Artificial Pancreas Device System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The artificial pancreas device system market is projected to reach US$ 3,585.75 million by 2031 from US$ 1,190.23 million in 2022; it is estimated to grow at a CAGR of 20.28% from 2022–2031.

Artificial pancreas device systems closely copy the glucose-regulating function of the fit pancreas. The device not only monitors the glucose levels in the body but also automatically adjusts the distribution of insulin to reduce blood glucose levels and lowers the incidence of low blood glucose with less or no input from patients. According to the Food and Drug Administration, the use of an artificial pancreas is associated with better control of blood sugar levels for people with type 1 diabetes compared with standard treatment.

The artificial pancreas device system market is segmented on the basis of type and geography. Based on geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the market, emphasizing on parameters such as market trends, technological advancements, and market dynamics, along with the analysis of the competitive landscape of the globally leading market players.

Strategic Insights

Market Insights

Growing Prevalence of Diabetes Bolsters Artificial Pancreas Device System Market

Diabetes is a life-threatening chronic disease with no specialized cure. The disease is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. It is one of the largest global health emergencies of the 21st century. Diabetes prevents the body from adequately regulating blood glucose levels. There are two types of diabetes, namely, diabetes type-I (also known as diabetes insipidus) and diabetes type II (also termed diabetes mellitus). Obesity, a sedentary lifestyle, and unhealthy eating habits are the key risk factors that are associated with the rapidly increasing diabetic population.

According to the International Diabetes Federation (IDF), in North America, the number of people with diabetes is expected to rise from ~46 million in 2017 to ~62 million by 2045; the disease prevalence is likely to surge by ~35% during the forecast period. According to the American Diabetes Association, ~30.3 million people, i.e., up to 9.4% of the US population, suffered from diabetes; out of this, 1.25 million children suffered from diabetes type I, in 2017. The National Institutes of Health also states that the incidence of diabetes type I is increasing rapidly worldwide, affecting a significant number of children and teenagers. According to the same source, ~84 million people in Southeast Asia suffer from diabetes in 2017. Out of these patients, 149,300 children suffer from diabetes type-I and require a daily dosage of insulin shots. Type 2 diabetes is the most prevalent form of diabetes, and has increased alongside cultural and societal changes. In high-income countries, up to 91% of diabetic adults have type 2 diabetes. According to the IDF, ~425 million people in the world were living with diabetes in 2017, and the number is expected to reach 629 million by 2045.

Diabetes of all types can lead to various complications in many parts of the body and can increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with this disease. Patients suffering from diabetes require frequent monitoring and external insulin administration.

Type Insights

Based on type, the artificial pancreas device system market is segmented into control to range, control to target and threshold suspended device systems. In 2022, the threshold-suspended device systems segment held the largest share of the market. The segment is further expected to register the highest CAGR during 2022–2031. With threshold suspend device systems, also called low glucose suspend systems, the delivery of insulin is suspended for a set time when 2 glucose levels are below a specified low level, indicating hypoglycemia. A threshold-suspended device helps reverse the drop in blood glucose levels. With threshold suspend device systems, also called low glucose suspend systems, the delivery of insulin is suspended for a set time when 2 glucose levels are below a specified low level. Threshold-suspended devices cannot respond to a low blood sugar (hypoglycemic) event.

Product launches and mergers and acquisitions are the highly adopted strategies by companies operating in the global artificial pancreas device system market. A few of the recent key product developments are listed below:

• In June 2021, Medtronic received CE mark for the MiniMed 780G system to cure type 1 diabetes patients from the age group 7 to 80 years of age.
• In April 2022, Abbott collaborated with Ypsomed, CamDiab to bring artificial pancreas system to Europe.
• In January 2021, Medtronic launched its MiniMed 780G system in UK. It is an advanced hybrid closed-loop insulin delivery system that is used for the management of type 1 diabetes for people aged 7 to 80 years.

Artificial Pancreas Device System Market – Market Segmentation

In terms of type, the artificial pancreas device system market is segmented into control to range, control to target, and threshold suspended device systems. Based on Geography, the market is divided into North America (US, Canada, Mexico), Europe (France, Germany, UK, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa), South and Central America (Brazil, Argentina, and Rest of South and Central America)

Company Profiles

• Defymed
• Typezero Technologies, Inc
• Insulet Corporation
• Bigfoot Biomedical, Inc
• Medtronic
• Dexcom, Inc
• Admetsys
• Beta Bionics
• Cellnovo
• Tandem Diabetes Care, Inc

REGIONAL FRAMEWORK

Artificial Pancreas Device System Market Report Analysis

MARKET PLAYERS

Artificial Pancreas Device System Market Report Scope

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