Global Artificial Pancreas Device Systems Market is expected to grow at a CAGR of around 13% from 2021-2027.
factors are influencing the artificial pancreas device systems market over the forecast period

A comprehensive overview of the artificial pancreas device systems market is recently added by UnivDatos Market Insights to its humongous database. The artificial pancreas device systems market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the artificial pancreas device systems market. The artificial pancreas device systems market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the artificial pancreas device systems market at the global and regional levels. The Global Artificial Pancreas Device Systems Market is expected to grow at a CAGR of around 13% from 2021-2027.

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Market Overview

According to the United Nations, the global population aged 60 years or over was numbered 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050. This rapidly growing geriatric population base is an indication of the growing prevalence of various age-related diseases such as diabetes. For instance, as per the endocrine society, nearly 33% of adults aged 65 or older have diabetes as this population is more prone to developing diabetes-related complications like hypoglycemia (low blood sugar), kidney failure, etc. Owing to this and technical innovation in product development, the demand for artificial pancreas device systems is increasing globally. Additionally, the growing focus of major industry players to develop new and technologically advanced artificial pancreas device systems has also positively influenced the adoption of these devices across the globe. For example, In January 2021, Medtronic’s MiniMed 780G system advanced hybrid closed-loop insulin delivery system aimed at simplifying the management of type 1 diabetes is launched in the UK for people aged 7 to 80 years.

COVID-19 Impact

The COVID-19 pandemic has provided tremendous research resources while also highlighting the threat of deadly epidemic-prone diseases worldwide. The COVID-19 pandemic has affected the artificial pancreas device systems market owing to the supply chain disruption globally and changed the equation in international trading.

Global artificial pancreas device systems market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Type, the market is primarily fragmented into

·       Threshold Suspend Device Systems

·       Control-to-Range (CTR) Systems

·       Control-to-Target (CTT) Systems

Based on product type, the artificial pancreas device systems market is segmented into threshold suspend device systems, control-to-range systems, and control-to-target systems. The threshold suspend device systems segment accounted for a significant market share in 2020 and it is estimated to grow considerably during the forecast period. The growth of this segment can be attributed to the growing prevalence of type 1 diabetes and increasing preference for this device as it is a promising device for the treatment of hypoglycemic conditions.

By End-Users, the market is primarily segmented into

·       Hospitals & Clinics

·       Others

Based on end-users, the artificial pancreas device systems market is divided into hospitals & clinics, and others. The hospitals & clinics segment is anticipated to grow at a rapid rate in the upcoming years owing to the increasing preference of consumers to get treatment in hospitals mainly due to the well-established healthcare infrastructure, and large patient pool. Furthermore, the presence of several advanced devices and the availability of highly skilled healthcare professionals in hospitals are also some of the reasons why patients prefer hospitals for their treatment.  

Artificial pancreas device systems Market Geographical Segmentation Includes:

·       North America (United States, Canada, and Rest of North America)

·       Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)

·       Asia-Pacific (China, India, Australia, Japan, and Rest of Asia-Pacific)

·       Rest of the World

North America grabbed a significant market share of the global artificial pancreas device systems market in 2020, and it is expected to grow with considerable CAGR during the forecast period (2021-2027F). The major factors such as favorable government initiatives, increased investments in research and development for technologically advanced artificial pancreas device systems and the rapid increase in the geriatric population are propelling the growth of this market in the region. For instance, the number of Americans aged 60 and older increased by 34% from 55.7 million to 74.6 million between 2009 and 2019. Moreover, the presence of a vast majority of the global industry players and the surge in people suffering from diabetes are some of the other prominent factors due to which the artificial pancreas device systems market is expected to grow at an exponential rate in the upcoming years.  

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The major players targeting the market includes

·       Medtronic Plc

·       Johnson & Johnson

·       Tandem Diabetes Care, Inc.

·       Insulet Corporation

·       F. Hoffmann-La Roche Ltd

·       Beta Bionics

·       Bigfoot Biomedical, Inc.

·       DexCom, Inc.

·       Admetsys Corp.

·       Defymed

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the artificial pancreas device systems market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the artificial pancreas device systems market?

• Which factors are influencing the artificial pancreas device systems market over the forecast period?

• What are the global challenges, threats, and risks in the artificial pancreas device systems market?

• Which factors are propelling and restraining the artificial pancreas device systems market?

• What are the demanding global regions of the artificial pancreas device systems market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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