Insulin Patch Pumps Global Market Report 2024

Insulin patch pumps, compact computerized devices with pre-programmed insulin dosage delivery, offer diabetic patients a convenient means of managing their blood sugar levels. Typically attached to a strap beneath clothing, in a pocket, on a waist belt, or affixed with an adhesive patch on the patient's stomach or arm, these devices facilitate discreet and accessible insulin administration.

The primary categories of insulin patch pumps include traditional insulin pumps, smart insulin pumps, and disposable insulin pumps. Traditional insulin pumps are small devices that deliver insulin through a plastic tube, providing a continuous supply throughout the day and night. Additionally, before meals, they can administer insulin more rapidly, employing the basal and bolus delivery modes. These pumps are available in two types: tethered pumps and patch pumps, catering to patients with both type 1 and type 2 diabetes. Widely utilized in hospitals, clinics, laboratories, and other medical settings, these insulin patch pumps play a pivotal role in diabetes management.

The insulin patch pumps market research report is one of a series of new reports that provides insulin patch pumps market statistics, including insulin patch pumps industry, global insulin patch pumps size, regional shares, competitors with a insulin patch pumps market share, detailed insulin patch pumps market segments, market trends and opportunities, and any further data you may need to thrive in the insulin patch pumps industry. This insulin patch pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The insulin patch pumps market size has grown rapidly in recent years. It will grow from $1.32 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth observed in the historical period can be attributed to the rising prevalence of diabetes, a preference among patients for non-invasive delivery methods, an increase in the geriatric population, heightened safety concerns, and advancements in miniaturization and improved form factors.

The insulin patch pumps market size is expected to see rapid growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The projected growth in the forecast period can be linked to the increasing adoption of telehealth, a rise in pediatric diabetes cases, growing awareness about diabetes, environmental and sustainability concerns, and a surge in healthcare initiatives. Key trends expected in the forecast period involve the use of quantum computing design tools, a growing integration of artificial intelligence and machine learning, the adoption of digital twin simulations, advancements in custom IC design tools, and a rise in high-level synthesis tools.

The anticipated surge in diabetes cases worldwide is set to be a driving force behind the growth of the insulin patch pumps market in the forecast period. Diabetes, a prevalent global ailment often attributed to lifestyle and dietary habits, underscores the importance of convenient insulin delivery methods. Insulin patch pumps emerge as a favorable option, facilitating the direct delivery of insulin into the body, and are preferred by many individuals with diabetes over traditional insulin injections. The escalating prevalence of diabetes, as per the International Diabetes Federation, highlights a significant global health concern, with around 537 million people aged 20 to 79 affected in 2021. Projections indicate an estimated increase to 643 million by 2030, with approximately 6.7 million deaths recorded in 2021 due to diabetes. Consequently, the growing prevalence of diabetes worldwide is poised to propel the insulin patch pumps market.

The growing demand for wearable devices is expected to play a pivotal role in driving the growth of insulin patch pumps. Wearable devices, encompassing electronic accessories or clothing designed to offer various functionalities, including health monitoring and fitness tracking, are integral to the insulin patch pump landscape. Insulin patch pumps leverage wearable devices such as smartphones or smartwatches for real-time glucose monitoring and insulin delivery records. According to Deloitte Touche Tohmatsu Limited, the number of consumer health and wellness wearable devices reached 320 million in 2022, with projections estimating a rise to nearly 440 million by 2024. This surge in demand for wearable devices contributes significantly to the growth of the insulin patch pumps market.

The integration of advanced technologies into insulin patch pumps stands out as a prominent trend in the market. These pumps are evolving with features like smartphone integration and automation in insulin delivery. Continuous glucose monitors and traditional insulin pumps are transforming into smarter devices that streamline insulin delivery, providing convenience and reducing the need for manual intervention. Notably, Insulet Corporation received FDA clearance for its Omnipod 5 automated insulin delivery system in January 2022, featuring compatibility with smartphone control, marking a significant advancement in the market.

Innovation remains a focal point for major companies in the insulin patch pumps sector, exemplified by the introduction of products like the Infusion Set for Insulin Pumps. Launched by Medtronic plc in November 2022, this insulin patch pump is designed for up to seven days of wear for subcutaneous insulin infusion. It utilizes advanced materials to minimize insulin preservative loss, maintaining insulin flow and stability, making it a cost-effective option for diabetes management.

Strategic acquisitions contribute to the market landscape, as seen in Tandem Diabetes Care, Inc.'s acquisition of AMF Medical SA in January 2023. This move aims to enhance Tandem Diabetes Care's portfolio in diabetes care and bring advanced insulin pump therapy benefits to a broader audience. AMF Medical SA, a Switzerland-based MedTech company, specializes in the development of insulin patch pumps.

Major companies operating in the insulin patch pumps market include Cellnovo Group SA, Insulet Corporation, Medtronic PLC, Tandem Diabetes Care Inc., Hoffmann-La-Roche AG, AMF Medical SA, Animus Corp., Abbott Laboratories Inc., Becton Dickinson and Company, Braun Melsungen AG, Cequr SA, Debiotech SA, DexCom Inc., Eoflow Co. Ltd., Embecta Corp., Hospira Inc., Johnson & Johnson Services Inc., LifeScan Inc., Sanofi S.A., Univlabs Technologies Pvt. Ltd., Ypsomed Holding AG, Zealand Pharma A/S, Bigfoot Biomedical Inc., Echo Therapeutics Inc., Glysens Inc., Medella Health Ltd., Roche Diabetes Care GmbH, Valeritas Inc., 3S Corporation, Apex Medical Devices

North America was the largest region in the insulin patch pumps market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insulin patch pumps market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the insulin patch pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The insulin patch pumps market consist of sales of insulin reservoir, pumping, mechanism and cannula. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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