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Artificial Pancreas Device Systems Market Size By Device Type, By End User & Forecast 2023-2032

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Increasing Prevalence of Diabetes and Surge in Initiatives by Market Players Drive the Growth of the Artificial Pancreas Device Systems Market

The artificial pancreas is also broadly called as the ‘Closed-Loop Control System that is an ‘All-In-One’ diabetes managing system that proficiently tracks blood glucose levels by applying a continuous glucose monitor (CGM) and mechanically provides the hormone insulin throughout its greatest need through an insulin pump. The closed-loop artificial pancreas is made of a visibly worn insulin pump that connects wirelessly with the CGM. Pancreatitis is one of the major causes of the growth in mortality rates globally.

The rising incidence of diabetes due to aged, obesity, and a sedentary lifestyle is one of the major factors backing to the growth of artificial pancreas device systems market. Risk factors, such as obesity and overweight, are leading to an upsurge in the incidence of diabetes. As per the WHO, in 2016, more than 1.9 billion adults were heavy, of which, about 650 million people were obese. These factors are expected to boost the prevalence of diabetes, thus fuelling the need for APDS. Moreover, as per the same source, the total number of people with diabetes is expected to rise from 171 million in 2000 to 366 million in 2030. Furthermore, the prevalence of diabetes is growing in low and middle-income regions, which is expected to create huge growth chances for market players in these unexploited markets. Also, the growing dependency of type 2 diabetes on insulin is estimated to create chances for the artificial pancreas devices market during the forecast period.

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The global demand for artificial pancreas device systems market was predicted to be about USD 210 million in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 1,000 million. The industry players and analysts predict the global Artificial Pancreas Device Systems market growth of around 18% in terms of CAGR. During the forthcoming years, the rising prevalence of diabetes, rigorous R&D efforts by industry players, and growing demand for automated systems for glycemic control are the factors motivating the industry growth. Artificial pancreas device systems (APDS) regulates the blood glucose level in diabetes patients, and industry players are directing various researches for better diabetes management. The growth of the market is majorly credited to the growing geriatric population, rising incidence of diabetes, and the increasing prevalence of obesity. However, the higher cost related to the complete installation process of the equipment and the unfavourable reimbursement policies are the major factors that are widely obstructing the growth rate of this market.

Some of the leading and top artificial pancreas device systems companies in the global artificial pancreas device systems market include Medtronic Plc, Bigfoot Biomedical, Johnson & Johnson Services Inc., Tandem Diabetes Care, Inc., Pancreum, Inc., TypeZero Technologies, LLC, and Beta Bionics, among others. The leading five players such as Medtronic Plc, Johnson & Johnson Services Inc., Tandem Diabetes Care, Inc., Beta Bionics, Pancreum, Inc. hold around 60% market share of the global artificial pancreas device systems market.

On the basis of type, the global artificial pancreas device systems market can be segmented into threshold suspended device system, control to range (CTR) system, and control to target (CTT) system, with the ‘threshold suspended device system’ category having the leading market share of about 45 percent, closely followed by the “control to target (CTT) system” category at about 15 percent of the global artificial pancreas device systems market share.

On the basis of end user, the market can be bifurcated into hospitals, clinics, homecare, ambulatory surgical centers, and others. In terms of geography, North America region held the leading market share of around 40% among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global Artificial Pancreas Device Systems market.

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