Insulin Pump Market Size, Share & COVID-19 Impact Analysis, By Product Type (Pumps (Tethered Pumps, Patch Pumps, and Others) and Consumables), By Disease Indication (Type 1 Diabetes and Type 2 Diabetes), By Distribution Channel (Hospital Pharmacy and Retail & Online Pharmacy), and Regional Forecast, 2022-2029

The global Insulin Pump Market size was valued at USD 4.01 billion in 2021. The market is projected to grow from USD 4.57 billion in 2022 to USD 13.17 billion by 2029, exhibiting a CAGR of 16.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with insulin pumps experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a slower growth of 9.7% in 2020 compared to 2019.

Insulin pumps are small, computerized devices designed and programmed to deliver pre-determined insulin doses to a diabetic person. The market for these pumps has grown and developed in recent years to cater to the rising demand for portable insulin delivery devices among the diabetic population. The major factor propelling this market is the increasing prevalence of diabetes, especially type 1 diabetes, worldwide. Moreover, the development of advanced pumps powered by smart technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), by leading medical device manufacturers has also emerged as a vital growth determinant. 

• For instance, in July 2021, Ypsomed AG expanded the range of features of the mylife YpsoPump system. This app-based integration of the Dexcom G6 Continuous Glucose Monitoring (CGM) System enables people with diabetes to continuously manage their therapy via their smartphone.

Improved sugar monitoring, continuous flow of insulin, and increasing adoption of these pumps among diabetic population are some of the benefits of these pumps over MDIs. Additionally, major market players are launching technologically advanced products to support market growth. In May 2021, F. Hoffmann-La Roche Ltd. launched mySugr Pump Control under mySugr app. mySugr Pump Control allows patients to control these pumps directly via smartphone to import and view the status of the data.

COVID-19 IMPACT

Delay in the Diagnosis and Treatment of Diabetes amid COVID-19 to Limit the Adoption of these Pumps

The impact of COVID-19 resulted in slower growth of the market during the forecast period. Factors responsible for the slower growth of the market include delay in the diagnosis and treatment of diabetes and delay in purchase of these pumps by the patients during the period.

Additionally, restrictions imposed by the governments of the different countries led to the disruption in the supply of pumps and consumables during the COVID-19 pandemic.

• For instance, according to the American Diabetes Association, people who use CGM or pumps reported 15% delayed refilling of needed supplies during the pandemic. In 2021, CGM and closed-loop pumps reported growth of 20% due to the increasing diagnosis rate & awareness about the disease.

The market players witnessed a significant decline in revenue generated during 2020. For instance, Medtronic registered a decline of -1.0% in revenues generated from its diabetes segment in 2020. In 2021, the company registered a growth of 1.9% in revenue generated from its diabetes segment.

However, the growing prevalence of diabetes globally, along with the increasing treatment & diagnosis rate of diabetes, is creating demand for new treatment options for the management of the disease. The benefits of using these pumps over multiple daily injections (MDI’s), insulin pens, and others are supporting the adoption of pumps in the global market. Thus, the increased demand for these pumps during 2021 helped companies generate more revenues.

LATEST TRENDS

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Increasing Adoption of these Pumps for Type 2 Diabetes to Augment Market Growth

Approximately 90-95% of the total diabetes population suffers from type 2 diabetes globally. Additionally, the growing diagnosis and treatment rate of type 2 diabetes creates demand for new treatment options for managing the disease. Also, the increasing insulin-dependent population of type 2 diabetic patients and the shift of patients from MDI to pain-free & alternative treatments are creating demand for these pumps.

Smart technologies, such as AI, have rapidly penetrated the healthcare IT landscape and are now making steady headway in diabetes management. Spearheading these trends in medical device companies can actively develop and introduce AI-enabled pumps and other automated drug delivery solutions for type 2 diabetes.

The increasing penetration of these pumps in the type 2 diabetic population creates demand for technologically advanced pumps. For instance, according to Medtechdive, the worldwide penetration of type 2 insulin pumps is around 5%, and this rate is projected to increase by 15% by 2027.

DRIVING FACTORS

Rising Prevalence of Diabetes Among General Population to Anticipate the Market Growth

The prevalence of diabetes is rapidly increasing in developing and developed countries. Several factors are responsible for the increasing prevalence of diabetes, including obesity, sedentary lifestyle, among others.

• According to the IDF Diabetes Atlas, in 2021, approximately 537 million adults aged 20-79 years will be living with diabetes. Also, the total number of patients suffering from diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.

Additionally, the risk of developing diabetes increases along with the increasing age. Thus, the rising geriatric population increases the prevalence of age-related disorders such as cataracts, glaucoma, hypertension, and diabetes. For instance, according to the Endocrine Society, by 2022, an estimated 33.0% of adults aged 65 years or above will have diabetes.

