Artificial Pancreas Device System Market
Artificial Pancreas Device System Market - Global Industry Assessment & Forecast
#
Pages:
140
2022
Feb - 2022
VMR-1335
Segments Covered
By
Device Threshold Suspended Device System, CTR System, CTT System
-
By
Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
 Base Year:
|
2022 |
| Forecast
Years:
|
2023 - 2030 |
 Historical
Years:
|
2017 - 2021 |
 Revenue
2022: |
USD 107.35 Million |
 Revenue 2030:
|
USD 285.40 Million |
 Revenue CAGR
(2023 - 2030): |
13.00% |
Fastest Growing Region (2023 -
2030)
|
Asia Pacific |
Largest Region (2022):
|
Europe |
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Market Synopsis:
Global Artificial Pancreas Device System market is valued at USD 107.35 Million in 2022 and is projected to attain a value of USD 285.40 Million by 2030 at a CAGR of 13.00% during the forecast period, 2022–2028. The market is being driven by factors such as rising diabetes prevalence, intense R&D activities by industry players, and rising demand for automated glycemic control systems. The blood glucose level in diabetic patients is controlled by an artificial pancreas device system, and industry participants are doing several studies to improve diabetes treatment. Furthermore, automated glycemic control technologies include insulin pumps, artificial pancreas, and insulin pens, among other devices. The flexibility, correct dosing, automatic detection of glucose level, short and rapid-acting insulin, and ease of use are all factors driving up demand for these devices.
Artificial Pancreas Device System Market Size, 2022 To 2030 (USD Million)
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Increasing Prevalence of Diabetes and Geriatric Population Globally
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The industry's expansion will be fueled by the world's ageing and overweight population. According to the World Health Organization, the global population of people aged 60 and more will increase from 12% in 2015 to roughly 22% in 2050. With increasing age, muscle strength and physical labor capacities deteriorate. The Artificial Pancreas Device System market will continue to grow as more medical devices are used to support and actuate body movement.
Technical Failure and Side Effects of Artificial Pancreas Device Systems
Following an unexpected insulin overdose by a diabetes patient while using the DIY APS in May 2019, the US Food and Drug Administration issued a warning to Do-it-Yourself Artificial Pancreas Systems (DIY APS). Such technological problems may have an impact on the DIY APS adoption rate, stifling market growth over the projection period.
Market Segmentation:
The Global Artificial Pancreas Device System market is segmented by Device into Threshold suspended device system, CTR System and CTT System. Based on Region, the Artificial Pancreas Device System Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Asia Pacific is Expected to Experience a Rapid Growth
During the projected period, Asia Pacific is expected to grow at the fastest rate. Because of their lifestyle, genetic alteration, urbanisation, and ageing, this region has the largest number of diabetes sufferers. Diabetes incidences are predicted to rise throughout the forecast period, boosting market growth. According to a study published by NCBI, Asian countries account for more than 60% of the world's diabetes population, fueling the region's APDS market expansion. Furthermore, the market is likely to be boosted by industry players establishing their centres across the region.
Key Players:
Key players operating in the global Artificial Pancreas Device System market include Medtronic Plc., Medtrum Technologies Inc., Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Inc., Bigfoot Biomedical, Insulet Corporation, Pancreum, Inc., TypeZero Technologies, Inc., DreaMed Diabetes Ltd, and Inreda Diabetic BV.
The Artificial Pancreas Device System market is segmented as follows:
Parameter
Details
Segments Covered
By Device
By Region
Regions & Countries Covered
Companies Covered
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
impact analysis
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Artificial Pancreas Device System Market is tabulated as follows:
Vantage Market
Research | 17-Feb-2022
FAQ
Frequently Asked Question
What is the global demand for Artificial Pancreas Device System in terms of revenue?
-
The global Artificial Pancreas Device System valued at USD 107.35 Million in 2022 and is expected to reach USD 285.40 Million in 2030 growing at a CAGR of 13.00%.
Which are the prominent players in the market?
-
The prominent players in the market are Medtronic Plc., Medtrum Technologies Inc., Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Inc., Bigfoot Biomedical, Insulet Corporation, Pancreum, Inc., TypeZero Technologies, Inc., DreaMed Diabetes Ltd, and Inreda Diabetic BV..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 13.00% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
-
The driving factors of the Artificial Pancreas Device System include
- Increasing Prevalence of Diabetes and Geriatric Population Globally
Which region accounted for the largest share in the market?
-
Europe was the leading regional segment of the Artificial Pancreas Device System in 2022.
