Insulin Pumps Market By Type (Tethered Pumps, Patch Pumps, Consumables) By End-User (Hospital And Clinics, Home Care, Laboratories, And Others), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032

Key Takeaways

• Global Insulin Pump Market size was USD 5.3 Billion in 2022 and is expected to reach USD 12.0 Billion in 2032and register a revenue CAGR of 8.7% between 2023 and 2032.
• In 2022, North America accounted for the largest revenue share of around 47.3% of the global insulin pump market revenue, with the United States accounting for the majority contribution in terms of revenue and unit sales, owing to the high prevalence of diabetes, presence of developed healthcare infrastructure, and availability of favorable reimbursement policies.
• Among the end-user segments, the hospitals and clinics segment accounted for the majority revenue share of 43.4% in 2022, and the trend is expected to continue over the forecast period.
• In 2022, the homecare segment among the end-user segments accounted for the second-largest revenue share, and is expected to register a relatively rapid revenue CAGR of 10.13% during the forecast period.
• In 2022, the tethered pumps segment among the type segments accounted for the largest revenue share of 72.3%, owing to the substantially high popularity of this type among a larger user base.
• Patch pumps segment is expected to register a double-digit revenue CAGR of around 11.1% over the forecast period as according to recent surveys, patients with type 1 diabetes (T1D) prefer insulin pumps without visible insulin infusion sets for continuous subcutaneous insulin infusion therapy, and this system type suits that preference.
• As per 2021 survey data, an estimated 300,000 individuals use insulin pumps worldwide, with an estimated 63% of adults with T1D in the US and 5–15% of adults in Europe using insulin pumps.
• According to a study completed in March 2023 and published by the National Library of Medicine (NIH), over 629 million people between 20 and 79 years worldwide will have diabetes by 2045.
• Prevalence estimation of diabetes in women aged 20–79 years is slightly lower than in men (10.2% vs. 10.8%), and statistics indicate that 17.7 million more men than women were living with diabetes in 2021.

Market Overview

Insulin Pumps Market size is expected to be worth around USD 12.0 Bn by 2032 from USD 5.3 Bn in 2022, growing at a CAGR of 8.7% during the forecast period from 2023 to 2032.

Insulin pumps are medical devices designed to aid individuals with diabetes in managing their blood sugar levels effectively. These devices offer a range of functionalities and health benefits, including precise insulin delivery, improved glycemic control, and enhanced quality of life. An insulin pump continuously infuses insulin into the body, mimicking the function of a healthy pancreas.

Some key features typically include customizable dosing, the ability to account for meals and exercise, and connectivity with glucose monitoring systems for real-time data feedback. Two main types of insulin pumps available are traditional pumps with tubing, and patch pumps, which are tubeless and offer greater discretion and convenience. Both types have evolved to provide patients with more advanced and user-friendly options, contributing to better diabetes management.

Revenue growth of the global insulin pump market has been increasing substantially in the recent decade as a result of the rising prevalence of diabetes worldwide, coupled with increasing awareness about advanced diabetes management and the benefits of using such devices to improve quality of life. Technological advancements, such as integration with Continuous Glucose Monitoring (CGM) systems and user-friendly features, have also served to enhance product appeal. Also, government initiatives to improve healthcare infrastructure and enable easier access to insulin pumps have had a positive impact on revenue growth of the market. In addition, the advantages offered by newer and more advanced products, including compact designs and improved data analytics, and awareness and product visibility continue to drive steady adoption and sales.

Driving Factors

Technological Advancements

Continuous technological innovations in insulin pump technology have been a significant driver of revenue growth in the global insulin pump market. Manufacturers are developing and introducing pumps with advanced features such as closed-loop systems, which integrate with Continuous Glucose Monitoring (CGM) to automatically adjust insulin delivery based on real-time glucose levels. These advancements improve glycemic control and patient convenience, encouraging users to upgrade to newer models, and this factor is expected to continue to support the revenue growth of the market.

Integration with CGM Systems

The integration of insulin pumps with CGM systems has become a major trend in the market. This synergy provides users with a holistic diabetes management solution, allowing them to monitor glucose levels and adjust insulin delivery through a single device or app. This is also leading to an incline in adoption rates as an increasing number of diabetic individuals seek more streamlined and efficient ways to manage their condition. The integration with CGM systems is contributing positively to revenue growth.