Also, the rising number of people suffering from type-1 diabetes globally presents a large pool of patients requiring insulin to manage the disease. The rising awareness about these pumps among diabetic patients and the benefits associated with disease management are projected to drive the Insulin Pump Market growth during the forecast period.

Recent Product Approvals along with Presence of Robust Pipeline to Accelerate the Market Growth

Increasing penetration of these pumps among the people suffering from diabetes in developing and emerging countries leads to the market players focusing on R&D of technologically advanced products and launching new products in the market. R&D has been supplemented by various clinical trials showing evidence of sustained improvement in glycemic control in type 2 diabetic patients on pump therapy compared to those on Multiple Daily Injection (MDI) therapy.

• For instance, Tandem Diabetes Care, Inc. focuses on developing delivery device solutions to meet the needs of people living with type 1 and type 2 diabetes. Mobi, t:slim X3, and Mobi: Tubeless are some of the products under the pipeline of Tandem Diabetes Care, Inc.


• Medtronic introduced a new ‘Advanced Hybrid Closed Loop’ system – the MiniMed 780G. These pumps come with salient features, including Bluetooth connectivity, automatic correction boluses, and adjustable glucose target features, and are integrated with Guardian Connect CGM, which is poised to revolutionize diabetes management.

Additionally, distinct clinical benefits offered by these pumps coupled with the new advanced features, such as smartphone connectivity, integrated CGM sensors, and other features for the effective management of diabetes, are creating the popularity of these pumps among the healthcare professionals and patients suffering from diabetes globally.

RESTRAINING FACTORS

High Cost of Insulin Pumps to Limit its Adoption

The rising prevalence of type 1 & type 2 diabetes globally and the increasing demand for easy & effective use of these pumps than the MDI are some of the factors responsible for the growth of these pumps. However, the high cost associated with the insulin pump therapy is projected to limit the market growth during the forecast period. Modern drug delivery devices, such as pumps, have disrupted traditional healthcare dynamics and have heralded the dawn of a new era in the healthcare industry.

• For instance, according to the article published by Mdedge, insulin pump therapy is considered more expensive than the daily multiple injections for patients suffering from diabetes, with a price difference of approximately 30%. Thus, the costs of pump therapy are more than the costs of daily multiple injections.

The cost of these pumps involves additional costs of consumables such as sensors, batteries, and other consumables. For instance, the annual average cost of these pumps in the U.S. is around USD 3,839.6 (OEM price), and the annual cost of consumables is around USD 1,067.0 (OEM price). The costs could also vary depending on the brand, pump size, and other parameters.

Additionally, lack of awareness about the treatment options available for the treatment of diabetes and inadequate reimbursement policies in the developing countries are some of the factors responsible for the limited adoption of these pumps in emerging countries.

Thus, the high cost of insulin pump is limiting the adoption of these pumps in the market. Also, higher out-of-pocket expenditure associated with these pumps and limited reimbursement in the developing countries have been instrumental in lower adoption of these products in the global market.

SEGMENTATION

By Product Type Analysis

Pumps Segment to Experience Dynamic Growth through 2029

On the basis of product type, the market is segmented into pumps and consumables.

The pumps segment led the market share due to the growing adoption of pumps among the diabetic population due to its benefits over multiple daily injections, continuous glucose monitors, and others. Thus, the adoption of these pumps is increasing in developed countries at a rapid rate. According to Elizabeth Gasser, Tandem’s chief strategy officer, the worldwide pump adoption among patients with type 1 diabetes increases with penetration in the U.S. and international markets, hitting about 65% and 20% by 2027, respectively.

The consumables segment is expected to grow significantly during the forecast period as the penetration of these pumps is increasing globally, leading to the increased demand for consumables. The short replacement rate of the consumables, such as infusion sets, batteries, insulin vials, compared to the pumps, relatively lower price, and easy availability of consumables are some of the factors supporting the adoption of consumables globally.  

By Disease Indication Analysis

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Type 1 Diabetes Segment to Hold Largest Market Share

On the basis of disease indication, the market is segmented into type 1 diabetes and type 2 diabetes.

The type 1 diabetes segment dominated the market during 2021 due to the growing prevalence of type 1 diabetes globally. For instance, according to the International Diabetes Federation (IDF), in 2021, globally, approximately 1.2 million children and adolescents have type 1 diabetes. Since patients with type 1 diabetes are insulin-dependent, the need for insulin pump and other consumables is comparatively higher among these patients.

The type 2 diabetes segment’s share is also expected to expand steadily throughout the forecast period due to the increasing incidence of Type 2 diabetes worldwide. Additionally, the increasing insulin-dependent population suffering from type 2 diabetes and the shift of patients from MDI’s to alternative treatment options, such as pumps, support the growth of the market.

