Insulin Delivery Devices Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global insulin delivery devices market growth forecasted to transform from USD 30.8 billion in 2023 to USD 46.2 billion by 2028, driven by a CAGR of 8.5%. The demand for better insulin delivery devices has become more important as diabetes prevalence has increased. Additionally, technological developments have made it possible for the market to receive solutions that are incredibly flexible. Other significant drivers of market growth include technological advancements in insulin delivery devices, government support and favourable reimbursement schemes for insulin delivery devices as well as growing prevalences of diabetic population. However, during the forecast period, growth in this market is anticipated to be restricted by aspects like high cost and lack of reimbursement in developing countries.

Insulin Delivery Devices Market Trends

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Insulin Delivery Devices Market Dynamics

Driver: Growing prevalence of diabetic population

Diabetes is one of the most common non-communicable diseases across the globe. According to the World Health Organization, 422 million people worldwide have diabetes, and 1.5 million deaths are directly attributes to diabetes each year. Among the seven IDF regions, North America and Caribbean has the highest prevalence of diabetes (13.3%), followed by the Middle East and North Africa. Moreover, modern lifestyle characterized by reduced physical activities, rapid urbanization associated with changes in dietary patterns, reduced physical activities, increased consumption of processed foods, and genetic factors have contributes to the increased prevalence of diabetes.

Restraint: High cost and lack of reimbursement in developing countries

The cost of insulin delivery devices, such as smartphone connected insulin pumps, is approximately USD 4,500-6500. Moreover the average selling price of sensor-based continuous glucose monitors is USD 1,000- 1,400. Thus, due to high initial cost and the frequent use of associated consumables has put the technology advanced insulin delivery devices out of reach for large portion of users, particularly those n developing countries with an unfavourable reimbursement scenario.

Opportunity: Increasing healthcare expenditure on diabetes care

The increase in global health expenditure due to diabetes has been considerable, growing from USD 232 billion in 2007 to USD 966 billion in 2021 for adults aged 20–79 years. This represents a 316% increase over 15 years. Part of this increase can be attributed to improved data quality. The direct costs of diabetes are expected to continue to grow. The IDF estimates that total diabetes-related health expenditure will reach USD 1.03 trillion by 2030 and USD 1.05 trillion by 2045 (Source: IDF Atlas 2021). The North America and Caribbean region has the highest diabetes-related health expenditure per adult with diabetes (USD 8,209), followed by the Europe region (USD 3,086), South and Central America region (USD 2,190), and WP region (USD 1,204). This figure is USD 465 per person with diabetes in the Middle East and North Africa region, USD 547 in the Africa region, and USD 112 in the Southeast Asia region. Expenditure due to diabetes has a substantial impact on total health expenditure worldwide, representing 11.5% of the total global health spending. Considering the increasing diabetes-related health expenditure in emerging countries, many insulin delivery devices manufacturers are focusing on expanding their business in these markets to capitalize on new opportunities.

Challenge: Needlestick injuries and misuse of injection pens

The lack of proper education and training for the use of new delivery devices such as injection pen leads threatens the safety of the staff and patients. Such practices affects the adoption of injection pens in hospital settings. For instance, the National Reporting and Learning System (NRLS, UK) reported about 56 incidents associated with withdrawing insulin from insulin pens or refill cartridges between January 2013 and June 2019. In addition, the strength of insulin in the injection pen varies; thus, this poses the risk of overdose if the dose strength is not taken into consideration. However, training and education for the proper use of insulin injection pens and government regulations, along with the product development, are likely to overcome the challenge.

Insulin delivery devices market Ecosystem Map

By type, the insulin pen segment is projected to lead the market of the insulin delivery devices industry in 2023.

