Market Overview
The Global Insulin Delivery Devices Market is expected to dominate with
USD 35.2 billion in 2024 and is anticipated to grow to
USD 75.4 billion by 2033 at a CAGR of 8.8% due to growing conditions of obesity and diabetes around the globe. Insulin delivery devices like syringes, pens, pumps, and jet injectors are
medical tools for insulin delivery used by consumers with diabetes to take insulin which controls blood sugar. These devices offer different benefits and considerations in terms of ease of use, convenience, and flexibility in this delivery, allowing individuals with diabetes to manage their condition effectively.
Key Takeaways
- The Global Insulin Delivery Devices Market is expected to dominate with USD 35.2 billion in 2024 and is anticipated to grow to USD 75.4 billion by 2033 at a CAGR of 8.8%.
- The insulin pens segment is expected to dominate the market with the largest revenue share of 36.0 % in 2024.
- This market is expected to dominate by homecare segment accounting for highest revenue share of 49.7% in 2024.
- North America is anticipated to dominate the market with the largest revenue of 38.6% in 2024.
Use Cases
- Insulin pens are widely used for regulating insulin in a convenient and discreet manner. They are particularly useful for patient who need daily insulin injections.
- Daily insulin delivery from insulin pumps helps to stable blood sugar levels during the night and in regular meals as it is helpful for those with type 1 diabetes, who need to have accurate insulin delivery day and night.
- Insulin syringes are used to collect insulin from containers and inject it into the skin beneath for the patient who prefers or requires manual injections.
- Insulin jet injectors provide an alternative to needle injections for the delivery of insulin as they reduce the discomfort of needle injections and can improve insulin therapy, especially in patients who are afraid of needles.
Market Dynamic
Major factor for the market expansion is growing occurrence of diabetes due to aging, obesity, and bad lifestyle choices. Diabetes incidence are strongly correlated with risk factors like obesity and overweight. Consequently, the market for insulin delivery devices is rising driven by the large population suffering from diabetes. In addition, the increasing demand for advanced insulin delivery devices, such as innovative pen devices and portable pumps, is driving market growth. Also, patients are given access to a very dependable and practical solution due to the development of digital diabetes management technologies and their association with insulin delivery devices. However, the growth of this market is hampered due to strict government laws and regulations controlling the process of product approval and the high price of synthetic insulin for the treatment of diabetes.
Research Scope and Analysis
By Product
The insulin pens segment is expected to dominate the market with
the largest revenue share of 36.0 % in 2024 due to its benefits over other devices. Also, its popularity rate, easy to use design, and growing customer base are main reason that led to this segment's highest revenue share. These devices are often prefilled with insulin, removing the need for manual drawing and measuring of insulin doses as it is desired by patients who lead active lifestyles or who travel normally. Further, patients find it easier to use and less terrifying than syringes, particularly those who are newly diagnosed with diabetes. further, growing use of pens among the geriatric consumer is also expected to boost the demand of these segment. In developing countries where patient capacity is low, reusable pen devices are predicted to grow.
The syringe segment is anticipated to grow with highest CAGR during forecasted period due to its availability and user friendly and self-administrable characteristics. Moreover, insulin jet injections are needleless while pumps are comfortably wearable by patients.
By Application
This market is expected to dominate by homecare segment accounting for highest revenue share of 49.7% in 2024 and it continues to hold its position during upcoming period.
The main reasons for of this segment's significant expansion are rising patient adoption of these devices in home as it reduces waiting times, hospital or clinic fees, and visit expenses. The modern devices which come in the form of pens, injectors, and pumps, are small, highly portable, and always useful. Insulin users are selecting self-care diabetes control solutions at home due to their improved ease of use and increased accessibility. Moreover, the hospital segment is important in this market as it often use devices like pumps and pens to manage blood sugar levels in diabetic patient which allow for precise dosing and continuous delivery of insulin enabling medical profession to maintain insulin control among patients.
The Insulin Delivery Market Report is segmented based on the following
By Product
- Insulin syringes
- Insulin pens
- Insulin pumps
- Insulin injectors
By Application
- Homecare
- Hospitals
- Others
Regional Analysis
North America is expected to dominate the market and account for the largest revenue of 38.6% in 2024 due to rising population and the use of modern high technology device in this region. Growing occurrence of patient suffering from diabetes is anticipated to boost the market in this region. Also, the market of this region is significantly growing due to the rising biotechnology industry and availability of equipped
healthcare sector. Further, the growth of insulin storage in this region encourages the launch and availability of many devices, which also boosting the growth of the market. Market in this region is driven by high awareness level among consumer and great healthcare spending by government.
This market is anticipated to grow fast over upcoming year in Asia-Pacific region due to a high incidence of diabetes and growing awareness of the disease in developing countries like China and India.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The key players in this market are focused on expanding their portfolio through collaboration, mergers, and acquisitions that also help them increasing the market presence on a global level. Further companies are collaborating with local players to improve their market reach. The manufacturer is focused on promoting innovation and advancement is major factor for high revenue, for instance Novo Nordisk launched a new device, NoVo Pen Echo with a memory function and half-unit dosage features. Foreign vendors are expanding their business and provide high end product for diabetes care.
Some of the prominent players in the global insulin delivery device market are
- Novo Nordisk A/S
- Sanofi
- Eli Lilly and Company
- Biocon Ltd.
