A recent report published by Infinium Global Research on the artificial pancreas device system market provides an in-depth analysis of segments
and sub-segments in the global as well as regional artificial pancreas device
system market. The study also highlights the impact of drivers, restraints, and
macro indicators on the global and regional artificial pancreas device system
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of the global artificial
pancreas device system market. According to the report, the global artificial
pancreas device system market is projected to grow at a CAGR of 15.5% over the
forecast period of 2019-2025.
Artificial pancreas device (APD) systems are externally worn
medical devices that are being developed to enable people with type 1 diabetes
to regulate their blood glucose levels in a more automated way. Pancreas in
patients suffering from diabetes does not produce enough insulin to maintain
the blood glucose level in the body. The artificial pancreas device system
works with continuous glucose monitoring (CGMs) and a smart algorithm system that
automatically detects and adjusts insulin delivery via a pump.
Increasing the prevalence of diabetes globally is one of the major factor driving the growth of the artificial pancreas device system market.
According to WHO the number of people with diabetes has risen from 108 million
in 1980 to 422 million in 2014 and the global prevalence of diabetes among
adults over 18 years of age have risen from 4.7% in 1980 to 8.5% in 2014.
Moreover, the benefit of an artificial pancreas device system over continuous
glucose monitors (CGMs) and insulin pumps to deliver continuous subcutaneous insulin
infusion (CSII) therapy such as continuous monitoring of glucose level,
hands-free and use of digital communication technology and digital
communication technology for glycemic control. On the other hand, low
effectivity of the devices in case of sportspersons can hamper the growth of
the market. However, the rising dependency of insulin for type II diabetes can
provide good opportunities for the growth of the market.
Geographically, global artificial pancreas device system
market segmented into North America, Europe, Asia-Pacific, and RoW. The market
in North America especially the U.S. dominates the global artificial pancreas
device system market availability of modern healthcare facilities, faster
market uptake of new technologies and well-established reimbursement policies
are some factors contributing to the growth of the region. Europe is
anticipated to hold the second position in the global artificial pancreas
device system market owing to raising awareness and increasing healthcare
expenditure. Asia-Pacific region is a highly potential market owing to the
large diabetic patient pool, growing healthcare expenditure and increased
research and development institutes.
The report on the global artificial pancreas device system
market covers segments such as device type, and treatment type. On
the basis of device type, the sub-markets include control-to-range (CTR)
system, threshold suspended device system, and control-to-target (CTT)
system. On the basis of treatment type, the sub-markets include bi-hormonal,
insulin only, and hybrid.
The report provides profiles of the companies in the market
such as Bigfoot Biomedical, Johnson & Johnson, Medtronic plc, TypeZero
Technologies, Semma Therapeutics, Insulet Corporation, Beta Bionics, Defymed,
Animas Corporation, Tandem Diabetes Care, and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of an artificial
pancreas device system market. Moreover, the study highlights current market
trends and provides forecast from 2019-2025. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.