Insulin Pump Market Size

Insulin Pump Market Size

Insulin Pump Market size was valued at around USD 5.3 billion in 2023 and is expected to grow with a CAGR of 12.4% from 2024 to 2032. The high market growth can be attributed to various factors including growing awareness and education, rising prevalence of diabetes, patient preference for insulin pump therapy and technological advancements among others. Supportive government initiatives and reimbursement policies for diabetes care devices, including insulin pumps, will further stimulate market growth.

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The increasing prevalence of diabetes globally, particularly type 1 diabetes and insulin-dependent type 2 diabetes, is a significant driver. As more people are diagnosed with diabetes, there is a growing demand for advanced and effective insulin delivery systems. For example, as per the statistics reported by International Diabetes Federation, there were around 537 million people aged between 20-79 years had diabetes globally. This number is expected to reach around 783 million by 2045, an increase of 46%. Thus, presence of such high target population base will result in increased demand for insulin delivery devices including insulin pumps.
 

An insulin pump is a medical device designed to administer a continuous supply of insulin to individuals with diabetes. Worn externally, the pump delivers precise doses throughout the day, mimicking the function of a healthy pancreas. It offers improved blood glucose control and greater flexibility in insulin management compared to traditional injection methods.