SEATTLE, August 02, 2021, (MEDGADGET) — North America and Europe Artificial Pancreas Systems Market – Insights
An artificial pancreas system is a diabetes control system that monitors glucose levels continuously and manages insulin distribution in the event of hypoglycemia or hyperglycemia.
The diabetes type 1 segment of the artificial pancreas systems market in North America and Europe was worth US$ 105.7 million in 2018 and is projected to develop at a CAGR of 12.9 percent to US$ 314.3 million by 2027.
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Drivers:
The rising prevalence of type 1 diabetes is expected to propel the artificial pancreas systems market in North America and Europe. According to the Centers for Disease Control and Prevention (CDC), about 40,000 people in the United States are diagnosed with Type 1 diabetes each year, and 5 million people in the country are predicted to be diagnosed with the disease by 2050.
Furthermore, the adoption of high-end systems in diabetes management is expected to boost market growth. This is due to many flaws in traditional diabetes control schemes, such as the need to administer insulin several times and recalibrating Continuous Glucose Monitoring (CGM) devices. Furthermore, traditional programs necessitate consumer or caregiver interference for insulin delivery.
In 2018, North America and Europe artificial pancreas systems market was dominated by North America, with a market share of 67.4 percent in terms of volume, led by Europe.
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Restraints:
Unfavorable reimbursement strategies are expected to impede development of North America and Europe artificial pancreas systems market. The U.S. Center for Medicare and Medicaid Services gives repayment just too proficient CGM frameworks like iPro 2. Repayment is viewed as a fundamental angle in diabetes treatment and the board, attributable to significant expense of these medicines. Nonetheless, repayment for CGM systems by government-supported associations or private payers is restricted. A CGM gadget is utilized for checking and not for treatment; subsequently, there is no certain result from the utilization of these devices. Accordingly, repayment for sensors and different extras utilized in CGM devices isn’t given by health insurance companies.
Furthermore, the market growth is expected to be hampered by the absence of a fully automated dual hormone artificial pancreas system. This is due to a lack of commercially available room-temperature-stable glucagon, system difficulty, and clinical studies’ limited term and small scale.
Opportunities:
Meal detection algorithms will broaden the scope and acceptance of artificial pancreas systems in the insulin dosing phase. To accurately assess meal size and timing, such an algorithm can be combined with artificial pancreas systems.
The development of hybrid closed loop artificial pancreas systems is expected to provide lucrative growth opportunities for players in the artificial pancreas systems market in North America and Europe. Tandem Diabetes Care, Inc., for example, obtained FDA approval in December 2019 for its t: slim X2 insulin pump with Control-IQ technology, an advanced hybrid-closed loop feature.
Market Trends/Key Takeaways:
The use of fast acting insulin analogues including aspart, glulisine, and lispro in artificial pancreas systems has increased since they help to imitate the physiological mechanism of insulin release after a meal. The method also aids in overcoming the time difference between real blood-glucose levels and CGM-measured interstitial blood-glucose levels.
The market’s major players are concentrating on providing accurate and advanced sensors for artificial pancreas systems. Medtronic, for example, provides the Enlite sensor, which is a smaller and more accurate sensor than its previous glucose sensor, the sofsensor.
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Key Developments:
In October 2019, Tandem Diabetes Care Inc. and Abbott have teamed up to create and market integrated diabetes solutions that incorporate Abbott’s glucose-sensing technology with Tandem’s insulin delivery systems.
In January 2019, The first home-use trial of Adocia’s BioChaperone Lispro, a rapid insulin, in Beta Bionics’ autonomous insulin delivery system, the iLetTM, was revealed.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Disease Type
- Market Snippet, By End User
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Technological Advancement
- Regulatory Scenario
- Market Dynamics
- North America & Europe Artificial Pancreas Systems Market, By Disease Type, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Diabetes Type 1
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Diabetes Type 2
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Introduction
- North America & Europe Artificial Pancreas Systems Market, By End User, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
- North America & Europe Artificial Pancreas Systems Market, By Regions, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Introduction
- Competitive Landscape
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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