Insulin Delivery Devices Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Insulin Delivery Devices Market Size

Insulin Delivery Devices Market Trends & Growth Drivers

Growing Significance of Home Infusion Therapy Is Key Trend in Market

• With the growing emphasis on cost-effectiveness in healthcare, there is a continuous shift of patients from expensive sites, including emergency and other hospital departments, to less-costly alternative sites, such as diabetes clinics/centers and homes, as the latter offer greater convenience.
• Due to the rising availability of advanced insulin delivery devices, particularly insulin pumps, home infusion therapy is rapidly gaining acceptance among diabetic patients.
• Infusion pumps provide an accurate dosage of insulin throughout the day; therefore, the popularity of home infusion therapy has grown significantly globally.

Technological Advancements in Insulin Delivery Devices to Drive Market Growth

• Technological advancements in these devices are also leading to their increasing acceptance.
• Insulin pens, pumps, and inhalers offer accurate dosage of insulin, thereby helping maintain the normal level of this hormone in the body.
• The usage of insulin pens is less time-consuming as compared to syringes with vials. Moreover, the advantages of these products include greater patient acceptability and minimum risk of inaccurate dosage.
• Similarly, the technology on which insulin pumps are based has improved due to the advancements in microelectronics, for decreasing the size; and computer software, for better control and communication.
• New insulin pumps offer higher safety, efficacy, and ease of usage, which further lead to greater therapeutic benefits.
• Additionally, insulin inhalers are non-invasive and have a longer effect on the body as compared to injection-based systems.
• Due to their non-invasive nature, it is expected that diabetic patients will show a higher compliance for them.
• Insulin inhalers consist of insulin and aerosol dispersion systems.
• Afrezza is one such product brand available in the market.
• Moreover, insulin patches provide a steady rate of background insulin over 24 hours.
• They can also provide additional insulin at mealtime, with the click of a button. It eliminates the need to carry insulin pens, syringes, and vials.
• Valeritas Inc.’s V-Go is one such product available in the market.

Stringent Regulatory Requirements Hamper Market Growth

• The regulatory requirements for the approval of medical devices are mostly complicated, due to the legal technicalities associated with them.
• The safety, performance, and quality of medical devices demand stringent evaluation as per the regulatory norms and standards.
• According to the USFDA, in 2013, a guideline was issued for the glass syringes used for delivering drug and biological products.
• The products considered under the evaluation process were needleless glass syringes prefilled with a drug or a biological product; empty glass syringes co-packaged with a drug or a biological product and/or connecting device; and empty glass syringes intended for use with marketed drugs or biological products.
• In the U.S., certain ISO standards have been established for glass syringes and connecting devices, such as ISO 11040-4 (prefilled syringes - part 4: glass barrels for injectables and ready-to-use prefilled syringes) and ISO 594-2 (conical fittings with 6% Luer taper for syringes, needles, and certain other medical equipment - part 2: lock fittings).
• The European Medicines Agency (EMA) considers syringes and drugs as a drug–device combination products and has different guidelines for drugs to be administered.
• For instance, Binocrit - 1000 IU/0.5 ml solution provided in a prefilled syringe having one prefilled syringe is coded EU/1/07/410/027 and Binocrit - 1000 IU/0.5 ml solution provided in a prefilled syringe having six prefilled syringes is coded EU/1/07/410/028.
• Thus, the complex and time-consuming regulatory process for the approval of devices, such as syringes and pens, may hamper the market growth.

Insulin Delivery Devices Market Analysis

Type Analysis

With a share of around 50% in 2024, insulin pens dominate the insulin delivery devices market. This can be attributed to the increasing prevalence of diabetes and the surging focus of insulin pen manufacturers on increasing their presence in countries with a large number of diabetic patients, such as China and India. Furthermore, the technological advancements in the pens and the medical reimbursements offered in developed regions are driving the growth of the market in this category.

Further, the reusable pens bifurcation holds the larger share, and it is expected to maintain the same trend during the forecast period. This can be attributed to the user-friendly design of reusable pens, which helps minimize dosage error.

We have studied the following types:

• Insulin Pens (Largest and Fastest-Growing Category)
  • Reusable (Larger Subcategory)
  • Disposable (Faster-Growing Subcategory)
• Insulin Pumps
  • External/Tethered
  • Patch
• Insulin Syringes

Distribution Channel Analysis

Pharmacies will dominate the insulin delivery devices market in 2024 with 55% revenue share. The high sales of these devices via this channel are mainly because patients suffering from diabetes prefer to purchase these devices from pharmacies.

