Diabetes Management: Insulin Pumps Market

Despite the negative impact of COVID-19 on most medical device markets, the multi-billion dollar automated insulin pumps market for diabetes—which includes insulin pumps and disposable pump supplies and accessories—is thriving and is expected to increase at a healthy CAGR of 10.4%, from nearly $3.1bn in 2019 to an estimated $5.1bn in 2024.

The global insulin pumps market is technologically innovative, lucrative, and growing. The market is being driven by several positive factors, including: the increasing global prevalence of diabetes, the need to reduce patient burden, stress, and insulin dosing errors, replace frequent and painful fingersticks and continuously monitor blood glucose, and improve glycemic control. The rise of popularity of easy-to-use, discreetly worn “pod/patch” based insulin delivery systems (such as the Omnipod) and more sophisticated, “intelligent” continuous glucose monitoring (CGM) sensor-integrated, automated hybrid closed-loop insulin pump systems (eg MiniMed, t:slim X2) stems from the ability to substantially lower diabetes complications, improve clinical outcomes, provide patients more freedom, and substantially lower diabetes-related complications and healthcare costs. Automated insulin delivery devices can replace frequent painful fingersticks and manual multiple daily insulin injections (MDI) in an underpenetrated but large and growing diabetes population, improving quality of life.

The insulin pumps market is highly competitive, and manufacturers are in a race to capture market share. Competitors are offering easier-to-use, miniaturized, streamlined, artificial intelligence (AI)-driven Bluetooth wireless/smartphone-based devices that allow instant alerts and sharing of real-time data with caregivers. These devices integrate more accurate, longer-wear CGM sensors and other innovative features that can better predict and prevent glycemic events by factoring in numerous patient diet/lifestyle variables, lower potentially dangerous manual bolus dosing errors, and stabilize blood sugar levels for long-term glycemic control. Overall, these next-generation systems are becoming closer to autonomously “closed-loop” systems that are more similar to the natural and miraculous function of the human pancreas.

Key competitors in the insulin pumps market include:  Medtronic, Insulet Corporation, Tandem Diabetes Care, Ypsomed, and a handful of smaller innovative startups such as Beta Bionics, Diabeloop, Bigfoot Biomedical, and others.

This comprehensive medical market and technology report provides:

• overview of type 1 and type 2 diabetes and prevalence
• automated insulin pump/pod/patch-based insulin delivery technologies
• portfolios and competitive advantages/features
• emerging technologies/pipelines and innovations
• in-depth market and competitive analyses (market drivers/limiters, 5-year market forecasts by segment and region, global/regional market share)
• overview of companies, financials, and strategic growth plans

Markets covered by this analysis include the US, Japan, the five major European markets (France, Germany, Italy, Spain, and the UK), and the Rest of World (RoW) markets, which includes all other countries. Market forecasts are for the 2019-24 time period.