Artificial Pancreas Device System Market to Incur Meteoric Growth During 2015-2025
Artificial Pancreas Device System Market: Drivers & Restraints
The Food and Drug Administration (FDA) is collaborating with private and government research institutions to improvise clinical studies and accelerate the development of the Artificial Pancreas Device Systems. In October 2012, the FDA released a document on requirements of clinical studies and premarket approval applications for the production Artificial Pancreas Device Systems. This will encourage the manufacturing of Artificial Pancreas Device Systems and drive the growth of the global Artificial Pancreas Device System market. The patients need to calibrate the continuous glucose monitor at equal intervals. Also, the continuous glucose monitoring sensors are subjected to biofouling and fibrosis when they are placed subcutaneously which alters the productivity of sensors. The FDA has identified issues in the components and software of insulin infusion pumps. The insulin used currently in the Artificial Pancreas Device Systems takes longer duration of time to completely absorb. Such factors related to Artificial Pancreas Device Systems could potentially hamper the growth of the global Artificial Pancreas Device Systems market.
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Artificial Pancreas Device System Market: Segmentation
Artificial Pancreas Device System market is classified on the basis product type and geography.
Based on product type, the global Artificial Pancreas Device System market is segmented into the following:
Threshold Suspend Device System
Control-to-Range (CTR) System
Control -to-Target (CTT) System
Artificial Pancreas Device System Market: Overview
The concentration of glucose in the blood of the patient is very dynamic and is affected by the patient’s physical activity and diet. The Artificial Pancreas Device System helps in the sustenance of life of type 1 diabetes patients. The Artificial Pancreas Device System does the function of beta cells of a healthy pancreas. Type 1 diabetes patient have to closely monitor blood glucose levels in order to avoid hyperglycemia and hypoglycemia which leads to long-term diabetes complications such as seizures, coma and even death. Thus, blood glucose monitoring on a daily basis is essential and the Artificial Pancreas Device System is the solution to it.
Artificial Pancreas Device System Market: Region-wise Outlook
Depending on geographic regions, global Artificial Pancreas Device System market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. India, China, USA, Indonesia, Pakistan and Japan are the top six countries with the highest number of estimated cases of diabetes. As a result, Asia Pacific and North America are anticipated to be the potential markets for the global Artificial Pancreas Device System market players.
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Artificial Pancreas Device System Market: Key Players
Some of the key market players in global Artificial Pancreas Device System market are Pancreum, LLC, Medtronic, Inc. and JDRF. In the near future, the global Artificial Pancreas Device System manufacturers have to develop products which will not only monitor but also adjust the blood glucose levels rapidly without the need of intervention of the patient.
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Artificial Pancreas Market – Global industry insights 2024
Type 1 diabetes characterized by inadequate insulin production requires daily administration of insulin to regulate the amount of glucose in body. This has kept the patients with type 1 diabetes engaged in regular monitoring and administration of insulin. According to the World Health Organization (WHO), globally the number of diabetes patients has increased from 108 million in 1980 to 422 million in 2014. According to Juvenile Diabetes Research Foundation (JDRF),