By Distribution Channel Analysis

Increasing Demand for Insulin Pumps & Consumables through Retail and Online Pharmacies to Dominate the Market

On the basis of distribution channel, the market is segmented into hospital pharmacy and retail & online pharmacy. The retail & online pharmacy segment dominated the market with a significant share owing to the growing availability of diabetes management devices and solutions in retail and pharmaceutical outlets in developing and developed countries.

The growth of the hospital pharmacy segment is due to the fact that majority of patients prefer purchasing these devices from the pharmacies based on affiliated with hospitals. Additionally, the growing reimbursement policies for the pumps & consumables support this segment's growth.

REGIONAL INSIGHTS

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The market in North America was valued at USD 2.35 billion in 2021. The region dominated due to factors such as favorable reimbursement environment in the U.S. for these pumps. For instance, Medicare Parts A & B cover tubeless and tubed pumps, respectively, requiring the patient to pay only 20% of the cost of the pump. In addition, the presence of medical device companies, such as Tandem and Insulet, in the region will also help the growth of the market.

In Europe, the market will be primarily driven by the rising prevalence of diabetes. According to the World Health Organization (WHO), approximately 60 million people are affected by diabetes across Europe, and the condition is responsible for roughly 3.4 million deaths annually in the region. This is likely to surge the demand for these pumps and other diabetes management devices in the region.

Asia Pacific is projected to expand at a significantly high growth rate due to the rising prevalence of chronic diseases such as diabetes, primarily due to the adoption of lifestyle changes, contributing to the growth of this market. Another factor responsible for the increasing prevalence of type 2 diabetes globally is the growing geriatric population and increasing urbanization, leading to a sedentary lifestyle in the region.

• For instance, according to the Japan Times, the estimated number of people aged 65 or older in Japan is around 36.4 million, increasing 220,000 from the previous year.

The demand for advanced insulin delivery devices is increasing. This has encouraged researchers to invest more in R&D for manufacturing smart devices that can provide personalized results to the patients, thereby improving their quality of life.

The market in Latin America is growing due to increasing prevalence of diabetes, availability of these pumps & consumables, increased healthcare spending, and rising awareness about diabetes in the region

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The Middle East and Africa market will continue to expand with a considerable Insulin Pump Market share during the forecast period attributable to the lifestyle changes of people and the increasing prevalence of diabetes. For instance, according to the IDF, in 2021, in Saudi Arabia, approximately 28,900 children and adolescents aged between 0-19 years were suffering from type 1 diabetes. Additionally, in Qatar, the incidence rate of type 1 diabetes in children aged 0-14 years is 38.1 per 100,000 people per year.

KEY INDUSTRY PLAYERS

Medtronic, Leads the Market with a Strong Portfolio of Insulin Pumps and Consumables

The market is consolidated, with a few key players holding a major share of the market. Industry leader, Medtronic, holds a dominating place with a strong portfolio of pumps and consumables for the management of diabetes. Additionally, increasing product approvals by the regulatory authorities supports the company's growth. In September 2020, Medtronic announced the U.S. FDA approval of its MiniMed 770G hybrid closed loop system. This system accesses and shares real-time Continuous Glucose Monitoring and pump data and offers its benefits to younger children living with type 1 diabetes.

The other market players such as F. Hoffmann-La Roche Ltd, Tandem Diabetes Care, Inc., Insulet Corporation, and Ypsomed AG mark a strong global presence. The increasing product approvals for these pumps and strategic decisions taken by these players are supporting the growth of these companies. In June 2020, Tandem Diabetes Care, Inc. acquired Sugarmate, Inc. to develop the Sugarmat app to help people with diabetes visualize diabetes therapy data in innovative ways. This strategy helped them in broadening the product portfolio in the market.

LIST OF KEY COMPANIES PROFILED:

• Medtronic (Ireland)


• Tandem Diabetes Care, Inc. (U.S.)


• Ypsomed AG (Switzerland)


• Insulet Corporation (U.S.)


• F. Hoffmann-La Roche Ltd (Switzerland)

KEY INDUSTRY DEVELOPMENTS:

• February 2022- Tandem Diabetes Care, Inc. received the FDA clearance for its mobile bolus feature that allows t:slim X2 users to control a bolus of insulin through its t:connect mobile app using their personal smartphone.


• May 2021- F. Hoffmann-La Roche Ltd. launched mySugr Pump Control under mySugr app. mySugr Pump Control allows patients to control insulin pump directly via smartphone to import and view the status of the data.

REPORT COVERAGE

An Infographic Representation of Insulin Pump Market

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The market research report provides a detailed market analysis. It focuses on key aspects such as leading companies, disease indication, and distribution channels. Besides this, it offers insights into the market trends, impact of COVID-19, and prevalence of diabetes, among other key insights. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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