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Artificial Pancreas Device System Market: Description
The pancreas is among the main endocrine glands that produce hormones released directly into the blood. The pancreas measures about 6 inches long and lies in the abdominal cavity. The pancreas generates the essential hormones of insulin, polypeptide, somatostatin, and glucagon. The pancreas helps in digestion as well as absorption by secreting pancreatic juice that contains digestive enzymes.
The Artificial Pancreas Device System is used for the treatment of Type 1 Diabetes. Patients suffering from Type 1 Diabetes require several doses of insulin a day and throughout the year. The Artificial Pancreas Device System is often referred to as the closed-loop system for controlling of the glycemic or bionic pancreas. This Artificial Pancreas Device imitates the function of glucose regulation in a healthy pancreas.
Source: WMR
Artificial Pancreas Device System Market: Overview
The global Artificial Pancreas Device System Market size stood at USD 171.04 Million in 2022 and is projected to reach USD 990.51 million by the end of 2033 exhibiting a CAGR of 19.2% over the forecast period of 2023 to 2033.
The primary drivers behind the growth of artificial pancreas devices are the growing rate of diabetes and the aging population worldwide. Developing Technological advancements coupled with the increased investment in the research and development processes are the primary factors expected to boost the market. In addition, the growing demand for automated systems to control the glucose level due to its flexibility, precision, and simplicity of use, will drive the expansion of the market. In the International Diabetes Federation report, Diabetes Atlas Ninth Edition 2019, around 463 million people aged 20-79 years had diabetes in the year 2019, and by 2045, the number is projected to reach 700 million across the globe. In addition, over 1.1 million adolescents and children had type 1 diabetes in 2019 globally, and 374 million are at chance of developing Type 2 Diabetes. So, based on the above facts and the key drivers, the artificial pancreas market is predicted to grow over the forecast period.
Source: WMR
Artificial Pancreas Device System Market: Key Trends
The Threshold Suspended Device System Market is anticipated to rise over the forecast period.
A threshold-suspended device helps reverse the dangerous drop in blood glucose levels (hypoglycemia) by the temporary suspension of insulin delivery when the glucose level falls to a very low glucose threshold. They are often called ""low levels of glucose suspension systems."" The control of glucose in diabetic patients is essential to ensure a better health outcome. Thus, devices that are suspended at the threshold system play an essential part in controlling hypoglycemia. The leading players are involved in the innovation and the launch of the artificial pancreas device system having novel threshold suspend features.
For instance, in June 2020, Tandem Diabetes Care, Inc. has received U.S. Food and Drug Administration (FDA) approval of an expanded indication for children of the t: slim X2 insulin pump that uses Control-IQ technology, which is available to children aged six and older. Control-IQ technology is designed for integration with a compatible continuous glucose monitor integrated into the system to automatically increase, decrease, and stop the delivery of basal insulin in accordance with iCGM readings and glucose predictions values. Therefore, the benefits of these devices and the upcoming developments that are expected to be released, the market for the threshold suspended device systems is predicted to grow dramatically over the forecast period.
North America has been dominating the market and is anticipated to maintain its dominance over the forecast period
Based on the Centers for Disease Control and Prevention (CDC)s National Diabetes Statistics report for 2020, an estimated 34.2 million people of all ages had diabetes in the United States in 2018. The proportion of adults with diabetes increased with age reaching 26.8% among people aged 65 years and above. It has also been estimated that close to 88 million American adults suffered from prediabetes in 2018. According to the Bureau of Population Reference's Bulletin ""Ageing in the United States,"" the number of Americans who are 65 and older is expected to nearly double from just 52 million in 2018 to 95 million by 2060. With the growing rate of diabetes and the increase in the geriatric population and technological advancements, North America is expected to be a significant driver for the artificial pancreas device market during the forecast period.
Artificial Pancreas Device System Market: Segmentation Analysis
Key Players:
Medtronic
Johnson & Johnson
Bigfoot Biomedical
F. Hoffmann-La Roche Ltd
Inreda Diabetic B.V.
Insulet Corp
Beta Bionics
Pancreum, Inc.
Tandem Diabetes Care, Inc.
Typezero Technologies, LLC.
Artificial Pancreas Device System Market based on device type
Threshold suspend device systems
Control- to-Range systems (CTR)
Control-to- Target systems (CTT)
The threshold suspends device system segment led the Artificial Pancreas Device System market and accounted for a major global revenue share in 2022. This high share is attributed to its ability to take an instant action automatically when the patient is not able to respond to threshold suspend alarm, and it stops insulin supply as soon as sensor glucose reaches a low threshold. CTT system is expected to register substantial growth with a CAGR of 37.6% over the forecast period. This growth can be credited to the CTT system attributes, such as its automation system, minimizing patient intervention. These factors are projected to drive the growth of the global Artificial Pancreas Device Market.
Source: WMR
Artificial Pancreas Device System Market based on treatment type
Bi-hormonal
Insulin Only
Hybrid
Artificial Pancreas Device System Market based on end-user
Hospital
Medical Centers
Others
The Hospital segment dominated the market for Artificial Pancreas devices and held the largest revenue share in 2022. The segment is expected to maintain its dominance over the forecast period. This growth can be credited to the growing investment in the construction of hospitals with advanced technology and equipment.
