The global Artificial Pancreas Device System (APDS) market in terms of revenue was estimated to be worth $123.5 million in 2022 and is poised to reach $405.3 million by 2030, growing at a CAGR of 14.1% from 2023 to 2030. For individuals with type 1 diabetes (T1D), the daily administration of insulin can be a tedious task. However, with the advent of devices like jet injectors, insulin pumps, and pens, managing diabetes has become less taxing as they have replaced uncomfortable insulin delivery devices like syringes and needles. Additionally, there have been partnerships between organizations like the Juvenile Diabetes Research Foundation (JDRF) and industry leaders like Johnson & Johnson, Tandem Diabetes Care, Inc., and Medtronic, Inc., to create novel glucose and insulin monitoring devices and systems.
What is New Additions in 2023?
✔ Detailed industry outlook
✔ Additional information on company players
✔ Customized report and analyst support on request
✔ Recent market developments and it’s futuristic growth opportunities
✔ Customized regional/country reports as per request
Request a Sample Report @ https://www.coherentmarketinsights.com/insight/request-sample/79
A sensor, insulin pump, receiver, and transmitter comprise the artificial pancreas device system (APDS). Medtronic, Inc.’s MiniMed 530G was the initial APDS sanctioned by the US Food and Drug Administration. It has a threshold-suspension mechanism that halts insulin delivery temporarily when glucose levels fall below a certain point.
Market growth is anticipated to be driven by the introduction and implementation of innovative and technologically advanced artificial pancreas device systems.
A new hybrid closed-loop system (near-artificial pancreas) was launched by Medtronic Plc. in the United States in June 2017. The recently launched system combines Medtronic’s MiniMed 670G insulin pump, 4th generation sensors, and a control algorithm that determines basal insulin delivery. It is aimed at individuals with type 1 diabetes.
The US Food and Drug Administration gave approval to the new system in 2016, which enables the automatic measurement of blood glucose levels every 5 minutes, ensuring they stay within the normal range. Additionally, it administers or withholds insulin as required.
The anticipated introduction and release of these innovative devices are poised to generate a profitable atmosphere for the growth of the global artificial pancreas device system (APDS) market throughout the projected timeframe.
The growth of the Artificial Pancreas Device System (APDS) market is anticipated to be propelled by strategic partnerships and collaborations.
Beta Bionics, Inc., and Senseonics Holdings, Inc., made an agreement in June 2018 to incorporate glucose information from the Eversense continuous glucose monitoring (CGM) system into the iLet Bionic Pancreas system.
The Eversense CGM system by Senseonics Holdings, Inc. is an implantable device that monitors glucose levels in interstitial fluid and transmits data to a smartphone app, offering long-lasting CGM support. Meanwhile, Beta Bionics’ iLet Bionic Pancreas system is a dual-chamber, autonomous infusion pump that emulates the pancreas by automatically adjusting glucagon and insulin doses based on the specific requirements of a diabetic patient.
In addition, Bigfoot Biomedical obtained the US FDA-sanctioned Snap insulin pump technology from Asante in 2015. Moreover, they entered into a partnership with Dexcom that year to combine their CGM technology with Bigfoot Biomedical’s artificial pancreas device system (APDS). Dexcom also collaborated with various other market players, like International Diabetes Closed Loop, Insulet Corporation, and Animas Corporation, to incorporate their CGM technology into their APDS.
Collaborations like these are anticipated to accelerate the introduction of novel artificial pancreas device systems, thereby fueling the growth of the artificial pancreas device system (APDS) market.
Limited Period Offer | Report Available Now at UP TO 45% off Discounted Pricing @
Single User License : https://www.coherentmarketinsights.com/promo/buynow/79
Multi Users License : https://www.coherentmarketinsights.com/promo/buynow/79
Corporate Users License : https://www.coherentmarketinsights.com/promo/buynow/79
Benefits on Coherent Market Insights study is going to provide?
★ 2023 Latest industry influencing trends and development scenario
★ To Size powerful market opportunities
★ Key decision in planning and to further expand market share
★ Identify Key Business Segments, Market proposition & Gap Analysis
★ Assisting in allocating marketing investments
★ Updated Methodology of Coherent Market Insights
The market growth of artificial pancreas device systems may be hindered and its adoption reduced due to technical failures and the occurrence of side effects.
The US Food and Drug Administration cautioned Do-it-Yourself Artificial Pancreas Systems (DIY APS) in May 2019 after a diabetes patient experienced an unintended insulin overdose while utilizing the system. This type of technical malfunction has the potential to impact the acceptance of DIY APS and impede the market’s growth during the projected timeframe.
Top companies in the global artificial pancreas device system (APDS) market consist of Johnson & Johnson, Inreda Diabetic BV, Medtronic Plc., Beta Bionics Inc., Medtrum Technologies Inc., Insulet Corporation, Tandem Diabetes Care, Inc., Bigfoot Biomedical, DreaMed Diabetes Ltd., Pancreum Inc., and TypeZero Technologies, Inc.
Plasmid dna manufacturing market
Coherent Market Insights is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Coherent Market Insights has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Coherent are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
Contact Us :
Coherent Market Insights
533 Airport Boulevard, Suite 400,
Burlingame, CA 94010, United States.