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Artificial Pancreas Device System Market Growth, Size, Analysis, Outlook by Trends, Opportunities and Forecast to 2030

05-31-2022 02:10 PM CET | Health & Medicine

Press release from: We Market Research

Artificial Pancreas Device System Market

Artificial Pancreas Device System Market

Artificial Pancreas Device System Market size stood at USD 171.04 Million in 2020 and is projected to reach USD 990.51 million by the end of 2030 exhibiting a CAGR of 19.2% over the forecast period of 2021 to 2030.

The artificial pancreas was created with the primary goal of regulating precise blood glucose levels in type 1 diabetic patients. Various industry participants have performed numerous studies to improve diabetes management. For example, the Juvenile Diabetes Research Foundation (JDRF) launched the Artificial Pancreas Project in order to aid type 1 diabetes patients by building a commercially feasible artificial pancreas device that mimics the pancreas' normal function. Medtronic is a forerunner in the artificial pancreas device system market, with its R&D efforts leading the way. Medtronic introduced the "MiniMed 670G," the first artificial pancreas device. Similarly, BigFoot Biomedical is in the clinical trial phase of an artificial pancreas device. More than 20 research projects are presently underway around the world in the hopes of finding a solution.
Diabetes is a disease of the metabolism. Diabetes is caused by a variety of reasons, including an unhealthy lifestyle, an increase in the consumption of junk food and fast food, and a lack of exercise. These are also the main forces behind the artificial pancreas device market. Patients with diabetes who have their insulin levels monitored at home have shown an improvement in their health. The artificial pancreas device systems market is expected to be propelled by modern technology, digitalization, and wireless and portable devices. However, the artificial pancreas device systems market is anticipated to be hampered by regular maintenance and calibration of the glucose monitor, changes in the efficacy of sensors induced by fibrosis (as sensors are put subcutaneously), and the quality of insulin.

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The market is expected to develop as the prevalence of type 1 diabetes rises, demand for insulin self-administration rises, and the geriatric population grows. Furthermore, market expansion is fueled by increased public awareness and FDA collaboration with private institutes. However, the market's expansion is projected to be hampered by a scarcity of skilled specialists in developing regions such as Africa and South America. During the projection period, R&D in the sector of medical equipment is expected to provide new opportunities.

Global Artificial Pancreas Device System Market: Segmentations
By Key Players
Johnson & Johnson
Beta Bionics
Bigfoot Biomedical
Admetsys (pipeline product analysis)
Animas Corporation
Defymed
excom
Insulet
MedTech
Semma Therapeutics
Tandem Diabetes Care
TypeZero Technologies
Pancreum, Inc.
Cellnovo
F.Hoffeman-La Roche Ltd
Inreda Diabetic B.V.
Roche Holding AG
Medtrum Technologies Inc.
DreaMed Diabetes Ltd

Artificial Pancreas Device System Market based on device type
• Threshold suspend device systems
• Control- to-Range systems (CTR)
• Control-to- Target systems (CTT)

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

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Key Questions Answered in This Report:
1. How has the global artificial pancreas device systems market performed so far and how will it perform in the coming years?
2. What are the key regional markets?
3. What has been the impact of COVID-19 on the global artificial pancreas device systems market?
4. What is the breakup of the market based on the device type?
5. What is the breakup of the market based on the treatment type?
6. What is the breakup of the market based on the end-user?
7. What are the various stages in the value chain of the industry?
8. What are the key driving factors and challenges in the industry?
9. What is the structure of the global artificial pancreas device systems market and who are the key players?
10. What is the degree of competition in the industry?

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About We Market Research
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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