The global disposable insulin-delivery device market size was valued at USD 14,585.6 million in 2022. In the current year, 2023, the overall market value is estimated to be around USD 15,780.6 million.
The worldwide sales of disposable insulin-delivery devices are forecast to record a CAGR of 7.6% over the next ten years. By the conclusion of this forecast period, the overall market is predicted to be valued at USD 32,814 million. Growth is attributed to the surge in diabetes-related health expenditures in emerging economies.
Diabetes is one of the most chronic and life-threatening diseases affecting a large world population. Diabetes, also known as diabetes mellitus, is a metabolic disorder wherein the pancreas cannot produce insulin or the body cannot utilize insulin to metabolize glucose.
There are mainly three distinct types of diabetes: Type I Diabetes, Type II Diabetes, and gestational diabetes. The growing prevalence of diabetes is the key factor promoting market growth. The increased prevalence of diabetes has also contributed to the surging mortality rate, which is expected to fuel the growth of the disposable insulin delivery device market.
On the contrary, stringent government rules and regulations governing the product approval process and the high cost of insulin analogs in diabetes care management are expected to hamper the growth of the disposable insulin-delivery device market over the analysis period.
| Report Attributes or Data Points | Details |
|---|---|
| Global Disposable Insulin-delivery Device Market Valuation in 2022 | USD 14,585.6 million |
| Estimated Global Market Share in 2023 | USD 15,780.6 million |
| Forecasted Global Market Size by 2033 | USD 32,814 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 7.6% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 7.4% CAGR |
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Technological Advancement in Healthcare to Propel the Growth of the Market
Factors such as favorable reimbursement scenarios and strong government support in selected countries, technological advancements in insulin-delivery devices, a growing diabetic population, and rising awareness about insulin-delivery devices are expected to propel the growth of the disposable insulin-delivery market over the analysis period.
Moreover, other factors that are anticipated to augment the market growth include a surge in diabetes-related health expenditure in emerging economies and an increase in the conferences, meetings, and congresses for raising awareness about insulin delivery devices, which in turn mayl assist in the expansion of the market.
Additionally, a rise in research and development activities extends profitable opportunities to the market players during the forecast period. Also, technological advancements in insulin delivery devices mayl assist in expanding the market.
Risk factors, such as obesity and being overweight, are highly linked to the incidence of diabetes, which is rising by epidemic proportions, thus rendering a high prevalence of diabetes, which is expected to boost market growth.
Latest trends in the market, such as the launch of high-end insulin pumps, syringes, and pens, are driving demand for disposable insulin delivery devices. To achieve a significant market share, leading disposable insulin delivery device companies are focused on technological advances and the creation of innovative products.
High out-of-pocket expenditure in emerging economies and stringent government regulations are expected to hinder the growth of the market during the forecast period.
In addition, issues associated with the reuse of pen needles and infusion sets and poor reimbursement structure in developing countries are other factors expected to hamper the market growth.
Furthermore, stringent government rules and regulations governing the product approval process and the high cost of insulin analogs in diabetes care management could impede market growth in the near future.
| Category | By Distribution Channel |
|---|---|
| Top Segment | Hospital Pharmacies |
| Market Share in Percentage | 35.6% |
| Category | By Indication |
|---|---|
| Top Segment | Type II Diabetes |
| Market Share in Percentage | 78.4% |
Principal Consultant
Rising Prevalence of Diabetes Boosting Sales of Disposable Insulin Delivery Devices in North America
In terms of regional platforms, North America holds a market share in the disposable insulin-delivery device market. The region captured a 33.4% share in 2022. Growth in the country is underpinned by the rising prevalence of diabetes, favorable government initiatives, a booming disposable insulin delivery device market, and the heavy presence of leading disposable insulin delivery device manufacturers.
North America is the biggest market to ensure compliance with business processes and legal issues. The region is expected to show significant growth in the market, attributed to the prevalence of diabetes and favorable reimbursement scenarios within the region. According to the Centers for Disease Control and Prevention (CDC), over 37.3 million people have diabetes in the United States.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 33.4% |
| Europe | 29.4% |
Increasing Medical Tourism in Europe Expected to Favor Demand for Dialysis Devices and Concentrates
According to Future Market Insights, Europe is expected to provide immense growth opportunities for disposable insulin-delivery devices and reach a global share of 29.4% in 2022. Europe is expected to witness significant market growth, attributed to the rise in patient awareness of the disease in the region.
