PUBLISHER: Renub Research | PRODUCT CODE: 1484134
PUBLISHER: Renub Research | PRODUCT CODE: 1484134
Insulin Pump Market Report by Types, Diseases, Accessories, End-user Countries and Company Analysis 2024-2032
Global Insulin Pump Market size is expected to be about US$ 11.12 Billion by 2032. The CAGR for the global insulin pump market from 2024 to 2032 is 10.23%. Renub Research said that it amounted to US$ 4.63 Billion in 2023.
Insulin pumps meet the needs of diabetic people. Modern healthcare deems them necessary because of their essential role. Diabetes control has been transformed because of the use of insulin pumps. They offer specific insulin delivery and flexible blood sugar level management. Current insulin pumps also provide people-friendly interfaces and continuous glucose-tracking abilities. These upgrades enhance the affected person's comfort and treatment efficacy. Their integration with phone apps also permits seamless data tracking and remote monitoring, providing proactive diabetes care and improving patient outcomes.
Global Insulin Pump Market Growth Drivers
- Growing Diabetic Population
Over half a billion instances of diabetes have been proven worldwide, and the prevalence is rising. By 2050, there will be 1.3 billion diabetics globally, doubling the current number. Diabetes, one of the top 10 causes of mortality and disability, is thought to affect 529 million people worldwide. In less than three decades, that number, of which 95% are cases of type 2 diabetes, will surpass 1.3 billion, per a report published in the Lancet journal. Diabetic care and glucose levels are improved by diabetic technology, such as insulin pumps and CGM devices. The market for insulin pumps is growing globally as a result of this. Insulin pump users had a lower mean A1C than users of multiple daily injections (MDI) across all years from 2017 to 2021, according to the T1D Exchange Quality Improvement Collaborative (T1DX-QI) initiative. The most recent data from 2021 showed that the mean A1C for insulin pump users was 8.2 +- 1.8%, while the mean A1C for MDI users was 8.4 +- 2%.
- Increased Awareness regarding the Management of Diabetes
With Type 2 diabetes and other non-communicable diseases (NCDs) becoming a primary worldwide public health concern, the World Economic Forum predicts that global economic development will be severely impacted. The use of insulin pumps has grown over time as awareness has expanded. An insulin pump is a small electronic device. Insulin is administered by a tiny tube inserted beneath the skin. The global insulin pump market is growing due to the rising use of these devices. The NIH study states that insulin pump utilization is expected to rise from 59% in 2017 to 66% in 2021. The device's affordability fuels the global insulin pump market as well. The JAMA Network paper estimated that insulin pumps have been linked to cost savings of between $5000 and $6000 per person yearly and enable more precise insulin administration.
- Progress in Technology and Breakthroughs
A developing method of delivering insulin is insulin pump therapy, often known as continuous subcutaneous insulin infusion (CSII) therapy. It is successful in preserving euglycemia and giving patients flexibility. The market offers various insulin pump solutions, some integrated with continuous glucose monitoring. Insulin pump technology is still developing quickly. This drives the demand for the worldwide insulin pump market. Pumps that are more discrete and smaller due to component miniaturization offer increased comfort. For example, Valtronic improved the lives of diabetic patients by introducing a smaller, smarter insulin pump in November 2023. This compact insulin pump combines Valtronic's experience producing high-quality, small-sized electrical equipment with its knowledge of insulin delivery systems. It consists of an electronic controller unit that can be used for up to two years and a disposable pump reservoir.
- Increased Insurance Accessibility
Some health insurance companies give priority to full coverage to people with diabetes. This is driving the worldwide insulin pump market. For example, if a patient has a prescription for an insulin pump and meets specific requirements, Medicare will pay a percentage of the pump's cost. The type of pump required supplies, and Medicare plan will determine the exact coverage. Several features are available through the ICICI Lombard health insurance for type 1 diabetes to assist in managing this long-term illness. For instance, these plans frequently cover insulin pumps, continuous glucose monitoring systems, and other medical equipment that may be necessary for controlling blood sugar levels. They might also pay the cost of insulin, test strips, and other prescription drugs for diabetes. Accessing diabetes education programs, support groups, and counseling services is another benefit of having type 1 diabetes health insurance.
