A recent report published by Infinium Global Research on artificial pancreas device system market provides 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 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 smart algorithm system that automatically detect and adjust insulin delivery via a pump.
Increasing prevalence of diabetes globally is one of the major factor driving the growth of 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 global artificial pancreas device system market covers segments such as device type, treatment type, and end user. 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. On the basis of end user, the sub-markets include hospitals, research institute, and other end users.
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.
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