Insulin Pump Market to Reach USD 15.51 Billion by 2030; Recent Product Approvals and Launch of Innovative Products to Expand Market Size

The global insulin pump market size touched USD 4.60 billion in 2022 and is predicted to reach USD 5.23 billion in 2023. The market is anticipated to touch USD 15.51 billion by 2030, recording a CAGR of 16.2% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Insulin Pump Market Size, Share & COVID-19 Impact 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, 2023-2030”.

Insulin pumps are compact devices that have been designed to supply pre-determined doses of insulin to patients suffering from diabetes. The growing need for portable insulin delivery devices that are equipped with advanced technologies has boosted the sales of these pumps. The cases of type 1 diabetes are increasing at a worrying rate in developed and developing countries. Since these patients are insulin-dependent, the product demand will rise, thereby fueling the insulin pump market growth.

COVID-19 Pandemic Caused Delays in Diagnosis & Treatment of Diabetes Reduced Product Sales

The COVID-19 outbreak had a negative influence on the market growth. Some of the factors that were responsible for this were the delay in the diagnosis & treatment of diabetes and slow adoption of these pumps by patients.

Some of the prominent players in the market witnessed a notable decrease in their revenue margins during this period. For example, Medtronic reported a -1% decline in its revenue from its diabetes segment in 2020. However, the growing incidence of diabetes across the world and the rising treatment and diagnosis rates of diabetes are bolstering the demand for innovative treatment options to manage the ailment.

Launch of Innovative Products and Recent Product Approvals to Expand Market Size

These pumps are finding robust demand in developing countries as the number of people suffering from diabetes is quite high in these nations. It has encouraged market players to increase their focus on R&D and develop technologically advanced products. These R&D projects have undergone several clinical trials, showing sustained enhancement in glycemic control in patients with type 2 diabetes undergoing pump therapy as compared to those on MDI therapy.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/insulin-pump-market-102735

Competitive Landscape

Medtronic to Dominate Market through Strong Product Portfolio of Consumables and Pumps

Companies, such as Medtronic have held a dominant position in the market as they have a vast range of innovative pumps and consumables to manage diabetes effectively. The company is also receiving approvals from regulatory authorities, which is supporting its revenue growth. For instance, in September 2020, Medtronic announced that it had received the U.S. FDA’s approval for its MiniMed 770G hybrid closed loop system, which can access and share real time Continuous Glucose Monitoring (CGM) and pump data.

Notable Industry Development:

• January 2022 - Insulet Corporation announced that it received the U.S. FDA’s clearance for its Omnipod 5 automated insulin delivery system. It is the first tubeless device that has a smartphone control feature, which automates the adjustment of the insulin level.

List of the Companies Profiled in the Report:

• 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)

Further Report Findings

• The Europe insulin pump market share is expected to be primarily driven by the growing prevalence of diabetes. The World Health Organization (WHO) has stated that approximately 60 million people are living with diabetes across Europe, with the disease being responsible for around 3.4 million deaths every year across the region. This scenario is predicted to amplify the demand for insulin pumps and other diabetes management devices in the region.


• The Asia Pacific market is expected to record a robust growth rate over the coming years due to the rising incidence of chronic diseases, such as diabetes. As more people are trying to make drastic changes in their lifestyle, they have become more prone to being diagnosed with these ailments. Another factor that is responsible for the growing incidence of type 2 diabetes across the globe is the expanding geriatric population and large-scale urbanization, leading to the adoption of a sedentary lifestyle.


• The consumables segment is anticipated to expand significantly during the forecast timeline due to the growing penetration of insulin delivery devices in developed and developing countries. This has resulted in a robust demand for consumables. Consumables, such as infusion sets, batteries, and insulin vials have a shorter replacement rate as compared to insulin pumps. These devices are also affordably priced, and are easily available in medical stores. These are some of the factors that have supported the adoption of consumables globally.

Table of Segmentation