Insulin Patch Pumps Market

Insulin Patch Pumps Market Outlook (2022-2032)

The global insulin patch pumps market size was valued at US$ 840 Million in 2022 and is expected to accumulate a market value of US$ 932.40 Million by registering a CAGR of 11% in the forecast period 2022-2032.

Growth of the insulin patch pump industry can be attributed to the rising prevalence of diabetes, technological advancements, and increasing awareness regarding advanced patch pumps. the market for insulin patch pumps registered a CAGR of 9% in the historical period 2016-2021.

According to the International Diabetes Federation, approximately 536,600 adults were living with diabetes in 2021 and this number is expected to reach 783,700 by 2045. People with type 1 diabetes prefer insulin patch pumps as they do not need to carry an insulin infusion set.

Owing to higher convenience, the patch pumps are preferred by older and working people. The market is primarily driven by factors such as increasing diabetic population and rising awareness regarding advanced diabetes management solutions. Moreover, technological advancements and several product launches in the field of insulin patch pumps are further augmenting the growth.

Patch pumps are easy to use and more convenient than conventional insulin pumps. Usually, these pumps are connected to a continuous or blood glucose monitoring system. In addition, patch pumps are more affordable than conventional insulin pumps and are rapidly capturing a significant share in the insulin delivery market.

Key market players are using novel technologies and offering user-friendly insulin delivery solutions at lower prices. This is expected to increase the frequency of product launches during the forecast period, thus boosting the overall industry growth.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 840 Million
Expected Market Value (2022)	US$ 932.40 Million
Projected Forecast Value (2032)	US$ 2647.48 Million
Global Growth Rate (2022-2032)	11% CAGR
Expected Market Share of North America Market (2022)	40%
Expected Market Share of Asia Pacific (2022)	35%
Major Insulin patch pumps Service Providers	Medtronic plc F. Hoffmann-La Roche Ltd. Insulet Corporation CeQur Terumo Tandem Diabetes Care Medtrum Debiotech Twobiens

Sales Analysis of Insulin Patch Pumps (2017-2021) Vs. Market Forecast Outlook (2022-2032)

According to Fact.MR, the market insulin patch pumps market registered a CAGR of 8.5% in the historical period 2017-2021. The rising awareness regarding the availability of the advanced innovative pumps and its easy availability are the major factors that drives the growth of the global insulin patch pump market.

The rising investments by the market players in the research and innovation of the drug delivery devices has encouraged the development of the insulin patch pumps that primarily focuses on the convenience of the patients is fuelling the market growth.

Furthermore, the integration of smart technologies like artificial intelligence in the healthcare sector is propelling the adoption of the automated insulin patch pumps among the patients. Moreover, rising number of product approvals and various developmental strategies such as partnerships, distribution agreements, and collaborations adopted by the market players is positively influencing the growth of the global insulin patch pump market. Thus, the market for insulin patch pumps is expected to register a CAGR of 11% in the forecast period 2022-2032.

Which are Some Prominent Drivers of Insulin Patch Pumps Industry?

Technological Advancements increasing adoption of Insulin Patch Pumps

Insulin patch pumps are efficient devices as they are smaller than conventional insulin pumps, more discrete, and easier to use. Moreover, these pumps are more affordable compared to conventional ones, which eventually generates more demand. Patch pumps are attached to the skin using an adhesive layer and due to the advanced technology, they require minimum monitoring. These pumps are usually integrated with blood glucose or continuous glucose monitoring systems.

Technological advancements and the use of artificial intelligence in this field are expected to play a significant role in replacing traditional vial-syringe combinations. Increasing frequency of product launches along with collaborations between major market players and technology developers is also expected to boost the market competition. The availability of custom-made patch pumps is expected to increase the popularity of these devices during the forecast period. The discrete nature of the devices is one of the major factors increasing their adoption in the younger population.

