Report Overview

United States Insulin Delivery Devices Market - Industry Trends & Forecast Report 2028

United States Insulin Delivery Devices Market was worth USD 4.9 billion in 2021 and is projected to reach USD 9.5 billion by 2028, exhibiting a CAGR of 10.4% in the forecast period. The rapid market expansion is predominantly due to the increasing prevalence of diabetes and the rising expenditure on healthcare. Moreover, the acceptance of advanced insulin delivery devices or equipment is leading to growth in their market. Tremendous R&D activities in manufacturing different types of insulin deliverable devices are also propelling the United States Insulin Delivery Devices Market. In addition, the rise in the number of diabetics and the accessibility of technologically improved devices are driving the market expansion in United States. Diabetes affects about 29 million people in the US. Over one-third of the market for insulin delivery devices is accounted for by the North American region in terms of revenue. The market for insulin delivery devices is growing since diabetes is becoming more common in the country and affecting a larger patient base.

United States Insulin Delivery Devices Market – Overview

Insulin is a hormone that controls or regulate blood sugar levels and is extremely important in managing diabetes. People with diabetes administer an insulin dose using insulin delivery devices. It is impossible to consume Insulin as a tablet or in liquid form as, once it enters the bloodstream, it is subject to degradation by digestive enzymes and fluids. As a result, the injection or infusion frequently enters the fatty tissue. A wide variety of tools, including insulin pumps, jet injectors, and syringes, are utilized to administer Insulin to the desired place. Patients with advanced type 2 diabetes mellitus (T2DM) and all people with type 1 diabetes mellitus utilize these devices (T1DM).

United States Insulin Delivery Devices Market Forecast and Trends

Growth Drivers

Increasing prevalence of diabetes

The key factor boosting the demand for insulin delivery devices is the increased prevalence of diabetes. The prevalence of diabetes is rising alarmingly in the US. According to the CDC's National Diabetes Statistics Report for 2020, there are expected to be 34.2 million cases of diabetes worldwide. The industry is anticipated to have considerable expansion due to the growing desire for insulin delivery devices due to their dependability and patient satisfaction with the growing patient population. There is a high prevalence of diabetes due to risk factors including obesity and being overweight, strongly correlated with the rising incidence of diabetes. As a result, the market for insulin delivery devices is being driven by the enormous population with diabetes.

Rising Healthcare Expenditure

Diabetes is a progressive and chronic ailment that places a heavy financial load on the healthcare system. About 1.6 million adults, or 5.7% of the adult population in the United States, had type 1 diabetes and were receiving insulin therapy. A large number of diabetics have increased the cost of treating diabetes. The NCBI (National Center for Biotechnology Information) article states that USD 294.6 billion was spent on diabetes care in the United States in 2019. The country's adoption of cutting-edge insulin delivery methods would be prompted by the rising cost of treating diabetes resulting in the growth of the insulin delivery device market in the United States.

Technological Innovation

The increasing demand for Insulin has greatly influenced the development of various painless insulin delivery technologies, including CGM integrated insulin pumps. Syringes were initially the only insulin delivery method, seen as uncomfortable and awkward to use. As a result, businesses such as Novo Nordisk and Sanofi among others have created their own insulin pens. They have a particular dosage that is predetermined and is thought to be less uncomfortable to use as well as reduce insulin wastage. Few studies suggest that, as compared to patients using syringes, the use of pens can reduce the amount of Insulin consumed by accurately dispensing doses. The rising demand for better insulin delivery systems has aided the widespread use of recently introduced novel pen devices and portable pumps. In addition, the ongoing R&D on insulin delivery devices expected to propel market demand of insulin delivery devices during the forecast period.

Restraints

High Out-Of-Pocket Expenditure

The high out-of-pocket expenses associated with controlling and treating diabetes could limit the usage of insulin delivery systems. The U.S. government spends enormous money, but the high price of Insulin is still a problem. For instance, while the price of an insulin delivery device can cost between $30,000 and $50,000, the U.S. government's average per-person spending is only $12,530, even if the overall amount spent was more than 19% of the country's GDP. This indicates that the government has reached its limits and would struggle to meet the needs of markets, which are increasingly supported by tax dollars, without the private sector's help in reducing prices. Hence due to the cost scenario mentioned above the market is expected to impede to certain extent in upcoming years.