Artificial Pancreas Device System Market: Regional Analysis
Europe dominated the market and accounted for a significant revenue share of around 43% in 2022. This growth can be credited to its sophisticated healthcare infrastructure, higher healthcare expenditure, and high patient awareness level. Moreover, the government has provided funds to provide better quality of treatment, which acts as an encouragement for the industry players.
The Asia Pacific is anticipated to witness significant growth in the forthcoming years. The Asia Pacific region has the highest number of diabetes patients owing to their habits, lifestyle, urbanization, aging, and genetic modification. Therefore, Artificial Pancreas Device System Market is expected to grow over the forecast period due to rising incidences of diabetes.
CompetiveLandscape:
Medtronic, Johnson & Johnson, Bigfoot Biomedical, F. Hoffmann-La Roche Ltd, Inreda Diabetic B.V., Insulet Corp, Beta Bionics, Pancreum, Inc., Tandem Diabetes Care, Inc., and Typezero Technologies, LLC.
Report Scope
Artificial Pancreas Device System Market Forecast Year: 2023-2033
Artificial Pancreas Device System Market 2023: USD 171.04 Million
Artificial Pancreas Device System Market 2033: USD 990.51 Million
Artificial Pancreas Device System Market CAGR: 19.2%
Key Regions and Countries: North America, Europe, Asia Pacific, LAMEA
Key Segments: Device Type, End Users, and Regional Outlook
1. Global Artificial Pancreas Device System Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Artificial Pancreas Device System Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years 2020 to 2021
1.3.2. Projected Data Reporting Years 2023 to 2033
1.3.3. Reporting Data Parameters Value (US$ Million)
1.4. Global Artificial Pancreas Device System Market Scope and Market Estimation
1.4.1. Global Artificial Pancreas Device System Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020to 2033)
1.4.2. Global Artificial Pancreas Device System Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020to 2033
1.5. Artificial Pancreas Device System Market Segmentation
1.5.1. Device Type of Global Artificial Pancreas Device System Market
1.5.2. Treatment Type of Global Artificial Pancreas Device System Market
1.5.3. End User of Global Artificial Pancreas Device System Market
1.5.4. Key Regions of Global Artificial Pancreas Device System Market
2. Global Artificial Pancreas Device System Market - Executive Summary
2.1. Global Artificial Pancreas Device System Market Summary & Snapshot
2.2. Global Artificial Pancreas Device System Market, By Device Type (US$ Million)
2.3. Global Artificial Pancreas Device System Market, By Treatment Type (US$ Million)
2.4. Global Artificial Pancreas Device System Market, By End User (US$ Million)
2.5. Global Artificial Pancreas Device System Market, By Geography (US$ Million)
2.6. Global Artificial Pancreas Device System Market Outlook & Future Opportunities
3. Artificial Pancreas Device System Market Trends, Outlook, and Factors Analysis
3.1. Global Artificial Pancreas Device System Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Artificial Pancreas Device System Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Artificial Pancreas Device System Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Growing number of diabetes patients
3.2.1.2. The rising prevalence of pancreatic cancer, pancreatitis and other chronic diseases
3.2.1.3. Increasing demand for computerized systems for glycemic control
3.2.1.4. Driver 4
3.2.1.5. Driver 5
3.2.2. Restraints
3.2.2.1. Excessive cost of device system and technical failures
3.2.2.2. Restraint 2
3.2.3. Opportunities
3.2.3.1. Higher R&D investment by government for the improvement of healthcare infrastructure across the globe
3.2.3.2. Launches of new device systems by key players
3.2.3.3. Opportunity 3
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porters Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Artificial Pancreas Device System Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Artificial Pancreas Device System Market
3.9.1. By Device Type
3.9.2. By Treatment Type
3.9.3. By End User
3.9.4. By Regions
4. Global Artificial Pancreas Device System Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Artificial Pancreas Device System Market, 2020 2021 (US$ Million)
4.2. Global Artificial Pancreas Device System Market, By Device Type, 2020 to 2021 (US$ Million)
4.3. Global Artificial Pancreas Device System Market, By Treatment Type, 2020 to 2021 (US$ Million)
4.4. Global Artificial Pancreas Device System Market, By End User, 2020 to 2021 (US$ Million)
4.5. Global Artificial Pancreas Device System Market, By Region, 2020 to 2021 (US$ Million)
5. Global Artificial Pancreas Device System Market Estimates & Forecast Trend Analysis, by Device Type
5.1. Global Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, by Device Type, 2022 & 2033
5.2. Global Artificial Pancreas Device System Market Revenue (US$ Million) Estimates and Forecasts, by Device Type, 2023 to 2033
5.2.1. Threshold Suspended Device System
5.2.2. Control to Range (CTR) System
5.2.3. Control to Target(CTT) System
6. Global Artificial Pancreas Device System Market Estimates & Forecast Trend Analysis, by Treatment Type
6.1. Global Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, by Treatment Type, 2022 & 2033
6.2. Global Artificial Pancreas Device System Market Revenue (US$ Million) Estimates and Forecasts, by Treatment Type, 2023 to 2033
6.2.1. Bi-hormonal
6.2.2. Insulin Only
6.2.3. Hybrid
7. Global Artificial Pancreas Device System Market Estimates & Forecast Trend Analysis, by End User
7.1. Global Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, by End User, 2022 & 2033
7.2. Global Artificial Pancreas Device System Market Revenue (US$ Million) Estimates and Forecasts, by End User, 2023 to 2033
7.2.1. Hospitals
7.2.2. Medical Centers
7.2.3. Others
8. Global Artificial Pancreas Device System Market Analysis and Forecast, by Region
8.1. Global Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
8.2. Global Artificial Pancreas Device System Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2023 to 2033
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. Latin America
9. North America Artificial Pancreas Device System Market: Estimates & Forecast Trend Analysis
9.1. North America Artificial Pancreas Device System Market Assessments & Key Findings
9.2. North America Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3. North America Artificial Pancreas Device System Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
