The new study from Market Research Future (MRFR) on the worldwide artificial pancreas market predicts the market will grow at a CAGR of 18.75% between 2022-2030.

A swashbuckling growth pattern is set to fire up the Artificial Pancreas market during the assessment period. The report paints a comprehensive overview of the market, mentioning aspects such as market size share, current trends, and future prospects. Additionally, market players, driving/restraining forces, as well as the highly fascinating opportunities, have also been studied in order to procure well-ground information with regards to the Artificial Pancreas market.

Artificial pancreas refers to the technology which enables diabetics to regulate the blood sugar levels automatically. In this technology, a mini-computer or a smartphone connected to the Continuous Glucose Monitor (CGM) and insulin pump is used. A mathematical model present in the device ensures that the blood glucose level is maintained within a range.

The Artificial Pancreas Market consists of players from various countries across the world. The report bifurcates the market into various segments, providing an all-round view of the market. Furthermore, the entire product life cycle has been described for the forecast period.

The Artificial Pancreas market is broken down in detail by product, technology, application, and end user in this report. Markets are broken down by several types of insulin delivery devices, such as injectable pens, insulin pen needles, insulin patches, and insulin pumps. By technology, the artificial pancreas market is categorized into closed loop systems, open loop systems, and hybrid loop systems. The market is broken down into three different types of organizations: institutional care facilities (hospitals and clinics), non-institutional care facilities (home care settings), and universities and research centers.

Geographically, North America accounts for the major shares in the global artificial pancreas market due to rising prevalence of diabetes, government non-government initiatives, high disposable incomes, and recent technological developments. Because of increased government efforts to establish programs and the availability of attractive reimbursement rules, Europe is second only to North America in terms of market share. The Asia-Pacific region is predicted to have the highest rate of growth, due to the rapidly rising geriatric population, developing healthcare infrastructure, high prevalence of diabetes, and rising awareness about diabetes management.

Major Players:

The report analyses the competitive landscape of the Artificial Pancreas market by profiling large numbers of major as well as local players. These include Medtronic (U.S.), Tandem Diabetes Care (U.S.), Dexcom, Inc. (U.S.), Insulet Corporation (U.S.), Johnson Johnson (U.S.), Beta Bionics, Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Cellnovo Group (U.K.), Bigfoot Biomedical, Inc. (U.S.), and Companion Medical, Inc. (U.S.).

Recent Industry Market Developments

In April 315, 2018, Beta Bionics, Inc. announced the initiation of a pivotal trial of its iLet bionic pancreas device, which would focus on using a simple smartphone-controlled, closed-loop artificial pancreas system to treat type 1 diabetes.

In June 2017, Bigfoot Biomedical, Inc. secured a USD 463.00 million Series B financing round that would expand its resources and accelerate the development of its insulin therapy management systems.

In June 2017, Cellnovo Group secured €30 million in Series D funding to commercialize its diabetes management platform and grow its business.

In May 2017, Johnson Johnson collaborated with French artificial pancreas maker Diabeloop SA to advance the Diabeloop artificial pancreas system.

July 2017, Animas Corporation, a subsidiary of Johnson Johnson, acquired companion medical, a diabetes device company.

Market Outlook

The rapid rise in the prevalence of diabetes, technological advancements in pumps and sensors, high demand for home use systems, and surge in the demand for improved technologies in diabetes care are likely to drive the global Artificial Pancreas market over the forecast period. In addition, with increasing news about Artificial Pancreas trials, its market is expected to grow notably in the coming period.

On the other hand, stringent regulations, efficacy issues, and a dearth of awareness pertaining to artificial pancreas are likely to impede the growth of the market.

Market Research Future (MRFR) projects that the global Artificial Pancreas Market is projected to reach USD 463.00 million by 2030 at 18.75% CAGR during the forecast period 2022-2030.

Regional analysis

US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology in the US is also an important driver of the market for global artificial pancreas. Europe is the second largest market due to large disposable income and rising awareness. Asia Pacific region is expected to have the most potential which is estimated to be led by China and India. The Middle East Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa are expected to be a laggard due to poor economic and political conditions and poor healthcare penetration.

Segments:

The 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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