Artificial Pancreas Device System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Artificial Pancreas Device System Market covers analysis By Type (Control to Range, Control to Target, and Threshold Suspended Device Systems) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPHE100001232
  • Category : Medical Device
  • Status : Upcoming
  • No. of Pages : 129
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The artificial pancreas device system market is projected to reach US$ 3,585.75 million by 2028 from US$ 1,190.23 million in 2022; it is estimated to grow at a CAGR of 20.28% from 2022–2028.

Artificial pancreas device systems closely copy the glucose-regulating function of the fit pancreas. The device not only monitors the glucose levels in the body but also automatically adjusts the distribution of insulin to reduce blood glucose levels and lowers the incidence of low blood glucose with less or no input from patients. According to the Food and Drug Administration, the use of an artificial pancreas is associated with better control of blood sugar levels for people with type 1 diabetes compared with standard treatment.

The artificial pancreas device system market is segmented on the basis of type and geography. Based on geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the market, emphasizing on parameters such as market trends, technological advancements, and market dynamics, along with the analysis of the competitive landscape of the globally leading market players.

Strategic Insights

Lucrative Regions for Artificial Pancreas Device System Market

Lucrative Regions for Artificial Pancreas Device System Market

Market Insights

Growing Prevalence of Diabetes Bolsters Artificial Pancreas Device System Market

Diabetes is a life-threatening chronic disease with no specialized cure. The disease is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. It is one of the largest global health emergencies of the 21st century. Diabetes prevents the body from adequately regulating blood glucose levels. There are two types of diabetes, namely, diabetes type-I (also known as diabetes insipidus) and diabetes type II (also termed diabetes mellitus). Obesity, a sedentary lifestyle, and unhealthy eating habits are the key risk factors that are associated with the rapidly increasing diabetic population.

According to the International Diabetes Federation (IDF), in North America, the number of people with diabetes is expected to rise from ~46 million in 2017 to ~62 million by 2045; the disease prevalence is likely to surge by ~35% during the forecast period. According to the American Diabetes Association, ~30.3 million people, i.e., up to 9.4% of the US population, suffered from diabetes; out of this, 1.25 million children suffered from diabetes type I, in 2017. The National Institutes of Health also states that the incidence of diabetes type I is increasing rapidly worldwide, affecting a significant number of children and teenagers. According to the same source, ~84 million people in Southeast Asia suffer from diabetes in 2017. Out of these patients, 149,300 children suffer from diabetes type-I and require a daily dosage of insulin shots. Type 2 diabetes is the most prevalent form of diabetes, and has increased alongside cultural and societal changes. In high-income countries, up to 91% of diabetic adults have type 2 diabetes. According to the IDF, ~425 million people in the world were living with diabetes in 2017, and the number is expected to reach 629 million by 2045.

Diabetes of all types can lead to various complications in many parts of the body and can increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with this disease. Patients suffering from diabetes require frequent monitoring and external insulin administration.

Type Insights

Based on type, the artificial pancreas device system market is segmented into control to range, control to target and threshold suspended device systems. In 2022, the threshold-suspended device systems segment held the largest share of the market. The segment is further expected to register the highest CAGR during 2022–2028. With threshold suspend device systems, also called low glucose suspend systems, the delivery of insulin is suspended for a set time when 2 glucose levels are below a specified low level, indicating hypoglycemia. A threshold-suspended device helps reverse the drop in blood glucose levels. With threshold suspend device systems, also called low glucose suspend systems, the delivery of insulin is suspended for a set time when 2 glucose levels are below a specified low level. Threshold-suspended devices cannot respond to a low blood sugar (hypoglycemic) event.

Artificial Pancreas Device System Market, by Type – 2022 and 2028

Artificial Pancreas Device System Market, by Type – 2022 and 2028

Product launches and mergers and acquisitions are the highly adopted strategies by companies operating in the global artificial pancreas device system market. A few of the recent key product developments are listed below:

  • In June 2020, Medtronic received CE mark for the MiniMed 780G system to cure type 1 diabetes patients from the age group 7 to 80 years of age.
  • In April 2022, Abbott collaborated with Ypsomed, CamDiab to bring artificial pancreas system to Europe.
  • In January 2021, Medtronic launched its MiniMed 780G system in UK. It is an advanced hybrid closed-loop insulin delivery system that is used for the management of type 1 diabetes for people aged 7 to 80 years.

Artificial Pancreas Device System Market – Market Segmentation

In terms of type, the artificial pancreas device system market is segmented into control to range, control to target, and threshold suspended device systems. Based on Geography, the market is divided into North America (US, Canada, Mexico), Europe (France, Germany, UK, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa), South and Central America (Brazil, Argentina, and Rest of South and Central America)

Company Profiles

  • Defymed
  • Typezero Technologies, Inc
  • Insulet Corporation
  • Bigfoot Biomedical, Inc
  • Medtronic
  • Dexcom, Inc
  • Admetsys
  • Beta Bionics
  • Cellnovo
  • Tandem Diabetes Care, Inc

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REGIONAL FRAMEWORK
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

The List of Companies

  1. Defymed
  2. TypeZero Technologies, Inc.
  3. Insulet Corporation
  4. Bigfoot Biomedical, Inc.
  5. Medtronic
  6. Dexcom, Inc.
  7. Admetsys
  8. Beta Bionics
  9. Cellnovo
  10. Tandem Diabetes Care

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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