Insulin delivery devices market Size Worth USD 27.37 Billion in 2032 | Emergen Research

Increasing geriatric population, high prevalence of obesity and diabetes among individuals of different age groups globally and continuous technological advancements by major companies are factors expected to drive insulin delivery devices market revenue growth

Vancouver, Jan. 18, 2024 (GLOBE NEWSWIRE) -- 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. Increasing geriatric population, high prevalence of obesity and diabetes among individuals of different age groups globally, rising importance of regular intake of insulin, changing lifestyle preferences, work life, and continuous technological advancements by major companies are factors expected to drive market revenue growth. In addition, advanced age can be considered as one of the risk factors for prediabetes and diabetes. According to the World Health Organization (WHO), world population will double from 12% to 22% within 2015 to 2050. By 2030, 1 in 6 individuals across the globe are expected to age 60 years or above which could further increase number of diabetic patients, thus is expected to increase demand for insulin delivery devices in the global market.

Moreover, according to WHO, more than 1 billion individuals across the globe are obese among which around 39 million children, 340 million adolescents, and around 650 million adults. All of them have a high chance of diabetes which can be cured by using insulin, thus is expected to increase demand for insulin delivery devices globally. North America and Caribbean have the highest prevalence of diabetes (13.3%), followed by the Middle East and North Africa among the seven International Diabetes Federation (IDF) regions.

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Approximately 422 million individuals globally suffer from diabetes, with the majority residing in countries with low or middle incomes. The medical condition is directly responsible for 1.5 million fatalities annually. Over the past few decades, there has been a steady rise in the number of cases of diabetes. The most prevalent kind, type 2 diabetes, usually affects adults and is brought on by insufficient or resistant insulin production in the body. Type 2 diabetes has been far more common over the last three decades in all countries, regardless of wealth which is expected to drive market revenue growth significantly.

According to the National Reporting and Learning System (NRLS, UK), around 56 incidents associated with withdrawing insulin from insulin pens or refill cartridges between January 2013 and June 2019 have been reported. Moreover, the insulin strength in the injection pen varies, which increases the possibility of an overdose if the dose strength is not considered. Such factors are expected to restrain market revenue growth to some extent.

Segment Insights:

Product Type Insights:

On the basis of product type, the global insulin delivery devices market is segmented into insulin pumps, insulin pens, insulin jet injectors, insulin syringes, and others. The insulin pens segment accounted for largest revenue share in 2022 which is attributable for its potential benefits over different products. These are small high-level devices, profoundly versatile, and can be utilized at any place, whenever required. Factors such as the high reception rate, easy features, and rising prominence among purchasers are contributing to revenue growth of this segment. The utilization of insulin devices at home saves money and time for visiting clinics, or centers. Also, rapid increase in the number of geriatric populations, increasing research & development activities by various organizations are some of the key factors boosting revenue growth of this segment.

End-Use Insights:

On the basis of end-use, the global insulin delivery devices market is segmented into hospitals, homecare, and others. The homecare segment accounted for largest revenue share in 2022. The demand for homecare is growing owing to the factors such as increasing geriatric diabetic population, rising awareness among individuals to take care of diabetes and importance to take insulin regularly which is contributing to revenue growth of this segment. Major companies are focusing towards launching advanced home care instruments as insulin delivery solutions. The treatment process has become easier and less time taking owing to the efficiency of various insulin delivery devices, thus is driving demand for this homecare facilities.

Regional Insights:

Insulin delivery devices market in North America accounted for a relatively larger revenue share than other regional markets in the global insulin delivery devices market in 2022. The market players have generated significant revenue in this region because of its product innovation, advanced medical facilities, growing prevalence of chronic conditions such as obesity leading to diabetes among young population and rising diabetic geriatric population.

Insulin delivery devices market in Europe accounted for the second largest revenue share in 2022. The Europe insulin delivery devices market is set to register consistent development predominantly owing to increasing geriatric population. According to the British Diabetic Association, more than 150,000 patients are diagnosed with diabetes in the Europe and around 14 million individuals in United Kingdom (UK) are at higher risk of type 2 diabetes in 2021. Major companies are investing in their research and development activities and upgrading their existing product portfolio, thus boosting revenue growth of the market in this region.

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Scope of Research

Report DetailsOutcome
Market size in 2022USD 13.37 Billion
CAGR (2022–2032)7.5%
Revenue forecast to 2032USD 27.37 Billion
Base year for estimation2022
Historical data2019-2021
Forecast period2023–2032
Quantitative unitsRevenue in USD Million and CAGR in % from 2023 to 2032
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredProduct Type, End-Use, and Region
Regional scopeNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scopeU.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiledSanofi, Eli Lilly and Company, Biocon, Ypsomed AG, Wockhardt Ltd., F. 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, B. Braun SE.
Customization scope10 hours of free customization and expert consultation

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Major 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.
  • F. 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
  • B. Braun SE

Strategic Development

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

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