Smart Insulin Pens & Pumps Market To Reach $12.21 Billion By 2030

Smart Insulin Pens & Pumps Market Growth & Trends

The global smart insulin pens and pumps market size is expected to reach USD 12.21 billion by 2030, registering around 8.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Major market drivers include continuous technological advancements in the field of diabetes care along with growing adoption of advanced diabetes management methods. The rising geriatric population coupled with the increasing incidence of diabetes as lifestyle associated disease are the factors expected to drive the product demand. Self-injection devices with integrated connectivity have become an important element of the digital ecosystem.

Smart insulin pens and pumps have created new standards for diabetes care. With the advent of Artificial Intelligence (AI), the entire paradigm of diabetes management has been transformed from simple Bluetooth enabled insulin delivery devices to an artificial pancreas. Furthermore, increasing investment and rising number of new product launches are expected to widen growth opportunities. For Instance, in July 2017, Cellnovo a French medtech company announced to raise USD 19.27 million to improve its product and to continue the R&D in artificial pancreas system. Many key players are focusing on technological collaborations, which is expected to have a long-term positive impact on the market. For instance, in September 2019, Medtronic collaborated with Novo Nordisk to integrate Novo future smart insulin pen dosage data with Medtronic CGM devices.

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Smart Insulin Pens & Pumps Market Report Highlights

• Smart insulin pumps accounted for the largest market revenue share of 58.6% in 2023. Insulin pumps offer a highly precise mode of insulin delivery by administering a constant flow of the hormone, enabling better glucose control compared to traditional insulin pens.

• Hospitals and clinics accounted for the largest market revenue share of 48.3% in 2023. These healthcare facilities serve as primary healthcare delivery centers, thus managing a significant population of diabetic patients requiring insulin therapy.

• Europe led the market with a revenue share of 31.9% in 2023. Europe possesses a well-developed healthcare infrastructure with significant investments in research and development activities.

Smart Insulin Pens & Pumps Market Segmentation

Grand View Research has segmented the global smart insulin pens and pumps market on the basis of type, end use, and region:

Smart Insulin Pens & Pumps Type Outlook (Revenue, USD Million, 2018 - 2030)

• Smart Insulin Pens         

  • Companion Medical (InPen)

  • Novo Nordisk (NovoPen 6 & NovoPen Echo)

  • Emperra Gmbh (ESYSTA Pen)

  • pendiq intelligent diabetes care (pendiq 2.0)

  • Others

• Smart Insulin Pumps     

  • MiniMed (630G and 670G)

  • Accu-Chek (Combo and Insight)

  • Tandem (t:slim X2, t:slim G4)

  • Insulet (Omnipod)

  • myLife Omnipod

  • Others

Smart Insulin Pens & Pumps End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals and Clinics

• Homecare

• Others

Smart Insulin Pens & Pumps Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • India

  • China

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Smart Insulin Pens & Pumps Market

• Novo Nordisk A/S

• Sanofi

• Insulet Corporation

• Medtronic

• Abbott

• Lilly

• F. Hoffmann-La Roche Ltd

• Emperra GmbH E-Health Technologies

• YPSOMED

• Tandem Diabetes Care, Inc.

• Cambridge Consultants

• pendiq

• SOOIL Developments Co., Ltd

• DUKADA

• delfu-medical.com