Insulin Pump Market Report by Worldwide Market Trends & Opportunities and Forecast to 2035
Insulin pumps: bridging the gap to improve diabetes control- In recent decades, the prevalence of diabetes has risen dramatically worldwide; it is worth mentioning that diabetes affects more than 420 million people globally.
The insulin pump market size is projected to grow from $ 5.8 billion in 2024 to $ 13.6 billion by 2035, representing a CAGR of 8% during the forecast period till 2035.
Dyring our research, we identified 30 players that are engaged in manufacturing insulin pumps. The insulin pumps industry is well-fragmented, comprising of established companies and emerging enterprises competing in the market. Notably, around 20% of the companies were set up post-2012, indicating dynamic opportunities for innovation and growth in this sector.
Over 40% of the players in this domain are headquartered in North America, followed by companies headquartered in Europe and Asia-Pacific. In addition, 45% of the insulin pump manufacturers are large and very large firms.
Insulin Pump Market: Industry Trends and Global Forecasts, till 2035 - Distribution by Type of Pump (Tethered Pumps and Patch Pumps), Degree of Automation (Manual Pumps and Automated / Smart Pumps), Type of Battery (Replaceable Batteries and Rechargeable Batteries), Type of Diabetes Targeted (Type 1 Diabetes and Type 2 Diabetes), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies and Other Pharmacies) and Key Geography (North America, Europe, Asia, Latin America and, Middle East and North Africa)
Increase in the intellectual capital- an evidence for progression in R&D activity for insulin pumps- Over 1,600 patents related to insulin pumps have been filed / granted, indicating the heightened pace of innovation in this domain. Notably, around 35% of the patents were published in 2022, followed by those published in 2023 (31%). Further, most (~55%) of the patents in this domain were patent applications. Despite the large number of patents that have been filed recently (and hence having a long remaining patent life), only 1% of the total patents filed in this domain have a significantly higher relative valuation. This is primarily because of the relatively low citations of the patents that have been filed recently, leading to low patent value. It is worth mentioning that Medtronic leads in insulin pump patent filings, demonstrating its strong commitment to advancing glucose management through designing of innovative pumps.
Research Methodology
Our analysts have performed an accurate examination of the various aspects of the global market leveraging avant-garde primary and secondary sources of data collection. The report has gathered the necessary data and information from several reliable sources. Additionally, the report offers many strategic recommendations for companies involved in this ever-growing business sector to help them attain a competitive edge in the Insulin pump Market.
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