The Artificial Pancreas Device System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Pancreas Device System Global Market Report 2024, The artificial pancreas device system market size has grown rapidly in recent years. It will grow from $1.59 billion in 2023 to $1.81 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to rising inflow of investment, growing government initiative in clinical research, growing demand for automated systems in glycemic control, intensive R&D efforts by industry players, and increasing geriatric population.
The artificial pancreas device system market size is expected to see rapid growth in the next few years. It will grow to $3.06 billion in 2028 at a compound annual growth rate (CAGR) of 14%. The growth in the forecast period can be attributed to growing prevalence of diabetes, increasing prevalence of pancreatic cancer, growing occurrence of diabetes and obesity, rising demand minimally invasive (MI) drug delivery systems, and driving innovation in diabetes management technology. Major trends in the forecast period include technological innovations, increasing research and development activities, increasing product approvals, partnerships and collaborations, and increasing activities in tele consultancy for follow-up.
The increasing prevalence of pancreatic cancer is expected to propel the growth of the artificial pancreas device system market going forward. Pancreatic cancer is a malignant tumor that originates in the pancreas, a gland located behind the stomach. Pancreatic cancer is influenced by a combination of lifestyle, genetic, medical, and environmental factors, along with genetic mutations causing hereditary pancreatitis, which can lead to chronic inflammation of the pancreas. An artificial pancreas device system (APDS) is primarily designed to help individuals with diabetes manage their blood sugar levels by automatically monitoring glucose and delivering the appropriate amount of insulin. For instance, in March 2024, Cancer Australia, a government agency, estimated that 4,506 new cases of pancreatic cancer were diagnosed in 2023, an increase from the 3,751 cases reported over the past five years. Therefore, the increasing prevalence of pancreatic cancer is driving the growth of the artificial pancreas device system market.
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The artificial pancreas device system market covered in this report is segmented –
1) By Device Type: Threshold Suspend Device Systems, Control-To-Range Systems, Control-To-Target Systems
2) By Treatment Type: Bi-Hormonal, Insulin Only, Hybrid
3) By End-User: Hospitals, Medical Centers, Other End-Users
Major companies operating in the artificial pancreas device system market are developing automated insulin delivery systems to enhance diabetes management by automatically monitoring blood glucose levels and delivering the appropriate amount of insulin. Automated insulin delivery systems aim to replicate the function of a healthy pancreas, reducing the burden of constant blood sugar monitoring and manual insulin administration for individuals with diabetes. For instance, in May 2023, Beta Bionics, a US-based medical equipment manufacturing company, received FDA 510(k) clearance for iLet Insulin-Only Bionic Pancreas System, an automated insulin delivery device. It is an artificial pancreas system designed to autonomously determine and deliver insulin doses to control blood glucose levels. A closed-loop system automatically adjusts insulin delivery based on the user’s glucose levels measured by a connected continuous glucose monitor (CGM). It only requires the user’s body weight and a meal size estimate to adjust insulin delivery automatically.
The artificial pancreas device system market report table of contents includes:
1. Executive Summary
2. Artificial Pancreas Device System Market Characteristics
3. Artificial Pancreas Device System Market Trends And Strategies
4. Artificial Pancreas Device System Market – Macro Economic Scenario
5. Global Artificial Pancreas Device System Market Size and Growth
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32. Global Artificial Pancreas Device System Market Competitive Benchmarking
33. Global Artificial Pancreas Device System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Pancreas Device System Market
35. Artificial Pancreas Device System Market Future Outlook and Potential Analysis
36. Appendix
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