|Fastest Growing Market:||North America|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The insulin infusion pump market is set to witness a CAGR greater than 6.2% during the forecast period. The market is estimated to reach USD 4.5 billion by 2027.
The COVID-19 pandemic positively impacted the Insulin Infusion Pumps Market. The SARS-CoV-2, which causes COVID-19, has resulted in over 100 million cases of infection and more than 2 million deaths globally as of February 2021. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19, including an increased risk of severe illness or death. Type-1 diabetes patients are impacted more during COVID-19. People with diabetes have a weaker immune system, the COVID-19 complication aggravates the condition, and the immune system gets weaker very fast. People with diabetes have more chances of getting into serious complications than normal people. The manufacturers of Insulin Infusion Pumps have taken care during COVID-19 to deliver insulin delivery devices to diabetes patients with the help of local governments.
An insulin infusion pump works as an alternative to the traditional system of daily injections or an insulin pen. Insulin infusion pumps reduce the large swings in blood glucose level, lessen pain, and deliver more accurately than injections. The scheduling of meal timings is not required when using pumps. This makes infusion pumps more user-friendly for patients. Insulin therapy is also known as continuous subcutaneous insulin infusion (CSII). It is an efficient and flexible method of insulin delivery. The insulin pump has evolved and is more reliable than it was previously. CSII technology has witnessed numerous technological advancements, like the integration of continuous glucose monitoring with the pump. Now, insulin pumps can control the algorithm automatically delivering the insulin after analyzing the blood glucose reading.
According to International Diabetes Federation (IDF), the adult diabetes population in 2021 was approximately 537 million, which will increase by 643 million in 2030. Approximately 10% of the total diabetes population has Type-1 diabetes, and approximately out of this 10% of people, only 80-90% use insulin delivery devices, but the usage of insulin is rising from time to time; even Type-2 diabetes patients started 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. In 2021, Medtronic launched an Extended infusion set that leverages advanced materials that help reduce insulin preservative loss and maintains 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 infusion set occlusion. In addition to the new infusion set, the Medtronic Extended reservoir is also tested and approved to keep insulin stable and safely used for up to 7 days.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period.
Scope of the Report
An insulin pump is used to deliver insulin to achieve proper blood sugar control and minimize hypoglycemia's effects. The pump is composed of a pump reservoir similar to an insulin cartridge, a battery-operated pump, and a computer chip that allows the user to control the exact amount of insulin being delivered. The pump is attached to a thin plastic tube (an infusion set) with a soft cannula (or needle) at the end through which insulin passes. The insulin infusion pumps market is segmented by component (pump device, infusion set, and reservoir) and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and Latin America). The report offers the value (in USD million) for the above segments.
|Component (Value and Volume, 2016-2027)|
Key Market Trends
Insulin Pump is Expected to Witness Growth Over the Forecast Period
An insulin pump is a device that delivers insulin continuously or whenever required automatically. The pump mimics the human pancreas. The insulin infusion pump works as an alternative to the traditional system of daily injections or an insulin pen.
Insulin pump held a major market share in the insulin delivery devices market in 2021 and is expected to grow with a CAGR greater than 6.3% in the market during the forecast period because of the increasing technological advancement and preference over other traditional methods due to continuous insulin administration.
Insulin pump therapy is a well-established insulin administration method for type 1 diabetes (T1DM). Pumps are a validated, time-tested therapeutic option in T1DM at all ages, enabling near-physiological insulin delivery in situations where the pancreas does not produce insulin. There are even pump models with remote controls enabling parents of young children to either suspend or bolus insulin from a distance when the child is playing or eating. The insulin infusion pumps reduce the large swings in blood glucose level, induce less pain, and deliver more accurately when compared to injections. These advantages of insulin pumps over the traditional delivery system are expected to boost the market.
Continuous subcutaneous insulin infusion (CSII or insulin pumps) and continuous glucose monitoring systems (CGMs) have improved patient care and quality of life and are widely used in the ambulatory setting. Increasingly, this technology is also being used in the hospital setting.
Owing to the rising rate of obesity, growing genetic factors for type-2 diabetes, and the increasing number of Type-1 diabetes patients, it is likely that the insulin infusion pumps market will continue to grow.
To understand key trends, Download Sample Report
North America is Expected to Dominate the Insulin Infusion Pump Market
North America holds the largest market share in the insulin pumps market and is also expected to register the highest CAGR of 6.9% during the forecast period.
North America is expected to dominate the market owing to factors such as the easy availability of insulin delivery devices, high awareness among consumers, and reimbursement policies.
