Global Insulin Patch Pumps market outlook 2024, Forecast To 2033

The insulin patch pumps market has experienced rapid growth, escalating from $1.32 billion in 2023 to $1.46 billion in 2024, with a compound annual growth rate (CAGR) of 11.0%. This expansion in the historic period is attributable to the increased prevalence of diabetes, a growing preference for non-invasive delivery methods, a rise in the geriatric population, heightened safety concerns, and advancements in miniaturization and improved form factors. Foreseeing swift growth in the next few years, the market is projected to reach $2.16 billion in 2028, reflecting a CAGR of 10.3%. The anticipated growth is linked to the increasing adoption of telehealth, a surge in pediatric diabetes cases, rising awareness about diabetes, concerns for environmental sustainability, and growing healthcare initiatives. Key trends in the forecast period encompass the incorporation of quantum computing design tools, the integration of artificial intelligence and machine learning, the adoption of digital twin simulations, advancements in custom IC design tools, and the growth in high-level synthesis tools.