Global Disposable Insulin-Delivery Device Market Set to Reach USD 32,814 Million by 2033, Growing at a CAGR of 7.6%

Global Disposable Insulin-Delivery Device Market

The global disposable insulin-delivery device market is projected to witness robust growth over the next decade, driven by the increasing prevalence of diabetes worldwide. In 2022, the market was valued at USD 14,585.6 million, with an estimated rise to USD 15,780.6 million in 2023. By 2033, the market is expected to reach USD 32,814 million, expanding at a compound annual growth rate (CAGR) of 7.6% during the forecast period.

Key Growth Drivers:

• Rising Diabetes Cases: Diabetes continues to be one of the most prevalent chronic diseases globally, affecting millions of individuals. The demand for disposable insulin-delivery devices has surged due to the increasing need for effective diabetes management solutions.
• Health Expenditures in Emerging Economies: Countries experiencing economic growth, particularly in Asia and Latin America, are witnessing a surge in diabetes-related health expenditures. This is leading to increased demand for cost-effective and accessible insulin-delivery solutions.

Market Outlook:

Diabetes, also known as diabetes mellitus, is a metabolic disorder where the body either does not produce enough insulin or cannot effectively use the insulin it produces. As diabetes cases rise, particularly in emerging economies, the need for disposable insulin-delivery devices has skyrocketed, offering patients a more convenient and hygienic method to manage their condition.

The forecasted growth of the market underscores the rising demand for insulin pens, syringes, and other disposable devices designed for ease of use and improved patient compliance.

Pens are currently the most popular choice for insulin delivery devices, holding over 36% of the market share, compared to syringes, pumps, and jet injectors. The design and ease of use of pens have contributed to their high adoption rate. NovoPen is currently leading the market, with a memory function as an added feature.

Home care is the primary end-user of disposable insulin-delivery devices, accounting for over 45% of the market share. The cost-effectiveness of home care compared to hospital care is a major factor in this trend. Additionally, the portability of these devices adds to their convenience for home care use. Future Market Insights has conducted an in-depth analysis of the disposable insulin-delivery device market, including both micro and macro factors, in their latest market study titled ‘Disposable Insulin-Delivery Device Market.’

Key Takeaways from Disposable Insulin-Delivery Device Market

• North America controls 33% of the market. This could be linked to rising diabetes rates, viable government initiatives, and the presence of multiple disposable insulin delivery device manufacturers. According to the CDC, diabetes affects more than 37 million individuals in the United States.
• With improvements in healthcare infrastructure in numerous parts of Europe, Europe now holds 29% of the market. In 2019, more than 32 million adults in the EU were diagnosed with diabetes.
• In the Asia-Pacific region, rising diabetes awareness is one of the important drivers driving the disposable insulin-delivery device market, and this trend is likely to continue.

Key Players:

• Animas Corporation
• F. Hoffmann-La Roche AG
• Insulet Corporation
• Medtronic Plc.
• Valeritas, Inc.,
• Tandem Diabetes Care, Inc.
• Johnson & Johnson
• Beta Bionics Inc.
• Abbott Laboratories
• Becton Dickinson & Co.
• EyeSense GmbH

Competitive Landscape

• Abbott did announce a partnership with Fitterfly, Healthifyme, Zyla Health, 1MG, GOQii, PharmEasy, Sugar.fit, and BeatO in February 2022 as a move towards holistic diabetes management treatment. Abbott, through alliances, provides glucose monitoring solutions to nearly 8 million diabetic patients, 6.5 million of whom have access to 1MG and PharmEasy.
• Insulet Corp. announced in January 2022 that the US FDA had authorised the new Omnipod 5 system, ushering it into the world of AID (automated insulin delivery).
• Novo Nordisk announced the availability of two smart linked insulin pens called ‘NovoPen Echo Plus’ and ‘NovoPen 6’ in March 2022, which would be accessible on prescription for patients receiving Novo Nordisk insulin in the UK.
• Sanofi and Roche will collaborate in November 2021 to increase the usage of disposable insulin pens. Local players are also being approached in order to expand market penetration.

“A large chunk of population is contracting diabetes, which asks for disposable insulin-delivery devices”, thereby accelerating the market for the same”, says an analyst from Future Market Insights.

What does the Report have at its discretion?

• In its latest analysis, Future Market Insights provides an exclusive perspective and numerous real-time data on the disposable insulin-delivery device market, presenting historical demand assessments from 2016 to 2021 and predictions from 2022 to 2032.
• The study is divided into three sections: product type (disposable insulin-delivery pumps, disposable insulin-delivery patches, disposable insulin-delivery pens, and disposable insulin-delivery syringes), illness indication (type I and type II diabetes), and distribution channel (hospital pharmacies, retail pharmacies, online sales, and diabetes clinics).
• With an increase in the number of diabetic patients as a result of obesity, ageing, and sedentary lifestyles, the global disposable insulin-delivery device market is poised to make waves in the healthcare industry in the next years.

Want more insights:

In North America, the market is mature and dominated by established players such as Novo Nordisk and Eli Lilly. The increasing prevalence of diabetes, favorable reimbursement policies, and the availability of advanced insulin delivery technologies have been the key drivers of market growth in this region.

Key Segments Profiled in the Disposable Insulin-Delivery Device Market

Disposable Insulin-Delivery Device Market by Product Type:

• Disposable Insulin-Delivery Pumps
• Disposable Insulin-Delivery Patches
• Disposable Insulin-Delivery Pens
• Disposable Insulin-Delivery Syringes

Disposable Insulin-Delivery Device Market by Disease Indication:

• Disposable Insulin-Delivery Devices for Type I Diabetes
• Disposable Insulin-Delivery Devices for Type II Diabetes

Disposable Insulin-Delivery Device Market by Distribution Channel:

• Disposable Insulin-Delivery Devices Sales via Hospital Pharmacies
• Disposable Insulin-Delivery Devices Sales via Retail Pharmacies
• Disposable Insulin-Delivery Devices Sales via Online Sales
• Disposable Insulin-Delivery Devices Sales via Diabetes Clinics

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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