The Global Artificial Pancreas Device System Market size was valued at USD 154.31 million in 2022 and is expected to grow at a CAGR of 20% during the forecast period.
The increasing prevalence of diabetes, intensive research and development efforts by industry players and rising demand for automated systems for glycemic control are the factors driving the market growth. Artificial pancreas device system controls the blood glucose level in diabetes patients, and market players are conducting various researches for improved diabetes management. For instance, Medtronic launched MiniMed 670G, the first hybrid closed loop system, which has the property of self- adjustment to keep sugar level in range. Various other organizations are undertaking initiatives to develop technologically advanced artificial pancreas device system.
Moreover, automated systems for glycemic control include insulin pumps, artificial pancreas, and insulin pens. The demand for these devices is on the rise due to the flexibility, dosage accuracy, short and rapid-acting insulin, automatic detection of glucose level, and convenient usage. The growing number of children and the geriatric population within the target customer group is propelling the market.
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Based on the type of device, the market is segmented into the CTR system, threshold suspended device system, and CTT system. The threshold suspended device system held the largest share in the market in 2019. This device is designed to automatically take action when the patient fails to respond to the threshold suspend alarm and cuts off insulin delivery when the value of sensor glucose attains a low threshold.
CTT System is anticipated to witness the fastest growth with a CAGR of around 37%, during the forecast period. It is a fully automated system making patient intervention unnecessary. Such factors are expected to drive the growth of the market.
Europe captured the largest market share of around 43% in 2019, owing to the presence of sophisticated healthcare infrastructure, high patient awareness levels coupled with relatively higher healthcare expenditure levels. Moreover, funds provided by the government for offering better treatment is encouraging industry players and researchers to introduce new technology.
Asia Pacific is expected to register the fastest growth during the forecast period owing to the highest number of diabetes patients in the region. Due to their lifestyle, genetic modification, urbanization, and aging, diabetes occurrence is rising in countries of APAC. Over the forecast period, rising incidences of diabetes are expected to support market growth. Asian countries account for nearly 60% of the world’s diabetic population, leading to the growth of the APDS market in the region. Moreover, industry players expanding their centers across the region are expected to boost the market.
A few of the major players include Medtronic Plc, Johnson & Johnson, Bigfoot Biomedical, Tandem Diabetes Care, Inc., TypeZero Technologies, LLC, Pancreum, Inc., and Beta Bionics.
Major players implement strategies, including partnerships, mergers, acquisitions, and launching new products to expand their market share. They are also focusing on the research & development, and clinical trials of new products to remain competitive in the sector.
Segments covered in the report
This report forecasts revenue growth at global, regional, & country levels as well as provides an analysis of the latest trends and opportunities in each of the sub-segments from 2023 to 2032. For the purpose of this study,segmented the global artificial pancreas device system market report on the basis of device type and region:
Device Type Outlook (Revenue, USD Million, 2023 – 2032)
- Threshold suspended device system
- CTR System
- CTT System
Regional Outlook (Revenue, USD Million, 2023 – 2032)
- North America
- Asia Pacific
- Latin America
- South Africa
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