Increasing Prevalence of diabetes augmenting demand for Insulin Pump Patches

The increasing prevalence of diabetes worldwide is expected to present lucrative opportunities for advanced diabetes management devices, including patch pumps. According to the International Diabetes Federation, the global diabetic population is expected to reach 783,700 by 2045, which includes a significant number of older people. The same source states that about 6 million Americans use insulin to help control their diabetes.

The COVID-19 pandemic has raised the risk of infection, serious consequences (such as kidney disease and ischemic heart disease), and mortality in populations with diabetes. However, one in five patients had difficulty finding blood glucose monitoring devices, and 20% had difficulty getting their insulin pumps filled on time, primarily because of financial limitations.

Furthermore, there was a disruption in the supply chain due to the closure of manufacturing sites, shipping delays or shutdowns, and trade limitations or export bans on life-saving drugs such as insulin.

What are the Challenges Faced by the Insulin Patch Pumps Market?

Lack of awareness and high cost affecting market growth for insulin patch pumps

The high cost associated with the insulin patch pumps is derailing the overall progress of the market. Owing to this, patients are opting for traditional method of insulin injection that can be carried in lesser costs. Moreover, lack of awareness of the benefits of using insulin patch pumps is another factor restraining the growth of the market. Inadequate reimbursement policies too are affecting the growth of the market.

Comparative View of Insulin Patch Pumps Markets

Insulin Patch Pumps Market :

Attributes	Insulin Patch Pumps Market
CAGR (2022-2032)	11%
Market Value (2032)	US$ 2,647.48 Million
Growth Factor	Increasing prevalence of diabetes along with changes in medication is bolstering the demand for insulin patch pumps market.
Opportunity	Technological advancements that ease the complex process of delivering insulin is creating lucrative opportunities for insulin patch pumps market.

Insulin Storage Devices Market :

Attributes	Insulin Storage Devices Market
CAGR (2022-2032)	8%
Market Value (2032)	US$ 13.34 Billion
Growth Factor	Rising worldwide prevalence of Type 1 & Type 2 diabetes is creating lucrative opportunities for non-invasive aesthetic treatment market.
Opportunity	Major market players are emphasizing on production of advanced insulin pumps. This, in turn, is expected to drive the insulin pumps market during the forecast period.

Medical Aesthetic Devices Market :

Attributes	Medical Aesthetic Devices Market
CAGR (2022-2032)	8.1%
Market Value (2032)	US$ 285 Million
Growth Factor	Rising geriatric population along with increase in blood sugar levels is bolstering the global market growth.
Opportunity	Ease of storage of insulin along with unhealthy lifestyle are boosting the demand for medical aesthetic devices.

Regional Insights

Prevalence of Diabetes Along with Healthcare Expenditure Favouring Insulin Patch Pumps Market Growth in North America?

FDA approvals strengthening use of insulin patch pumps in North America

Th strong presence of insulin patch pumps owing to the availability of major brands of insulin patch pumps. Moreover, increasing healthcare expenditure and rising frequency of FDA approvals are aiding market growth in the region. For instance, in 2019, EoFlow, a South Korean Company, received FDA approval for its newly designed patch pump-EOPatch-in the U.S.

Moreover, according to the International Diabetes Federation, the diabetic-related healthcare expenditure per person in the U.S. was about USD 8,468 in 2011, which increased to USD 11,779 in 2021, and is further expected to increase to USD 12,184 by 2045. Thus, North America is expected to possess 40% market share for insulin patch pumps in 2022.

Growth in Awareness regarding Diabetes and Increasing Obesity Influencing Patch Pumps Adoption in Asia Pacific?

Socio-Economic changes and improving healthcare expenditure bolstering growth of insulin patch pumps in Asia Pacific

Asia Pacific is expected to grow at the fastest rate over the forecast period due to factors such as the rapidly growing diabetic population and increasing awareness regarding advanced diabetes management solutions in the region.

According to the International Diabetes Federation, India and China account for the largest number of diabetes patients in the world. Most of the countries in this region are developing countries and the increase in obesity cases and growing socio-economic changes have fuelled the occurrence of type I and type II diabetes.

