In 2019, the global market for continuous subcutaneous insulin injection was valued at USD 3.3 million. It is projected to grow at 10.3% compound annual growth rate (CAGR), between 2020 and 2027. The market for continuous subcutaneous insulin injection is driven by rising diabetes incidence and awareness of advanced insulin delivery systems. The widespread acceptance of continuous subcutaneous insulin injection (CSII) devices in diabetes care has been remarkable. The American Diabetes Association estimates that around 40% of type 1 diabetics are using insulin pump. Continuous subcutaneous insulin injection is a method of administering intensive insulin therapy. It improves glucose control. This is a subcutaneous pump that delivers rapid-acting insulin via infusion set devices. It's battery-operated and programmable. It is used primarily in type 1 diabetes to maintain strict blood glucose control.
The market for continuous subcutaneous insulin injection is growing due to factors such as rising healthcare costs and favorable reimbursement policies. The International Diabetes Federation estimates that the global total health expenditure for diabetes was USD 7620.0 billion. This figure is expected to rise to USD 845.0 billion by 2045.
The demand for subcutaneous continuous insulin infusion devices is increasing due to technological advancements such as AI and Internet of Things (IOT). The industry's major players are making great efforts to improve patient experience. The market for continuous subcutaneous insulin injection has expanded due to the increasing use of smart insulin pumps. The growth is being fueled by data analytics and artificial Intelligence in insulin pumps. Many options now exist for reading sensor data from insulin pumps, including sensors integrated insulin pumps.
In addition to increasing product launches in insulin pumps, the overall diabetes devices market is expanding its share. As a result, major players in the market for continuous subcutaneous infusion of insulin are investing in artificial pancreas development. Medtronic, for instance, launched MiniMed 670G in 2017, the first closed-loop hybrid system. Artificial intelligence's rapid growth promises to make both structured and unstructured data accessible to doctors and patients. This device harnesses a lot of data, creating more opportunities for continuous subcutaneous insulin injection.
With a market share of approximately 78.0%, the tethered pumps segment dominated in 2019, with a revenue share around 78.0%. These devices have a high market share due to their easy availability. Animas Vibe, Accu-Chek Spirit Combo and Medtronic MiniMed Pardigm Veo are some of the most popular tethered pump options. The tubing connecting the tethered pump to the cannula is called a "tethered pump". These pumps can be carried in pouches that can be worn under or outside clothing.
Due to growing adoption and increasing product launches, the patch pump segment in continuous subcutaneous insulin injection is expanding at a rapid rate. Many startups and key players are working on advanced wearable devices that monitor blood glucose. These devices can also detect the condition before it is too late. The most widely used wearable devices for calibrating and delivering blood glucose are patch pumps, which can be connected to patient-type devices. These factors have contributed to the rise in demand for continuous subcutaneous insulin injections.
Due to high insulin pump usage, type 1 patients dominated this market with an average revenue share of around 83% in 2019. To achieve the target hemoglobin level, type 1 patients should opt for continuous subcutaneous insulin injection therapy. Type 2 patients are growing at a faster rate due to factors like safety and efficacy improvements over Multiple Daily Injections (MDI). Because of their benefits such as automation, telemedicine and other perks, insulin pumps are gaining popularity. MDI requires 90+ injections per month, while continuous subcutaneous insulin injection requires 10-12 set changes per month. These factors have contributed to the rise in demand for continuous subcutaneous insulin injection.
With a 44.9% revenue share in 2019, the hospital segment dominates the market. This segment has a 44.9% revenue share in 2019. It is primarily due to an increasing number of hospitals and rising healthcare spending for diabetes treatment. The NCBI report statistics show that patients with diabetes are three times more likely to be admitted than those without. The segment is also growing due to an increasing number of diabetic patients. The International Diabetes Federation predicts that 1 in 10 people will develop diabetes by 2040. The above-mentioned factors have contributed to the expansion of the market for continuous subcutaneous insulin injection.
In the forecast period, the fastest growing segment in continuous subcutaneous insulin injection market will be the home care segment. The growing popularity of insulin pumps that can be worn on the body and awareness of self-management of blood sugar are driving home care to expand. The market for continuous subcutaneous insulin injections is growing due to increasing awareness by government agencies and the rising number of patients who need insulin daily.
North America was the dominant market, with a revenue share exceeding 46.0% in 2019. This market share can be attributed primarily to the availability major brands of insulin pumps. People with diabetes are estimated to spend an average of USD 16,750 annually in the United States. The rapid adoption of smart devices and technological advancement are also driving growth. Tandem Diabetes Care, Inc submitted in December 2019 its closed-loop controlled-IQ hybrid algorithm to FDA. This algorithm, which is compatible with the t: slim CGM system and Dexcom G6CGM system, will allow for adjustments in insulin delivery and automatic correction boluses.
The market for continuous subcutaneous insulin injections in Asia Pacific is expected to grow strongly due to favorable reimbursement policies and awareness drives. This region's high growth rate is mainly due to its large diabetic population. Additionally, there are increasing product launches in countries such as China, India, Japan. These programs and government initiatives will increase awareness about advanced insulin delivery products. Novo Nordisk Education Foundation, (NNEF), and Novo Nordisk India Pvt. Ltd. launched an awareness campaign for India in 2018. To improve the education of 1.5 million healthcare professionals, the company organized diabetes awareness events in India.
Constant subcutaneous insulin infusion remains a consolidated market. Medtronic holds a market share of over 40.0% in continuous subcutaneous insulin injection. Medtronic is constantly improving its insulin pump portfolio through technological advancements and investing heavily in R&D to invent new products. Due to technological advances, FDA approvals increasing, and the launch many innovative products by key companies and startups, the industry's competitive rivalry is expected to continue to be high over the forecast period.
In order to give their customers a competitive edge, major players engage in mergers and acquisitions, partnerships, and technological collaboration. Medtronic Plc signed an agreement in November 2018 to acquire Nutrino, a nutrition data startup. This agreement was made to improve Medtronic's diabetes management capabilities. To maintain their market share, many players in continuous subcutaneous insulin injection space are now focusing on developing insulin pump pipelines. Bigfoot Biomedical is one startup that plans to launch its closed loop insulin system. It includes an Abbott Freestyle Libre glucose reader. The market is growing because of these factors. The market for continuous subcutaneous insulin injection is dominated by the following players:
Medtronic Inc.
Tandem Diabetes Care
CeQur
F Hoffmann-La Roche
Insulet Corporation
Ypsomed
Sooil Development
Cellenovo
Valeritas Inc.
Up Market Research published a new report titled “Continuous Subcutaneous Insulin Infusion Market research report which is segmented by Product Type (Tethered, Patch), by End Use (Hospitals, Homecare, Laboratories), By Players/Companies Cellenovo, Medtronic Inc, F Hoffmann-La Roche, Valeritas Inc, Tandem Diabetes Care, Sooil Development, Ypsomed, CeQur, Insulet Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Continuous Subcutaneous Insulin Infusion Market Research Report |
By Product Type | Tethered, Patch |
By End Use | Hospitals, Homecare, Laboratories |
By Companies | Cellenovo, Medtronic Inc, F Hoffmann-La Roche, Valeritas Inc, Tandem Diabetes Care, Sooil Development, Ypsomed, CeQur, Insulet Corporation |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 200 |
Number of Tables & Figures | 140 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product Type (Tethered, Patch), by End Use (Hospitals, Homecare, Laboratories).
Continuous Subcutaneous Insulin Infusion Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Continuous Subcutaneous Insulin Infusion Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Continuous Subcutaneous Insulin Infusion Market Report:
Some other reports from this category!