Insulin Pump Market Size, Share, Growth, Trends, and Industry 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 Region

Insulin Pump Market size was valued at 1,700 million in 2023 and is poised to grow at a CAGR of 3.5% from 2024-2030. An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy. The major driving factors for this market include the rising prevalence of diabetes, technological advancements, and improved patient outcomes. According to its estimates, IDF reports a very high and increasing global prevalence of diabetes, in 2021, around 10.5% of the adult population of the age group 20-79 years was reported to be suffering from diabetes. That would amount to approximately 537 million adults in the world, and by 2045 there would be 783 million adults affected with diabetes, which is almost every 1 in 8 adults.

This is driven by factors such as urbanization, aging of the population, decreased levels of physical activity, and rising overweight and obesity rates. This changing prevalence ratio coincides with a growing demand for effective management tools such as pumps. Individuals with Type 1 diabetes are in special need of substitute insulin administration to keep glucose levels at normal values. Because pumps are more convenient and a more effective way of taking insulin, they have become very popular with this patient population. However, constraints such as competition from other insulin delivery devices, high cost, and limited insurance coverage and these constraints are overcome by product innovation, expanding market segments, and expansion in emerging markets. Some current trends in the insulin pump market are increasing demand for integration with digital health and a focus on patient experience.

Insulin Pump Market Key Developments:

• In February 2024, Tandem Diabetes Care, Inc. introduced Tandem Mobi- a small and powerful automated insulin delivery system in the U.S.
• In March 2022, Medtronic introduced a new 'Advanced Hybrid Closed Loop' system - the MiniMed 780G. These pumps possess several notable features like Bluetooth connectivity, smart bolus adjustments on their own, glucose target changeable, and are embedded with Guardian Connect CGM technology, which will mark a new beginning for diabetes treatment.