Global Insulin Storage Devices Market Size, Share, Growth Analysis, By Product(Insulated Kits, Insulin Cooling Wallets), By Patient(Type 1 Diabetes, Type 2 Diabetes) - Industry Forecast 2024-2031

Global Insulin Storage Devices Market size was valued at USD 870 Million in 2022 and is poised to grow from USD 941.34 Million in 2023 to USD 1768.34 Million by 2031, at a CAGR of 8.20% during the forecast period (2024-2031). 

The market's growth is propelled by the escalating occurrence of diabetes and the increasing uptake of advanced insulin delivery devices. Furthermore, the surge in demand for sophisticated storage solutions emerges as a pivotal growth catalyst. The advent of insulin pumps has precipitated a need for enduring insulin-carrying solutions, fostering growth prospects during the forecast timeframe. Urbanization, sedentary lifestyles, and dietary shifts have contributed to a surge in obesity, a significant driver of diabetes.

Obesity, intricately linked to diabetes, is anticipated to afflict one billion individuals globally by 2030, per the World Obesity Federation. The ascent of refined and processed foods has adversely impacted consumer well-being, causing diabetes due to unhealthy dietary choices. This surge in diabetes incidence is poised to amplify the demand for insulin storage devices.

Notably, individuals with type 1 diabetes, who produce limited or no insulin, necessitate lifelong treatment and precise storage solutions. Temperature fluctuations can impair insulin efficacy, motivating the need for proper storage, especially for the young population, where over 1.52 million individuals with type 1 diabetes are under 20 years old, as per the International Diabetes Federation.

US Insulin Storage Devices Market is poised to grow at a sustainable CAGR for the next forecast year.