United States Insulin Pump Market
The growing occurrence of diabetes, in particular type 1 diabetes, has propelled the increase of the United States insulin pump market. It spurs demand for practical management answers like insulin pumps. The American Diabetes Association stated that 38.4 million Americans, or 11.6% of the population, had diabetes, along with 2 million with type 1 diabetes in 2021. Technological improvements in insulin pump design, like AI integration and continuous glucose tracking compatibility, attract sufferers looking for superior diabetes management alternatives. For instance, Medtronic anticipates FDA approval for its recent pump model, the MiniMed 780g, in 2023. Heightened public recognition and broader insurance coverage for insulin pumps enhance patient access and drive market growth.
Global Insulin Pump Company News
Medtronic, Insulet Corporation, Tandem Diabetes Care, Roche, Insulet Corp., Ypsomed Holding AG, and Microtech Medical are critical businesses in the global insulin pump market.
- In January 2024 - Abbott and Tandem Diabetes Care, Inc. revealed that the t:slim X2 insulin pump featuring Control-IQ technology is the inaugural automated insulin delivery (AID) system to incorporate the recently launched FreeStyle Libre 2 Plus sensor, Abbott's latest continuous glucose monitoring (CGM) innovation.
- In January 2023 - Tandem Diabetes Care finalized its acquisition of AMF Medical, the maker of the Sigi patch pump for insulin delivery. Despite Tandem's plans to acquire AMF Medical, the Switzerland-based company does not offer Sigi commercially. Notably, the Sigi system received FDA breakthrough device designation over a year ago.
- In February 2023 - Insulet Corporation, known for its Omnipod(R) brand of products, acquired assets related to Bigfoot Biomedical's pump-based automated insulin delivery (AID) technologies. The acquisition, valued at $25M, includes specific Bigfoot patents associated with pumps suitable for AID therapy.
- In November 2023 - ViCentra B.V., the company behind Kaleido, unveiled a Hybrid closed-loop system for automated insulin delivery in partnership with Diabeloop DBLG1 control software and Dexcom G6 CGM sensor. This advanced system improves users' Time in Range glucose values by 16.7%.
Types - Market breakup in 3 viewpoints:
1. Tethered Pumps
2. Patch Pumps
3. Consumables
Diseases - Market breakup in 2 viewpoints:
1. Type 1 Diabetes
2. Type 2 Diabetes
Accessories - Market breakup in 3 viewpoints:
1. Action Figures Insulin Reservoirs
2. Infusion Sets
3. Infusion Set Insertion Devices
End-user - Market breakup in 3 viewpoints:
1. Action Figures Hospital and Clinics
2. Home Care
3. Others
Countries - Market breakup in 25 viewpoints:
1. North America
- 1.1 United States
- 1.2 Canada
2. Europe
- 2.1 France
- 2.2 Germany
- 2.3 Italy
- 2.4 Spain
- 2.5 United Kingdom
- 2.6 Belgium
- 2.7 Netherlands
- 2.8 Turkey
3. Asia Pacific
- 3.1 China
- 3.2 Japan
- 3.3 India
- 3.4 South Korea
- 3.5 Thailand
- 3.6 Malaysia
- 3.7 Indonesia
- 3.8 Australia
- 3.9 New Zealand
4. Latin America
- 4.1 Brazil
- 4.2 Mexico
- 4.3 Argentina
5. Middle East & Africa
- 5.1 Saudi Arabia
- 5.2 United Arab Emirates
- 5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Medtronic
2. Insulet Corporation
3. Tandem Diabetes Care
4. Roche
5. Insulet Corp.,
6. Ypsomed Holding AG,
7. Microtech Medical
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
5. Global Insulin Pump Market
6. Market Share - Global Insulin Pump Analysis
- 6.1 By Types
- 6.2 By Disease
- 6.3 By Accessories
- 6.4 By End User
- 6.5 By Country
7. Product Comparison of Insulin Pumps Worldwide
8. Types - Global Insulin Pump Market
- 8.1 Tethered Pumps
- 8.2 Patch Pumps
- 8.3 Consumables
9. Disease - Global Insulin Pump Market
- 9.1 Type 1 Diabetes
- 9.2 Type 2 Diabetes
10. Accessories - Global Insulin Pump Market
- 10.1 Insulin Reservoirs
- 10.2 Infusion Sets
- 10.3 Infusion Set Insertion Devices
11. End User - Global Insulin Pump Market
- 11.1 Hospital and Clinics
- 11.2 Home Care
- 11.3 Others
12. Countries - Global Insulin Pump Market
- 12.1 North America
- 12.1.1 United States
- 12.1.2 Canada
- 12.2 Europe
- 12.2.1 France
- 12.2.2 Germany
- 12.2.3 Italy
- 12.2.4 Spain
- 12.2.5 United Kingdom
- 12.2.6 Belgium
- 12.2.7 Netherlands
- 12.2.8 Turkey
