Global Artificial Pancreas Device System (APDS) Market Size will Reach US$ 0.25 Billion by 2015–2024

Technological advancements to drive growth of the global artificial pancreas device system (APDS) market

In 2016, the U.S. FDA approved a hybrid closed-loop artificial pancreas device system (APDS) MiniMed 670G which is an automated system. The continuous glucose monitor in the system automatically sends signals to the insulin pump to deliver insulin when the glucose level in body goes beyond the acceptable limit. Thus, there is no need for the user to stimulate the release of insulin every time the glucose level is abnormal. This provide the user freedom to perform his/her daily activities. Such advancement in T1D management is expected to be highly preferred by the users and medical community, leading to higher advocacy to use this device especially among the patient group using insulin pumps. Moreover, in mid-2018, a study will test a bihormonal “bionic pancreas” system at the Massachusetts General Hospital (Boston) and Boston University. This would further fuel the artificial pancreas device system (APDS) market growth and attract more investments.

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Strategic collaborations fostering artificial pancreas device system (APDS) market growth

There were over 20 projects undertaken by the industry payers in 2015 with respect to development of artificial pancreas device system (APDS). Bigfoot Biomedical acquired Asante’s FDA approved Snap insulin pump technology in 2015 and at the same time signed a development agreement with Dexcom to integrate Dexcom’s CGM in its under development artificial pancreas device system (APDS). Dexcom is in collaboration with many other market players such as Insulet Corporation, Animas Corporation, and International Diabetes Closed Loop wherein, these companies would be incorporating Dexcom’s CGM in their artificial pancreas device system (APDS). Such collaborations are expected to expedite market entry for new artificial pancreas device system (APDS)s and thus drive the growth of artificial pancreas device system (APDS) market.

The artificial pancreas device system (APDS) market growth would be mainly driven by increasing adoption of the highly useful systems the large base of diabetes type 1 patients, further supplemented by ever increasing incidence of type 1 diabetes. According to the World Health Organization (WHO), number of diabetes patients worldwide increased from 108 million in 1980 to 422 million in 2014. According to Juvenile Diabetes Research Foundation (JDRF), there were around 1.5 million type 1 diabetics worldwide in 2015. JDRF funds research in diabetes 1 and the non-profit organization expected the first artificial pancreas to be commercialized in 2017. According to the Center for Disease Control and Prevention (CDC), type 1 diabetes accounts for around 5% of the total diagnosed diabetes cases in adults in the U.S. Developed regions are expected to dominate the artificial pancreas device system (APDS) market size, as these regions are early adopters of disruptive technologies. With the introduction of this technology, market for insulin pens and injectors is expected to be impacted negatively.

Lack of reimbursement to hinder artificial pancreas device system (APDS) market growth

The prevalence of T1D in the U.S. is 1.35 million which is expected to increase to 5 million by 2050 as per the estimates (2016) by JDRF. Each year 40,000 people are diagnosed with T1D in the U.S. according to the JDRF. With this huge patient base, potential opportunity for artificial pancreas device system (APDS) looks considerably high at global level. However, lack of reimbursement for glucose sensors is expected to inhibit the uptake of artificial pancreas device system (APDS). With an average cost of US$ 6000-7000, adoption of artificial pancreas device system (APDS) is estimated to be restricted among rich T1D patients. Furthermore, only a few T1D patient group prefer insulin pumps for treatment. According to the 2013 report of JDRF, about 350,000 insulin pumps were sold in the U.S. Thus, creating awareness should also be an objective of artificial pancreas device system manufacturers to increase its adoption.

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