Artificial Pancreas Device System Market to Witness 20.9% CAGR During 2018-2025: Defymed, TypeZero Technologies, Inc., Insulet Corporation, Bigfoot Biomedical, Medtronic, Dexcom, Admetsys, Beta Bionics, Cellnovo, and Tandem Diabetes Care
The market is likely to witness a rapid growth owing to factors such as growing prevalence of diabetes, developments by major players, and rise in demand for computerized systems for glycemic control. Additionally, the market is also likely to be accelerated by new product launches by market players that are presently in the pipeline. However, availability of alternatives for artificial pancreas device systems and high cost associated with these systems are expected to hinder the market growth in the coming years.
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Global artificial pancreas device systems market, based on the type was segmented into control to range, control to target and threshold device systems. In 2017, the threshold suspended device systems segment held a largest market share of 71.5% of the artificial pancreas device systems market, by type. The threshold suspended device systems is the largest segment among the type segment in the artificial pancreas devices system market in 2017 and is also anticipated to hold the largest market in the year 2025. However, the control to target segment is the fastest growing segment and is accounted to grow at the CAGR of 21.4% over the forecast years.
The threshold suspended device systems segment held the major market share among the type segment in the artificial pancreas device systems market
Key market players of Artificial pancreas device systems market are Defymed, TypeZero Technologies, Inc., Insulet Corporation, Bigfoot Biomedical, Inc., Medtronic, Dexcom, Inc., Admetsys, Beta Bionics, Cellnovo, and Tandem Diabetes Care, Inc. among others.
The market players are indulged into bringing new products to the market to keep to the pace of the competitive market nature. For instance, in February, 2018, Medtronic received the U.S. Food and Drug Administration (FDA) approval for new arm indication for the Guardian Sensor 3. The latest indication enables patients to wear the sensor on the upper arm, which delivers more flexible and enhanced performance for users, and improved accuracy to be used with the MiniMed 670G system. Additionally, in July, 2016, Tandem Diabetes Care and TypeZero Technologies entered into an agreement for the launch of TypeZero’s artificial pancreas (AP) tech and Tandem’s t:slim Insulin Pump. This agreement is an important step for bringing closed- loop artificial pancreas system to the diabetes community.
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Approvals and agreements were observed as the most adopted strategy in global artificial pancreas device systems industry. Few of the recent product launch and collaboration and others are listed below:
2018: In June, 2018, Insulet Corporation received FDA approval for its Omnipod DASH Insulin Management System.
2017: In January, 2017, Dexcom, Inc. expanded their global presence with a new Canadian headquarters in Burnaby, British Columbia. The headquarter aims to make it easier for more Canadians to get started with CGM.
2016: In February 2016, Cellnovo completed the full registration process required by the Italian Ministry of Health for medical devices and has been able to import and distribute the Cellnovo diabetes management system in Italy.
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