Insulin Delivery Devices Market

The global insulin delivery devices market is projected to reach USD  46.2 Billion by 2028 from an estimated USD  30.8 Billion in 2023, at a CAGR of 8.5% during the forecast period. 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.

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).

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EMBECTA CORP. (FORMERLY BECTON, DICKINSON AND COMPANY DIABETES CARE BUSINESS) (US)

The company was formed through a spin-off the diabetes care business from Becton, Dickinson and Company (BD) in April 2022. The business offers a strong product portfolio of insulin syringes and pen needles and focuses on developing innovative products in the field of diabetes care through partnerships with leading companies in the healthcare sector. Company’s global manufacturing, distribution networks and commercial team help to produce and distribute products healthcare providers and end users in over 100 countries. It has its manufacturing sites located in US, China and Ireland. Embecta Corp. has partnered with leading companies in the healthcare sector in recent years to develop innovative products in the field of diabetes care. The company emphasizes on growing its presence across the world, which gives it access to more resources for production and better customer service. For instance, the company will partner with Tidepool to develop an automated insulin Delivery (AID) system for the people living with type 2 diabetes in May 2023.

Novo Nordisk A/S (Denmark)

The company operates in two business segment based on therapies namely Diabetes and Obesity care and Rare disease. The company’s Diabetes and Obesity segment has broad product portfolio, which includes different types of insulin, insulin pens and needles, obesity delivery system, GLP-1 analog, glucagon and oral diabetic drugs. The business is present throughout the world, including North America, Europe, Latin America, Africa, the Middle East, and Asia Pacific. NovoPen4, FlexPen, NovoPen 6, NovoFine Plus, FlexTouch, NovoPen Echo Plus are all part of Novo Nordisks product portfolio for insulin delivery devices. The company emphasizes on product launching, innovative products and establishing partnerships and alliances with other market participants in order to maintain its leading position in the market.

Medtronic PLC (Ireland)

In 2022, Medtronic held the third-position in the market for insulin delivery devices. The company is a leading providers of medical devise, medical technology services, and solutions. The company operates in four segments that develop, manufacture, distribute and sell device based medical therapies and services: the cardiovascular portfolio, the medical surgical portfolio, the neuroscience portfolio, and the diabetes operating unit.  The diabetes operating unit develops, manufactures, and markets products and services for type 1 diabetes and type 2 diabetes. The geographic reach of  Medtronic is in North America, Europe, Asia Pacific, and Latin America. To keep up its market dominance, the company mainly focuses on product launches and alliances and collaborations. Minimized 670G, Minimed 630G are egs of the insulin pumps which has gained huge popularity in recent years.

Related Reports:

Insulin Delivery Devices Market by Type (Insulin Pens [Reusable, Disposable], Insulin Pumps (Tethered, Tubeless), Insulin Syringes, Insulin Pen Needles (Standard, Safety)), End User (Hospitals & Clinics, Patients/Homecare) - Global Forecast to 2028

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