Market Size of Global Artificial Pancreas Device System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Artificial Pancreas Device System Market Analysis
The Artificial Pancreas Device System market studied is expected to grow with an anticipated CAGR of 18.2%, during the forecast period.
The COVID-19 pandemic negatively affected the treatment and diagnostics procedures other than COVID-19 which had a significant impact on the studied market as it not only affected diagnostic and treatment procedures but also research and development activities in the area. For instance, In June 2020, The World Health Organization survey, which was completed by 155 countries over a 3-week period in May, stated that treatment and diagnosis for chronic diseases like diabetes were affected by COVID-19. It also stated that 49% of the countries surveyed had partially or completely disrupted services for treatment for diabetes and diabetes-related complications. Therefore, COVID-19 had an adverse impact on the studied market.
In addition, the increasing prevalence of diabetes, technological advancements, increasing research and development activities by key players, and increasing demand for automated systems for glycemic control are actively affecting the growth of the studied market.
As per the International Diabetes Federation, Diabetes Atlas 10th edition, 2021 report, the number of adults (20-79 years) with diabetes was 536.6 million in 2021 and it is predicted to reach 783.2 million by 2045. The prevalence of diabetes worldwide was 10.5% in 2021 and is projected to be 12.2% in 2045. As per the same report, the number of prevalent cases of type 1 diabetes in children and adolescents (0-19 years) was 1,211,900, and the number of new cases in the same age group was 149,500 in 2021. Thus, considering the mentioned facts and key drivers, the artificial pancreas device system market is anticipated to propel over the forecast period. As the artificial pancreas is mainly used to help people with type 1 diabetes. The high burden of diabetes is expected to augment the studied market.
Additionally, the advancements in technology and increasing product approvals, along with partnerships and collaborations by key players are helping in the market growth. For instance, in September 2020, the MiniMed 770G hybrid closed loop system from Medtronic plc was approved by the United States Food and Drug Administration (FDA). The MiniMed 670G system, offers modern SmartGuard technology, with the advantages of smartphone connectivity and a broader age indication down to the age of two. These developments are likely to augment the market growth.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. however, the high cost of the device systems and safety concern is likely to impede the market growth.
Artificial Pancreas Device System Industry Segmentation
As per the scope of the report, an artificial pancreas device system is a medical device that links a glucose monitor to an insulin infusion pump where the pump automatically takes action (using a control algorithm) based on the glucose monitor reading. The Artificial Pancreas Device System (APDS) market is segmented by Device type (Threshold Suspended Device System, Control to Range (CTR) System, and Control to Target(CTT) System), End User (Hospitals and Clinics and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Device Type | |
| Threshold Suspended Device System | |
| Control To Range (CTR) System | |
| Control to Target (CTT) System |
| By End User | |
| Hospitals and Clinics | |
| Others |
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Global Artificial Pancreas Device System Market Size Summary
The artificial pancreas device system market is poised for significant growth, driven by the increasing prevalence of diabetes and technological advancements in glycemic control systems. The market's expansion is supported by ongoing research and development activities by key industry players, alongside a rising demand for automated solutions to manage diabetes effectively. Despite the adverse impact of the COVID-19 pandemic on diagnostic and treatment procedures, the market is expected to recover and thrive, fueled by innovations and product approvals. The artificial pancreas devices, particularly those designed to assist individuals with type 1 diabetes, are gaining traction due to their ability to enhance health outcomes by regulating blood glucose levels. However, challenges such as the high cost of these devices and safety concerns may pose obstacles to market growth.
North America is anticipated to lead the market, attributed to the high prevalence of diabetes, a robust healthcare infrastructure, and a concentration of industry players in the region. The presence of major companies like Medtronic plc, Tandem Diabetes Care, Inc., and DexCom, Inc. contributes to the competitive landscape, which is characterized by both global and regional players. The market's fragmented nature allows for a diverse range of products and innovations, such as the MiniMed 780G and the t:slim X2 insulin pump with Control-IQ technology, which are expected to drive growth. Partnerships and collaborations among key players further bolster market dynamics, ensuring continued advancements in artificial pancreas technology.
Global Artificial Pancreas Device System Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Diabetes
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1.2.2 Technological Advancements and Increasing R&D activities by Key Players
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1.2.3 Increasing Demand for Automated Systems for Glycemic Control
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1.3 Market Restraints
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1.3.1 High Cost of the Device Systems and Safety Concern
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Device Type
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2.1.1 Threshold Suspended Device System
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2.1.2 Control To Range (CTR) System
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2.1.3 Control to Target (CTT) System
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2.2 By End User
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2.2.1 Hospitals and Clinics
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2.2.2 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Artificial Pancreas Device System Market Size FAQs
What is the current Global Artificial Pancreas Device System Market size?
The Global Artificial Pancreas Device System Market is projected to register a CAGR of 18.20% during the forecast period (2024-2029)
Who are the key players in Global Artificial Pancreas Device System Market?
Medtronic plc , Tandem Diabetes Care, Inc, Dexcom, Inc. , Insulet Corporation and Defymed are the major companies operating in the Global Artificial Pancreas Device System Market.
