Artificial Pancreas Device System Market UpComing Developments With Major Key Players Medtronic, Medtrum, Tandem Diabetes Care,Johnson & Johnson, Beta Bionics, Bigfoot Biomedical

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).

According to the industry and Center for Diseases Control and Prevention (CDC) estimates, type 1 diabetes population accounts for nearly 5% of the total diabetic population. According to Juvenile Diabetes Research Foundation (JDRF), around 1.5 million type 1 diabetic patients were reported worldwide in 2015. The CDC estimates that more than 13,000 young people are diagnosed with type 1 diabetes annually in the U.S. Increasing number of population base along with the quest for developing an innovative diabetes monitoring and management therapy is projected to drive growth of the global artificial pancreas device system (APDS) market.

The market for control to target (CTT) artificial pancreas system is expected to grow rapidly with the launch of MiniMed 670G, which will eliminate the need for setting insulin dose by the patient at meal times
Type 2 diabetic patents hold more than 95% share in the global artificial pancreas device system (APDS) market

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Furthermore, being a novel device, the market for artificial pancreas system is estimated to be high and rapidly growing in North America and Europe as these are the major target markets for market players. Launch of artificial pancreas system later in emerging economies is expected to stimulate growth in Asia Pacific and Latin America artificial pancreas device system (APDS) markets towards the latter half of the forecast period.

Type 1 diabetes patients require multiple doses of insulin through the day in order to manage their diabetes condition. Considering the current lack of feasible alternative solution to manage type 1 diabetes apart from administering insulin, an artificial pancreas that offers convenience with continuous management of glucose level in the body is the next best solution. An artificial pancreas system works 24 hours to automatically monitor and administer insulin in controlled amounts as per variations in glucose levels in the body. Medtronic’s MiniMed 620G and 640G were the first such devices launched in the global artificial pancreas device system (APDS) market in 2014 and 2015, respectively. Artificial pancreas system would ease the life of type 1 diabetic patients by eliminating the need for regular check on glucose level and administering insulin using injectors or pens.

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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