Insulin Delivery System Market: Key Players, Developments, and Future Outlook
The global insulin delivery system market is valued at US$ 17.77 billion in 2024 and is expected to grow to US$ 19.18 billion in 2025. By 2034, the market is projected to reach approximately US$ 38.09 billion, with an impressive annual growth rate of 7.92% from 2024 to 2034. This growth will be fueled by innovations in automation, artificial intelligence (AI), and machine learning, which are set to revolutionize insulin delivery technologies and improve patient outcomes.
Download statistics of this report @ https://www.towardshealthcare.com/download-statistics/5346
Market Dynamics
Driver: Rising Number of Diabetic Patients
The global prevalence of diabetes has been steadily increasing. The World Health Organization reported 830 million diabetics in 2022, a significant rise from just 200 million in 1990. The rate of increase is particularly higher in low- and middle-income countries. Projections suggest that by 2050, the number of people living with diabetes could more than double, reaching at least 1.3 billion. Currently, around 9 million people worldwide live with type 1 diabetes, all of whom require insulin. Additionally, approximately 60 million individuals with type 2 diabetes also depend on insulin for effective blood sugar control, further driving demand for advanced insulin delivery systems.
Restraint: High Costs of Insulin Systems
Despite the growing need for insulin, the cost remains a significant barrier, particularly in low- and middle-income countries. Insulin is often less affordable and harder to access in these regions, though pricing is still a concern in wealthier nations. On a global scale, it is estimated that 37% of families with diabetic members cannot afford insulin. The affordability gap varies: in high-income countries, only about 3% of families face this challenge, while in low-income countries, the figure rises dramatically to 63%.
Opportunity: Bionic Technology in Insulin Delivery
Recent advancements in bionic technology offer a promising opportunity for the insulin delivery system market. Breakthroughs like artificial pancreas systems and advanced insulin pumps are revolutionizing diabetes management, providing patients with more precise, flexible, and convenient options. These bionic devices automate insulin delivery, allowing for personalized insulin profiles and eliminating the need for frequent injections. As research in diabetes technology continues, these innovations are set to improve the quality of life for diabetes patients, offering greater convenience and safety in managing their condition.
Top Companies in the Insulin Delivery System Market
- Novo Nordisk A/S
- Medtronic
- B. Braun SE
- Insulet Corporation
- Sanofi
- Owen Mumford Ltd.
- Eli Lilly and Company
- BD (Becton, Dickinson, and Company)
- Ypsomed AG
- Tandem Diabetes Care, Inc.
Recent Developments in the Insulin Delivery System Market
- In August 2024, Abbott and Medtronic announced a unique global partnership to work together on an integrated continuous glucose monitoring (CGM) system that will connect to Medtronic’s automated insulin delivery (AID) and smart insulin pen systems. The system will be built on Abbott’s most cutting-edge, industry-leading FreeStyle Libre technology.
- In August 2024, the U.S. Food and Drug Administration (FDA) approved the SimpleraTM continuous glucose monitor (CGM), the company’s first disposable, all-in-one CGM that is half the size of earlier Medtronic CGMs. Medtronic plc is a global pioneer in healthcare technology.
- In August 2024, as the first and only AID system FDA-approved for the management of both type 1 and type 2 diabetes, Insulet Corporation announced that its revolutionary Omnipod 5 Automated Insulin Delivery System (Omnipod 5) is now recommended for use by individuals with type 2 diabetes (those aged 18 and older) in the United States.
Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/insulin-delivery-system-market-sizing
Access exclusive insight now @ https://www.towardshealthcare.com/price/5346
We’ve prepared a service to support you. Please feel free to contact us at sales@towardshealthcare.com
Web: https://www.towardshealthcare.com
Visit Dental Specifics: https://www.towardsdental.com
Get the latest insights on industry segmentation with our Annual Membership: Get a Subscription
For Latest Update Follow Us: https://www.linkedin.com/company/towards-healthcare
