Global Artificial Pancreas Systems Market By Device (Threshold Suspended Device System, CTR System, CTT System), End User (Hospitals, Clinics, Home Care, Ambulatory Center), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Artificial Pancreas Systems Market
Global artificial pancreas systems market is expected to rise to an estimated value of USD 175.98 million by 2026 registering a substantial CAGR in the forecast period of 2019-2026. This rise in the value of the market can be attributed to the rising demand of remote monitoring applications, increasing demand for home care setting devices and government initiatives in clinical research.
Market Definition: Global Artificial Pancreas Systems Market
Artificial pancreas system is a technology that consists of sensors, biomaterials, innovative delivery systems which manages the sugar level in blood, reduces type 1 diabetes related risks. The system continuously monitors the glucose level in blood and provides substitute endocrine functionality of pancreas. They perform the same function as a normal original pancreas, thereby ensuring the long and healthy life of patients.
- Rising focus on R&D activities by industry players has increased the demand for these devices in the market
- Rising incidence of patients with diabetes
- Increasing demand for advanced and automatic systems to stabilize level of glycaemia
- Increasing healthcare expenditure also drives the growth of this market
- Increasing pace of innovations and advancements due to support from various regulatory healthcare bodies
- High initial costs for installing the equipments
- Lack of knowledge and skilled professionals regarding the maintenance and operations of these devices is expected to restrain the growth of the market
- Concerns regarding certain side effects and ineffectiveness for the population suffering from athletic diabetes
Segmentation: Global Artificial Pancreas Systems Market
- Threshold Suspended Device System
- Control to Range System (CTR)
- Control to Target System (CTT)
By End User
- Home Care
- Ambulatory Center
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In January 2019, BIGFOOT BIOMEDICAL, INC. entered into a collaborative agreement with Eli Lilly and Company, to launch 2 of the most innovative and advanced artificial pancreas systems, named “Bigfoot Loop” and “Bigfoot Inject”. These two devices would be Bluetooth enabled pumps and pens, respectively, which would automatically deliver insulin to its users through a mobile phone app. With this launch, Bigfoot would integrate medical devices and AI to a whole new level, which in turn would boost the growth of this market.
- In March 2019, Medtronic developed and launched the MiniMed 670G system, a new insulin pump for those who are suffering with type 1 diabetes. This is an automated system that automatically understands and studies the user’s body, and continually controls the delivery of insulin to naturally adjust the glucose levels and avoid the occurrence of hypoglycemia and hyperglycemia. This device is the first of its kind, with a SmartGuard Technology and a glucose monitoring sensory device which automatically controls the right level of glucose according to each patient’s condition. With such developments, Medtronic is aiming to simplify the treatment for the diabetic patients ensuring healthy and quality life.
Global artificial pancreas systems market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of artificial pancreas systems market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global artificial pancreas systems market are Medtronic, Insulet Corporation, Tandem Diabetes Care, Inc., Diabeloop SA, Admetsys, Defymed, SEMMA THERAPEUTICS, Pancreum, Inc., Beta Bionics, Dexcom, Inc., BIGFOOT BIOMEDICAL, INC., amongst others.
Research Methodology: Global Artificial Pancreas Systems Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed 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 an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global artificial pancreas systems market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)