Artificial Pancreas Market

SKU: DMMD688 | Last Updated On: Jul 14 2022 | Available Formats

> Artificial Pancreas Market Expected to reach a high CAGR of 11% By 2029: DataM Intelligence

Artificial Pancreas Market is segmented By Type (Threshold Suspend Device Systems, Non-threshold Suspend Devices System, Control to Range System, Control to Target System), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2022-2029

Artificial Pancreas Market size is estimated to reach USD XX million by 2029, growing at a CAGR of 11% during the forecast period (2022-2029). An artificial pancreas is a medical device that can automatically monitor the blood glucose level and accordingly provide insulin to an individual with diabetes. The artificial pancreas is a boon for people suffering from type II diabetes, where the body cannot produce a sufficient amount of insulin. The FDA is supporting people suffering from diabetes, diabetic care providers, medical device manufacturers, and research scientists to advance the development of the artificial pancreas.  

The global artificial pancreas market growth is driven by the increasing prevalence of diabetes, intensive R&D efforts by industry players and rising demand for automated systems for glycemic control are the factors driving the market growth.

Technological advancements and increasing R&D activities will drive the market growth   

Growing technological integration will fuel the market for artificial pancreas over the forecast period. The market has been witnessing increased technological integration, which is expected to boost the market growth. The increased need for an Artificial Pancreas Device System (APDS) to mimic the function of a healthy pancreas has driven the vendors to focus intensively on advanced technologies Integration of sensors, software, and related algorithms are required for the effective functioning of APDS. For instance, Medtronic’s MiniMed 530G system integrates with SmartGuard Technology, which helps to control glucose levels adequately.

Additionally, the rise in demand for automated systems that control glucose levels owing to their flexibility, accuracy and ease of use, drives the growth of the studied market. According to the International Diabetes Federation, Diabetes Atlas Ninth Edition 2019, approximately 463 million adults of 20-79 years were living with diabetes in 2019 and by 2045 it is estimated to rise to 700 million globally. Additionally, more than 1.1 million children and adolescents are living with type 1 diabetes in 2019 worldwide and 374 million people are at increased risk of developing type 2 diabetes. Thus, considering the mentioned facts and key drivers, the artificial pancreas market is anticipated to drive over the forecast period.

The low penetration rates will hamper the growth of the market

The low penetration rates were affecting the market growth. The APDS has low penetration in the market owing to several issues related to the diagnosis of disease, functionality of the device, and reimbursements in the market. Also, there are many issues related to the functioning of APDS. For instance, Medtronic’s Minimed 530G is the only APDS that features a threshold suspend function, which automatically halts the insulin delivery once the glucose levels reach the threshold value. This indicates that there are limited devices that function similarly to a healthy pancreas. Such issues have affected the adoption rates substantially. Thus these factors will hamper the growth of the market in the forecast period.

Artificial Pancreas Market Scope

Metrics

Details

Market CAGR

11%

Segments Covered

By Type, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

COVID-19 Impact Analysis

The ongoing COVID-19 pandemic has moderately affected the demand for an artificial pancreas. As the governments and healthcare professionals across the globe are focusing on testing and treatment of COVID-19 affected patients, there is a need for quarantine units to prevent the spread of the virus. Moreover, the lockdown has created stress among the people having chronic diseases such as diabetes related to medicines and diagnostic tools.

However, the usefulness and safety of artificial pancreas in adult patients with severe coronavirus disease (COVID-19) have been reported. Using artificial pancreas might reduce the exposure of patients and healthcare workers to COVID-19 and limit the use of personal protective equipment during the pandemic. Artificial pancreas devices measure glucose in the subcutaneous interstitial fluid, but the accuracy of this technique has not been established in critically ill patients.

Segment Analysis

The threshold suspend device systems segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)        

The threshold suspended device system helps in reversing a dangerous drop in blood glucose level (hypoglycemia) or reducing its severity by temporarily suspending insulin delivery when the glucose level falls to or approaches a low glucose threshold. These are sometimes referred to as "low glucose suspend systems.". The regulation of glucose in patients with diabetes is of utmost importance for an improved health outcome. Hence the threshold suspended device system plays a vital role in managing hypoglycemia.

The key players are involved in the innovation and launch of novel threshold suspend feature-based artificial pancreas device systems. For instance, in June 2020, Tandem Diatetes Care, Inc., received U.S. Food and Drug Administration (FDA) clearance of an expanded pediatric indication for the t: slim X2 insulin pump with Control-IQ technology for children aged six and older. Control-IQ technology is intended for use with a compatible integrated continuous glucose monitor to automatically increase, decrease, and suspend delivery of basal insulin based on iCGM readings and predicted glucose values. Hence, the threshold suspended device systems segment is expected to grow significantly in the forecast period.

Geographical Analysis

North America region holds the largest market share of the global artificial pancreas market

North America dominates the global artificial pancreas market. The growing incidence of diabetes is expected to drive the adoption rates of the artificial pancreas in the region. According to the Centers for Disease Control and Prevention (CDC)’s National Diabetes Statistics Report, 2020, an estimated 34.2 million people of all ages had diabetes in the United States in 2018 and the percentage of adults with diabetes increased with age reaching 26.8% among those aged 65 years and above. Also, it has been estimated that nearly 88 million American adults have prediabetes in 2018.

According to Institute for Health Metrics and Evaluation, the prevalence rate of Diabetes mellitus in 2019 was estimated at 11,847 per 100,000 and 11,366 per 100,000 in 2018 in the United States. As per the Population Reference Bureau’s Population Bulletin “Ageing in the United States”, the number of Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060. Thus, with the increasing prevalence of diabetes and rise in the geriatric population will drive the growth of the market in the region.

Competitive Landscape

The artificial pancreas market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Medtronic PLC, Johnson & Johnson, Tandem Diabetes Care, Inc., Pancreum, Inc., Bigfoot Biomedical, Inc., DexCom, Inc., Beta Bionics, Inc., Admetsys Corp., Insulet Corporation, and Defymed among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Artificial Pancreas Market globally. For instance, in August 2018, DexCom, Inc. acquired Type Zero Technologies, Inc, a company that designed a system to manage and regulate insulin delivery from insulin pumps, thereby positioning itself in the market of artificial pancreas technology.

Medtronic PLC

Overview:

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical-Surgical Portfolio, and Diabetes Operating Unit.     

Product Portfolio:

MINIMED 770G SYSTEM:  Automatically delivers and adjusts background insulin every 5 minutes and connects directly with a compatible smartphone, allowing to view sugar trends and insulin delivery on the go. Enabled for future software upgrades, when such become available.

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