Artificial Pancreas Device Systems
Market Expected To Reach USD 335.5 Mn By 2022
The
latest market report published by Credence Research, Inc. “Global Artificial
Pancreas Device Systems Market - Growth, Share, Opportunities, Competitive
Analysis, and Forecast, 2016 - 2022,” the artificial pancreas device systems
market 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.
Browse the full report Artificial
Pancreas Device Systems Market - Growth, Share, Opportunities, Competitive
Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/artificial-pancreas-device-systems-market
Market Insights
An
artificial pancreas system comprises a continuous glucose monitor (CGM) and a
continuous subcutaneous insulin infusion pump, both of which are available in
the market 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 market segmentation of artificial pancreas device systems
market 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 systemsmarket
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 market.
Threshold
suspended device system is expected to account for the largest market due to
early bird benefits and swift market 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 market growth of the artificial pancreas device and systems
market because around five companies are expected to enter the market. North
America is expected to be the largest and most potential regional market 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.
Market Competition Assessment
In
2015, Medtronic, Inc. was observed as the only player present in market with
its first generation artificial pancreas device systems MiniMed 530G. However,
the key players who are expected to enter the market 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 market 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 market which would increase the market competition, new pricing strategies,
assist merger and acquisitions, and geographical expansion strategies.
Browse
all reports from same category @ http://www.credenceresearch.com/industry/medical-devices-market
Key Market Movements
North
America is expected to lead the global artificial pancreas device systems
market due to high disposable income, rising prevalence of type 1 diabetes,
high adoption rate of novel technologies and supportive reimbursement policies
Projected
market entry of around seven products by 2018 in global pancreas device systems
market
Artificial
pancreas device systems market is expected to achieve maturity by 2022 which
would intensify the market competition, revamp of pricing strategies, and
emphasis on geographical expansion and penetration
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