Global Insulin Delivery Devices Market, By Type (Insulin Pumps, Insulin Pens, Insulin Pen needles, Insulin Jet Injectors, Insulin Syringes, and Other Types), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales, Diabetes Clinics/Centers, and Other Distribution Channels), By End-User (Hospitals, Homecare, and Other End-Users) (By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Insulin Delivery Devices Market Size accounted for USD 14.5 billion and is expected to grow to around USD 30.2 billion in 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 7.8%.

Diabetes patients receive their insulin through the use of pens, syringes, pumps, and jet injectors. One of the key factors influencing the market is the increasing prevalence of diabetics. Obesity, aging, & unhealthy lifestyle choices can be held responsible for this. Obesity is believed to be a major factor in diabetes. Diabetes is a disease that has a rapidly increasing incidence. Obesity & overweight are two of the major risk factors.

The enormous diabetic population has been driving the market for insulin delivery devices. Additionally, the widespread use of recently introduced inventive pen devices and portable pumps is being supported by the rising demand for advanced insulin delivery systems, which is anticipated to accelerate market expansion.

Key Takeaways

• The Insulin Delivery Devices market size was USD 14.5 billion in 2022.
• The projected market size for Insulin Delivery Devices is USD 30.2 billion by the end of 2032.
• The estimated CAGR between 2023 and 2032 is 7.8%.
• The Insulin Pens segment had the largest revenue share in 2022, standing at 36.5%.
• Retail Pharmacy was the dominant distribution channel in the Insulin Delivery Devices market in 2022.
• The homecare segment in the Insulin Delivery Devices market held the largest revenue share of 48.9% in 2022.
• North America had the largest revenue share in the Insulin Delivery Devices market in 2022, accounting for 37.5%.
• The Canadian Diabetes Association predicts almost 5 million Canadians will have diabetes by 2025.
• Novo Nordisk released two smart attached insulin pens, the NovoPen 6 and the NovoPen Echo Plus, in the UK in March 2022.
• The FDA approved the Omnipod 5 system in January 2022.
• Eli Lilly introduced Rezvoglar KwikPen, an insulin glargine biosimilar version, which was approved by the FDA in December 2021.

Drivers

Technological Developments

Technological developments are causing the market for insulin delivery systems to expand. Wearable insulin pumps and smart insulin pens are among the latest technologies to help patients control their diabetes with greater ease, precision, and flexibility.

Improving Patient Outcomes and Reducing Healthcare Costs

Devices for delivering insulin help medical professionals better manage diabetes, lowering complications, and enhancing patient outcomes. As a result, the price of treating diabetes at a healthcare facility might be reduced. The use of insulin delivery devices is being driven by a focus on improving patient outcomes and reducing healthcare costs.

Restraints

High Cost of Insulin Delivery Devices

One of the major barriers to the adoption of insulin delivery devices is their high cost, which includes insulin pumps & continuous glucose monitoring systems. Many patients, particularly in underdeveloped nations, cannot afford these devices because of the high cost. This has decreased the adoption rate & constrained market expansion.

Competition from Alternative Therapies

The use of insulin delivery devices may be constrained by competition from alternative medicines, such as oral hypoglycemic medications, which can be used to manage diabetes. Because they are more convenient and less expensive, some patients could favor this alternative therapy. The market growth for insulin delivery devices may be constrained by this competition.

Type Analysis

The Insulin Pens Segment Accounted for the Largest Revenue Share in Insulin Delivery Devices Market in 2022

Based on type, the market is segmented into Insulin Pens, Insulin Pumps, Insulin Pen needles, Insulin Syringes, Insulin Jet Injectors, and Other types. Among these types, the insulin pens segment is expected to be the most lucrative in the global insulin delivery devices market, with the largest revenue share of 36.5% during the forecast period.

The largest revenue share of this segment was influenced by factors including its high adoption rate, user-friendly design, and growing popularity among customers. Another significant aspect contributing to the high share is manufacturers’ increased attention to supporting innovation and advances.

Distribution Channel Analysis

The Retail Pharmacy Segment Accounted for the Largest Revenue Share in the Insulin Delivery Devices Market in 2022

The market for insulin delivery devices is currently dominated by the retail pharmacy sector. Patients can easily access retail pharmacies, which provide a variety of insulin delivery tools, such as insulin pens, insulin pumps, and syringes. Additionally, pharmacists who can offer instruction and training on how to correctly use these devices are frequently found in retail pharmacies.

However, the online sales sector is also expanding rapidly, in part because online shopping is convenient and inexpensive. Due to the COVID-19 pandemic, patients may want to avoid going to pharmacies or clinics in person. This has further accelerated the increase in online sales.

