Artificial Pancreas Device System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Artificial Pancreas Device System Market Analysis
The Artificial Pancreas Device System market studied is expected to grow with an anticipated CAGR of 18.2%, during the forecast period.
The COVID-19 pandemic negatively affected the treatment and diagnostics procedures other than COVID-19 which had a significant impact on the studied market as it not only affected diagnostic and treatment procedures but also research and development activities in the area. For instance, In June 2020, The World Health Organization survey, which was completed by 155 countries over a 3-week period in May, stated that treatment and diagnosis for chronic diseases like diabetes were affected by COVID-19. It also stated that 49% of the countries surveyed had partially or completely disrupted services for treatment for diabetes and diabetes-related complications. Therefore, COVID-19 had an adverse impact on the studied market.
In addition, the increasing prevalence of diabetes, technological advancements, increasing research and development activities by key players, and increasing demand for automated systems for glycemic control are actively affecting the growth of the studied market.
As per the International Diabetes Federation, Diabetes Atlas 10th edition, 2021 report, the number of adults (20-79 years) with diabetes was 536.6 million in 2021 and it is predicted to reach 783.2 million by 2045. The prevalence of diabetes worldwide was 10.5% in 2021 and is projected to be 12.2% in 2045. As per the same report, the number of prevalent cases of type 1 diabetes in children and adolescents (0-19 years) was 1,211,900, and the number of new cases in the same age group was 149,500 in 2021. Thus, considering the mentioned facts and key drivers, the artificial pancreas device system market is anticipated to propel over the forecast period. As the artificial pancreas is mainly used to help people with type 1 diabetes. The high burden of diabetes is expected to augment the studied market.
Additionally, the advancements in technology and increasing product approvals, along with partnerships and collaborations by key players are helping in the market growth. For instance, in September 2020, the MiniMed 770G hybrid closed loop system from Medtronic plc was approved by the United States Food and Drug Administration (FDA). The MiniMed 670G system, offers modern SmartGuard technology, with the advantages of smartphone connectivity and a broader age indication down to the age of two. These developments are likely to augment the market growth.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. however, the high cost of the device systems and safety concern is likely to impede the market growth.
Artificial Pancreas Device System Market Trends
This section covers the major market trends shaping the Artificial Pancreas Device System Market according to our research experts:
The Threshold Suspended Device System is Expected to Witness Growth Over the Forecast Period
The threshold suspended device system helps reverse a dangerous drop in blood glucose level (hypoglycemia) or reduce its severity by temporarily suspending insulin delivery when the glucose level falls to or approaches a low glucose threshold. These are also referred to as low glucose suspend systems. The regulation of glucose in patients with diabetes is of utmost importance for an improved health outcome. Hence, the threshold suspended device systems play a vital role in managing hypoglycemia.
The innovations in the products, increasing product approvals, along with partnerships and collaborations by key players are helping in the market growth. For instance, in June 2020, Tandem Diatetes Care, Inc., received United States Food and Drug Administration (FDA) approval for an expanded pediatric indication for the t:slim X2 insulin pump with Control-IQ technology for children age six and older. Control-IQ technology was intended for use with a compatible integrated continuous glucose monitor to automatically increase, decrease, and suspend basal insulin delivery based on iCGM readings and predicted glucose values. Hence, in view of the advantages offered by these devices, the threshold suspended device systems segment is expected to grow significantly over the forecast period.
North America is Expected to Dominate The Artificial Pancreas Device System Market Over The Forecast period
North America is expected to dominate the market owing to factors such as the rising prevalence of diabetes, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the region.
