Artificial Pancreas Market 2018 – Industry Growth, Analysis, Size and Share to 2023

Artificial pancreas are devices that mimics the glucose regulating function of healthy pancreas. These devices use computer-controlled algorithm so as to precisely calculate the amount of insulin to be delivered by using an insulin infusion pump. Advanced products can deliver bi-hormones so as to avoid excessive fall in blood sugar and more closely mimic the working of healthy pancreas with little or no input from the patient. The market for Artificial Pancreas is expected to reach $ 360 million by the end of 2023, this market is projected to growing at a CAGR of ~ 15.2 % during 2017-2023.

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The global artificial pancreas market is showing the moderate growth; mainly due to increase in the population suffering with diabetes and advancement in technology. Nowadays, companies are focusing more into research and development to introduce quality and advance treatment to the affected population. Thus, many new technology related to treatment has introduced in the market, in this regards, Medtronic MiniMed, Inc., in 2016, get the FDA approval for the first hybrid closed loop system, Medtronic’s MiniMed 670G. This technology provides patient freedom to perform daily activities.

Moreover, companies are showing much interest toward the market of an artificial pancreas, as they feel there are huge opportunities and gaps between the market demand and supply of devices. Thus, companies are showing more interest in merger and acquisition activities for introducing the best cure that meets the requirement of market. The development has been made by Bigfoot Biomedical, Inc. in 2015, when they announced that they acquired Asante’s Snap Pump Technology and also signed a development agreement with Dexcom to integrate CGM data into its future automated insulin delivery system. The companies are trying to introduce better technology for getting the global leader in the artificial pancreas devices and provide a strong treatment option in the market.

Increasing in the prevalence of diabetes around the globe is creating the huge scope for the market players to make a profit. According to the Diabetes prevalence figures suggested by the Australian Bureau of Statistics, more than 5.1% of the Australian population was diagnosed with diabetes in 2016. Also, According to International diabetes federation (IDF), in 2015, there were 69.1 million people were suffering with diabetes globally.

Global Artificial Pancreas Market – Key players

Key players profiled in the report are:

  • Medtronic
  • Johnson & Johnson
  • Beta Bionics
  • Bigfoot Biomedical
  • Admetsys (pipeline product analysis)
  • Animas Corporation
  • Defymed
  • Dexcom
  • Insulet
  • Medtech
  • Medtronic
  • Semma Therapeutics
  • Tandem Diabetes Care
  • TypeZero Technologies

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Intended Audience

  • Global Artificial Pancreas, manufacturers & suppliers
  • Research and development (R&D) companies
  • Market research and consulting service providers
  • Academic institutes and universities

Global Artificial Pancreas Market   – Regional Analysis

The market of artificial pancreas is much higher in the Americas region. There is a huge population suffering with diabetes. According to Centers for Disease Control and Prevention (CDC) in the year 2015, it was estimated that around 23.1 million people were diagnosed with diabetes i.e. 7.2% of the United States total population. The presence of well-developed technology, high health care spending and Increase prevalence of diabetes have boosted the growth of the market.

Europe is also considering the huge market for artificial pancreas players, owing to the increasing prevalence of diabetic patient, increasing government support, and well developed technology. According to the World Health Organization (WHO), in 2015 around 60 million people in the European region are currently suffering with the disease and the prevalence of the diabetes is increasing among all ages in the European Region. Moreover, huge health care spending has boosted the growth of the market in this region. According to the OECD, the healthcare expenditure in Germany was EUR 321 billion in 2014, which is followed by France with health care expenditure of EUR 237 billion, whereas in the United Kingdom it was EUR 223 billion.

Asia Pacific and the Middle East and Africa region are considering the big market. Whereas country like India and china of Asia Pacific region are considering fastest growing region due to the presence of huge population suffering with diabetes, additionally they are open to adopt new technology, and best treatment option from a developed country, this gap between the developed and developing countries will present significant growth opportunities for the artificial pancreas market players in the coming years. Whereas the Middle East and Africa are the low market due to his incapability of investment.

Global Artificial Pancreas Market – Segments

The global artificial pancreas market is segmented on the basis of type and end users. Based on type, the market has been segmented as threshold suspend device system, non-threshold suspend device system, control-to-range (CTR) system, and control-to-target (CTT) system. Based on the treatment type, the market has been segmented as insulin only, bi-hormonal, and hybrid. Based on the end users, the market has been segmented as hospitals and clinics, research, and others.

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Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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