End-user Analysis

The Homecare Segment Accounted for the Largest Revenue Share in Insulin Delivery Devices Market in 2022

Based on end-users, the market is segmented into Hospitals, Homecare, and Other end-users. Among these end-users, the homecare segment is expected to be the most lucrative in the global insulin delivery devices market, with the largest revenue share of 48.9%. During the forecasting period, it is expected that the home care segment will continue to hold a dominant position in the market for insulin delivery devices.

Growing diabetes care awareness and patient adoption of insulin delivery devices for use at home are the main drivers driving the segment’s rise. Utilizing insulin delivery systems at home reduces waiting times, hospital or clinic fees, and visitation expenditures. Pumps, pens, and injectors are just a few examples of modern technology that is compact, extremely portable, and usable anytime, anyplace. Because these devices are easier to obtain and simpler to use, insulin users are choosing self-care diabetes control solutions.

Key Market Segments

Based on Type

• Insulin Pumps
  • Tubed/Tethered
  • Tubeless
• Insulin Pens
  • Reusable
  • Disposable
• Insulin Pen Needles
• Standard
• Safety
• Insulin Jet Injectors
• Insulin Syringes
• Other Types

Based on Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Sales
• Diabetes Clinics/Centers
• Other Distribution Channels

Based on End-User

• Hospitals
• Homecare
• Other End-Users

Opportunities

Growing adoption of telemedicine and digital health technologies

Telemedicine & digital health technologies are becoming more widely used. This trend is anticipated to continue in the market for insulin delivery devices as telemedicine and digital health technologies gain popularity in the healthcare sector. These technologies enable remote blood glucose monitoring & insulin delivery, which is driving market expansion.

Growing awareness of diabetes management

Patients are taking a more active role in their care and adopting insulin delivery devices to manage their disease as awareness of diabetes management continues to rise. Market expansion is anticipated as a result of this tendency, particularly in developing nations where there is a lack of information regarding diabetes care.

Latest Trends

Increasing adoption of smart insulin pens

Smart insulin pens are becoming increasingly popular in the market. With these pens, patients may more easily control their insulin dosage and keep track of their insulin usage due to features including Bluetooth connectivity, dose tracking, and reminders.

Increase in the adoption of telemedicine & digital health technologies

The market for insulin delivery devices has become rising in popularity with telemedicine and digital health technology. With the help of these technologies, patients can remotely monitor their insulin delivery and blood sugar levels, which decreases the need for in-person consultations and improves patient results.

Regional Analysis

North America Accounted for the Largest Revenue Share in Insulin Delivery Devices Market in 2022

North America is estimated to be the most lucrative market in the global Insulin Delivery Devices market, with the largest market share of 37.5% during the forecast period. The significant market growth in North America is largely due to the increased number of diabetic patients & the availability of technologically improved devices.

The prevalence of diabetes is rising in Canada, & the Canadian Diabetes Association predicts that by 2025, there will be almost 5 million Canadians suffering from diabetes. Since it is anticipated that the vast patient population suffering from diabetes and its increasing prevalence will drive growth in this area.

Asia Pacific is expected as Fastest Growing Region in the Projected Period in the Insulin Delivery Devices Market

It is anticipated that the market for insulin delivery devices in the Asia Pacific would expand rapidly. Due to the high prevalence of diabetes and the growing public awareness of the disease, developing economies like China and India are predicted to have the highest growth during the predicted period. The main driver of the increase is the expansion of international vendors’ businesses in Asia Pacific and their delivery of premium diabetic care products.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Novo Nordisk, Eli Lilly, and Sanofi are the three main companies that dominate the market for insulin delivery systems. To expand their portfolios, these leaders frequently use development tactics including partnerships, mergers, acquisitions, collaborations, and new product releases. Rezvoglar KwikPen, for instance, an insulin glargine biosimilar version developed by Eli Lilly, was approved by the FDA in December 2021.

Market Key Players

• Novo Nordisk A/S
• Sanofi
• Eli Lilly and Company
• Biocon Ltd.
• Ypsomed AG
• Wockhardt Ltd.
• Medtronic
• Abbott Laboratories
• Hoffmann-La Roche, Ltd.
• Becton, Dickinson and Company
• Other Market Players

Recent Developments

• Novo Nordisk announced in March 2022 that two smart attached insulin pens, the NovoPen 6 and the NovoPen Echo Plus, are available in the UK on prescription for persons with diabetes using Novo Nordisk insulin.
• The FDA (Food and Drug Administration) approved the new Omnipod 5 system in January 2022, marking Boston-based Insulet Corp.’s entry into the automated insulin delivery (AID) market.

Report Scope