Europe Insulin Delivery Devices Market Size

Europe Insulin Delivery Devices Market Analysis

The Europe Insulin Delivery Devices Market size is estimated at USD 2.83 billion in 2024, and is expected to reach USD 3.12 billion by 2029, growing at a CAGR of 1.9% during the forecast period (2024-2029).

During the COVID-19 pandemic, patients with diabetes were at higher risk for hospitalizations and complications due to hyper- or hypoglycemia, metabolic comorbidities, and more severe illness from SARS-CoV-2 infection. According to an article, “Costs of COVID-19 Pandemic associated with Diabetes in Europe: A Health Care Cost Model,” published in 2021, the estimated cost per hospital admission during the first wave of COVID-19 in Europe ranged from EUR 25,018 (USD 26,744.24) for type 2 diabetes patients in good glycemic control to EUR 57,244 (USD 61,193.84) for type 1 diabetes patients in poor glycemic control, reflecting a higher risk of intensive care, ventilator support, and a longer hospital stay. The estimated cost for patients without diabetes was EUR 16,993 (USD 18,165.52). The expected total direct expenditures for COVID-19 secondary care in Europe were 13.9 billion euros (USD 14.86 billion). Diabetes treatment thus accounted for 23.5% of total expenditures.

Insulin is a hormone that controls blood sugar levels by signaling the liver mus,cle, and fat cells to take in glucose from the blood. It helps cells take in glucose to be used for energy. Type 1 diabetes is when the pancreas produces too little insulin to meet the body's requirements. Type 1 diabetes management is complex and highly individualized. People with Type 1 diabetes need synthetic insulin every day or multiple times a day to control blood sugar levels. Type 1 diabetes makes up 5 to 15% of the total diabetes population, and prevention ways have not yet been defined. Screening for type 1 diabetes is essential for an effective management strategy. Treatment for type 1 diabetes includes daily multiple injections of insulin or using an insulin delivery device.

Technological advancements in insulin delivery devices have increased for safer and more accurate insulin administration. In April 2021, Medtronic introduced the Medtronic Extended infusion set in selected European countries as the first and only infusion set that may be worn for up to 7 days. An infusion set is tubing that delivers insulin from the pump to the body and typically requires a set change every few days. This innovation doubles the time an infusion set may be worn so users can safely stay on insulin pump therapy with fewer interruptions and insertions while introducing enhanced convenience and comfort to their diabetes management routine. The set is compatible with all MiniMed 600 and 700 series insulin pumps.

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