Canada Insulin Delivery Devices Market Size

Canada Insulin Delivery Devices Market Analysis

The Canada Insulin Delivery Devices Market size is estimated at USD 1.27 billion in 2024, and is expected to reach USD 1.45 billion by 2029, growing at a CAGR of 2.67% during the forecast period (2024-2029).

According to Diabetes Canada 2021, since the beginning of the COVID-19 pandemic, studies have shown that diabetes was one of the major comorbidities associated with developing severe COVID-19-related adverse outcomes and mortality. Adults with diabetes who contracted COVID-19 were at higher risk of developing adult respiratory distress syndrome, pneumonia, excessive uncontrolled inflammation responses, and a hypercoagulable state. 

Early reports depicted in-hospital death from COVID-19 to be 2.85 times higher in adults living with diabetes compared to patients without diabetes. According to experts, inpatient use of diabetes technology in patients with proper institutional protocols was safe and improved inpatient glycemic outcomes and played a vital role in managing hypoglycemia and hyperglycemia in hospitalized patients.

Diabetes is a chronic condition characterized by high blood glucose levels caused by the inability to produce or use insulin effectively. The main types of diabetes are type-1 diabetes and type-2 diabetes. For a patient with type 1 diabetes, insulin therapy is important for replacing the insulin the body doesn't produce. People with type-2 diabetes or gestational diabetes need insulin therapy if other treatments, such as diabetes medications and other lifestyle changes, cannot keep blood glucose levels within the desired range. 

Diabetes treatment aims to maintain healthy blood glucose levels to prevent short- and long-term complications, such as cardiovascular disease, kidney disease, blindness, and lower limb amputation. Furthermore, patients attempting to control their blood glucose levels tightly to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia. Achieving nominal results can be very difficult without multiple daily insulin or insulin pump therapy injections.

Technological advancements have increased over the period in Insulin delivery devices for safer and more accurate insulin administration. Medtronic recently launched an Extended infusion set that leverages advanced materials that help reduce insulin preservative loss and maintain insulin flow and stability. The set is compatible with all MiniMed 600 and 700 series insulin pumps. The new tubing connector improves insulin's physical and chemical stability and reliability of infusion site performance and reduces the risk of an infusion set occlusion. In addition to the new infusion set, the Medtronic Extended reservoir is tested and approved to keep insulin stable and safely used for up to 7 days.

Therefore, owing to the factors above, the studied market is anticipated to grow over the analysis period.