Patient-Centric Design

Recent product developments in insulin pumps focus on enhancing the user experience through the integration of user-centric designs offering features such as touchscreen interfaces, customizable dosing profiles, alarms, and data-sharing capabilities. Such improvements not only attract new users but also prompt existing users to upgrade and seek more user-friendly and personalized solutions. Patient-centric design has become a key factor in driving market growth.

Miniaturization and Wearable Designs

Insulin pump manufacturers have been focusing on making pumps smaller and more discreet. This trend makes it easier to wear such devices and integrate them into daily life, reducing the stigma associated with wearing a medical device. Focus on further innovation in this regard is expected to support revenue over the forecast period. Miniaturization and wearable designs are contributing to the growth of the insulin pump market.

Expanding Consumer Base

The insulin pumps consumer base, comprising type 1 diabetics, type 2 diabetics, including pediatric and elderly populations, has been expanding steadily. This broadening user demographic has opened up new revenue streams, as manufacturers target various age groups and patient profiles with specialized products and services. This expansion in the consumer base is also resulting in manufacturers generating additional revenues, and the trend is supporting revenue growth of the market.

Government Initiatives and Insurance Coverage

Government initiatives aimed at improving diabetes management and patient access to advanced technologies have positively impacted market revenue. In some regions, favorable reimbursement policies and increased insurance coverage for insulin pumps have made these devices more accessible to a larger potential user base. This has led to higher adoption rates and contributed to sustained revenue growth in the global insulin pump market. Government initiatives and insurance coverage play a pivotal role in supporting market growth.

Restraining Factors

High Cost of Insulin Pump Therapy

A major factor restraining the growth of the market is the high cost associated with insulin pump therapy. Insulin pumps can be expensive, and continuous costs include, not only the device itself but components such as insulin cartridges and infusion sets. This cost can be a barrier to affordability for many patients, particularly in regions with limited healthcare coverage or high out-of-pocket expenses.

Reimbursement Challenges

In some regions, reimbursement policies for insulin pumps may be inadequate or restrictive. This can deter potential users from adopting these devices, as they may not receive adequate financial support. Insufficient reimbursement can also affect market growth by limiting the overall addressable market and constraining revenue potential.

Competition from Alternative Technologies

The global diabetes management landscape is evolving, with alternative technologies such as implantable insulin pumps, oral insulin therapies, and digital health solutions gaining prominence. These alternatives may offer the advantages of lower costs, greater convenience, or novel treatment options, thereby diverting potential customers away from traditional insulin pumps. This competition can negatively impact revenue growth and exert pressure on insulin pump manufacturers to innovate and differentiate their products.

By Type

Among the type segments, the tethered pumps segment accounted for the majority of revenue in 2022. This can be attributed to these pumps being more widely preferred and used owing to their reliability and established track record. Many patients, particularly those with type 1 diabetes, have been using tethered pumps for a long time and the familiarity and comfort associated with these devices is expected to continue to support dominance in terms of revenue.

In recent years, however, a trend toward patch pumps has been gaining traction. These tubeless insulin pumps offer greater discretion, convenience, and ease of use and are gaining popularity among users seeking a more discreet and comfortable insulin delivery solution. This indicates strongly that as technology continues to improve and more innovative patch pumps enter the market, revenue from the patch pumps segment is expected to eventually surpass that from the tethered pumps segment.

By End-User

Among the end-user segments, the home care segment accounted for the majority of revenue share in 2022 as a significantly large number of individuals with diabetes prefer to manage their condition in the comfort of their own homes. Home care settings offer convenience and the ability to integrate insulin pump therapy seamlessly into daily life, and this awareness and preference is growing.

In addition, advancements in insulin pump technology have made devices more user-friendly, thereby enabling patients and their caregivers to manage insulin therapy effectively at home. Furthermore, the COVID-19 pandemic served to accelerate the adoption of telehealth and remote monitoring, further emphasizing the importance of home care settings for diabetes management. These trends are expected to continue and support revenue growth of the home care segment over the forecast period.

