Artificial Pancreas Device System Market 2028 Consumption Analysis by Recent Trends, Development Forecast, and Applications | Medtronic Plc., Medtrum Technologies Inc., Tandem Diabetes Care, Inc., Johnson & Johnson,

Artificial Pancreas Device System (APDS) Market Is Witnessing Strong Growth Due To Growing Cases Of Diabetes Across The World

Overview:

The artificial pancreas device system uses a glucose monitor that links to an insulin infusion pump. The pump automatically adjusts its delivery of insulin based on the glucose level measured in the bloodstream. With this, the ideal artificial pancreas device system should require minimal patient input. Currently, a number of different designs are available, including low glucose suspend device systems and bihormonal control-to-target systems. The Artificial Pancreas Device System market is growing and the growth of the market will be driven by factors such as increasing geriatric population, technological advancements, and increasing government funding.

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Market Dynamics:

Growing cases of diabetes all over the world is expected to boost growth of the global artificial pancreas device system (APDS) market during the forecast period. As the APDS is used for automatic delivery of insulin depending on glucose levels, it is used for treating patients with diabetes. Thus, demand for these devices increase with increasing cases of diabetes. For instance, in 2021, according to the International Diabetes Federation, nearly 537 million adults aging from 20 to 79 years had diabetes and the number of people living with diabetes is expected to grow to 643 million by 2030 and 783 million by 2045.

However, lack of skilled professionals in underdeveloped regions such as South America and Africa is expected to hinder growth of the global artificial pancreas device system (APDS) market over the forecast period.

Impact of COVID-19:

The impact of COVID-19 pandemic affected various industries including the medical device industry. The virus outbreak spread across more than 200 countries, which led to implementation of stringent regulations by countries and shutting down borders. During this period several industrial operations were disrupted and demand for products declined. Thus, the global artificial pancreas device system (APDS) market witnessed negative impact of the COVID-19 pandemic. However, ease in stringent lockdown rules and lowering COVID-19 cases is projected to support the market growth.

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Key Takeaways:

• The global artificial pancreas device system (APDS) market is expected to grow, with a CAGR of 14.1% over the forecast period due to increasing approval and launch of new technologically developed APDSs. For instance, in September 2020, The U.S. Food and Drug Administration (FDA) granted approval to artificial pancreas device system, the MiniMed 770G system developed by Medtronic for the children aged 2 to 6 years with type 1 diabetes.

• North America is anticipated to witness significant growth in the global artificial pancreas device system (APDS) market over the forecast period. This is due to high demand for technologically developed devices in the U.S. and increasing cases of diabetes in this region.

• Major players functioning in the global artificial pancreas device system (APDS) market comprise Tandem Diabetes Care Inc., Beta Bionics Inc., Roche Holding AG, Bigfoot Biomedical Inc., Medtronic Inc., Dexcom Inc., Johnson & Johnson, Inreda Diabetic B.V., and Insulet Corporation.

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This release was published on openPR.