The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in the United States indicates the increasing usage of diabetes care products. In the United States, according to the Academy of Managed Care Pharmacy, insulin pumps cost between USD 4,500 and USD 6,500 for individuals without insurance. The price varies depending upon the pump's features, brand, and size. For example, the Accu-Chek Spirit Insulin Pump costs about USD 4,600 and includes a few features, such as software that allows readings to be downloaded to a personal digital assistant (PDA). The Minimed Paradigm 522 is more expensive, retailing at about USD 5,200, but includes more features, like continuous glucose monitoring. Some insurance plans will cover the cost of the pump. Patients with insurance can expect typical copay and coinsurance rates ranging from USD 5 to half of the pump's total cost. Despite prices, diabetes patients in the United States use insulin delivery devices more often. Although the pump and its supplies (tubing, insulin cartridges, and infusion sets) continue to be expensive, insurance coverage has improved considerably over the years.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North America Region.
To understand geography trends, Download Sample Report
The insulin infusion pumps market is consolidated due to the presence of only a few major companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold the market shares and are well known, including Medtronic PLC, Insulet Corporation, Ypsomed, Ascensia Diabetes Care, and Tandem Diabetes Care, among others.
Tandem Diabetes Care
Ascensia Diabetes Care
- In April 2022, CamDiab and Ypsomed announced the partnership to develop and commercialize an integrated automated insulin delivery (AID) system to help lessen the burden of round-the-clock diabetes management for people with diabetes in European countries. The new integrated AID system is designed to connect Abbott's FreeStyle Libre® 3 sensor, the world's smallest and most accurate continuous glucose monitoring sensor with readings every minute, to CamDiab's CamAPS FX mobile app, which connects with Ypsomed's mylife™ YpsoPump® – creating a smart, automated process to deliver insulin based on real-time glucose data. The connected, smart wearable solution is designed to continuously monitor a person's glucose levels and automatically adjust and deliver the right amount of insulin at the right time, removing the guesswork of insulin dosing.
- In April 2021, Medtronic introduced the Medtronic Extended infusion set in select European countries — the first and only infusion set that can be worn for up to 7 days. This innovation doubles the time an infusion set can 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.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Component (Value and Volume, 2016-2027)
5.1.1 Insulin Pumps
5.1.2 Infusion Sets
5.2.1 North America
184.108.40.206 United States (Value and Volume 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Canada (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Rest of North America (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
184.108.40.206 Japan (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 South Korea (Value and Volume 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 China (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
184.108.40.206 India (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Australia (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Vietnam (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
184.108.40.206 Malaysia (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Indonesia (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Philippines (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
184.108.40.206 Thailand (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Rest of Asia - Pacific (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 United Kingdom (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
184.108.40.206 France (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Germany (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Italy (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
184.108.40.206 Spain (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Russia (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Rest of Europe (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
5.2.4 Latin America
184.108.40.206 Mexico (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Brazil (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Rest of Latin America (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
5.2.5 Middle-East and Africa
184.108.40.206 Saudi Arabia (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 Iran (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Egypt (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
184.108.40.206 Oman (Value and Volume, 2016-2027)
220.127.116.11.1 By Insulin Pump Devices
18.104.22.168.2 By Infusion Sets
22.214.171.124.3 By Reservoirs
126.96.36.199 South Africa (Value and Volume, 2016-2027)
188.8.131.52.1 By Insulin Pump Devices
184.108.40.206.2 By Infusion Sets
220.127.116.11.3 By Reservoirs
18.104.22.168 Rest of Middle-East and Africa (Value and Volume, 2016-2027)
22.214.171.124.1 By Insulin Pump Devices
126.96.36.199.2 By Infusion Sets
188.8.131.52.3 By Reservoirs
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population (2016-2027)
6.2 Type-2 Diabetes Population (2016-2027)
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.2 COMPANY SHARE ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The Global Insulin Infusion Pumps Market market is studied from 2016 - 2027.
What is the growth rate of Global Insulin Infusion Pumps Market?
The Global Insulin Infusion Pumps Market is growing at a CAGR of >6.2% over the next 5 years.
What is Global Insulin Infusion Pumps Market size in 2016?
The Global Insulin Infusion Pumps Market is valued at 3 Billion USD in 2016.
What is Global Insulin Infusion Pumps Market size in 2027?
The Global Insulin Infusion Pumps Market is valued at 4 Billion USD in 2027.
Which region has highest growth rate in Global Insulin Infusion Pumps Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Insulin Infusion Pumps Market?
North America holds highest share in 2021.
Who are the key players in Global Insulin Infusion Pumps Market?
Medtronic PLC, Insulet Corporation, Tandem Diabetes Care, Ypsomed, Ascensia Diabetes Care are the major companies operating in Global Insulin Infusion Pumps Market.