The large share of this segment of the insulin delivery devices market is primary attributed to improved dosage accuracy and medication adherence, increasing adoption of insulin pens among diabetes patients. Short and fine needles result in less pain for the user, which is also the major factor driving the adoption of these devices. The pen devices are further subsegment into reusable insulin pen and disposable insulin pen. Factors such as fine disposable needles, dose-measuring dial, improved connectivity, accuracy and user experience are driving the insulin pen market. The insulin pumps is projected to lead the market of the market during the forecast period. Developing closed-loop insulin pump, wearable disposable insulin pump, as well as factors like growing use of tubeless patch pump for automated insulin delivery for diabetic care, are the factors contributing the insulin pump market growth.

By end user, the patients/home care is projected to lead the market of the insulin delivery devices industry during the forecast period

By end user, the insulin delivery devices market is broadly segmented into patients/home care and hospitals & clinics. Patients/ home care segment is projected to lead the global market in 2023. The high growth rate of this segment can be attributed to the greater focus on the training patients for effective use of devices for self administration of insulin, growing diabetic population and increasing diabetic healthcare expenditure.

North American region of the insulin delivery devices industry to witness significant growth from 2023 to 2028

On the basis of region, the insulin delivery devices market is divided into North America, Europe, Asia Pacific and Rest of world. In 2023, North America projected to lead market share of the market. Increasing diabetes healthcare expenditure, and the favorable reimbursement in the region are driving the growth of the market in North America.

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The prominent players operating in the global insulin delivery devices market are Embecta Corp. (Formerly Becton, Dickinson and Company Diabetes Care Business (US), Novo Nordisk A/S (Denmark), Medtronic (Ireland), Sanofi (France), Eli Lilly and Company (US), Ypsomed Holding AG (Switzerland), Tandem Diabetes Care (US), Insulet Corporation (US), Biocon Limited (India), Roche Diabetes Care (Switzerland), Owen Mumford (England), Mrdtrum Technologies Inc. (China), Terumo Corporation (Japan), Wockhardt (India), Cerur Corporation (Switzerland), EoFlow CO., Ltd. (South Korea), Hindustan Syringes & Medical Devices Ltd (India), Sooil Developments CO., Ltd (Korea), Sungshim Medical Co., Ltd. (South Korea), Vicentra B.V. (Netherland), Debiotech SA (Switzerland), Jiangsu Delfu Medical Device Co., Ltd (China), Haselmeier (Germany), Mannkind Corporation (US), HTL-Sterfa S.A. (Poland).

Insulin Delivery Devices Market Report Scope

This research study categorizes the global insulin delivery devices market to forecast revenue and analyze trends in each of the following submarkets:

By Type

• Insulin Pens
  • Reusable Insulin Pens
  • Disposable Insulin Pens
• Insulin Pumps
  • Tethered Insulin Pumps
  • Tubeless Insulin Pumps
• Insulin Pen Needles
  • Standard Insulin Pen Needles
  • Safety Insulin Pen Needles
• Insulin Syringes
• Other Insulin Delivery Devices (insulin transdermal patches, insulin inhalers, insulin jet injectors, etc. )

By End User

• Patients/Home Care
• Hospitals & Clinics

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe (RoE)
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of APAC (RoAPAC)
• Rest of World

Recent Developments of Insulin Delivery Devices Market

• In 2023, Embecta Corp. opened a new global headquarters office at 300 Kimball Drive, Suite 300, IN Parsippany, N.J. The site is expected to be home to members of the leadership team, global support functions and North American commercial organization to develop and provide solutions that make life better for people coping with diabetes.
• In 2023, Eli Lilly announced price reductions of 70% for its most prescribed insulins and an expansion of its Insulin Value Program that caps patients out-of-pocket cost at USD 35 or less per month.
• In 2023, Novo Nordisk launched the first smart insulin pens NovoPen 6 and NovoPen Echo Plus available in the UK.
• In 2022, Medtronic entered into a set of definitive agreements to acquire EOFlow Co. Ltd., a manufacturer of the EOPatch device- a tubeless, wearable and fully disposable insulin delivery device.

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