In addition, increasing product launches and technological advancements in the field of insulin patch pumps are expected to aid regional growth. Thus, Asia Pacific is expected to possess 40% market share for insulin patch pumps in 2022.

Country-wise Forecast CAGRs for the Insulin Patch Pumps Industry

Country	CAGR
U.S.	10%
Canada	8%
China	9.5%
India	9%

Category-Wise Insights

Flexibility of Reusable Pumps Making them Popular in the Insulin Patch Pumps Market?

Delivery of complex insulin regimen boosting the growth of reusable insulin patch pumps

Based on product type, the market is segmented into disposable and reusable patch pumps. The growth of reusable pumps can be attributed to the increased adoption of these pumps and the high frequency of product launches.

These devices are highly flexible and capable of delivering complex regimens of insulin to patients. The reusable insulin patch pump segment is expected to dominate the market in 2022 with a revenue share of over 60% and is expected to maintain its dominance over the forecast period

Disposable insulin pumps are mechanical pumps and are also called simplified devices. The majority of these types of patch pumps have some disposable parts, while others are completely disposable. Currently, V-Go by Valeritas and PAQ by CeQur dominate the market as they have a strong presence in the U.S. as well as Europe. Such patch pumps provide consistent and adjustable insulin delivery, with fewer insulin injections.

Expansion of the integrated delivery network Making Hospitals a Lucrative Option for Insulin Patch Pumps Market?

Automated insulin delivery solutions propelling growth of hospitals

The hospitals segment is expected to dominate the market in 2022 with a revenue share of over 53% owing to factors such as increasing number of specialty hospital pharmacies and the expansion of the integrated delivery network. Most first-time patch pump users tend to buy these from hospital pharmacies.

Considering the recent shift in trend from traditional to automated insulin delivery solutions, the hospital pharmacy segment is expected to witness significant growth over the forecast period. By distribution channel, the market is segmented into hospitals, retail pharmacies, private clinics, online pharmacies, and others.

The online pharmacies segment is expected to exhibit the fastest CAGR during the forecast period. The high growth rate of the segment can primarily be attributed to factors such as rising awareness regarding online pharmacies, lower costs, convenience, and increase in awareness campaigns by online pharmacies. However, purchasing insulin patches through online pharmacies may involve risks such as wrong product delivery and improper usage.

Start-Ups for Insulin Patch Pumps Market

Key start-up players in the insulin patch pumps market are Tandem Diabetes, Valeritas, CeQur, and Kaleido

• Tandem Diabetes, a key player in the Indian patch pumps market is focusing on developing insulin pumps & other products and services that bring innovation, convenience & style to diabetes management.
• CeQur, another key player in the insulin patch pumps market has developed a 3-day bolus device called CeQur Simplicity a wearable insulin patch that delivers injection-free mealtime insulin. The device is made of a cannula to deliver rapid-acting insulin under the skin.

Market Competition

Key market players are focused on adopting new technologies, introducing advanced products, taking advantage of important cooperation activities, and exploring mergers & acquisitions to offer better services to their customers and strengthen their presence in the market. Some prominent players in the global insulin patch pumps market include Medtronic plc, F. Hoffmann-La Roche Ltd., Insulet Corporation, CeQur, Terumo, Tandem Diabetes Care, Medtrum, Debiotech

• In November 2020, Terumo Corporation, a leading manufacturer of medical technology, received CE Mark for its MEDISAFE WITHTM insulin pump system.
• Tandem Diabetes Care is developing t:sport insulin pump, which will be half the size of its t:slim X2.

Key Segments Profiled in the Insulin Patch Pumps Market Industry Survey

• By Delivery Mode :

  • Basal
  • Bolus
  • Basal & Bolus

• By Product Type :

  • Disposable
  • Reusable

• By Distribution Channel :

  • Hospitals
  • Retail Pharmacies
  • Private Clinics
  • Online Pharmacies
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa