What is Artificial Pancreas Device System Market?
Artificial organs are man-made bio-artificial organs that are implanted in the body to replace or support natural organs. Artificial organs mainly include artificial heart, pancreas, kidney, and cochlear implants. They consist of biocompatible materials such as polymers, biologicals, ceramics, and metals. Various technologies such as sensors, biomaterials, and innovative delivery systems are implanted in the artificial pancreas. In addition, the artificial pancreas performs the same function as the natural pancreas and helps the patient to live a high-quality life. The artificial pancreatic device system is able to almost perfectly replicate the regulatory functions of glucose in a healthy organic pancreas. These systems generally include three types of devices: an insulin pump or infuser, a constant glucose monitoring system, and a glucometer or other blood glucose meter. The meter is required to support the calibration of the CGM. This can also be done with a computer that can manage an algorithm to control the CGM using values derived from the blood glucose meter. An artificial pancreatic device system is usually a closed system that follows an automated process for delivering insulin to a patient. It can, therefore, be completely autonomous and work without manual input, similar to an organic pancreas.
Highlights from Artificial Pancreas Device System Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Medtronic (Ireland), Johnson & Johnson (United States), TypeZero Technologies (United States), Tandem Diabetes Care (United States), Pancreum (United States), Insulet Corporation (United States), Beta Bionics, Inc. (United States), Animas Corporation (United States), Bigfoot Biomedical (United States), NIKKISO Co., Ltd. (Japan), Admetsys Corporation (United States) and Dexcom (United States) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Artificial Pancreas Device System market throughout the forecasted period.
Medtronic (Ireland), Johnson & Johnson (United States), TypeZero Technologies (United States), Tandem Diabetes Care (United States), Pancreum (United States), Insulet Corporation (United States), Beta Bionics, Inc. (United States), Animas Corporation (United States), Bigfoot Biomedical (United States), NIKKISO Co., Ltd. (Japan), Admetsys Corporation (United States) and Dexcom (United States) are some of the key players profiled in the study. Artificial Pancreas Device System Market Segmentation:
Scope | Sub-Segments |
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Type | Control-to-Range (CTR) System, Threshold Suspended Device System, Control - to - Target (CTT) System, Bi-Hormonal Control System and Insulin-Only System |
Components | Insulin Pump,Continuous Blood Glucose Monitor |
Distribution Channel | Online,Offline |
Age Group | Children,Adults |
Treatment Type | Type 1 Diabetes,Type 2 Diabetes |
On the basis of geography, the market of Artificial Pancreas Device System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in the Awareness of the Population and Collaboration of FDA with Private Institutes and A Rise in Fully Automated System Which Minimizes Patient Intervention
Market Growth Drivers:
Rising Prevalence of Type-1 Diabetes, Increase In Demand for Organ Transplant and Growing Prevalence of Pancreatic Disorders, Increasing Demand for Insulin Self-Administration and Rising Geriatric Population
Challenges:
Growing Awareness about the Side Effects of the Treatment Modality
Restraints:
Lack of Skilled Professionals in Underdeveloped Regions and Ineffectiveness of This Technology in Treating Athletic Diabetes
Opportunities:
Increase in Funds Provided By the Government for Providing a Better Quality of Treatment and R&D In the Field Of Medical Equipment Is Anticipated To Create New Opportunities
Key Target Audience
Manufacturers of Artificial Pancreas Device System, Suppliers and Distributors Artificial Pancreas Device System, End-Users, Potential Investors, Market Research Firms and Others
Market Leaders & Development Strategies
In February 2023, Insulet Corporation (Insulet or Company), a global leader in tubeless insulin pump technology under the Omnipod® brand of products, acquired the assets of Automated Glucose Control LLC (AGC) of Palo Alto, California. Develops and commercializes best-in-class automated insulin delivery technology.
In April 2023, Medtronic plc., a global leader in medical technology of the US Food and Drug Administration (FDA), approved the MiniMed™ 780G system with Fingerstick-free Guardian 4 sensor in SmartGuard™ technology. This milestone has been approved as the only system with meal detection technology that provides automatic adjustments and corrections to glucose levels every 5 minutes for both basal (background) and bolus (mealtime) insulin needs. The system provides insulin to account for cases where the user sometimes forgets to take a bolus or underestimates the number of carbohydrates in a meal.