- 12.3 Asia Pacific
- 12.3.1 China
- 12.3.2 Japan
- 12.3.3 India
- 12.3.4 South Korea
- 12.3.5 Thailand
- 12.3.6 Malaysia
- 12.3.7 Indonesia
- 12.3.8 Australia
- 12.3.9 New Zealand
- 12.4 Latin America
- 12.4.1 Brazil
- 12.4.2 Mexico
- 12.4.3 Argentina
- 12.5 Middle East & Africa
- 12.5.1 Saudi Arabia
- 12.5.2 United Arab Emirates
- 12.5.3 South Africa
13. Porters Five Forces
- 13.1 Bargaining Power of Buyer
- 13.2 Bargaining Power of Supplier
- 13.3 Threat of New Entrants
- 13.4 Rivalry among Existing Competitors
- 13.5 Threat of Substitute Products
14. SWOT Analysis
- 14.1 Strengths
- 14.2 Weaknesses
- 14.3 Opportunities
- 14.4 Threats
15. Reimbursement Policies
16. Company Analysis
- 16.1 Medtronic
- 16.1.1 Overview
- 16.1.2 Recent Development
- 16.1.3 Revenue
- 16.2 Insulet Corporation
- 16.2.1 Overview
- 16.2.2 Recent Development
- 16.2.3 Revenue
- 16.3 Tandem Diabetes Care
- 16.3.1 Overview
- 16.3.2 Recent Development
- 16.3.3 Revenue
- 16.4 Roche
- 16.4.1 Overview
- 16.4.2 Recent Development
- 16.4.3 Revenue
- 16.5 Insulet Corp.
- 16.5.1 Overview
- 16.5.2 Recent Development
- 16.5.3 Revenue
- 16.6 Ypsomed Holding AG
- 16.6.1 Overview
- 16.6.2 Recent Development
- 16.6.3 Revenue
- 16.7 Microtech Medical
- 16.7.1 Overview
- 16.7.2 Recent Development
- 16.7.3 Revenue
List of Figures
- Figure-01: Global - Insulin Pump Market (Billion US$), 2019 - 2023
- Figure-02: Global - Forecast for Insulin Pump Market (Billion US$), 2024 - 2032
- Figure-03: Type - Tethered Pumps Market (Million US$), 2019 - 2023
- Figure-04: Type - Forecast for Tethered Pumps Market (Million US$), 2024 - 2032
- Figure-05: Type - Patch Pumps Market (Million US$), 2019 - 2023
- Figure-06: Type - Forecast for Patch Pumps Market (Million US$), 2024 - 2032
- Figure-07: Type - Consumables Market (Million US$), 2019 - 2023
- Figure-08: Type - Forecast for Consumables Market (Million US$), 2024 - 2032
- Figure-09: Disease - Type 1 Diabetes Market (Million US$), 2019 - 2023
- Figure-10: Disease - Forecast for Type 1 Diabetes Market (Million US$), 2024 - 2032
- Figure-11: Disease - Type 2 Diabetes Market (Million US$), 2019 - 2023
- Figure-12: Disease - Forecast for Type 2 Diabetes Market (Million US$), 2024 - 2032
- Figure-13: Accessories - Insulin Reservoirs Market (Million US$), 2019 - 2023
- Figure-14: Accessories - Forecast for Insulin Reservoirs Market (Million US$), 2024 - 2032
- Figure-15: Accessories - Infusion Sets Market (Million US$), 2019 - 2023
- Figure-16: Accessories - Forecast for Infusion Sets Market (Million US$), 2024 - 2032
- Figure-17: Accessories - Infusion Set Insertion Devices Market (Million US$), 2019 - 2023
- Figure-18: Accessories - Forecast for Infusion Set Insertion Devices Market (Million US$), 2024 - 2032
- Figure-19: End User - Hospital and Clinics Market (Million US$), 2019 - 2023
- Figure-20: End User - Forecast for Hospital and Clinics Market (Million US$), 2024 - 2032
- Figure-21: End User - Home Care Market (Million US$), 2019 - 2023
- Figure-22: End User - Forecast for Home Care Market (Million US$), 2024 - 2032
- Figure-23: End User - Others Market (Million US$), 2019 - 2023
- Figure-24: End User - Forecast for Others Market (Million US$), 2024 - 2032
- Figure-25: United States - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-26: United States - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-27: Canada - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-28: Canada - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-29: France - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-30: France - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-31: Germany - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-32: Germany - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-33: Italy - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-34: Italy - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-35: Spain - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-36: Spain - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-37: United Kingdom - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-38: United Kingdom - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-39: Belgium - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-40: Belgium - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-41: