Insulin patch pump market is anticipated to grow at a CAGR of 9.8% during the forecast period. The growth of the market is attributed to factors such as the rising prevalence of diabetes, and increasing healthcare expenditure. According to the International Diabetes Federation, in 2021, 537 million adults (20-79 years) are living with diabetes - 1 in 10 around the globe. This number is predicted to rise to 643 million by 2030 and 783 million by 2045. People million adults have Impaired Glucose Tolerance (IGT), which places them at high risk of type 2 diabetes. Over 3 in 4 adults with diabetes live in low- and middle-income countries. Diabetes caused at least $966 billion dollars in health expenditure, a 316% increase over the last 15 years. 

Diabetes around the Globe in 2021

Source: International Diabetes Federation

Moreover, the rising frequency of Food and Drug Administration (FDA) approvals and increasing awareness regarding advanced patch pumps are accelerating market growth. In May 2023, the US Food and Drug Administration cleared the Beta Bionics iLet ACE Pump and the iLet Dosing Decision Software for people six years of age and older with type 1 diabetes. These two devices, along with a compatible FDA-cleared integrated continuous glucose monitor (iCGM), developed a new system called the iLet Bionic Pancreas. This new automated insulin dosing (AID) system uses an algorithm to determine and command insulin delivery. 

Segmental Outlook 

The global insulin patch pumps market is segmented based on the type, and distribution channel. Based on the type, the market is sub-segmented into disposable and reusable. Further, based on distribution channels, the market is sub-segmented into hospitals, private clinics, retail pharmacies, and others. Among the distribution channels, retail pharmacies is anticipated to grow over the forecast period owing to the assisting navigate symptoms, retail pharmacies handle a variety of prescriptions and give guidance to avoid side effects and drug interactions.

Disposable Sub-Segment is Anticipated to Hold a Prominent Share in the Global Insulin Patch Pumps Market

Among the types, disposable insulin patch pumps sub-segment is anticipated to hold a considerable share of the market, owing to the growing adoption of disposable insulin patch pumps to improve quality of life, reduce diabetes-related distress, increase patient satisfaction, and increasing environment concern. Thus, the market players are entering into partnerships and collaborations for catering to the growing demand across the globe. For instance, in May 2023, Medtronic plc, entered into a set of definitive agreements to acquire EOFlow Co. Ltd., manufacturer of the EOPatch® device, a tubeless, wearable and fully disposable insulin delivery device. The addition of EOFlow, together with Medtronic's Meal Detection Technology™ algorithm and next-generation continuous glucose monitor (CGM), is expected to expand the company's ability to address the needs of more individuals with diabetes, no matter where they are in their treatment journey or preference for how they want their insulin delivered. 

Regional Outlook

The global insulin patch pumps market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the North America regional market is expected to grow considerably over the forecast period, rising adoption among type 1 diabetes patients, and increasing healthcare expenditure. 

Global Insulin Patch Pumps Market Growth, by Region 2023-2030

Asia Pacific is Expected to Grow at the fastest CAGR over the Forecast Period in the Global Insulin Patch Pumps Market 

Among all regions, Asia Pacific is expected to grow at the fastest CAGR 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 fueled the occurrence of type I and type II diabetes.  In Southeast Asia, the number of adults with diabetes is predicted to rise to 152 million by 2045, an increase of 68%. In the Western Pacific, the number of adults with diabetes is predicted to rise to 260 million by 2045, an increase of 27%. 

Prevalence of Diabetes in Asian Countries.

Source: International Diabetes Federation Atlas, 2021

In addition, increasing product launches and technological advancements in the field of insulin patch pumps are expected to aid regional growth. In October 2023, Shanghai Yiyu Technology Co., Ltd. revealed the latest generation A8 ultra-thin insulin patch pump Nano pump globally. The A8 ultra-thin insulin patch pump is the world's smallest, lightest, and thinnest catheterless patch pump. 

Market Players Outlook

The major companies serving the global insulin patch pump market include F. Hoffmann-La Roche Ltd, Medtronic plc., Terumo Corp., Tandem Diabetes Care Inc., Insulet Corp., SOOIL Developments Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2023, Medtronic plc agreed to acquisition EOFlow Co., Ltd., a company based in South Korea that makes a tubeless, disposable insulin pump on a patch. The company made a public tender offer to acquire all EOFlow’s outstanding public shares for ?971 billion ($738 million). 

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global insulin patch pumps market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.