The latest industry information published by Credence Research, Inc. “Global Artificial Pancreas Device Systems industry – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022,” the artificial pancreas device systems industry was valued at USD 59.8 Mn in 2015, and is expected to reach USD 335.5 Mn by 2022, expanding at a CAGR of 21.7% from 2016 to 2022.
An artificial pancreas system comprises a continuous glucose monitor (CGM) and a continuous subcutaneous insulin infusion pump, both of which are available in the industry today, and a controller linking the monitor and pump. It runs a highly sophisticated algorithm to determine the appropriate amount of insulin to deliver and the timing for that delivery, based on evaluation of real-time glucose readings. The industry segmentation of artificial pancreas device systems industry by type of devices comprises threshold suspend device system, control-to-range (CTR) system, and control-to-target (CTT) system. The geographical segmentation of global artificial pancreas device systemsindustry comprises North America, Europe, Asia Pacific, Latin America and Middle East and Africa further segmented into key countries with highest potential in artificial pancreas device systems industry.
Browse the full report Artificial Pancreas Device Systems Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report athttp://www.credenceresearch.com/report/artificial-pancreas-device-systems-market
Threshold suspended device system is expected to account for the largest industry due to early bird benefits and swift industry expansion and penetration characteristics possessed as Medtronic, Inc. is a multinational company with operations in more than 140 countries. However, in 2018 products in CTT systems are expected to boost the overall industry growth of the artificial pancreas device and systems industry because around five companies are expected to enter the industry. North America is expected to be the largest and most potential regional industry for artificial pancreas device systems due to high disposable income, rising prevalence of type 1 diabetes, high adoption rate of novel technologies and supportive reimbursement policies.
Industry Competition Assessment
In 2015, Medtronic, Inc. was observed as the only player present in industry with its first generation artificial pancreas device systems MiniMed 530G. However, the key players who are expected to enter the industry during the forecast period are Johnson & Johnson, Tendem, Insulet, JDRF, Bigfoot Biomedical and Beta Bionics. Insulet Corp. is compiling a strategy its pump OmniPod becomes an important part of its artificial pancreas offering in the near future. Tandem Diabetes Care outlines its plans in the APDS industry initiating with R&D phase of its artificial pancreas system. Bigfoot Biomedical’s goal is to create a pump-sensor union therapy that would be much simpler than the current counterparts would. Beta Bionics has developed the iLet Bionic Pancreas system that delivers both insulin and glucagon and is targeted to type 1 diabetes patients; and was developed by Dr. Ed Damiano at the Boston University. Thus, by 2019 products of these key players are anticipated to commercially exist in the industry which would increase the industry competition, new pricing strategies, assist merger and acquisitions, and geographical expansion strategies.
Key Industry Movements
North America is expected to lead the global artificial pancreas device systems industry due to high disposable income, rising prevalence of type 1 diabetes, high adoption rate of novel technologies and supportive reimbursement policies
Projected industry entry of around seven products by 2018 in global pancreas device systems industry
Artificial pancreas device systems industry is expected to achieve maturity by 2022 which would intensify the industry competition, revamp of pricing strategies, and emphasis on geographical expansion and penetration
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