The e-commerce category is expected to witness the highest CAGR, of 11.5%, during the forecast period, mainly due to the fact that online pharmacies offer convenience to consumers. They enable people to compare similar products, play electronically, have the products delivered at their doorstep, and avail of discounts and promotional offers.

The following distribution channels have been analyzed:

• Pharmacies (Largest Category)
• Diabetes Clinics/Centers
• E-Commerce (Fastest-Growing Category)

End Use Analysis

The home-use category accounts for the largest share in the market, in 2024. This is due to the surging prevalence of diabetes, rising awareness about diabetes management, and increasing geriatric population. Moreover, the growing obese population has been leading to a higher number of cases of diabetes, which further supports the market growth in this category.

The report offers insights for the following end uses:

• Home Use (Largest Category)
• Hospitals (Fastest-Growing Category)
• Others

Regional Analysis

North America Holds Largest Share in Market

• Globally, North America is the largest market for these devices, contributing around 40% revenue in 2024.
• The regional market is growing mainly due to the surging prevalence of lifestyle diseases, including diabetes and obesity, rising knowledge of people on newer, more-advanced ways of diabetes management, and increasing healthcare spending.
• Moreover, the growing obese population has been leading to a large number of diabetes cases in the region.
• Obesity and insulin resistance have been considered as independent risk factors for diabetes; thus, the rising obese population is driving the demand for these devices in the region.
• Furthermore, several awareness programs with respect to this common endocrine disorder in North America are promoting diabetes care among citizens, which will further propel the market growth in the coming years.
• It has also been observed that the increasing prevalence of diabetes poses an economic burden and escalates the healthcare spending.
• For instance, as per the American Diabetes Association (ADA), the economic burden of diabetes and prediabetes is USD 322 billion each year, and the healthcare cost for a diabetic patient is 2.3 times higher than for someone without this condition.
• Thus, the need to curb the healthcare burden requires extensive care, which is expected to boost the growth of the market in the coming years.
• APAC will witness the highest CAGR in the forecast period, of 11.2%.
• This growth is mainly led by the growing geriatric population, increasing prevalence of diabetes, and unhealthy lifestyle choices due to rapid urbanization.
• The number of elderly people in APAC is increasing at an unprecedented rate, and the region is at the forefront of the global population aging crisis. According to the United Nations Population Fund (UNFPA), by 2050, one in every four people in Asia and the Pacific will be over 60 years of age.
• Between 2010 and 2050, the region's population of older people (those over the age of 60 years) will triple, reaching nearly 1.3 billion.
• Additionally, China, India, and Japan are the leading countries in the APAC region in terms of the older population.

The following regions and countries are covered in the report:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Regional Market)
  • Canada
• Europe
  • Germany (Largest and Fastest-Growing Regional Market)
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest and Fastest-Growing Regional Market)
  • Japan
  • India
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest Country Market)
  • Mexico (Fastest-Growing Country Market)
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Fastest-Growing Country Market)
  • South Africa (Largest Country Market)
  • U.A.E.
  • Rest of MEA

Insulin Delivery Devices Market Share

The market is consolidated, primarily because the entry barriers are high. The high investment needed in developing devices that comply with the stringent EMA, FDA, and other safety and efficacy regulations make it difficult for small companies to penetrate the market. This means that, primarily, established players hold major shares in this space, also enabled by their partnerships with medical institutions and academic & research centers. Additionally, healthcare professionals and patients both place their trust in brands they know and have been using for years.

Insulin Delivery Device Market News

• In June 2024, Medtronic plc presented additional data on its MiniMed 780G system demonstrating its ability to automatically manage blood sugar levels in people with type 1 diabetes.
• In May 2024, Eli Lilly and Company announced its commitment to donate USD 6.5 million to the United States Fund for UNICEF to help improve outcomes for people living with non-communicable diseases, such as type 1 diabetes, rheumatic diseases, respiratory illnesses, congenital heart disease, and sickle cell disease, living in places in India with limited healthcare resources.
• In March 2024, Becton, Dickinson and Company announced that it had increased its syringe production capacity at its Nebraska and Connecticut factories.
• In March 2024, Novo Nordisk A/S announced the receipt of the EMA’s marketing authorization for Awiqli, once-weekly basal insulin icodec for adults.