As per International Diabetes Federation, Diabetes Atlas 10th edition, 2021 report, the number of adults (20-79 years) with diabetes was 32.2 million in 2021 and it is predicted to reach 36.3 million by 2045 in the United States of America. America is predicted to be in 4th position among the top 10 countries or territories with diabetes in 2021 and 2045. As per the same report, the number of adults with diabetes in Mexico was 14.1 million in 2021 and is predicted to reach 21.2 million by 2045.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
Artificial Pancreas Device System Industry Overview
The artificial pancreas device system market is fragmented in nature due to the presence of a few companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. The major players are Medtronic plc, Johnson & Johnson, Tandem Diabetes Care, Inc., Pancreum, Inc., Beta Bionics, Inc., DexCom, Inc., Insulet Corporation, Defymed, Admetsys Corporation, and Bigfoot Biomedical, Inc among others.
Artificial Pancreas Device System Market Leaders
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Medtronic plc
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Tandem Diabetes Care, Inc
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Dexcom, Inc.
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Insulet Corporation
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Defymed
*Disclaimer: Major Players sorted in no particular order
Artificial Pancreas Device System Market News
- In April 2022, Beta Bionics, Inc., a medical technology company dedicated to the design, development, and commercialization of the iLet Bionic Pancreas presented positive results from the multi-center randomized Insulin-Only Bionic Pancreas Pivotal Trial (IO BPPT) at the International Conference on Advanced Technologies & Treatments for Diabetes (ATTD).
- In March 2022, Medtronic launched MiniMed 780G, next-generation closed-loop insulin pump system in India.
Artificial Pancreas Device System Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Diabetes
- 4.2.2 Technological Advancements and Increasing R&D activities by Key Players
- 4.2.3 Increasing Demand for Automated Systems for Glycemic Control
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4.3 Market Restraints
- 4.3.1 High Cost of the Device Systems and Safety Concern
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Device Type
- 5.1.1 Threshold Suspended Device System
- 5.1.2 Control To Range (CTR) System
- 5.1.3 Control to Target (CTT) System
-
5.2 By End User
- 5.2.1 Hospitals and Clinics
- 5.2.2 Others
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Medtronic PLC
- 6.1.2 Johnson & Johnson
- 6.1.3 Tandem Diabetes Care,Inc.
- 6.1.4 Pancreum, Inc
- 6.1.5 Bigfoot Biomedical, Inc
- 6.1.6 DexCom, Inc.
- 6.1.7 Beta Bionics, Inc.
- 6.1.8 Admetsys Corp.
- 6.1.9 Insulet Corporation
- 6.1.10 Defymed
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityArtificial Pancreas Device System Industry Segmentation
As per the scope of the report, an artificial pancreas device system is a medical device that links a glucose monitor to an insulin infusion pump where the pump automatically takes action (using a control algorithm) based on the glucose monitor reading. The Artificial Pancreas Device System (APDS) market is segmented by Device type (Threshold Suspended Device System, Control to Range (CTR) System, and Control to Target(CTT) System), End User (Hospitals and Clinics and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Device Type | Threshold Suspended Device System | |
| Control To Range (CTR) System | ||
| Control to Target (CTT) System | ||
| By End User | Hospitals and Clinics | |
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Artificial Pancreas Device System Market Research FAQs
What is the current Global Artificial Pancreas Device System Market size?
The Global Artificial Pancreas Device System Market is projected to register a CAGR of 18.20% during the forecast period (2024-2029)
Who are the key players in Global Artificial Pancreas Device System Market?
Medtronic plc , Tandem Diabetes Care, Inc, Dexcom, Inc. , Insulet Corporation and Defymed are the major companies operating in the Global Artificial Pancreas Device System Market.
Which is the fastest growing region in Global Artificial Pancreas Device System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Artificial Pancreas Device System Market?
In 2024, the North America accounts for the largest market share in Global Artificial Pancreas Device System Market.
What years does this Global Artificial Pancreas Device System Market cover?
The report covers the Global Artificial Pancreas Device System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Artificial Pancreas Device System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Artificial Pancreas Device System Industry Report
Statistics for the 2023 Artificial Pancreas Device System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Artificial Pancreas Device System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
