422 million people suffer from diabetes worldwide, with most cases occurring in low- and middle-income countries. Type 2 diabetes, which has become more prevalent in recent decades, is largely attributed to lifestyle factors and insulin resistance.

Strategic Partnerships and Product Innovations Boosting Market Growth

Key players in the insulin delivery devices market are continuously innovating to meet the diverse needs of diabetic patients. For instance, Terumo India recently launched a new insulin syringe designed to enhance comfort and ease of use, catering specifically to patients who require daily injections. The syringe's advanced design, including a silicone surface and sharp needle, aims to reduce discomfort, while its plunger retention mechanism prevents dose waste.

Another recent innovation comes from the partnership between USV and Biogenomics, which launched India's first biosimilar insulin, "INSUQUICK," in November 2023. This product, available in prefilled pens, vials, and cartridges, provides a range of options for diabetic patients, increasing accessibility and convenience.

Challenges: Affordability and Education Barriers

While the insulin delivery devices market is growing rapidly, certain challenges remain. The high cost of insulin pumps, which can range from USD 4,500 to USD 6,500, and sensor-based continuous glucose monitors (priced between USD 1,000 and USD 1,400), limit accessibility, particularly in low-income regions. The lack of affordable options and insufficient reimbursement policies hinder market growth in developing countries.

Additionally, education and training gaps regarding the proper use of insulin devices pose risks for patients. Errors in dosage and handling can lead to adverse health outcomes, making it essential to increase awareness and training in using advanced insulin devices effectively.

Product Segment Insights: Insulin Pens and Pumps Leading the Market

In 2022, insulin pens dominated the market, thanks to their user-friendly design and portability. These devices offer convenience, particularly for elderly users, and have gained widespread popularity due to their ease of use and cost-saving potential by reducing visits to clinics.

Meanwhile, the insulin pumps segment is expected to register strong growth over the forecast period, driven by their safety, efficiency, and cost-effectiveness. Government support for research and development in insulin pump manufacturing is further boosting the segment's growth.

Homecare Segment Dominates End-Use Market

In terms of end-use, the homecare segment captured the largest market share in 2022. The growing preference for home-based diabetes management, especially among the elderly, is a key driver of demand for homecare insulin delivery devices. The convenience and efficiency of modern insulin devices have made homecare a viable option for many patients, reducing the need for frequent hospital visits.

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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 Updates

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.
Insulin Delivery Devices Market Segmentation 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)

Insulin syringes
Insulin pens
Insulin pumps
Insulin injectors
Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals
Homecare
Others

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Regional Outlook (Revenue, USD Billion; 2019-2032)

North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

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