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Description
Global Artificial Pancreas Device Systems Market
Artificial pancreas device systems are medical devices which links glucose to an insulin infusion pump, monitor reading. These devices are meant to improve glycaemic control in patients with insulin-dependent diabetes and in control of nocturnal hypoglycaemia. The pancreas will secrete insulin and glucagon. Type-I diabetes occurs when the pancreas produces little or none of the insulin needed to regulate blood glucose. Type-II diabetes occurs when the pancreas does not produce enough insulin or the body becomes resistant to insulin that is present.
The burgeoning incidence of diabetes is the major factor, which is expected to trigger the artificial pancreas devices market. As per WHO, global diabetes cases were increased from 108 Mn to 422Mn from 1980 to 2014. As per, Juvenile Diabetes Research Foundation in 2015, around 1.5Mn cases of type-I were found. Furthermore, growing geriatric population, increase in the incidence of lifestyle disorders and obesity which further leads diabetes which in turns propel the growth of artificial pancreas devices market. However, the insulin used in artificial pancreas devices takes the long duration to get absorb, lack of awareness, a dearth of skilled professionals are the factors which are restraining the growth of artificial pancreas devices systems market.
Artificial Pancreas Device Systems Market is segmented on basis of technology, application, end user, and geographical regions.
Based on the technology, artificial pancreas device systems market is segmented
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- Threshold Suspended Device Systems
- Treat to Range/Control to Range (TTR/CTR)
- Treat to Target/ Control to Target (TTR/CTT)
Based on the end user, artificial pancreas device systems market is segmented
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- Hospitals
- Diagnostic centres
- Ambulatory surgical centres
Based on the application, artificial pancreas device systems market is segmented
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- Type 1 Diabetic Patients
- Type 2 Diabetic Patients
Favourable regulations, increased collaborations coupled with rising prevalence of diabetes are expected to boost the market. FDA is collaborating with government and private research institutions to enhance the clinical studies and to speed up the development of innovative technologies in artificial pancreas device systems. In 2012 October, FDA has released a document of requirements needed for the clinical studies and premarket approval applications for the production of artificial pancreas device systems. Juvenile diabetes research foundation (JDRF) funds for the type 1 DM research in order to commercialize first artificial pancreas in 2017. Technological innovations and product developments are propelling the market growth such as Tandem diabetes care outline its plans in APDS market by initiating R&D phase of its artificial pancreas system. Bigfoot Biomedical’s goal is to create a pump sensor union therapy which could be much simpler than the current counterparts. Beta bionics developed iLet Bionic Pancreas System which delivers both insulin and glucagon in type-1DM patients. Hence, all these products from the major players will be available soon which could increase the growth of the market.
Artificial Pancreas Device Systems Market is segmented into North America, Asia-Pacific, Europe, and the Middle East & Africa, Latin America. North America is expected to be a leader in artificial pancreas device systems market owing to high disposable income, growing prevalence of type 1DM, the high adaptation of technological advancements and favourable reimbursement policies. As per, Centre for diseases control and Prevention (CDC), type 1 DM accounts for around 5% of total diagnosed adults with diabetes cases in U.S. Europe artificial pancreas device system market is witnessed significant growth due to faster regulatory approvals and robust clinical trial pipeline. For example, AP@Home is a project initiated by the European Union and completed in 2015, which was focussed on the development of the combined device capable of administering insulin and monitoring glucose levels of the patient with the help of the single catheter. Asia Pacific artificial pancreas devices market is anticipated to offer lucrative opportunities due to high prevalence and incidence of diabetes, large population pool, and change in lifestyle of the people etc.
Some of the companies in the artificial pancreas device systems market are MEDIUM TECHNOLOGIES (UK), Medtronic (U.S), Tandem Diabetes Care, Inc. (U.S), Beta Bionics (U.S), Johnson & Johnson (U.S), Insulet Corporation (U.S) and Bigfoot Biomedical, INC.(U.S).
- In 2015, DreaMed Diabetes Ltd. received CE mark approval for GlucoSitter software used for tracking the glucose level and insulin administration.
- In 2015, Medtronic launched its first-generation artificial pancreas device systems called as MiniMed 530G
Report Outline:
- The report provides granular level information about the market size, regional market share, and forecast from 2017-2023
- The report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments, and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
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