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Artificial Pancreas Device System Market

Artificial Pancreas Device System Market

Artificial Pancreas Device System Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

140

Base Year:

2021

Date

Feb - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1335

Segments Covered
  • By Device Threshold Suspended Device System, CTR System, CTT System
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 95.6 Million
Revenue 2028Revenue 2028: USD 415.8 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 13.1%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Europe
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Artificial Pancreas Device System Market Share

Market Synopsis:

Global Artificial Pancreas Device System market is valued at USD 95.6 Million in 2021 and is projected to attain a value of USD 415.8 Million by 2028 at a CAGR of 13.1% during the forecast period, 2022–2028. The market is being driven by factors such as rising diabetes prevalence, intense R&D activities by industry players, and rising demand for automated glycemic control systems. The blood glucose level in diabetic patients is controlled by an artificial pancreas device system, and industry participants are doing several studies to improve diabetes treatment. Furthermore, automated glycemic control technologies include insulin pumps, artificial pancreas, and insulin pens, among other devices. The flexibility, correct dosing, automatic detection of glucose level, short and rapid-acting insulin, and ease of use are all factors driving up demand for these devices.

Artificial Pancreas Device System Market Size, 2021 To 2028 (USD Million)

Increasing Prevalence of Diabetes and Geriatric Population Globally

The industry's expansion will be fueled by the world's ageing and overweight population. According to the World Health Organization, the global population of people aged 60 and more will increase from 12% in 2015 to roughly 22% in 2050. With increasing age, muscle strength and physical labor capacities deteriorate. The Artificial Pancreas Device System market will continue to grow as more medical devices are used to support and actuate body movement.

Technical Failure and Side Effects of Artificial Pancreas Device Systems

Following an unexpected insulin overdose by a diabetes patient while using the DIY APS in May 2019, the US Food and Drug Administration issued a warning to Do-it-Yourself Artificial Pancreas Systems (DIY APS). Such technological problems may have an impact on the DIY APS adoption rate, stifling market growth over the projection period.

Market Segmentation:

The Global Artificial Pancreas Device System market is segmented by Device into Threshold suspended device system, CTR System and CTT System. Based on Region, the Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Below tree is interactive. You can click the nodes to get more information.

Asia Pacific is Expected to Experience a Rapid Growth

During the projected period, Asia Pacific is expected to grow at the fastest rate. Because of their lifestyle, genetic alteration, urbanisation, and ageing, this region has the largest number of diabetes sufferers. Diabetes incidences are predicted to rise throughout the forecast period, boosting market growth. According to a study published by NCBI, Asian countries account for more than 60% of the world's diabetes population, fueling the region's APDS market expansion. Furthermore, the market is likely to be boosted by industry players establishing their centres across the region.

Key Players:

Key players operating in the global Artificial Pancreas Device System market include Medtronic Plc., Medtrum Technologies Inc., Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Inc., Bigfoot Biomedical, Insulet Corporation, Pancreum, Inc., TypeZero Technologies, Inc., DreaMed Diabetes Ltd, and Inreda Diabetic BV.

The Artificial Pancreas Device System market is segmented as follows:

Parameter Details
Segments Covered
  • Device (Threshold Suspended Device System, CTR System, CTT System)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Medtronic Plc.
  • Medtrum Technologies Inc.
  • Tandem Diabetes Care Inc.
  • Johnson & Johnson
  • Beta Bionics Inc.
  • Bigfoot Biomedical
  • Insulet Corporation
  • Pancreum Inc.
  • TypeZero Technologies Inc.
  • DreaMed Diabetes Ltd
  • and Inreda Diabetic BV.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Artificial Pancreas Device System Market is tabulated as follows:

Artificial Pancreas Device System Market Projected to rise USD 415.8 Million by 2028
The Artificial Pancreas Device System Market is expected to rise USD 415.8 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 13.1% from 2022 to 2028. Increasing geriatric population and rising diabetic patients are factors that propelling the growth of Artificial Pancreas Device Sy...
FAQ
Frequently Asked Question
  • The global Artificial Pancreas Device System valued at USD 95.6 Million in 2020 and is expected to reach USD 415.8 Million in 2028 growing at a CAGR of 13.1%.

  • The prominent players in the market are Medtronic Plc., Medtrum Technologies Inc., Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Inc., Bigfoot Biomedical, Insulet Corporation, Pancreum, Inc., TypeZero Technologies, Inc., DreaMed Diabetes Ltd, and Inreda Diabetic BV..

  • The market is project to grow at a CAGR of 13.1% between 2021 and 2028.

  • The driving factors of the Artificial Pancreas Device System include

    • Increasing Prevalence of Diabetes and Geriatric Population Globally

  • Europe was the leading regional segment of the Artificial Pancreas Device System in 2020.