Insulin Pump Market Size, Share & Trends Analysis Report By Type (Patch Pumps, Tethered Pumps), By Product (Mini Med, Accu-chek), By Accessories, By End-use (Hospitals & Clinics), By Region, And Segment Forecasts, 2024 - 2030

Insulin Pump Market Size, Share & Trends Analysis Report By Type (Patch Pumps, Tethered Pumps), By Product (Mini Med, Accu-chek), By Accessories, By End-use (Hospitals & Clinics), By Region, And Segment Forecasts, 2024 - 2030

Insulin Pump Market Growth & Trends

The global insulin pump market size is expected to reach USD 10.57 billion by 2030, registering a CAGR of 8.22% from 2024 to 2030, according to a new report by Grand View Research, Inc. The key factors driving the growth of the market are the technological advancements and the adoption of pumps over traditional methods. These pumps are very convenient for people who require daily multiple injections of insulin.

Insulin pump is a machine that enables insulin to be delivered either manually or automatically. These pumps can be programmed to deliver a specific set of doses and can also deliver a larger set of doses of glucose whenever required, such as before a meal. Patients can connect these devices to their smartphones to calibrate blood glucose readings. Technological advancement and new product launches across the globe are also fueling the market during the forecast period. For instance, Medtronic’s MiniMed 670G system is the world’s first hybrid closed loop system that acts as an artificial pancreas. The system provides automated insulin delivery as per the patient’s CGM readings.

The insulin pumps market is anticipated to witness a high growth rate during the forecast period due to the continuous efforts for diabetes control by government and healthcare organizations such as the International Diabetes Federation (IDF). These organizations provide required expertise and support diabetes awareness campaigns through a network of stakeholders and partners. Also, increasing health care funding is anticipated to propel growth. Additionally, the market is expected to witness a shift from the usage of traditional tethered pumps to patch pumps driven by their compact size and ease of use.

Insulin Pump Market Report Highlights

• The tethered pumps segment led the market with the largest revenue share of 77.7% in 2023
• The Medtronic’s MiniMed insulin pumps segment contributed to the highest of sales in the market owing to high adoption rate and advancement in technology
• The insulin set insertion devices segment led the market with the largest revenue share of 41.2% in 2023. The market share is attributed to notable growth due to advancements in user-friendly designs and enhanced comfort.
• North America dominated the insulin pumps market with the largest revenue share of 45.67% in 2023. Factors such as the increasing prevalence of diabetes in the region boost adoption of insulin pumps. Furthermore, the high treatment costs, technological advancement, and product launches are also expected to drive the market in the region

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