Insulin Pump Market Size, Share & Industry Analysis, By Product Type (Pumps [Tethered Pumps, Patch Pumps, and Others] and Consumables), By Disease Indication (Type 1 Diabetes and Type 2 Diabetes), By Distribution Channel (Hospital Pharmacy and Retail & Online Pharmacy), and Regional Forecast, 2024-2032

The global insulin pump market size was valued at USD 5.26 billion in 2023 and is projected to grow from USD 6.08 billion in 2024 to USD 21.65 billion by 2032, exhibiting a CAGR of 17.2% during the forecast period (2024-2032). Insulin pumps are small, computerized devices designed and programmed to deliver pre-determined insulin doses to a diabetic person. The market for these pumps has grown in recent years to cater to the rising demand for portable insulin delivery devices among the diabetic population. A major factor propelling the market’s growth is the increasing prevalence of diabetes, especially type 1 diabetes, worldwide. Moreover, the development of advanced pumps powered by smart technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), by leading medical device manufacturers has also emerged as a vital growth factor for the growth of the market. 

• For instance, in July 2021, Ypsomed AG expanded the range of features of its mylife YpsoPump system. This app-based integration of the Dexcom G6 Continuous Glucose Monitoring (CGM) System enables people with diabetes to continuously manage their treatment via their smartphone.

Improved sugar monitoring and continuous flow of insulin are some of the benefits of insulin pumps over Multiple Daily Injections (MDIs). Additionally, major players are launching technologically advanced products to support the market’s growth. For example, in May 2021, F. Hoffmann-La Roche Ltd. launched mySugr Pump Control under its mySugr app. mySugr Pump Control allows patients to control these pumps directly via their smartphone to import and view the status of the data.

The COVID-19 pandemic slowed the insulin pump market growth. Factors responsible for this included delay in the diagnosis & treatment of diabetes and delay in the purchase of these pumps by patients during this period. Additionally, restrictions imposed by the governments of different countries led to disruptions in the supply of pumps and consumables during the COVID-19 pandemic.

However, the growing prevalence of diabetes globally and the increasing treatment & diagnosis rate of diabetes are creating demand for new treatment options for the management of the disease. The benefits of using these pumps over Multiple Daily Injections (MDIs), insulin pens, and other devices are supporting their adoption in the global market. Thus, the increased demand for these pumps in 2021 helped companies generate more revenues.

Insulin Pump Market Trends

Increasing Adoption of Pumps for Type 2 Diabetes to Augment Market Growth

Approximately 90-95% of the total diabetic population in the world suffers from type 2 diabetes. Additionally, the growing diagnosis and treatment rate of type 2 diabetes has created demand for new treatment options for managing the disease. Also, the increasing insulin-dependence of type 2 diabetes patients and the shift of patients from MDI to pain-free & alternative treatments are boosting the sales of these pumps. Additionally, several benefits offered by insulin pumps include the continuous delivery of medications, improved diabetes control leading to lesser long term diabetes complications, portability, and others. Owing to these, the individuals with type 2 diabetes are shifting toward the use of pumps, leading to higher adoption of these products.

Smart technologies, such as AI, have rapidly penetrated the healthcare IT space and are now making steady headway in diabetes management. Spearheading these trends in medical device companies can actively develop and introduce AI-enabled pumps and other automated drug delivery solutions for type 2 diabetes.

The increasing awareness of these pumps among the type 2 diabetes population has created demand for technologically advanced pumps. For instance, according to MedTech Dive, the global penetration of insulin pumps for type 2 diabetes is around 5%, and this rate is projected to increase by 15% by 2027.

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Insulin Pump Market Growth Factors

Rising Prevalence of Diabetes to Accelerate Market Growth

The prevalence of diabetes is rapidly increasing in developing and developed countries. Several factors are responsible for this including obesity and sedentary lifestyle, among others. It is one of the leading causes of death worldwide.

• According to the IDF Diabetes Atlas, in 2021, approximately 537 million adults aged 20-79 years were living with diabetes. Also, the total number of patients suffering from this ailment is projected to rise to 643 million by 2030 and 783 million by 2045.

The risk of developing diabetes rises along with increasing age. Thus, the rising geriatric population increases the prevalence of age-related disorders such as cataract, glaucoma, hypertension, and diabetes. For instance, according to the Endocrine Society, by 2022, an estimated 33% of adults aged 65 years or above would have diabetes.

Also, the rising number of people suffering from type-1 diabetes globally presents a large pool of patients requiring insulin to manage the disease. The prevalence of type-1 diabetes is more in the high-income countries compared to the low-and-middle income countries. These individuals require a daily administration of insulin. Thus, the growing awareness about these pumps among diabetic patients and the benefits associated with disease management are projected to drive the market growth during the forecast period.

Recent Product Approvals and Launch of Innovative Products to Accelerate Market Growth

Increasing penetration of these pumps among people suffering from diabetes in developing countries is encouraging market players to focus on R&D of technologically advanced products and launch new products in the market. These R&D projects have been accompanied by various clinical trials, showing evidence of sustained improvement in glycemic control in type 2 diabetic patients on pump therapy compared to those on MDI therapy.

• For instance, in February 2024, Tandem Diabetes Care, Inc. introduced Tandem Mobi - a compact and robust automated insulin delivery system in the U.S.


• Similarly, in March 2022, Medtronic introduced a new ‘Advanced Hybrid Closed Loop’ system – the MiniMed 780G. These pumps come with salient features including Bluetooth connectivity, automatic correction boluses, and adjustable glucose target, and are integrated with Guardian Connect CGM technology, which is poised to revolutionize diabetes management.

These pumps offer distinct clinical benefits and are equipped with advanced technologies. These include smartphone connectivity, integrated CGM sensors, and other features for the effective management of diabetes. These advantages are boosting the popularity of these pumps among healthcare professionals and patients suffering from diabetes globally.

Additionally, the strong pipeline of products under development and under review also supports the market growth. Medtronic, Insulet Corporation, Embecta, and others are some of the companies that are aiming to launch innovative products in the near future.

RESTRAINING FACTORS

High Cost of Insulin Pumps to Limit their Adoption

The high cost associated with the therapy is projected to limit the market growth during the forecast period. These modern drug delivery devices have disrupted the traditional healthcare dynamics and revolutionized the healthcare industry. However, the higher costs associated with these devices and supplies makes them less accessible to individuals in low and middle income countries.

• For instance, according to an article published by American Diabetes Association in April 2019, insulin pump therapy costs higher than the MDI therapy (USD 12,928 vs. USD 9,005) for patients suffering from diabetes, with a price difference of approximately 43.5%.

The cost of these pumps involves additional costs of consumables such as sensors and batteries. For instance, the average cost of these pumps in the U.S. is around USD 3,839.6 (OEM price), and the average cost of consumables is around USD 1,067.0 (OEM price). The costs could also vary depending on the brand, pump size, and other parameters. Thus, the high cost of these pumps is limiting their adoption in the market.

Additionally, lack of awareness of the treatment options available for treating diabetes and inadequate reimbursement policies in developing countries are some of the factors responsible for the limited adoption of these pumps in emerging countries.

Also, higher out-of-pocket expenditure associated with these pumps has lowered their adoption among patients.

Insulin Pump Market Segmentation Analysis

By Product Type Analysis

Increasing Adoption of Pumps to Offer Dynamic Segment Growth through 2030

On the basis of product type, the market is segmented into pumps and consumables.

The pumps segment led the market share due to their growing adoption among the diabetic population in developed countries. These products offer several benefits over multiple daily injections, continuous glucose monitors, and other devices. According to the top officials at Tandem, the global pump adoption among patients with type 1 diabetes will increase with penetration in the U.S. and international markets, hitting about 65% and 20% by 2027, respectively.

The consumables segment is expected to grow considerably during the forecast period as the penetration of insulin delivery devices is increasing globally. This has led to an increased demand for consumables. The shorter replacement rate of consumables, such as infusion sets, batteries, and insulin vials as compared to the pumps, relatively lower price, and easy availability are some of the factors supporting the adoption of consumables globally.

By Disease Indication Analysis

High Prevalence of Type 1 Diabetes to Propel Demand of Pumps

On the basis of disease indication, the market is segmented into type 1 diabetes and type 2 diabetes.

The type 1 diabetes segment dominated the insulin pump market share in 2023 due to the growing prevalence of this ailment. For instance, according to the International Diabetes Federation (IDF), in 2021, approximately 1.2 million children and adolescents across the world had type 1 diabetes. Since patients suffering from this disease are insulin-dependent, the need for insulin delivery devices and other consumables is comparatively higher among these patients.

The market share of the type 2 diabetes segment is also predicted to expand steadily throughout the forecast period due to the increasing incidence of this disease worldwide. Additionally, the growing insulin-dependent population suffering from type 2 diabetes and the shift of patients from MDIs to alternative treatment options, such as pumps, will support the market growth.

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By Distribution Channel Analysis

Sales of Pumps and Consumables through Retail & Online Pharmacies to Increase Significantly

On the basis of distribution channel, the market is segmented into retail & online pharmacy and hospital pharmacy. The retail & online pharmacy segment led the market with a significant share owing to the growing availability of diabetes management devices and solutions in retail and online medical stores in developing and developed countries.

The growth of the hospital pharmacy segment is due to the fact that majority of patients prefer purchasing these devices from pharmacies that are affiliated with hospitals. Additionally, the introduction of reimbursement policies for the pumps and consumables will support this segment's growth.

REGIONAL INSIGHTS

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The market in North America was valued at USD 3.04 billion in 2023. The region dominated this industry due to the rollout of favorable reimbursement policies in the U.S. for insulin delivery devices. For instance, Medicare Parts A & B cover tubeless and tubed pumps, respectively, requiring the patient to pay only 20% of the total cost of the pump. In addition, the presence of medical device companies, such as Tandem and Insulet in the region will also help the market grow.

