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Artificial Pancreas Device System Market Share - Detailed Analysis of Current Industry Figures with Forecasts Growth By 2028

02-07-2020 02:51 PM CET | Health & Medicine

Press release from: CRIFAX

Artificial Pancreas Device System Market Share - Detailed

CRIFAX added a report on 'Global Artificial Pancreas Device System Market, 2019-2027' to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, recent trends, mergers and acquisitions, region-wise growth analysis along with challenges that are affecting the growth of the market are also stated in the report.

The growth of the global Artificial Pancreas Device System Market can be attributed to enhancement in healthcare services and better medical facilities around the world over the forecast period (2019-2028). Health spending in the United States is estimated to grow at an average of 5.5%, by reaching an estimated value of USD 6 trillion by 2027. This can be attributable to rising prices of healthcare products and services during the period. Healthcare expenditure comprises of three key sectors namely prescription drugs, hospital spending and physician and clinical services. Prescription drugs in the U.S. achieved an estimated growth rate of 3.3% in 2018 which is further expected to increase to 4.6% in 2019. On the other hand, spending on prescription drugs is estimated to rise by an average of 6.1% per year for the period (2020-2028).

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Moreover, a rise in Medicare and Medicaid spending accompanied by rising wages and employment rates are anticipated to aid the growth of the market over the forecast period.

The rate of growth of Medicare services at an estimated rate of 5.9% in 2018, owing to high demand for Medicare services and is predicted to reach an estimated 7.1% in 2019. On the other hand, Medicaid spending achieved a lower growth rate of 2.2% in 2018 and is predicted to grow at 4.8% in 2019. The health sector held the second highest position holding 7.7% share in 2018, out of the worldwide growth of R&D sector. Globally, the number of persons employed grew from 2.5 million in 2008 to 3.5 million in 2017. On the other hand, in Europe region, the number of persons employed increased from 1 million in 2008 to 1.4 million in 2017. Additionally, the expenditure on private health insurance is anticipated to achieve 5.1% growth every year during the forecast period.

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Furthermore, to provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the globalArtificial Pancreas Device System market report. Moreover, the report consists of market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter's five forces analysis, absolute $ opportunity and anticipated cost structure of the market.
Get more information on this report: https://www.crifax.com/reports/artificial-pancreas-device-system-market/1001346

CRIFAX
Email: sales@crifax.com
U.K. Phone: +44 161 394 2021
U.S. Phone: +1 917 924 8284

About CRIFAX

CRIFAX is driven by integrity and commitment to its clients, and provides cutting-edge marketing research and consulting solutions with a step-by-step guide to accomplish their business prospects. With the help of our industry experts having hands on experience in their respective domains, we make sure that our industry enthusiasts understand all the business aspects relating to their projects, which further improves the consumer base and the size of their organization. We offer wide range of unique marketing research solutions ranging from customized and syndicated research reports to consulting services, out of which, we update our syndicated research reports annually to make sure that they are modified according to the latest and ever-changing technology and industry insights. This has helped us to carve a niche in delivering 'distinctive business services' that enhanced our global clients' trust in our insights, and helped us to outpace our competitors as well.

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