The global artificial pancreas device system market size is expected to value USD 390.4 million by 2024, during the forecast period. The artificial pancreas device system industry is subject to witness a substantial growth due to growing occurrence of heart-related diseases such as diabetes, extensive research and development efforts by market players, and growing need for advanced electronic systems in healthcare sector such as glycemic control. Artificial pancreas device system allows easy monitoring of the blood-glucose level in case of facilitates diabetes management. Globally, the artificial pancreas device system market is predicted to grow at a CAGR of 20.2% in forecast period, providing numerous opportunities for market players to invest in research and development.
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The growing occurrence of diabetes in both - developing and developed economies is attributed to changing food patterns, inherited diseases, obesity, physical inactivity and high calorie diet, all leading to the growth of the artificial pancreas device system industry in recent years. Moreover, the patient’s over-dependency on insulin, mainly in type 2 diabetes is key factor for growing demand for artificial pancreas device system.
Other factors such as rise in the awareness among the patient sab out treatment of diabetes and numerous opportunities for collaboration between FDA and privately-owned institutions are propelling growth of the artificial pancreas device system industry in the forecast period. Though, unavailability of highly skilled healthcare professionals in underdeveloped countries in African and South American regions is likely to hamper the growth of the market.
The pancreas is a part of the human-body that is responsible for production of multiple hormones such as insulin and glucagon, along with a few digestive enzymes to allow proper digestion of food items. Insulin allows body cells to acquire glucose from the blood providing essential energy for their functioning, at the same time lowering blood glucose levels. While, glucagon secreted by pancreases is responsible for releasing glucose that is stored in the liver, raising overall blood glucose levels.
Type 1 diabetes commonly arises due to lower or almost negligible production of insulin that is needed to regulate blood glucose level in the body. While, in type 2 diabetes production insulin or already present insulin is resisted by body itself, causing adverse effects. The artificial pancreas device system is responsible for closely monitoring the glucose level by mimicking functionality of a healthy pancreas. The common type of the artificial pancreas device system utilized by number of diabetes patients these days are a constant glucose monitoring (CGM) devices and an insulin infusion pump.
Special types of devices are used such as a blood glucose devices or glucose meters to regulate the constant glucose monitoring (CGM) system. A computerized system is implemented in order to manage constant glucose monitoring (CGM) and insulin infusion pump, providing consistent communication between the two devices. An artificial pancreas device system is also termed as a closed-loop system or an automated insulin delivery system. The artificial pancreas device systems manage glucose level in blood, while regulating or automatically changing the production of insulin in blood to decrease high blood glucose levels such as hyperglycemia. The artificial pancreas device system also monitors and regulate low blood sugar level as required.
The artificial pancreas device system market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise adoption of latest technologies in healthcare sector and existence well-established healthcare infrastructure. Asia-Pacific region is predicted to hold the major market share in the artificial pancreas device system industry with massive growth in the forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with the changing food habits, genetic modification, and growing elderly population.
The key players in the artificial pancreas device system market are Bigfoot Biomedical Co., Johnson & Johnson Inc., Tandem Diabetes Care Incorporations, Pancreum, Incorporations, TypeZero Technologies, and Beta Bionics, Inc.
Market Segment:
Artificial Pancreas Device System Device Type Outlook (Revenue, USD Million, 2013 - 2024)
• Threshold suspended device system
• CTR System
• CTT System
Artificial Pancreas Device System Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• Middle East and Africa (MEA)
• South Africa
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Table of Content
Chapter 1 Research Methodology
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Market Summary
Chapter 4 Market Variables, Trends & Scope
4.1 Market Segmentation & Scope
4.2 Market Driver Analysis
4.3 Market Restraint Analysis
4.4 Penetration & Growth Prospect Mapping
4.5 SWOT Analysis, By Factor
4.5.1 Political
4.5.2 Economic
4.5.3 Technology
Continued…
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The global artificial pancreas device system market size is expected to value USD 390.4 million by 2024, during the forecast period.
The artificial pancreas device system industry is subject to witness a substantial growth due to growing occurrence of heart-related diseases such as diabetes, extensive research and development efforts by market players, and growing need for advanced electronic systems in healthcare sector such as glycemic control.
Artificial pancreas device system allows easy monitoring of the blood-glucose level in case of facilitates diabetes management.
Globally, the artificial pancreas device system market is predicted to grow at a CAGR of 20.2% in forecast period, providing numerous opportunities for market players to invest in research and development.The growing occurrence of diabetes in both - developing and developed economies is attributed to changing food patterns, inherited diseases, obesity, physical inactivity and high calorie diet, all leading to the growth of the artificial pancreas device system industry in recent years.
Moreover, the patient’s over-dependency on insulin, mainly in type 2 diabetes is key factor for growing demand for artificial pancreas device system.For further inquiries, about - Global Artificial Pancreas Device System Industry Analysis, Size, Growth, Trends and Forecast 2013 - 2024, click on this link – https://www.millioninsights.com/industry-reports/artificial-pancreas-device-system-apds-marketOther factors such as rise in the awareness among the patient sab out treatment of diabetes and numerous opportunities for collaboration between FDA and privately-owned institutions are propelling growth of the artificial pancreas device system industry in the forecast period.
Though, unavailability of highly skilled healthcare professionals in underdeveloped countries in African and South American regions is likely to hamper the growth of the market.The pancreas is a part of the human-body that is responsible for production of multiple hormones such as insulin and glucagon, along with a few digestive enzymes to allow proper digestion of food items.
Overview:The global market for artificial pancreas device system is all set to transcend a valuation of USD 341.08 million by 2023 with a CAGR of 21.10% during the forecast period (2018-2023).
Market Research Future (MRFR) discussed several factors like better technological scope, high level of inclusion of latest engineering, innovation, the influx of investment, improved research and development facilities, and others as possible growth-inducing factors.
However, the artificial pancreas device system cost can be a major market deterrent in the coming years.
Various hospitals are going to contribute substantially to the infrastructure in these spaces can easily handle the complications of the procedures.
Also, better investment in the healthcare sector can prove beneficial for the easy incorporation of artificial pancreas device system market.
Better research facilities are expected to trigger a revenue generation procedure.The Asia Pacific region is a space that offers residence to a vast number of people.
Dec 03, 2019 (AB Digital via COMTEX) -- Artificial Pancreas Device System Market Share, Application and Cost Structure Analysis By Type (Control to Range (CTR) and Control to Target (CTT) Systems), Key Players, Region and Segmentation, Forecast to 2023
The Global Artificial Pancreas Device System Market Share is slated to register a CAGR of 21.10% and record a valuation of USD 341.08 million by 2023, owing to artificial pancreas are being increasingly used as a treatment option for diabetes according to Market Research Future (MRFR).
The global artificial pancreas device system market has witnessed a boost of late as the number of cases of diabetes continue to rise across the globe due to an expanding geriatric population and negative impact of unhealthy lifestyle.
The chief end users of the artificial pancreas device system market include medical centers, hospitals etc.
Regional analysis of the global artificial pancreas device system market includes the regions of North America, Asia Pacific, Europe, Middle East and Africa.
Artificial pancreas device system market has witnessed a surge in the number of industry competitors due to the future promise that the technology holds for the industry.
