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Artificial Pancreas Market, Size, Share 2021-2028

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Market Overview
The Global Artificial Pancreas Market is expected to grow at a CAGR of 15.3 % during the forecasting period (2021-2028).
An artificial pancreas is the medical devices which can automatically monitor the blood glucose level and accordingly provide the insulin to the individual with diabetes.

Artificial pancreas is boon for people suffering from type II diabetes, where the body cannot produce sufficient amount of insulin.

The FDA is supporting people suffering from diabetes, diabetic care providers, medical device manufacturers, and research scientist to advance the development of the artificial pancreas.

FDA’s activities to help the artificial diabetic industry such as prioritizing the review, providing clear guidelines, making sure that they set performance and safety standards, encouraging discussions between government and private researchers.

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Market Drivers and Restraints
Drivers
Growing technological integration will fuel the market for artificial pancreas over the forecast period. The market has been witnessing increased technological integration, which is expected to boost the market growth.
The increased need for Artificial Pancreas Device System (APDS) to mimic the function of a healthy pancreas has driven the vendors to focus intensively on advanced technologies Integration of sensors, software, and related algorithms are required for effective functioning of APDS.
For instance, Medtronic’s MiniMed 530G system integrates with SmartGuard Technology, which helps to control glucose levels adequately.
In addition, there are many initiatives in the market that are driving the advancements in technology. For instance, in July 2016, Tandem Diabetes Care entered into a license agreement with TypeZero Technologies to undertake the integration of its artificial pancreas into Tandem Diabetes Care’s next-generation t: slim insulin pump.
Restraints
Low penetration rates were affecting market growth. The APDS have low penetration in the market owing to several issues related to the diagnosis of disease, functionality of the device, and reimbursements in the market.
For instance, according to CDC 2016 statistics, more than 29 million individuals in the US have diabetes. However, out of this, 25% of individuals are undiagnosed. Also, over 86
million US adults have prediabetes (a severe condition which leads to type 2 diabetes and other chronic diseases), of them, 90% of individuals are undiagnosed.
Also, there are many issues related to the functioning of APDS. For instance, Medtronic’s Minimed 530G is the only APDS that features threshold suspend function, which automatically halts the insulin delivery once the glucose levels reach the threshold value.
This indicates that there are limited devices that function similar to a healthy pancreas. Such issues have affected the adoption rates substantially — other factors such as lack of smart control algorithms changing the adoption rate of existing APDS.

Market Segmentation:
By Type
Threshold Suspend Device Systems
Non-threshold Suspend Devices System
Control to Range System (CTRS)
Control to Target System (CTTS)

Geographical Share
North America dominates the global artificial pancreas market in 2017. The growing incidence of diabetes is expected to drive the adoption rates of APDS in the Americas, particularly North America.
According to CDC 2012 statistics, 29.1 million Americans had diabetes in 2015. Out of this, 21 million were diagnosed, and 8.1 million were undiagnosed. Also, it estimated that approximately 1.4 million Americans are diagnosed with diabetes annually.

Also, research organizations such as JDRF, and Harvard University are focusing on the development of closed loop APDS for the effective management of diabetes. For instance, Medtronic’s MiniMed 670G, a complete APDS, is expected to receive approval by the FDA by the end of 2017 in the US.
Followed by Europe the next most dominant region in artificial pancreas market has witnessed the product recommendation and launches in the year 2015 and 2016.

For instance, in February 2016, the National Institute for Health and Care Excellence (NICE) recommends the MiniMed Paradigm Veo system for managing glucose levels in people with Type 1 diabetes who experience ‘disabling hypoglycemia. Also, January 2015, Medtronic launched MiniMed 640G with Smart Guard technology in the European Union (EU).
Asia Pacific (APAC) is expected to witness a favorable growth of more than 5% of CAGR for over next decade. Company expansion and recent product approvals in critical countries such as Japan and Australia are expected to improve the adoption rates of an artificial pancreas in the APAC region.

For instance, in April 2016, Medtronic entered into a long-term agreement with the Chengdu municipal government to offer better diabetes management for the growing and underserved diabetes population in China. Also, in January 2015, Medtronic’s received product approval for MiniMed 640G in Australia.

Competitive Trends
The increase in advanced technological products by the manufacturing companies is one of the major driving factors for the global artificial pancreas market.
Medtronic dominates the market owing to its technologically advanced devices. Medtronic products have the highest penetration rate in the market with growing variations in the offering line.
For instance, Medtronic is the first company in the market to provide threshold suspend feature (MiniMed 530G), and predictive suspend feature (MiniMed 640G)
Johnson & Johnson, Insulet, Roche, and Tandem Diabetes Care offer nonthreshold suspend device systems with partial automation. Therefore, there is resistance from the hospitals and individuals to adopt such systems

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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.

For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com

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