Artificial Pancreas Device System Market Size & Forecast Report, 2013 - 2024

The global artificial pancreas device system market size is expected to value USD 390.4 million by 2024, during the forecast period. The artificial pancreas device system industry is subject to witness substantial growth due to the growing occurrence of heart-related diseases such as diabetes, extensive research and development efforts by market players, and the growing need for advanced electronic systems in the healthcare sector such as glycemic control. Artificial pancreas device system allows easy monitoring of the blood glucose level in case of facilitates diabetes management. Globally, the artificial pancreas device system market is predicted to grow at a CAGR of 20.2% in the forecast period, providing numerous opportunities for market players to invest in research and development.

The growing occurrence of diabetes in both - developing and developed economies are attributed to changing food patterns, inherited diseases, obesity, physical inactivity, and high-calorie diet, all leading to the growth of the artificial pancreas device system industry in recent years. Moreover, the patient’s over-dependence on insulin, mainly in type 2 diabetes is a key factor for the growing demand for artificial pancreas device systems.

Other factors such as a rise in the awareness among the patient sab out treatment of diabetes and numerous opportunities for collaboration between FDA and privately-owned institutions are propelling the growth of the artificial pancreas device system industry in the forecast period. Though, the unavailability of highly skilled healthcare professionals in underdeveloped countries in African and South American regions is likely to hamper the growth of the market.

The pancreas is a part of the human body that is responsible for the production of multiple hormones such as insulin and glucagon, along with a few digestive enzymes to allow the proper digestion of food items. Insulin allows body cells to acquire glucose from the blood providing essential energy for their functioning, at the same time lowering blood glucose levels. While, glucagon secreted by pancreas is responsible for releasing glucose that is stored in the liver, raising overall blood glucose levels.

Type 1 diabetes commonly arises due to lower or almost negligible production of insulin that is needed to regulate blood glucose levels in the body. While, in type 2 diabetes production insulin or already present insulin is resisted by the body itself, causing adverse effects. The artificial pancreas device system is responsible for closely monitoring the glucose level by mimicking the functionality of a healthy pancreas. The common type of artificial pancreas device system utilized by a number of diabetes patients these days are constant glucose monitoring (CGM) devices and an insulin infusion pump.

Special types of devices are used such as blood glucose devices or glucose meters to regulate the constant glucose monitoring (CGM) system. A computerized system is implemented to manage constant glucose monitoring (CGM) and insulin infusion pump, providing consistent communication between the two devices. An artificial pancreas device system is also termed a closed-loop system or an automated insulin delivery system. The artificial pancreas device systems manage glucose levels in the blood while regulating or automatically changing the production of insulin in the blood to decrease high blood glucose levels such as hyperglycemia. The artificial pancreas device system also monitors and regulate low blood sugar level as required.

The artificial pancreas device system market is divided by region as North America, Europe, Asia-Pacific, Latin America, and Africa. North America has shown major growth in recent years owing to the rise adoption of the latest technologies in the healthcare sector and the existence of well-established healthcare infrastructure. Asia-Pacific region is predicted to hold the major market share in the artificial pancreas device system industry with massive growth in the forecast period. Countries such as India, China, and Singapore are leading the Asia-Pacific market with the changing food habits, genetic modification, and growing elderly population.

The key players in the artificial pancreas device system market are Bigfoot Biomedical Co., Johnson & Johnson Inc., Tandem Diabetes Care Incorporations, Pancreum, Incorporations, TypeZero Technologies, and Beta Bionics, Inc.

Market Segment:

Artificial Pancreas Device System Device Type Outlook (Revenue, USD Million, 2013 - 2024)
    • Threshold suspended device system
    • CTR System
    • CTT System

Artificial Pancreas Device System Regional Outlook (Revenue, USD Million, 2013 - 2024)
    • North America
        • the U.S.
        • Canada
    • Europe
        • Germany
        • the UK
    • the Asia Pacific
        • Japan
        • China
    • Latin America
        • Brazil
        • Mexico
    • the Middle East and Africa (MEA)
        • South Africa