Author: Vikas Kumar
13 August 2022
Global artificial pancreas device systems market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 13% during the forecast period (2021-2027). The system of devices that closely mimics the glucose regulating function of a healthy pancreas is known as the artificial pancreas device system. Most systems consist of 3 types of devices including a continuous glucose monitoring system (CGM), an insulin infusion pump, and a blood glucose device (such as a glucose meter) used to calibrate the CGM.
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The growth of artificial pancreas device systems market across the globe is witnessing growth on account of the growing prevalence of obesity, rising R&D activities by key industry players, and increasing awareness regarding automated systems for glycemic control among patients. Furthermore, favorable reimbursement policies and foreign direct investment provisions are some of the other prominent factors contributing to the growth of the market. Additionally, the growing focus of major industry players to develop new and technologically advanced artificial pancreas device systems has also positively influenced the adoption of these devices across the globe. For example, In January 2021, Medtronic’s MiniMed 780G system advanced hybrid closed-loop insulin delivery system aimed at simplifying the management of type 1 diabetes is launched in the UK for people aged 7 to 80 years.
Based on product type, the artificial pancreas device systems market is segmented into threshold suspend device systems, control-to-range systems, and control-to-target systems. The threshold suspend device systems segment accounted for a significant market share in 2020 and it is estimated to grow considerably during the forecast period. The growth of this segment can be attributed to the growing prevalence of type 1 diabetes and increasing preference for this device as it is a promising device for the treatment of hypoglycemic conditions.
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Based on end-users, the artificial pancreas device systems market is divided into hospitals & clinics, and others. The hospitals & clinics segment is anticipated to grow at a rapid rate in the upcoming years owing to the increasing preference of consumers to get treatment in hospitals mainly due to the well-established healthcare infrastructure, and large patient pool. Furthermore, the presence of several advanced devices and the availability of highly skilled healthcare professionals in hospitals are also some of the reasons why patients prefer hospitals for their treatment.
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Additionally, the report provides detailed report also provides insights into the global intraoperative neuromonitoring market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America dominated the market in 2020 owing to the well-established market players and increasing geriatric population.
Some of the major players operating in the market are Medtronic Plc, Johnson & Johnson, Tandem Diabetes Care, Inc., Insulet Corporation, F. Hoffmann-La Roche Ltd, Beta Bionics, Bigfoot Biomedical, Inc., DexCom, Inc., Admetsys Corp., Defymed, etc. Several M&A’s along with partnerships have been undertaken by these players to develop artificial pancreas device systems.
Global Artificial Pancreas Device Systems Market Segmentation
Market Insight, by Type
Market Insight, by End-Users
Market Insight, by Region
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