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Artificial Pancreas Device System (APDS) Market Strategies and Forecasts 2024 Analysis By Global Players Medtronic, Medtrum, Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Bigfoot Biomedical, Insulet Corporation
Global Artificial Pancreas Device System (APDS) Market
Administering insulin on daily basis is cumbersome for type 1 diabetes (T1D) patients in a busy lifestyle. While devices such as insulin pumps, pens, and jet injectors have made living with diabetes less stressful by ridding users of relatively painful insulin delivering devices such as needles and syringes. Juvenile Diabetes Research Foundation (JDRF) is working in collaboration with many industry players such as Medtronic, Inc., Johnson & Johnson, and Tandem Diabetes Care, Inc. to develop innovative insulin and glucose monitoring systems/devices.
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Artificial pancreas is the outcome of these collaborations which is also encouraged for use by the FDA. Artificial pancreas device system (APDS) consists of an insulin pump, sensor, transmitter, and a receiver. MiniMed 530G from Medtronic, Inc. was the first artificial pancreas device system (APDS) approved by FDA. This threshold suspend device system enables temporary suspension of insulin delivery when the glucose level is lower than the threshold level. Another system, Medtrum’s P6 Easy Touch Disposable Pump is a semi-closed loop artificial pancreas that is under clinical trials in Europe. Many such systems are under clinical trials and expected to be launched in near future in the global artificial pancreas device system (APDS) market. Developed economies in North America, Europe and Pacific region would be the potential regional opportunities for this novel system in the global artificial pancreas device system (APDS) market.
Market Dynamics:
The artificial pancreas device system (APDS) market growth would be mainly driven by increasing adoption of the highly useful systems the large base of diabetes type 1 patients, further supplemented by ever increasing incidence of type 1 diabetes. According to the World Health Organization (WHO), number of diabetes patients worldwide increased from 108 million in 1980 to 422 million in 2014. According to Juvenile Diabetes Research Foundation (JDRF), there were around 1.5 million type 1 diabetics worldwide in 2015. JDRF funds research in diabetes 1 and the non-profit organization expected the first artificial pancreas to be commercialized in 2017. According to the Center for Disease Control and Prevention (CDC), type 1 diabetes accounts for around 5% of the total diagnosed diabetes cases in adults in the U.S. Developed regions are expected to dominate the artificial pancreas device system (APDS) market size, as these regions are early adopters of disruptive technologies. With the introduction of this technology, market for insulin pens and injectors is expected to be impacted negatively.
The global artificial pancreas device system (APDS) market was valued at US$ 64.0 million in 2015 and is expected to witness a moderate CAGR of 18.6% during the forecast period (2016 – 2024).
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Key players operating in the global Artificial Pancreas Device System (APDS) market:
• Medtronic
• Medtrum
• Tandem Diabetes Care, Inc.
• Johnson & Johnson
• Beta Bionics
• Bigfoot Biomedical
• Insulet Corporation
Market Taxonomy:
This report segments the global artificial pancreas device system (APDS) market on the basis of technology, distribution channel, end user and geography. On the basis of technology, the global artificial pancreas device system (APDS) market is categorized into Treat to Range/Control to Range (TTR/CTR), Treat to Target/ Control to Target (TTR/CTT) and Threshold Suspended Device Systems. On the basis of distribution channel the global artificial pancreas device system (APDS) market is segmented into e-commerce, Standalone Retail Shops and hospitals. End user of the APDS include type 1 and type 2 diabetic patients. For comprehensive understanding of market dynamics, the global artificial pancreas device system (APDS) market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Detailed Segmentation:
Global Artificial Pancreas Device System (APDS) Market, By Technology:
• Threshold Suspended Device Systems
• Treat to Range/Control to Range (TTR/CTR)
• Treat to Target/ Control to Target (TTR/CTT)
Global Artificial Pancreas Device System (APDS) Market, By Distribution Channel:
• E-commerce
• Standalone Retail Shops
• Hospitals
Global Artificial Pancreas Device System (APDS) Market, By End User:
• Type 1 Diabetic Patients
• Type 2 Diabetic Patients
Global Artificial Pancreas Device System (APDS) Market, By Geography:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa
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This study answers to the below key questions:
1. What will the market size be in 2024 and what will the growth rate be?
2. What are the key market trends?
3. What are the challenges to market growth?
4. Who are the key players in this market?
5. What are the market opportunities and threats faced by the key players?
In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Artificial Pancreas Device System (APDS) Market.
Major Points in Table of Contents:
Global Artificial Pancreas Device System (APDS) Market Report 2024
1. Artificial Pancreas Device System (APDS) Product Definition
2. Global Artificial Pancreas Device System (APDS) Market Manufacturer Share and Market Overview
3. Manufacturer Artificial Pancreas Device System (APDS) Business Introduction
4. Global Artificial Pancreas Device System (APDS) Segmentation (Region Level)
5. Global Artificial Pancreas Device System (APDS) Market Segmentation (Product Type Level)
6. Global Artificial Pancreas Device System (APDS) Market Segmentation (Industry Level)
7. Global Artificial Pancreas Device System (APDS) Market Segmentation (Channel Level)
8. Artificial Pancreas Device System (APDS) Market Forecast 2018-2024
9. Artificial Pancreas Device System (APDS) Segmentation Product Type
10. Artificial Pancreas Device System (APDS) Segmentation Industry
11. Artificial Pancreas Device System (APDS) Cost of Production Analysis
12. Conclusion
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