The insulin pump market size is projected to grow from $ 5.8 billion in 2024 to $ 13.6 billion by 2035, representing a CAGR of 8% during the forecast period till 2035.
The conventional treatment approaches for diabetes management include lifestyle changes, oral therapeutics and insulin injections; however, these approaches have certain drawbacks such as painful and inconvenient procedures that often result in poor medication adherence. As a result, advanced insulin delivery systems, particularly insulin pumps, are increasingly being adopted as a sophisticated and patient-friendly solution. These devices are small, light-weight and deliver insulin either continuously or in controlled intervals, tailored to the patient's needs.
The insulin pumps sector has several significant megatrends that shape its development and adoption, including rising popularity of patch pumps, integration with continuous glucose monitors (for automated insulin delivery), enhanced interoperability via smartphones and cloud-based systems (for data tracking and sharing with doctors / physicians), and employment of artificial intelligence and machine learning (for improved insulin dosing algorithms).
The current market landscape features the presence of over 40 insulin pumps that are currently available / under development. Most (over 85%) of the insulin pumps are currently available in the market / commercialized, demonstrating the maturity of industry and significant demand of consumers. It is worth mentioning that maximum number of the insulin pumps were launched post-2018; examples of recently launched pumps include (in alphabetical order) iLet ACE Pump (Beta Bionics, 2023), Kaleido (ViCentra, 2023) and Tandem Mobi System (Tandem Diabetes Care, 2024).
Additionally, patch pumps dominate the insulin pumps domain; these pumps directly adhere to the patients’ skin (due to the presence of an adhesive backing) and deliver insulin into the body via a small tube (inserted into the skin). Some advantages of the patch pumps include discreetness (enables easy concealment under clothes), convenience (eliminating the requirement of additional infusion set components) and improved mobility (due to the absence of external tubing).
Around 80% of the insulin pumps are automated / smart pumps; these pumps allow automatic adjustment of insulin doses (based on real-time glucose information), integration with continuous glucose monitors (to offer precise insulin management) and compatibility with diabetes management software (to enable health data sharing with caregivers). In addition, smart pumps offer smartphone connectivity in order to effectively track the medication activity of patients; these pumps are beneficial for children or elderly users. Notably, over 10% of the insulin pumps are suitable for the delivery of insulin in patients suffering from Type 1 and Type 2 diabetes.
Research Methodology
Our analysts have performed an accurate examination of the various aspects of the global market leveraging avant-garde primary and secondary sources of data collection. The report has gathered the necessary data and information from several reliable sources. Additionally, the report offers many strategic recommendations for companies involved in this ever-growing business sector to help them attain a competitive edge in the Insulin pump Market.
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