In Europe, the market will be primarily driven by the rising prevalence of diabetes. According to the World Health Organization (WHO), approximately 60 million people are affected by diabetes across Europe, and the disease is responsible for roughly 3.4 million deaths annually in the region. This scenario is likely to surge the demand for these pumps and other diabetes management devices in the region.

The Asia Pacific market is projected to record a robust growth rate due to the rising incidence of chronic diseases, such as diabetes, as more people are trying to make drastic changes in their lifestyle. Another factor responsible for the rising cases of type 2 diabetes globally is the growing geriatric population and increasing urbanization, leading to the adoption of a sedentary lifestyle in the region.

• For instance, according to the Japan Times, the estimated number of people aged 65 years or older in Japan is around 36.4 million, an increase of 220,000 from the previous year.

The demand for advanced insulin delivery devices is increasing. This has encouraged researchers to invest more in R&D for manufacturing smart devices that can provide personalized results to the patients, thereby improving their quality of life.

The market in Latin America is growing due to increasing incidence of diabetes, availability of these pumps & consumables, higher healthcare spending, and rising awareness about diabetes in the region.

The Middle East & Africa market will continue to account for a considerable market share during the forecast period due to extreme changes in people’s lifestyle and the growing occurrence of diabetes. For instance, according to the IDF, in 2021, approximately 28,900 children and adolescents in Saudi Arabia aged between 0-19 years were suffering from type 1 diabetes. Additionally, in Qatar, the incidence rate of type 1 diabetes in children aged 0-14 years is 38.1 per 100,000 people per year.

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List of Key Companies in Insulin Pump Market

Medtronic to Hold Leading Market Position with Strong Portfolio of Pumps and Consumables 

The market has a few key players that hold a major share of the market. Industry leader Medtronic holds a dominating place with a strong portfolio of pumps and consumables for the management of diabetes. Additionally, increasing product approvals by the regulatory authorities support the company's growth. In September 2020, Medtronic announced the U.S. FDA’s approval of its MiniMed 770G hybrid closed loop system. This system accesses and shares real-time Continuous Glucose Monitoring (CGM) and pump data and offers its benefits to younger children living with type 1 diabetes.

The other market players, such as F. Hoffmann-La Roche Ltd, Tandem Diabetes Care, Inc., Insulet Corporation, and Ypsomed AG, have a strong global presence. The increasing approvals for these pumps and strategic decisions taken by these players are supporting their revenue growth. For instance, in June 2020, Tandem Diabetes Care, Inc. acquired Sugarmate, Inc. to develop the Sugarmate app to help people with diabetes visualize diabetes therapy data in innovative ways. This strategy helped the company broaden its product portfolio in the market.

LIST OF KEY COMPANIES PROFILED:

• Medtronic (Ireland)


• Tandem Diabetes Care, Inc. (U.S.)


• Ypsomed AG (Switzerland)


• Insulet Corporation (U.S.)


• F. Hoffmann-La Roche Ltd (Switzerland)


• CeQur Simplicity (Switzerland)


• Microtec Medical Ltd (U.K.)


• ViCentra B.V. (Netherlands)


• SOOIL Developments Co., Ltd (Korea)


• EOFLOW CO., LTD. (Korea)

KEY INDUSTRY DEVELOPMENTS:

• January 2024: PharmaSens, a Switzerland-based medical device company, submitted an application to seek an approval from the U.S. FDA for its new insulin pump. The company received ISO 13485 certification in November 2023.


• September 2023: The U.S. FDA approved Accu-Chek Solo micropump manufactured by Roche Diabetes.


• May 2023: The U.S. FDA provided approval to the iLet Dosing Decision Software and the Beta Bionics iLet ACE Pump for individuals with type 1 diabetes in the age group of six and above.


• February 2023: Insulet Corporation, a global pioneer in tubeless insulin pump technology, announced the acquisition of several assets of Automated Glucose Control (AGC) LLC, a company focused on developing and commercializing automated insulin delivery technology.


• January 2023: Tandem Diabetes Care, Inc. announced the completion of the acquisition of AMF Medical SA, a privately held Swiss developer of the Sigi patch pump. The Sigi patch pump is designed as a rechargeable device that reduces the burden of managing diabetes using pre-filled insulin cartridges.


• March 2022: GulfDrug LLC, a pharmaceutical and medical device distribution company, entered an agreement with EOFLOW CO., LTD. for the sales and distribution of EOFlow’s wearable insulin pump (EOPatch) in the Middle East region.


• February 2022- Tandem Diabetes Care, Inc. received the FDA clearance for its mobile bolus feature that allows t:slim X2 users to control a bolus of insulin through its t:connect mobile app using their smartphone.


• May 2021- F. Hoffmann-La Roche Ltd. launched mySugr Pump Control under mySugr app. mySugr Pump Control allows patients to control insulin pumps directly via smartphone to import and view the status of the data.

REPORT COVERAGE

The global insulin pump market research report provides a detailed market analysis. It focuses on key aspects such as leading companies, disease indication, and distribution channels. Besides this, it offers valuable insights into the latest market trends, and prevalence of diabetes, among other key insights. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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Report Scope & Segmentation