Key Market Segments

By Type

• Tethered Pumps
• Patch Pumps
• Consumables

By End-User

• Hospital And Clinics
• Home Care
• Laboratories

Growth Opportunity

Expansion into Emerging Markets

Companies can capitalize on the growing prevalence of diabetes in emerging markets, particularly in Asia-Pacific, Latin America, and Africa. These regions have been registering a steady increase in the diabetic population, and awareness regarding diabetes management technologies has also been increasing in tandem as a result. Companies can tap into new revenue streams and achieve significant growth by establishing a strong presence and tailoring products to meet the specific needs of these markets.

Diversification of Product Portfolios

Companies can leverage opportunities beyond traditional insulin pumps by diversifying product portfolios to cater to different customer segments. For example, companies can develop and market specialized insulin pumps for pediatric and elderly populations, or design insulin pump systems that integrate seamlessly with other diabetes management devices, such as glucose sensors or smartphone apps. These innovations can appeal to a broader range of users and address specific patient needs, thereby creating additional revenue streams.

Telehealth and Data Services

Integration of telehealth services and data analytics can offer a lucrative revenue stream for insulin pump manufacturers, as providing remote monitoring and support services, as well as advanced data analysis tools, can enhance patient engagement and outcomes. Subscription-based models for these services can generate recurring revenue, while also improving patient adherence and loyalty. Also, companies can explore partnerships with healthcare providers and insurers to offer bundled services, further diversifying their revenue sources.

Regional Analysis

North America accounted for the largest revenue share in the global insulin pumps market in 2022 and is expected to continue to maintain dominance over other regional markets over the forecast period. Factors such as the high prevalence of diabetes, particularly in the United States, rising consumer preference for established, reliable insulin pump technologies and devices, and significantly high adoption of traditional tethered insulin pumps in countries in the region are supporting revenue growth of the North American market. Also, continuous technological advancements, such as integrated continuous glucose monitoring (CGM) systems, favorable healthcare and government initiatives, insurance coverage, and new innovations are factors expected to support revenue growth of the market in the region.

Europe is another major market for insulin pumps, with consumers preferring traditional insulin pump options owing to varying prevalence rates of diabetes across countries in the region. This also results in varying dynamics of the market in the region. Germany, the UK, and France accounted for substantially large market revenue shares respectively in 2022, and some key factors expected to continue to drive revenue growth of markets in these countries include increasing awareness and adoption of advanced insulin pump technology and investments in government healthcare systems and private sector investments in advancements and innovations in medical device technologies over the forecast period.

Asia-Pacific registered the fastest revenue growth rate among the regional markets in the global insulin pumps market in 2022, with major revenue share being accounted for by countries such as India and China. High consumer preferences towards discreet and user-friendly options, particularly favoring patch pumps, and rising investments into the modernization of healthcare infrastructure owing to improving economic conditions are key growth driving factors. Also, technological advancements, particularly in telehealth and remote monitoring, are a key factor contributing significantly to the revenue growth of the Asia Pacific market. In addition, government initiatives to combat diabetes and provide subsidies for insulin pump therapy are boosting device adoption rates, and increasing private sector investments are further expected to stimulate revenue growth of this emerging market over the forecast period.

Key Regions and Countries

North America

• United States
• Canada

Asia Pacific

• China
• India
• Japan
• Australia & New Zealand
• Association of Southeast Asian Nations (ASEAN)
• rest of Asia Pacific

Europe

• Germany
• The U.K.
• France
• Spain
• Italy
• Russia
• Poland
• BENELUX (Belgium, the Netherlands, Luxembourg)
• NORDIC (Norway, Sweden, Finland, Denmark)
• Rest of Europe

Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• United Arab Emirates
• South Africa
• Egypt
• Israel
• Rest of MEA (Middle East & Africa)

Key Players Analysis

The competitive landscape in the global insulin pump market is characterized by the presence of a number of major players competing for the majority market share. Some of the other leading companies in the market include Medtronic, Tandem Diabetes Care, Insulet Corporation, and Roche Diabetes Care. These companies employ various strategies to maintain and strengthen their positions, and some of these include product innovation, market expansion, partnerships and collaborations, Patient Support and Education, and diversification.

Leading players continuously invest in research and development to introduce innovative insulin pump technologies. This includes the development of closed-loop systems, better user interfaces, and integration with CGM systems. By offering advanced features and improved user experiences, companies aim to attract both new users and existing customers looking to upgrade their devices. A number of companies are also focusing on expanding their presence in emerging markets with rising diabetes prevalence rates, such as in Asia-Pacific and Latin America. Companies adapt their products and marketing strategies to cater to the specific needs and preferences of these regions, and one approach includes offering more affordable options and localization of customer support and education.