Impact of COVID-19 on United States Insulin Delivery Devices Market

During the first half of 2020, COVID-19 negatively affected the market growth for insulin delivery devices. In order to balance the disadvantages of hospital visits during the pandemic, government authorities, particularly U.S. federal agencies, advanced the authorization in clinical practice to allow teleconsultation. Supply chain disruption is brought by factory closures, shipping holdups, and trade restrictions or export prohibitions on life-saving medications like Insulin. In March 2020, China prohibited the shipment of life-saving medications to the United States, which resulted in a decrease in the supply of raw materials for insulin production in the United States. On the other hand, market participants Eli Lilly, Sanofi, and Novo Nordisk rejected the claims of scarcity and met consumer demands by raising production levels.

The United States Insulin Delivery Devices Market - By Product Type

Based on product type the market is divided into insulin pumps, insulin pens, insulin jet injectors, insulin syringes, and other. Due to consumer preference for insulin pens as they offer many advantages at a reasonable price, technical improvements, and other factors; the insulin pens segment expected to have a significant market share. Numerous clinical trials have validated the significant advantages that insulin pens offer over syringes. These clinical benefits include improved accuracy, usability, quality of life improvements, patient satisfaction, and adherence. The insulin delivery devices provide patients with a straightforward and effective way to administer Insulin and manage their diabetes. Thus, it is projected that the demand for insulin delivery devices for administering Insulin will increase as diabetes prevalence rises. The insulin jet injectors, insulin syringes segment also witness significant opportunity during the forecast period.

The United States Insulin Delivery Devices Market - By Application

Based on application the insulin delivery devices market is fragmented into type1 and type 2 diabetes. Amidst the segmentation type-1 diabetes segment catered the largest market share in 2021. All persons with Type 1 diabetes and many people with Type 2 require Insulin as a part of their treatment regimen. The rise in type 1 diabetes mellitus prevalence would be advantageous for the market's expansion. Patients with type 1 diabetes must have rigorous insulin therapy to survive since their bodies are unable to generate Insulin. Insulin aids in transporting blood glucose to the muscle and fat cells, which can be used as fuel. It cannot be consumed as a tablet or a beverage because the digestive system would break it down before it reaches the bloodstream, where insulin functions. In this manner, Insulin is infused or injected into the subcutaneous adipose tissue, thus driving the market for insulin delivery devices.

The United States Insulin Delivery Devices Market - By Distribution Channel

A variety of distribution channels, including online sales, hospital pharmacies, retail pharmacies, and other diabetic clinics and centers, are available to purchase insulin delivery devices. With the development of e-Commerce and new technologies, customers may now purchase insulin delivery devices online without having to go to a store or clinic, which increases the convenience of online sales of insulin delivery devices and other products. Based on distribution, a sizable share of the industry comprises hospital pharmacies and retail pharmacies. During the forecast period the E-commerce segment witness to grow at a faster pace.

Competitive Landscape

Key players operating in United States Insulin Delivery Devices Market are Becton and Dickenson, Medtronic, Insulet, Tandem, Ypsomed, Novo Nordisk, Sanofi, Eli Lilly, Roche, Wockhardt Ltd, Abbott Laboratories, Animas Corporation (U.S.), B. Braun Medical Inc. (U.S.) and other prominent players. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their products. Various tactics are used, including new product launches, commercialization, and strategic partnerships.

Recent Development

• In November 2020, InPen, a smart insulin pen from Medtronic, was introduced with real-time Guardian Connect CGM data integration. This integrated mechanism makes more informed dosing decisions simpler, providing real-time glucose readings and information on insulin doses. The company received help from this product introduction in growing sales and revenue in the market for insulin delivery devices.

• In December 2021, Tandem Diabetes state that it aims to triple its client base by the end of 2027 due to the launch of numerous new products. With an increasing number of people with type 1 diabetes, the company projects that its client base will rise by 1 million new patients over the next five years. Leigh Vosseller, the company's CEO, stated that the company anticipates exploding growth from type 1 and type 2 diabetes.