Europe is the second-leading contributor to the global disposable insulin delivery device market in terms of value due to the increasing prevalence of diabetes and the increase in healthcare expenditure for diabetes treatment in the various parts of Europe.
For instance, about 32.3 million adults were diagnosed with diabetes in the European Union in 2019, up from an estimated 16.8 million adults in 2000. An additional 24.2 million people in Europe were estimated to have diabetes but be undiagnosed in 2019. Thus, the large patient base suffering from diabetes and its growing prevalence is expected to boost the growth in this region.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 28.3% |
| Germany | 5.4% |
| Japan | 5.3% |
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Growing Health Consciousness, as well as an Increase in the Diabetic Population, are the Key Reasons Driving Growth
As per the analysis, the market in the Asia Pacific is projected to dominate the market during the forecast period. Disposable insulin delivery devices are widely used in Asian countries such as China and India. Factors such as increased diabetes awareness and an altering healthcare landscape are to blame for the increased sales of disposable insulin delivery devices in Asia Pacific countries.
Developing countries, like China and India, are expected to witness the highest growth during the study period due to a large population suffering from diabetes and its rising awareness among individuals. Furthermore, increased healthcare spending has resulted in increased adoption of technologically advanced products in countries such as China and India, which is projected to enhance market growth.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 8.6% |
| China | 9.6% |
| India | 9% |
| Australia | 5.2% |
Many prominent market players in the overall market are working hand-in-hand to provide the best-in-class Disposable Insulin-Delivery Devices for enhancing the global insulin device arena. However, many international start-ups in the market are stepping forward to match the requirements of the Disposable Insulin-delivery Device domain.
Some start-ups operating in the disposable insulin-delivery device market are Tandem Diabetes, Insulet, Valeritas, Kaleido, Companion Medical, CeQur, Ypsomed, Aerami, EoFlow, and Sigrid Therapeutics.
In May 2022 - EOFlow Co., Ltd. announced the official launching of the iOS Version of ‘Narsha,' a smartphone application for wearable insulin pumps in Korea.
Some key participants present in the global disposable insulin-delivery device market include Animas Corporation, F. Hoffmann-La Roche AG, Insulet Corporation, Medtronic Plc., Valeritas, Inc., Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Inc. Abbott Laboratories, Becton Dickinson & Co., and EyeSense GmbH among others.
Due to several leading participants, the market is highly competitive-global players such as Animas Corporation, F. Hoffmann-La Roche AG, Insulet Corporation, and Medtronic Plc. Account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in North America.
Recent Developments
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 7.6% from 2023 to 2033 |
| Market Value in 2023 | USD 15,780.6 million |
| Market Value in 2033 | USD 32,814 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Products, Disease Indication, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Animas Corporation; F. Hoffmann-La Roche AG; Insulet Corporation; Medtronic Plc.; Valeritas, Inc.; Tandem Diabetes Care, Inc.; Johnson & Johnson; Beta Bionics Inc.; Abbott Laboratories; Becton Dickinson & Co.; EyeSense GmbH |
| Customization & Pricing | Available Upon Request |
The disposable insulin-delivery device market is set to reach USD 15,780.6 million in 2023.
The global disposable insulin-delivery device market is poised to achieve a revenue milestone of USD 32,814 million by 2033.
A CAGR of 7.6% is predicted for the disposable insulin-delivery device market through 2033.
The disposable insulin-delivery device market in China is projected to exhibit 9.6% through 2033.
With a dominant market share of 78.4% in 2022, the type II diabetes segment leads the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Delivery Pumps 5.2. Delivery Patches 5.3. Delivery Pens 5.4. Delivery Syringes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Disease Indication 6.1. Type I Diabetes 6.2. Type II Diabetes 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacies 7.2. Retail Pharmacies 7.3. Online Sales 7.4. Diabetes Clinics 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Animas Corporation 18.2. F. Hoffmann-La Roche AG 18.3. Insulet Corporation 18.4. Medtronic Plc. 18.5. Valeritas, Inc. 18.6. Tandem Diabetes Care, Inc. 18.7. Johnson & Johnson 18.8. Beta Bionics Inc. 18.9. Abbott Laboratories 18.10. Becton Dickinson & Co. 18.11. EyeSense GmbH 19. Assumptions & Acronyms Used 20. Research Methodology
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Disposable Insulin-delivery Device Market
