Artificial Pancreas Device System Market – Introduction
The Artificial Pancreas Device System (APDS) Market was priced at USD 171.04 million in the year 2020 and is anticipated to garner USD 990.51 million by the end of 2030 with a compound annual growth rate of 19.2%.
The pancreas is an organ in human body that releases or secretes hormones such as insulin and glucagon or blood sugar as well as certain digestive enzymes that help break down of food. Insulin in body helps to retain the energy from the blood sugar. Insulin in cells utilize the glucose from blood to maintain the energy level of the body which lowers the blood glucose. A secretion alluded as glucagon helps liver to release reserved glucose, that raises the glucose level in the body. Type 1 and 2 are common type of ailments related to high and low level of insulin secretion. Type 1 is caused when body secretes less or none sugar and type 2 occurs when body does not produce enough insulin. Patients suffering from type 1 have to self-vaccinate with a specified dose of insulin daily to maintain the blood sugar level to normal. In case of failure to maintain regular dose, can result into long term ailments such as sight loss, kidney failure or cardiovascular disease.
Monitoring blood sugar vigilantly is the only precaution to be taken by patients. There are several specific devices to monitor the insulin in body such as glucose meter, needle or insulin infusion pump etc. at home. In severe cases, Glucagon is injected in an emergency in case of drop in blood sugar levels.
The artificial pancreas device system is another device, used for treating type 1 diabetes patients. Patients suffering from type 1 diabetes require to shoot up several doses of insulin daily, throughout the year. The artificial pancreas device system, alluded as closed-loop system for controlling of the glycaemic or bionic pancreas. This device maintains the function of glucose level in healthy pancreas. This system made of three parts that work together to mimic the functioning of healthy pancreas.
Market Overview, Forecast, and Drivers
Artificial Pancreas Device System (APDS) Market is anticipated to show a convincing rise during the forecasted period.
Overall, the rising number of diabetes incidences and mortality rate is growing rapidly across the world. Reason being growing geriatric population and many other factors also contribute such as changing lifestyles of people, fluctuating environmental conditions, rising level of ultra violet rays causing skin cancers etc. In addition to this, increased awareness of developing technological advancements in life-sciences along with growing investments in R&D are fuelling the market growth.
Furthermore, rising demand for automated devises that control the glucose level according to its flexibility, precision, and its user friendliness I propelling the market growth.
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Market Drivers
As per the analysis done by International Diabetes Federation (IDF), in 2021, there are more than 500 adults between the age group of 20-70, suffering from diabetes across the globe. It is projected that by 2030 the number will rise up to approximately 643 million and 783 million by 2045. Mid or low income regions such as Asia, Africa, and Latin America as worst sufferers. Nearly half of people in overall 200 million population is left undiagnosed. In 2021, there were 6 million deaths due to diabetes related ailments. Nearly, USD 900 billion were spent on diabetes in 2021 of which 9% is spent on adult insulin. In addition to this, nearly, 1.2 million children and adolescents are living with Type 1 diabetes (T1D). Hence, owing to the fact of large scale diabetic population, and their rising demand for devices is likely to propel the market.
Market Key players
The market is known by its investors or key players. Some prominent key players are Medtronic, Johnson & Johnson, Bigfoot Biomedical, F. Hoffmann-La Roche Ltd, Inreda Diabetic B.V., Insulet Corp, Beta Bionics, Pancreum, Inc., Tandem Diabetes Care, Inc., and Typezero Technologies, LLC
Market Segmentation
The Artificial Pancreas Device System Market is segmented into Device type, Treatment type, End-user, Control Panel, Material, Component
Segment based on device type
- Threshold suspend device systems
- Control- to-Range systems (CTR)
- Control-to- Target systems (CTT)
Among all types, the threshold suspends device system segment leads the segment accounting to major shareholding. This high growth is due to its ability to take an instant action automatically, when the patient’s body is unable to produce insulin normally to the threshold and stops the insulin supply at once the levels in body are normalised. Following the Threshold suspend device systems, the Control-to- Target systems (CTT) is expected to display substantial growth with a CAGR of 37.6%.
Segment based on Treatment type
- Bi-hormonal
- Insulin Only
- Hybrid
Segment based on End-user
- Hospital
- Medical Centers
- Others
The Hospital segment under End Use section dominated the market is expected to grow throughout the forecasted period. The dominance is attributable to growing investment in the construction of hospitals with advanced technology and equipment.
Segmentation based on control panel
- Remote
- Touch
- Switch
- Revolving Gear
Segmentation based on Material
- Aluminium
- Copper
- Alloy with Powder Coated
- ABS
- Others
Segmentation based on Component
- Up to Three Functions
- Up to Five Functions
- Up to Seven Functions
- CPR Functions
- Castors
- Head & Foot board
- Side Railing
- Monitors
- Cameras
- Sensors
- Others
The Artificial Pancreas Device System Market Regional Outlook
Based on the geographical view, the market occupies regions like North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Of all regions, Europe dominated the market with a value of USD 480 million in 2019. This is due the rising number of Covid-19 cases. Following North America, the Asia Pacific region is expected to witness significant growth in near future.
Covid-19 impact on the market:
The emergence of Covid- 19 pandemic and related confinement bars has a mixed effect on businesses worldwide and additionally on the health care service market. The initial wave of Covid-19 caused an unprecedented contraction in economic activity and a collapse of overall logistics, hence, the market is expected to show relatively slow growth. Many key players’ sale was impacted due to lockdowns and social distancing globally. The global pharma & healthcare market was impacted severely due to scarcity of drugs owing to consequent lockdowns. Hence the market faced numerous challenges due to disruptions in supply chain.
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