Market Analysis: Global Artificial Pancreas Systems Market

Global Artificial pancreas systems market is expected to rise to an estimated value of USD 175.98 million by 2026 registering a substantial CAGR in the forecast period of 2019-2026. This rise in the value of the market can be attributed to the rising demand of remote monitoring applications, increasing demand for home care setting devices and government initiatives in clinical research.

Global Artificial Pancreas Systems Market By Device (Threshold Suspended Device System, CTR System, CTT System), End User (Hospitals, Clinics, Home Care, Ambulatory Center), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Industry Trends and Forecast to 2026

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Market Definition: Global Artificial Pancreas Systems Market

Artificial pancreas system is a technology that consists of sensors, biomaterials, innovative delivery systems which manages the sugar level in blood, reduces type 1 diabetes related risks. The system continuously monitors the glucose level in blood and provides substitute endocrine functionality of pancreas. They perform the same function as a normal original pancreas, thereby ensuring the long and healthy life of patients.

Market Drivers

· Rising focus on R&D activities by industry players has increased the demand for these devices in the market

· Rising incidence of patients with diabetes

· Increasing demand for advanced and automatic systems to stabilize level of glycaemia

· Increasing healthcare expenditure also drives the growth of this market

· Increasing pace of innovations and advancements due to support from various regulatory healthcare bodies

Market Restraints

· High initial costs for installing the equipments

· Lack of knowledge and skilled professionals regarding the maintenance and operations of these devices is expected to restrain the growth of the market

· Concerns regarding certain side effects and ineffectiveness for the population suffering from athletic diabetes

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Competitive Analysis:

Global artificial pancreas systems market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of artificial pancreas systems market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major market competitors currently working in the global artificial pancreas systems market are Medtronic, Insulet Corporation, Tandem Diabetes Care, Inc., Diabeloop SA, Admetsys, Defymed, SEMMA THERAPEUTICS, Pancreum, Inc., Beta Bionics, Dexcom, Inc., BIGFOOT BIOMEDICAL, INC., amongst others.

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Research Methodology: Global Artificial Pancreas Systems Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Key Developments in the Market:

· In January 2019, BIGFOOT BIOMEDICAL, INC. entered into a collaborative agreement with Eli Lilly and Company, to launch 2 of the most innovative and advanced artificial pancreas systems, named “Bigfoot Loop” and “Bigfoot Inject”. These two devices would be Bluetooth enabled pumps and pens, respectively, which would automatically deliver insulin to its users through a mobile phone app. With this launch, Bigfoot would integrate medical devices and AI to a whole new level, which in turn would boost the growth of this market.

· In March 2019, Medtronic developed and launched the MiniMed 670G system, a new insulin pump for those who are suffering with type 1 diabetes. This is an automated system that automatically understands and studies the user’s body, and continually controls the delivery of insulin to naturally adjust the glucose levels and avoid the occurrence of hypoglycemia and hyperglycemia. This device is the first of its kind, with a SmartGuard Technology and a glucose monitoring sensory device which automatically controls the right level of glucose according to each patient’s condition. With such developments, Medtronic is aiming to simplify the treatment for the diabetic patients ensuring healthy and quality life.

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