Also, collaboration with other healthcare stakeholders, such as hospitals, clinics, and insurance providers, is a common strategy being deployed in the market. Partnerships help increase awareness, provide easier access to insulin pumps, and enable the offering of bundled services to patients. For instance, collaborations with CGM system manufacturers can lead to integrated solutions, strengthening the market position. Patient support and education is a new approach that is gaining traction as a strategy. Leading players recognize the importance of patient education and support and offer training programs and resources to help users effectively manage their diabetes with insulin pumps. This not only enhances patient outcomes but also encourages loyalty and trust in the brand.

In addition, companies are diversifying their product portfolios to appeal to a broader range of customers. This includes offering different models of insulin pumps catering to different user preferences and needs. Diversification can help capture a larger share of the market and address specific patient segments.

Furthermore, in terms of new products, the insulin pump market continues to witness advancement, with some recent innovations being the introduction of smaller and more discreet insulin pumps, devices with longer battery life, and pumps with enhanced data connectivity for better remote monitoring. Additionally, the focus on improving the software and Artificial Intelligence (AI) algorithms that are critical in insulin delivery has been at the forefront of this market, with the aim of achieving even better glucose control and reducing the burden on users.

Top Key Players in Insulin Pumps Market

• Medtronics Inc.
• Insulet Corporation
• Tandem Diabetes Care Inc.
• Asante
• Animus Corporation
• Nipro Diagnostic Inc.
• Sooil Development Co. Ltd.
• Roche Diabetes Care, Inc.
• Abbott Laboratories
• Ypsomed AG
• Cellnovo Group SA
• Valeritas Holdings, Inc.
• Artsana S.p.A. (Chicco)

Recent Development

• On 20 June 2023, a global leader in tubeless insulin pump technology with its Omnipod brand of products - Insulet Corporation - announced the commercial launch of its Omnipod 5 Automated Insulin Delivery System (Omnipod 5) for individuals aged two years and older with type 1 diabetes (T1D) in the United Kingdom (UK). The delivery system offers simplicity despite the advanced technology and is the first CE marked tubeless hybrid closed-loop system that integrates with the Dexcom G6 Continuous Glucose Monitoring system to automatically adjust insulin delivery and help protect against high and low glucose levels.
• On April 2023, the MiniMed 780G system with the Guardian 4 sensor requiring no fingersticks while in SmartGuard technology offered by Medtronic plc secured U.S. Food and Drug Administration (FDA) approval. The system provides insulin to help account for when users occasionally forget to bolus or underestimate the number of carbs in their meals.
• In March 2023, Sanofi and Provention Bio, Inc., which is a biopharmaceutical company focused on intercepting and preventing immune-mediated diseases including type 1 diabetes (T1D), entered into an agreement under which Sanofi has agreed to acquire Provention Bio, Inc. for USD 25.00 per share in cash, representing an equity value of approximately USD 2.9 billion. The transaction adds an innovative, fully owned, first-in-class therapy in type 1 diabetes to Sanofi’s core asset portfolio in General Medicines and further drives its strategic shift toward products with a differentiated profile.
• On 23 January 2023, Tandem Diabetes Care, Inc., which is a global insulin delivery and diabetes technology company, announced the completion of its previously announced acquisition of AMF Medical SA, which is the privately held Swiss developer of the Sigi Patch Pump. The Sigi Patch Pump is designed to be an ergonomic, rechargeable patch pump that reduces the burden of managing diabetes through its use of pre-filled insulin cartridges. The device is under development and not yet commercially available.
• In March 2022, Medtronic launched the MiniMed 780G system in India, which is a next-generation closed-loop insulin pump system for the treatment of type 1 diabetes in persons aged seven to 80 years. The system automates the delivery of basal insulin and correction boluses every five minutes to diabetics to efficiently avoid highs and lows. The MiniMed 780G is part of the new Medtronic portfolio of insulin pumps with smartphone connectivity via Bluetooth technology, which allows users and their carers to view real-time glucose data and trends on compatible iOS and Android smartphones via apps.

Report Scope