Artificial Pancreas Device System Market 2022: Global Industry Analysis, Size, Share, Growth, Trends and Forecast to 2030

 The global Artificial Pancreas Device System Market size stood at USD 171.04 Million in 2020 and is projected to reach USD 990.51 million by the end of 2030 exhibiting a CAGR of 19.2% over the forecast period of 2021 to 2030.

The primary drivers behind the growth of artificial pancreas devices are the growing rate of diabetes and the aging population worldwide. Developing Technological advancements coupled with the increased investment in the research and development processes are the primary factors expected to boost the market. In addition, the growing demand for automated systems to control the glucose level due to its flexibility, precision, and simplicity of use, will drive the expansion of the market.

In the International Diabetes Federation report, Diabetes Atlas Ninth Edition 2019, around 463 million people aged 20-79 years had diabetes in the year 2019, and by 2045, the number is projected to reach 700 million across the globe. In addition, over 1.1 million adolescents and children had type 1 diabetes in 2019 globally, and 374 million are at chance of developing Type 2 Diabetes. So, based on the above facts and the key drivers, the artificial pancreas market is predicted to grow over the forecast period.

Artificial Pancreas Device System Market: Key Trends

The Threshold Suspended Device System Market is anticipated to rise over the forecast period.

A threshold-suspended device helps reverse the dangerous drop in blood glucose levels (hypoglycemia) by the temporary suspension of insulin delivery when the glucose level falls to a very low glucose threshold. They are often called ""low levels of glucose suspension systems."" The control of glucose in diabetic patients is essential to ensure a better health outcome. Thus, devices that are suspended at the threshold system play an essential part in controlling hypoglycemia.

The leading players are involved in the innovation and the launch of the artificial pancreas device system having novel threshold suspend features.

For instance, in June 2020, Tandem Diabetes Care, Inc. has received U.S. Food and Drug Administration (FDA) approval of an expanded indication for children of the t: slim X2 insulin pump that uses Control-IQ technology, which is available to children aged six and older. Control-IQ technology is designed for integration with a compatible continuous glucose monitor integrated into the system to automatically increase, decrease, and stop the delivery of basal insulin in accordance with iCGM readings and glucose predictions values.

Therefore, the benefits of these devices and the upcoming developments that are expected to be released, the market for the threshold suspended device systems is predicted to grow dramatically over the forecast period.

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Artificial Pancreas Device System Market: Segmentation Analysis

Artificial Pancreas Device System Market based on device type

• Threshold suspend device systems

• Control- to-Range systems (CTR)

• Control-to- Target systems (CTT)

The threshold suspends device system segment led the Artificial Pancreas Device System market and accounted for a major global revenue share in 2015. This high share is attributed to its ability to take an instant action automatically when the patient is not able to respond to threshold suspend alarm, and it stops insulin supply as soon as sensor glucose reaches a low threshold.

CTT system is expected to register substantial growth with a CAGR of 37.6% over the forecast period. This growth can be credited to the CTT system attributes, such as its automation system, minimizing patient intervention. These factors are projected to drive the growth of the global Artificial Pancreas Device Market.

Artificial Pancreas Device System Market based on treatment type

• Bi-hormonal

• Insulin Only

• Hybrid

Artificial Pancreas Device System Market based on end-user

• Hospital

• Medical Centers

• Others

The Hospital segment dominated the market for Artificial Pancreas devices and held the largest revenue share in 2020. The segment is expected to maintain its dominance over the forecast period. This growth can be credited to the growing investment in the construction of hospitals with advanced technology and equipment.

Artificial Pancreas Device System Market by region

Europe dominated the market and accounted for a significant revenue share of around 43% in 2015. This growth can be credited to its sophisticated healthcare infrastructure, higher healthcare expenditure, and high patient awareness level. Moreover, the government has provided funds to provide better quality of treatment, which acts as an encouragement for the industry players.

The Asia Pacific is anticipated to witness significant growth in the forthcoming years. The Asia Pacific region has the highest number of diabetes patients owing to their habits, lifestyle, urbanization, aging, and genetic modification. Therefore, Artificial Pancreas Device System Market is expected to grow over the forecast period due to rising incidences of diabetes.

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Report Scope:

• Artificial Pancreas Device System Market Forecast Year: 2021-2030

• Artificial Pancreas Device System Market 2020: USD 171.04 Million

• Artificial Pancreas Device System Market 2030: USD 990.51 Million

• Artificial Pancreas Device System Market CAGR: 19.2%

• Key Regions and Countries: North America, Europe, Asia Pacific, LAMEA

• Key Segments: Device Type, End Users, and Regional Outlook

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