Market Size of Insulin Delivery Devices Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 39.57 Billion |
| Market Size (2029) | USD 47.17 Billion |
| CAGR (2024 - 2029) | 3.57 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Insulin Delivery Devices Market Analysis
The Insulin Delivery Devices Market size is estimated at USD 39.57 billion in 2024, and is expected to reach USD 47.17 billion by 2029, growing at a CAGR of 3.57% during the forecast period (2024-2029).
The COVID-19 pandemic substantially impacted the insulin delivery devices market. Type-1 diabetes patients are impacted more during COVID-19. People with diabetes have a weak immune system; hence, with COVID-19, the immune system gets weaker fast. People with diabetes may have more chances of serious complications than normal people. The manufacturers of insulin delivery devices have taken care during COVID-19 to deliver insulin delivery devices to diabetes patients with the help of local governments. NovoNordisk stated on their website that 'Since the start of COVID-19, our commitment to patients, our employees, and the communities where we operate has remained unchanged, we continue to supply our medicines and devices to people living with diabetes and other serious chronic diseases, safeguard the health of our employees, and take actions to support doctors and nurses as they work to defeat COVID-19.' Doctors globally suggest diabetes patients check their diabetes levels more often to be careful. The intake of medicine has increased, leading to an increased usage of insulin delivery devices.
According to International Diabetes Federation (IDF), the adult diabetes population in 2021 was approximately 537 million, and this number is expected to increase by 643 million in 2030. Approximately 10% of the total diabetes population has Type-1 diabetes, and of this 10% of people, only 80-90% use insulin delivery devices; however, the usage of insulin is rising from time to time, and even Type-2 diabetes patients are using the insulin delivery devices during COVID-19.
Technological advancements in insulin delivery devices have increased over time for safer and more accurate insulin administration. Therefore, owing to the factors mentioned above, the studied market is anticipated to witness growth over the analysis period.