Scope of the Report

By Product Type

• Insulin Pumps
• Tubed/Tethered/External Pumps
• Tubeless Pumps (Patch Pumps)        
• Insulin Pens
• Reusable
• Disposable
• Insulin Jet Injectors
• Insulin Syringes
• Others (Insulin inhalers, Implantable Insulin)          

By Application

• Type I Diabetes
• Type II Diabetes

By Distribution Channel

• Online Sales
• Hospital Pharmacies
• Retail Pharmacies
• Other (Diabetes clinics/centers)

By End-Use

• Patients/Home Care
• Hospitals & clinics
• Others (Specialty centers)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. United States Insulin Delivery Devices Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. United States Insulin Delivery Devices Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
         1. Insulin Pumps
            1. Tubed/Tethered/External Pumps
            2. Tubeless Pumps (Patch Pumps)        
         2. Insulin Pens
            1. Reusable
            2. Disposable
         3. Insulin Jet Injectors
         4. Insulin Syringes
         5. Others (Insulin inhalers, Implantable insulin)          
      2. By Application
         1. Type I Diabetes
         2. Type II Diabetes
      3. By Distribution Channel
         1. Online Sales
         2. Hospital Pharmacies
         3. Retail Pharmacies
         4. Other (Diabetes clinics/centers)
      4. By End- Use
         1. Patients/Home Care
         2. Hospitals & clinics
         3. Others (Specialty centers)
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership.)
6. Impact of Covid-19 on United States Insulin Delivery Devices Market
7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
   1. Becton and Dickenson
   2. Medtronic
   3. Insulet
   4. Tandem
   5.  Ypsomed
   6.  Novo Nordisk
   7.  Sanofi
   8.  Eli Lilly
   9.  Roche
   10. Wockhardt Ltd
   11. Abbott Laboratories
   12. Animas Corporation (U.S.)
   13. B. Braun Medical Inc. (US)
   14. Other prominent players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List Of Figures

Figure 1        United States Insulin Delivery Devices Market Segmentation

Figure 2        United States Insulin Delivery Devices Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        United States Insulin Delivery Devices Market Size, By Value (USD Billion), 2018-2028

Figure 5        United States Insulin Delivery Devices Market Share, By Product Type, By Value, 2018-2028

Figure 6        United States Insulin Delivery Devices Market Share, By Application, By Value, 2018-2028

Figure 7        United States Insulin Delivery Devices Market Share, By Distribution Channel, By Value, 2018-2028

Figure 8        United States Insulin Delivery Devices Market Share, By End- Use, By Value, 2018-2028

List Of Tables

Table 1         United States Insulin Delivery Devices Market Size, By Product Type, By Value, 2018-2028

Table 2         United States Insulin Delivery Devices Market Size, By Application, By Value, 2018-2028

Table 3         United States Insulin Delivery Devices Market Size, By Distribution Channel, By Value, 2018-2028

Table 4         United States Insulin Delivery Devices Market Size, By End- Use, By Value, 2018-2028

Table 5         Becton and Dickenson Company Overview

Table 6         Becton and Dickenson Financial Overview

Table 7         Medtronic Company Overview

Table 8         Medtronic Financial Overview

Table 9         Insulet Company Overview

Table 10        Insulet Financial Overview

Table 11        Tandem Company Overview

Table 12        Tandem Financial Overview

Table 13        Ypsomed Company Overview

Table 14        Ypsomed Financial Overview

Table 15        Novo Nordisk Company Overview

Table 16        Novo Nordisk Financial Overview

Table 17        Sanofi Company Overview

Table 18        Sanofi Financial Overview

Table 19        Eli Lilly Company Overview

Table 20        Eli Lilly Financial Overview

Table 21        Roche Company Overview

Table 22        Roche Financial Overview

Table 23        Wockhardt Ltd Company Overview

Table 24        Wockhardt Ltd Financial Overview

Table 25        Abbott Laboratories Company Overview

Table 26        Abbott Laboratories Financial Overview

Table 27        Animas Corporation (U.S.) Company Overview

Table 28        Animas Corporation (U.S.) Financial Overview

Table 29        B. Braun Medical Inc. (US) Company Overview

Table 30        B. Braun Medical Inc. (US) Financial Overview