Netherlands - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-42: Netherlands - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-43: Turkey - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-44: Turkey - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-45: China - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-46: China - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-47: Japan - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-48: Japan - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-49: India - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-50: India - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-51: South Korea - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-52: South Korea - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-53: Thailand - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-54: Thailand - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-55: Malaysia - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-56: Malaysia - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-57: Indonesia - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-58: Indonesia - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-59: Australia - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-60: Australia - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-61: New Zealand - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-62: New Zealand - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-63: Brazil - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-64: Brazil - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-65: Mexico - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-66: Mexico - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-67: Argentina - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-68: Argentina - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-69: Saudi Arabia - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-70: Saudi Arabia - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-71: United Arab Emirates - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-72: United Arab Emirates - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-73: South Africa - Insulin Pump Market (Million US$), 2019 - 2023
- Figure-74: South Africa - Forecast for Insulin Pump Market (Million US$), 2024 - 2032
- Figure-75: Medtronic - Global Revenue (Million US$), 2019 - 2023
- Figure-76: Medtronic - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-77: Insulet Corporation - Global Revenue (Million US$), 2019 - 2023
- Figure-78: Insulet Corporation - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-79: Tandem Diabetes Care - Global Revenue (Million US$), 2019 - 2023
- Figure-80: Tandem Diabetes Care - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-81: Roche - Global Revenue (Million US$), 2019 - 2023
- Figure-82: Roche - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-83: Insulet Corp. - Global Revenue (Million US$), 2019 - 2023
- Figure-84: Insulet Corp. - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-85: Ypsomed Holding AG - Global Revenue (Million US$), 2019 - 2023
- Figure-86: Ypsomed Holding AG - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-87: Microtech Medical - Global Revenue (Million US$), 2019 - 2023
- Figure-88: Microtech Medical - Forecast for Global Revenue (Million US$), 2024 - 2032
List of Tables
- Table-01: Global - Insulin Pump Market Share by Types (Percent), 2019 - 2023
- Table-02: Global - Forecast for Insulin Pump Market Share by Types (Percent), 2024 - 2032
- Table-03: Global - Insulin Pump Market Share by Disease (Percent), 2019 - 2023
- Table-04: Global - Forecast for Insulin Pump Market Share by Disease (Percent), 2024 - 2032
- Table-05: Global - Insulin Pump Market Share by Accessories (Percent), 2019 - 2023
- Table-06: Global - Forecast for Insulin Pump Market Share by Accessories (Percent), 2024 - 2032
- Table-07: Global - Insulin Pump Market Share by End User (Percent), 2019 - 2023
- Table-08: Global - Forecast for Insulin Pump Market Share by End User (Percent), 2024 - 2032
- Table-09: Global - Insulin Pump Market Share by Countries (Percent), 2019 - 2023
- Table-10: Global - Forecast for Insulin Pump Market Share by Countries (Percent), 2024 - 2032