- Ypsomed AG
- Wockhardt Ltd.
- Medtronic
- Abbott Laboratories
- F. Hoffmann-La Roche, Ltd.
- Others
Recent Development
- In June 2023, Novo Nordisk acquired BIO JAG which aimed of delivering cutting edge devices and delivery solutions to improve care for consumer across the globe living with serious chronic diseases.
- In February 2023, Eli Lilly partnered with IABL to supply its active pharmaceutical ingredient for human insulin at a reduced price in an effort to increase patient access and improve affordability for high-quality insulin.
- In January 2023, Embecta announced to open its new headquarters at 300 Kimball Drive, Suite 300, in Parsippany, New Jersey.
- In November 2022, Medtronic plc announced the launch of infusion set which is the first and only infusion set labelled for up to 7-day wear, used to delivers insulin from an insulin pump to the body and typically need a set change every two to three days.
Report Details
| Report Characteristics |
| Market Size (2024) |
USD 35.2 Bn |
| Forecast Value (2033) |
USD 75.4 Bn |
| CAGR (2024-2033) |
8.8% |
| Historical Data |
2018 – 2023 |
| Forecast Data |
2024 – 2033 |
| Base Year |
2023 |
| Estimate Year |
2024 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Insulin pens, Insulin syringes, Insulin pumps, Insulin injectors), By Application (Homecare, Hospitals, Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Novo Nordisk A/S, Sanofi, Eli Lilly and Company, Biocon Ltd., Ypsomed AG, Wockhardt Ltd., Medtronic, Abbott Laboratories, F. Hoffmann-La Roche, Ltd. and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Insulin Delivery Devices Market size is estimated to have a value of USD 35.2 billion in 2024 and is expected to reach USD 75.4 billion by the end of 2033.
North America has the largest market share for the Global Insulin Delivery Devices Market with a share of about 38.6 % in 2024.
Some of the major key players in the Global Insulin Delivery Devices Market are Novo Nordisk, Eli Lilly, and Sanofi and many others.
The market is growing at a CAGR of 8.8 percent over the forecasted period.
Contents
1.1.Objectives of the Study
1.3.Market Definition and Scope
2.Insulin Delivery Devices Market Overview
2.1.Global Insulin Delivery Devices Market Overview by Type
2.2.Global Insulin Delivery Devices Market Overview by Application
3.Insulin Delivery Devices Market Dynamics, Opportunity, Regulations, and Trends Analysis
3.1.1.Insulin Delivery Devices Market Drivers
3.1.2.Insulin Delivery Devices Market Opportunities
3.1.3.Insulin Delivery Devices Market Restraints
3.1.4.Insulin Delivery Devices Market Challenges
3.2.Emerging Trend/Technology
3.4.PORTER'S Five Forces Analysis
3.6.Opportunity Map Analysis
3.11.Supply/Value Chain Analysis
3.12.Covid-19 & Recession Impact Analysis
3.13.Product/Brand Comparison
4.Global Insulin Delivery Devices Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By Product, 2017-2032
4.1.Global Insulin Delivery Devices Market Analysis by By Product: Introduction
4.2.Market Size and Forecast by Region
5.Global Insulin Delivery Devices Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By Application, 2017-2032
5.1.Global Insulin Delivery Devices Market Analysis by By Application: Introduction
5.2.Market Size and Forecast by Region
10.Global Insulin Delivery Devices Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by Region, 2017-2032
10.1.1.North America Insulin Delivery Devices Market: Regional Analysis, 2017-2032
10.2.1.Europe Insulin Delivery Devices Market: Regional Trend Analysis
10.3.1.Asia-Pacific Insulin Delivery Devices Market: Regional Analysis, 2017-2032
10.3.1.7.Rest of Asia-Pacifc
10.4.1.Latin America Insulin Delivery Devices Market: Regional Analysis, 2017-2032
10.4.1.5.Rest of Latin America
10.5.Middle East and Africa
10.5.1.Middle East and Africa Insulin Delivery Devices Market: Regional Analysis, 2017-2032
11.Global Insulin Delivery Devices Market Company Evaluation Matrix, Competitive Landscape, Market Share Analysis, and Company Profiles
11.1.Market Share Analysis
11.3.2.Financial Highlights
11.3.5.Key Strategies and Developments
11.4.2.Financial Highlights
11.4.5.Key Strategies and Developments
11.5.2.Financial Highlights
11.5.5.Key Strategies and Developments
11.6.Eli Lilly and Company
11.6.2.Financial Highlights
11.6.5.Key Strategies and Developments
11.7.2.Financial Highlights
11.7.5.Key Strategies and Developments
11.8.2.Financial Highlights
11.8.5.Key Strategies and Developments
11.9.2.Financial Highlights
11.9.5.Key Strategies and Developments
11.10.2.Financial Highlights
11.10.3.Product Portfolio
11.10.5.Key Strategies and Developments
11.11.Abbott Laboratories
11.11.2.Financial Highlights
11.11.3.Product Portfolio
11.11.5.Key Strategies and Developments
11.12.F. Hoffmann-La Roche, Ltd.
11.12.2.Financial Highlights
11.12.3.Product Portfolio
11.12.5.Key Strategies and Developments
11.13.2.Financial Highlights
11.13.3.Product Portfolio
11.13.5.Key Strategies and Developments
12.Assumptions and Acronyms