Insulin Delivery Devices Industry Growth, Development and Demand Forecast to 2030

Posted by Aryan on June 29th, 2023

As per the IDF Diabetes Atlas, about 537 million adults were living with diabetes in 2021. This number is projected to rise to about 643 million in 2030. Approximately 75% of the adults who have it inhabit low- and middle-income countries. In diabetes mellitus, the pancreas either stops producing insulin (type 1) or the body’s requirement for it increases (type 2), which is why insulin is used to keep blood glucose levels in the target range. The most-common way of insulin delivery is subcutaneous injections.

With the rising prevalence of this endocrine disorder, the insulin delivery devices market was valued at ,008.0 million in 2021, which is likely to reach ,371.8 million in 2030, at a CAGR of 10.5%. The growth of the market can be credited to the scientific developments in diabetes care, the increase in the diabetic population, and a surge in cognizance of these devices. Over the years, pharma and medical device companies have engaged in extensive R&D to come up with more-convenient and effective methods for diabetes control.

There are many that can be used to distribute insulin, such as syringes, insulin pens, jet injectors, and insulin pumps. The type of device to be used can depend on the insulin regimen of a person, ability to deploy or operate a particular device, eyesight, insurance cover or ability to pay for a particular device and correlated supplies, and daily schedule. For instance, people with a lot of free time can easily use a syringe or pen, while those who have a busy lifestyle are majorly going for infusion pumps and other automated options.

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Among these, the insulin pens category is expected to grow at the fastest pace in the insulin delivery devices market in the coming years. The main reasons for this are the snowballing incidence of diabetes and the growing focus of insulin pen manufacturers on increasing their presence in the nations with a high number of diabetic patients, such as India and China. Additionally, the technological developments in pens and the medical recompense offered in developed countries are driving the growth of the market.

Elderly people and the ones with medical conditions such as diabetes, heart disease, and asthma are more susceptible to succumbing to the coronavirus. When diabetic people catch a viral infection, it is difficult to treat it because of the variations in glucose levels and the incidence of diabetes complications. There are majorly two reasons these populations are more at risk of severe COVID-19. First, the immune system becomes weak, making it difficult to fight the virus and leading to a longer recovery. Secondly, the virus can replicate faster in people with high blood glucose.

North America was the major region for the insulin delivery devices market, with around 40% of the revenue, in 2021. The regional market is expanding mainly because of the surging prevalence of diabetes and obesity, rising knowledge of people on advanced ways of diabetes management, and growing healthcare outlay. The high number of obese people is a primary reason for a large number of diabetes patients in the region. According to the Adult Obesity Facts by the CDC, the incidence of obesity was approximately 40% in the U.S. in 2018.

Hence, the increasing number of diabetes patients is the main reason for the rising demand for devices for daily insulin intake.