Artificial Pancreas Device System Market, APDS Sector / Industry Report & Analysis, 2024 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Artificial Pancreas Device System Market

 
The global artificial pancreas device system market size was valued at USD 89.3 million in 2016 and is expected grow at a CAGR of 20.2% during the forecast period. Increasing prevalence of diabetes, intensive R&D efforts by industry players, and rising demand for automated systems for glycemic control are the factors driving the market growth. Artificial pancreas device system controls the blood glucose level in diabetes patient and industry players are conducting numerous researches for better diabetes management.
 
For instance, Medtronic launched first hybrid closed loop system, MiniMed 670G, which has the property of self- adjustment to keep sugar level in range. Similarly, BigFoot Biomedical has an artificial pancreas device in its clinical trial phase. More than 20 research activities are currently being conducted globally with an anticipation of introducing the devices by 2017-2018.
Also, various organizations are taking initiatives to develop technologically advanced artificial pancreas device system. For instance, Juvenile Diabetes Research Foundation (JDRF) launched the Artificial Pancreas Project in 2006 to help patients of type 1 diabetes by developing commercially-viable artificial pancreas system, which would mimic the biological function of the pancreas.
Moreover, the automated systems for glycemic control include a variety of devices such as insulin pumps, artificial pancreas and insulin pens. The demand for these devices is on the rise owing to the flexibility, accurate dosage, automatic detection of glucose level, short and rapid acting insulin and convenient usage. The presence of large base of children and geriatric population within the target customer group is propelling the market.

Market Segmentation, Outlook & Viewpoint: Global Artificial Pancreas Device System Market


Device Type Market Segmentation & Outlook (Revenue, USD Million, 2013 - 2024)

Threshold suspended device system

CTR System

CTT System


Key Players, Recent Developments & Regional Insights: Global Artificial Pancreas Device System Market


Based on the type of device, the market is segmented into threshold suspended device system, CTR system, and CTT system. Threshold suspended device system held the largest share in the market in 2015. This device automatically takes actions when the patient is unable to respond to threshold suspend alarm and stops insulin delivery when the value of sensor glucose reaches low threshold.
 
CTT System is anticipated to witness fastest growth with 37.6% CAGR, during the forecast period. It is a fully automated system which minimizes patient intervention. Such factors are expected to drive the growth of the market.

Regional Insights
Europe captured the largest market share of around 43% in 2015 owing to the presence of sophisticated healthcare infrastructure, high patient awareness levels coupled with relatively higher healthcare expenditure levels. Moreover, funds provided by the government for providing a better quality of treatment is encouraging industry players and researchers to bring in new technology. For instance, AP@Home project was funded by the European Union for improving patient quality life.
Asia pacific is expected to exhibit the fastest growth during the forecast period. This region has highest number of diabetes patients owing to the lifestyle, genetic modification, urbanization and aging. Over the forecast period rising incidences of diabetes is expected to support market growth. According to an article published by NCBI, Asian countries contribute more than 60% to the world’s diabetic population, leading to the growth of the APDS market in the region. Additionally, industry players expanding their centers across the region is expected to boost the market. For instance, Johnson & Johnson launched its innovation center in Asia Pacific in 2014 to bring in technological advancement and improve treatment quality. Such factors are driving the growth of the market.
Artificial Pancreas Device System Market Share Insights
A few of the major players include Medtronic Plc, Bigfoot Biomedical, Johnson & Johnson, Tandem Diabetes Care, Inc., Pancreum, Inc., TypeZero Technologies, LLC, and Beta Bionics.
Major players implement the strategies such as mergers, acquisitions, partnership, and launching of new products to expand their market share. They are also focusing on the research & development, and a series of clinical trials of new products to remain competent in the sector.
For instance, in October 2016, Medtronic plc announced its commercial availability of its MiniMed Connect mobile accessory to the Android operating system for better and easy access to insulin pump and continuous glucose monitoring data.
Also, in July 2016, Bigfoot Biomedical started its first clinical trial for artificial pancreas. The clinical trial was conducted at three sites, Stanford University School of Medicine in coordination with Lucile Packard Children's Hospital Stanford and Stanford Children's Health in Palo Alto, CA; the William Sansum Diabetes Center in Santa Barbara, CA; and the Barbara Davis Center for Diabetes at the University Of Colorado School Of Medicine in Aurora, CO.

Key Insights Covered: Global Artificial Pancreas Device System Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Artificial Pancreas Device System industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Artificial Pancreas Device System industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Artificial Pancreas Device System industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Artificial Pancreas Device System industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Artificial Pancreas Device System industry.

Research Methodology: Global Artificial Pancreas Device System Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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