Insulin Pumps Market Report and Forecast 2023-2031

The global insulin pump market attained a value of nearly USD 4.7 billion in 2022, driven by the ageing population, unhealthy lifestyle habits, and increasing obesity rates. The market is likely to grow at a CAGR of 6.2% during the forecast period of 2023-2031 to attain a value of USD 8.1 billion by 2031.

Insulin Pump Market: Introduction

An insulin pump is a small, computerized device that delivers insulin into the body. It's primarily used by people with type 1 diabetes but can also be beneficial for some people with type 2 diabetes. The device is about the size of a small cell phone and is usually worn externally, on a belt or in a pocket. The insulin pump is connected to the body through a thin plastic tube, known as an infusion, set, with a cannula at the end that is inserted under the skin, usually in the abdomen.

The insulin pump works by delivering a steady, continuous dose of short-acting insulin (known as basal rate) throughout the day and night, which mimics the natural, continuous release of insulin by a healthy pancreas. It also allows the user to deliver a larger dose of insulin (a bolus dose) at mealtimes or when a correction is needed due to high blood glucose levels.

Uses of Insulin Pumps:
Insulin pumps are used to manage blood glucose levels in individuals with diabetes. It is also used for the following purposes:

• Deliver a steady, continuous supply of insulin (basal insulin) to keep blood sugar levels stable between meals and overnight
• Allow the user to manually administer extra doses of insulin (bolus insulin) at mealtimes, or when blood sugar levels are higher than desired
• Can be programmed to deliver varying amounts of insulin at different times of the day, which can be beneficial for individuals with varying insulin needs

Benefits of Insulin Pumps:
Insulin pumps can offer several benefits over traditional insulin injections:

• Improved Blood Sugar Control: The continuous delivery of insulin can help to maintain more stable blood sugar levels, reducing the risk of both high (hyperglycaemia) and low (hypoglycaemia) blood sugar episodes
• Increased Flexibility: An insulin pump can offer greater flexibility in terms of lifestyle, as users can adjust their insulin delivery to match changes in their schedule, activity levels, or food intake
• Less Frequent Injections: Using an insulin pump means you only need to change the infusion set every two to three days, as opposed to multiple daily injections
• Dose Precision: Insulin pumps can deliver very precise amounts of insulin, which can be particularly beneficial for children or individuals who require small doses of insulin
• Improved Quality of Life: Many people find that insulin pumps improve their quality of life, as they offer more freedom and flexibility, and make diabetes management less intrusive
• However, insulin pumps are not suitable for everyone, and using one requires training and regular follow-up with a healthcare team. It is important to discuss this treatment option with a healthcare provider to determine if it's the right choice for an individual's specific needs and lifestyle

Insulin Pump Market Segmentations

Market Breakup by Product Type

Insulin Pumps

• Tethered Pumps
• Disposable/Patch Insulin Pumps

Insulin Pump Supplies and Accessories

• Insulin Reservoirs/Cartridges
• Infusion Set Insertion Devices

Market Breakup by Disease Indication

• Type I Diabetes
• Type II Diabetes

Market Breakup by Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Insulin Pump Market Breakup by Region

North America

• United States of America
• Canada

Europe

• United Kingdom
• Germany
• France
• Italy
• Others

Asia Pacific

• China
• Japan
• India
• ASEAN
• Australia
• Others

Latin America

• Brazil
• Argentina
• Mexico
• Others

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Insulin Pump Market Scenario

As of my knowledge cut-off in September 2021, the global insulin pump market was witnessing steady growth, driven by increasing prevalence of diabetes, advancements in insulin pump technology, and rising awareness about the benefits of insulin pumps over traditional insulin injection methods.

The market was also being influenced by factors such as the ageing population, unhealthy lifestyle habits, and increasing obesity rates, which are all linked to a higher incidence of diabetes. Countries with higher rates of diabetes, such as the United States, India, and China, were significant contributors to the global insulin pump market.

In terms of technology, advancements were playing a crucial role in the growth of the insulin pump market. Manufacturers were focusing on developing smaller, more convenient, and more precise devices. For example, the development of 'artificial pancreas' systems, which combine insulin pumps with continuous glucose monitors to automatically adjust insulin delivery based on blood sugar levels, was a significant innovation.

Furthermore, wireless and smartphone-compatible insulin pumps were gaining traction, enabling users to control their insulin delivery using a smartphone app and improving their overall quality of life. This integration of digital health technology with insulin pumps was expected to drive future growth in the market.

However, the insulin pump market was also facing challenges. The high cost of insulin pumps and the ongoing need for consumable supplies can be prohibitive for many potential users. Additionally, some users find the need to wear a device continuously to be a significant drawback. Finally, potential technical issues and the risk of complications, such as infection at the infusion site, can also hinder market growth.

Key Players in the Global Insulin Pump Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Insulet Corporation
• Medtronic
• Roche
• Tandem Diabetes Care, Inc
• Ypsomed AG
• Ascensia Diabetes Care
• Apex Medical
• Menarini Diagnostics s.r.l