Insulin Storage Devices Market | USD 1,868.76 Million by 2034
The insulin storage devices market size was exhibited at USD 941.15 million in 2024 and is projected to hit around USD 1,868.76 million by 2034, growing at a CAGR of 7.1% during the forecast period 2024 to 2034.
| Report Coverage | Details |
| Market Size in 2025 | USD 1,007.97 Million |
| Market Size by 2034 | USD 1,868.76 Million |
| Growth Rate From 2024 to 2034 | CAGR of 7.1% |
| Base Year | 2024 |
| Forecast Period | 2024-2034 |
| Segments Covered | Device Type, Patient Type, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Covered | North America, Europe, Asia Pacific, Latin America, MEA |
| Key Companies Profiled | ReadyCare, LLC; DISIONCARE; Medicool; Tawa Outdoor; Cooluli; ARKRAY, Inc.; zzolive; Zhengzhou Defrigus Electric Device Co., Ltd.; COOL Sarl-FR; Godrej.com |
The increasing incidence of diabetes and the rising adoption of advanced insulin delivery devices are the key factors driving the market. Moreover, the rising demand for advanced storage options remains one of the major drivers of the market. The introduction of insulin pumps has increased the demand for long-term insulin-carrying solutions, which is anticipated to drive market growth in the forecast period.
With the boost in urbanization, sedentary lifestyle, and nutrition transition, there has been an increase in the obese population. According to the International Diabetes Federation (IDF), around 540 million people have diabetes, which is expected to reach 783 million by 2045. Other factors contributing to increasing cases of diabetes are the consumption of alcohol and tobacco and a high intake of refined carbohydrates.
Patients with type 1 diabetes produce little or no insulin and thus require treatment throughout their life. An appropriate storage solution is necessary for the effective preservation of insulin vials. The temperature outside the recommended range reduces the potency of insulin. According to the product labels, it is advised to store insulin in a refrigerator at temperatures ranging from approximately 36°F to 46°F, recommended by all three manufacturers in the U.S. When kept unopened and stored within this temperature range, the insulin remains potent until the expiration date indicated on the package. Moreover, rising awareness about diabetes preventive care and the effective use of insulin are also adding to the market growth. According to American Diabetes Association (ADA), 8.4 million people use insulin in the U.S.
Proper storage can help significantly reduce treatment costs by reducing drug loss. Patients need to maintain storage temperature to keep up insulin potency. Currently, the storage products are limited to insulated packages to portable refrigerators. Developing smart storage systems with specifications such as temperature alerts, expiry alerts, dose reminders, and auto messaging is expected to boost the insulin storage devices market growth during the forecast period. For instance, in September 2023, BIOCORP and SANOFI announced the end of the development of SoloSmart, an accessory that can be attached to SANOFI’s DoubleStar/SoloStar insulin pen. SoloSmart can record information about the insulin dose, time, and date of each injection and can further transmit the data to mobile applications via Bluetooth.
The battery-operated device segment accounted for the largest revenue share in 2023 and is expected to grow at the fastest CAGR during the forecast period. The dominance of battery-operated devices is attributed to the availability of a wide range of coolers and refrigerators based on patients' needs. Battery-operated coolers are becoming popular among the diabetes population owing to their portability, long battery life, and easy handling, which expand the usage of these devices during travels. For instance, DISONCARE offers its super capacity battery-powered mini fridge, with a battery of 16000 mAH; the standby time of the device is 8-10 hours.
The insulated kits segment is expected to grow by a considerable market share during the forecast period. Affordability and easy usage of insulated kits are the major factors driving the segment's growth. The segment is divided into cooling wallets, pouches, and insulated cooling bags. The cooling wallets segment is expected to dominate the market owing to its availability and popularity among geriatric patients.
The diabetes type 1 segment accounted for the largest revenue share of 83.0% in 2023. The segment's dominance is due to the rising need for insulins and the adoption of delivery and storage devices. According to the IDF Diabetes Atlas Report, out of the 8.75 million people globally living with type 1 diabetes in 2023, approximately 1.52 million individuals were under 20.
The diabetes type 2 segment is estimated to register the fastest CAGR of 8.0% over the forecast period. As type 2 diabetes is a lifestyle-associated condition, most patients belong to the adult and working population. Most of these patients prefer long-term insulin-carrying devices over frequent pharmacy visits. This is expected to boost the demand for insulin storage devices during the forecast period.
North America dominated the market and accounted for the largest revenue share of 45.7% in 2023. The region's dominance is due to a large patient pool and favorable reimbursement policies. According to a report published by the Centers for Disease Control and Prevention (CDC), more than 130 million adults live with diabetes or prediabetes in the U.S. People who have diabetes require proper storage of insulin at controlled temperatures, increasing the demand for storage devices.
Asia Pacific is expected to grow at the fastest CAGR of 8.2% during the forecast period. The region's growth is attributed to the rising prevalence of diabetes and awareness drives for the effective use and storage of insulin. Government initiatives and educational programs are also expected to propel the market growth during the forecast period. Asia accounts for almost 60% of the world's diabetes population. In recent times, Asia has undergone rapid economic development and urbanization. An increasing number of the working population suffering from diabetes is propelling the region's demand for insulin storage devices. According to the National Center for Biotechnology Information (NCBI), the prevalence of diabetes is expected to grow in Asia Pacific countries and witness a growth in the diabetes diseased population in the region which will be 60% of the total diabetes cases.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2034. For this study, Nova one advisor, Inc. has segmented the insulin storage devices market
Device Type
Patient Type
Regional
Cross-segment Market Size and Analysis for Mentioned Segments
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Additional Countries (Apart
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Country/Region-specific Report
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Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers