Eating habits of type 1 diabetes patients is highly curtailed, complemented by regular administration of insulin. Type 1 diabetes patients require multiple doses of insulin in a day and all-round the year. Advancements in research and technology has led to commercialization of easy-to-us insulin delivery systems such as insulin pens, pumps, inhaled insulin, and injectors. Use of syringes to deliver insulin has become obsolete with the introduction of advanced and easy-to-use insulin delivery systems mentioned above. Moreover, these systems offer the convenience to self-administer insulin at home. An artificial pancreas is a novel concept that promises to revolutionize the entire diabetes market. The system automatically detects glucose level in patient’s blood or plasma and accordingly administers the necessary dosage of insulin. Medtronic’s MiniMed 670G is one such wearable artificial pancreas. The system is automated to monitor glucose levels and deliver insulin through an insulin pump attached to the system. The artificial pancreas system comprises a transmitter, sensor, and insulin pump. This helps in continuous monitoring and diabetes management at ease.
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The artificial pancreas device system (APDS) market growth would be mainly driven by increasing adoption of the highly useful systems the large base of diabetes type 1 patients, further supplemented by ever increasing incidence of type 1 diabetes. According to the World Health Organization (WHO), number of diabetes patients worldwide increased from 108 million in 1980 to 422 million in 2014. According to Juvenile Diabetes Research Foundation (JDRF), there were around 1.5 million type 1 diabetics worldwide in 2015. JDRF funds research in diabetes 1 and the non-profit organization expected the first artificial pancreas to be commercialized in 2017. According to the Center for Disease Control and Prevention (CDC), type 1 diabetes accounts for around 5% of the total diagnosed diabetes cases in adults in the U.S. Developed regions are expected to dominate the artificial pancreas device system (APDS) market size, as these regions are early adopters of disruptive technologies. With the introduction of this technology, market for insulin pens and injectors is expected to be impacted negatively.
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This report segments the global artificial pancreas device system (APDS) market on the basis of technology, distribution channel, end user and geography. On the basis of technology, the global artificial pancreas device system (APDS) market is categorized into Treat to Range/Control to Range (TTR/CTR), Treat to Target/ Control to Target (TTR/CTT) and Threshold Suspended Device Systems. On the basis of distribution channel the global artificial pancreas device system (APDS) market is segmented into e-commerce, Standalone Retail Shops and hospitals. End user of the APDS include type 1 and type 2 diabetic patients. For comprehensive understanding of market dynamics, the global artificial pancreas device system (APDS) market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
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Key features of the study:
- This report provides in-depth analysis of the artificial pancreas systems and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2016 – 2024, considering 2015 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global artificial pancreas device system (APDS) market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
- Key companies covered as a part of this study include Medtronic, Medtrum, Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Bigfoot Biomedical, and Insulet Corporation
- Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, end user upgrades, market expansion, and marketing tactics
- The global artificial pancreas device system (APDS) market report caters to various stakeholders in this industry, including investors, manufacturers and distributors for artificial pancreas system and components, end users, research and consulting firms, new entrants, and financial analysts
- Various strategy matrices used in analyzing the artificial pancreas device system (APDS) market would provide stakeholders vital inputs to make strategic decisions accordingly
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