9.3.1. By Device Type
9.3.2. By Treatment Type
9.3.3. By End User
9.3.4. By Major Country
9.3.4.1. The U.S.
9.3.4.2. Canada
10. Europe Artificial Pancreas Device System Market: Estimates & Forecast Trend Analysis
10.1. Europe Artificial Pancreas Device System Market Assessments & Key Findings
10.2. Europe Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. Europe Artificial Pancreas Device System Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
10.3.1. By Device Type
10.3.2. By Treatment Type
10.3.3. By End User
10.3.4. By Major Country
10.3.4.1. Germany
10.3.4.2. The U.K.
10.3.4.3. France
10.3.4.4. Italy
10.3.4.5. Spain
10.3.4.6. Rest of Europe (includes all other European countries)
11. Asia Pacific Artificial Pancreas Device System Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific Artificial Pancreas Device System Market Assessments & Key Findings
11.2. Asia Pacific Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Asia Pacific Artificial Pancreas Device System Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
11.3.1. By Device Type
11.3.2. By Treatment Type
11.3.3. By End User
11.3.4. By Major Country
11.3.4.1. China
11.3.4.2. Japan
11.3.4.3. India
11.3.4.4. ASEAN
11.3.4.5. South Korea
11.3.4.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
12. Middle East & Africa Artificial Pancreas Device System Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa Artificial Pancreas Device System Market Assessments & Key Findings
12.2. Middle East & Africa Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Middle East & Africa Artificial Pancreas Device System Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
12.3.1. By Device Type
12.3.2. By Treatment Type
12.3.3. By End User
12.3.4. By Major Country
12.3.4.1. GCC
12.3.4.2. South Africa
12.3.4.3. Egypt
12.3.4.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
13. Latin America Artificial Pancreas Device System Market: Estimates & Forecast Trend Analysis
13.1. Latin America Market Assessments & Key Findings
13.2. Latin America Artificial Pancreas Device System Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Latin America Artificial Pancreas Device System Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
13.3.1. By Device Type
13.3.2. By Treatment Type
13.3.3. By End User
13.3.4. By Major Country
13.3.4.1. Brazil
13.3.4.2. Mexico
13.3.4.3. Rest of Latin America (includes all other Latin America countries)
14. Competitive Landscape
14.1. Artificial Pancreas Device System Market Revenue Share Analysis (%), by Major Players (2021)
14.2. Artificial Pancreas Device System Market Competition Matrix, by Leading Players
14.3. Artificial Pancreas Device System List of Emerging, Prominent and Leading Players
14.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
15. Company Profiles
15.1. Medtronic
15.1.1. Company Overview & Insights
15.1.2. Financial Performance
15.1.3. Product / Service Portfolio
15.1.4. Geographical Footprint & Share
15.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
15.2. Johnson & Johnson
15.3. Beta Bionics
15.4. Bigfoot Biomedical
15.5. Admetsys (pipeline product analysis)
15.6. Animas Corporation
15.7. Defymed
15.8. dexcom
15.9. Insulet
15.10. MedTech
15.11. Semma Therapeutics
15.12. Tandem Diabetes Care
15.13. TypeZero Technologies
15.14. Pancreum, Inc.
15.15. Cellnovo
15.16. F.Hoffeman-La Roche Ltd
15.17. Inreda Diabetic B.V.
15.18. Roche Holding AG
15.19. Medtrum Technologies Inc.
15.20. DreaMed Diabetes Ltd
15.21. Others
16. Assumptions and Research Methodology
16.1. Data Mining
16.2. Secondary Research
16.3. Primary Research
16.4. Subject Matter Expert Advice
16.5. Quality Check
16.6. Final Review
16.7. Data Triangulation
16.8. Bottom-Up Approach
16.9. Top Down Approach
16.10. Research Flow
16.11. Key Insights from Industry Experts
16.12. Data Sources
16.13. Assumptions
16.14. Limitations
17. Conclusions and Recommendations
17.1. Key Research Findings and Conclusion
17.2. Key Insights & Recommendations from Analysts