The global insulin pump market size is projected to reach USD 11.86 billion by 2028, exhibiting a CAGR of 16.0% during the forecast period. According to a report published by Fortune Business Insights, titled “Insulin Pump Market, 2022-2028”, the market’s value was USD 3.62 billion in 2020.
Insulet Expands Availability of Omnipod DASH in Europe
US-based Insulet Corporation announced the commercial availability of its much-acclaimed Omnipod DASH insulin delivery system across the Scandinavian countries Denmark, Norway, Finland, and Sweden in September 2020. Over the next few weeks, the system will be made available in Switzerland, Austria, Germany, France, and Belgium, along with Israel, according to the company’s press release. Equipped with an insulin pump, Insulet’s Omnipod is a tubeless insulin management solution that delivers medication non-stop for three days, eliminating the need for daily injections and enabling severe diabetics to independently regulate their condition.
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| North America | United States, Canada and Mexico |
| Europe | Germany, UK, France, Italy, Russia and Turkey etc. |
| Asia-Pacific | China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc. |
| South America | Brazil, Argentina, Columbia etc. |
| Middle East & Africa | Saudi Arabia, UAE, Egypt, Nigeria and South Africa |
Development of AI-powered Diabetes Management Devices to Invigorate Market Growth
Leading medical device companies are investing heavily in innovation to design and development diabetes management solutions powered by advanced technologies such as artificial intelligence (AI). For example, in June 2020, the artificial pancreas algorithm developed by DreaMed Diabetes was incorporated into Medtronic’s MiniMed 780G hybrid closed-loop insulin delivery system. DreaMed had also successfully secured approval from the US Food and Drug Administration (FDA) in September 2019 for its AI-driven insulin dosage support solution, DreaMed Advisor Pro, for people with Type 1 diabetes. Medtronic has also been expanding its AI-based insulin pump portfolio. For example, in December 2019, Medtronic acquired California-based Klue, an AI specialist whose technology Medtronic has been integrating with its Personalized Closed Loop system. Thus, the advent of AI in insulin delivery solutions has broadened the growth avenues of this market.
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