The Artificial Pancreas Device System Market size is anticipated to reach USD 0.4 billion by 2032 at 17% CAGR during the forecast period 2023-2032.The need for artificial pancreas devices has recently surged as the number of instances involving pancreatic diseases and malfunctions has climbed significantly. The increasing number of diabetes patients detected is a crucial driver in encouraging market expansion.
The increased infusion of investment into the industry is predicted to improve product quality, hence increasing market sales. Patients are more involved in the selection of their treatment alternatives in some circumstances now that they are more or less aware of the treatment possibilities. This aspect is expected to favorably impact the growth of the market over the forecast period.
The market perspective offered by MRFR spans the entire market and gives in-depth coverage of the latest trends that are shaping the future of the artificial pancreas device system industry. The report aptly captures the development of the market through current market trends, historical growth analysis, and revenue projections for a period ranging to 2023. The market also mentions CTR (Control to Range) Systems and CTT (Control to Target) Systems. The end user segments such as hospital and medical centers are also significantly emphasized upon, and a detailed analysis of the segments is also presented in the report. The market dynamics related to pricing and feasibility analysis is significantly along with macroeconomic indicators, and feasibility indicators provides a comprehensive overview of the artificial pancreas device system market in the forecast period.
The report on the artificial pancreas device system consists of market dynamics, forecast, historical market trends, market value by region as well as by country-level analysis for each market segment, segmentation, market factor analysis and key player’s market share analysis that includes supply chain and Porter’s five forces analysis of the market.
Artificial Pancreas Device System Industry Developments
In october 2023,
Medtronic received FDA approval for their MiniMed 780G system, a hybrid closed-loop system with features like automated basal rate adjustments and mealtime bolusing suggestions.
In November 2023,
Dexcom received FDA approval for their G7 continuous glucose monitoring (CGM) system, featuring a smaller sensor and improved accuracy.
Bigfoot Biomedical is a medical device business that is revolutionizing diabetes care for patients who require insulin. The business is working on an end-to-end type 1 diabetes management system that employs a simple design, cloud connection, and human-centered automation. It improves insulin administration and delivery via an integrated medical device ecosystem powered by machine learning and augmented by secure, user-friendly consumer technology, radically altering the care paradigm.
Tandem Diabetes Care Inc (Tandem) is a medical device manufacturer that creates diabetes care devices. The t: slim X2 insulin pump, basal-IQ technology, Control-IQ technology, software and apps, infusion sets, and various pump accessories are all part of the company's product line. It also provides linked health services. It also offers product support services to assist its customers in further customizing their systems. The firm sells its products in almost all the countries such as Australia, New Zealand, South Africa, France, and Germany. Tandem's headquarters are in San Diego, California, USA.
Key Companies in the market of artificial pancreas device system include
The segmentation of the artificial pancreas device market has been carried out to better gauge the market.
Research Methodology
The progression of research while creating reports at Market Research Future includes highlights and facts that are essential to the expansion of artificial pancreas device system. The research initiated by our analysts enhances the capability of our clients to outline their vision for growth better. The unification of primary and secondary research approaches in our reports divulges widespread information connected to new revenue pockets and developing markets globally. The report methodology also ensures strategy roadmaps that exhibit a distinct picture of the present trends as well as the trends that can affect the forthcoming development of the artificial pancreas device system industry. An intrinsic level of understanding connected to the value chain in a specific market additionally contributes to the value of the reports created by our analysts. Furthermore, the insights into markets, technologies, and industry sectors is positively achieved by the application of top-down and bottom-up approaches.
| Report Attribute/Metric | Details |
| Market Size | 2032: 0.4 billion |
| CAGR | 17% |
| Base Year | 2021 |
| Forecast Period | 2023-2032 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Medtronic Plc, Bigfoot Biomedical, Johnson & Johnson, Dexcom Inc., Cellnovo, Tandem Diabetes Care Inc., Pancreum Inc., TypeZero Technologies LLC, Beta Bionics, F. Hoffmann-La Roche Ltd, Inreda Diabetic B.V., Insulet Corp |
| Key Market Opportunities | Product Manufacturer |
| Key Market Drivers | · Number of cases being diagnosed with diabetes· Rising inflow of investment |
Artificial Pancreas Device System Market Highlights:
Frequently Asked Questions (FAQ) :
The types are included in the artificial pancreas device system market are CTR (Control to Range) Systems, CTT (Control To Target) Systems.
The major drivers of artificial pancreas device system market are Medtronic Plc, Bigfoot Biomedical, Johnson & Johnson, Dexcom Inc., Cellnovo, Tandem Diabetes Care Inc., Pancreum Inc., TypeZero Technologies LLC, Beta Bionics, F. Hoffmann-La Roche Ltd, Inreda Diabetic B.V., Insulet Corp.
Artificial Pancreas Device System Market is expected to reach USD 0.4 Billion and at a CAGR 17% through 2032.
The Major driving factor of Artificial Pancreas Device System Market is Number of cases being diagnosed with diabetes.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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