Artificial Pancreas Device System (APDS) Market is estimatedto surpass US$ 405.3 Mn by 2027 | Medtronic Plc
Artificial pancreas is an insulin pump connected to a continuous glucose monitor.
SEATTLE, WASHINGTON, UNITED STATES, December 16, 2021 /EINPresswire.com/ -- Another factual information on the "Artificial Pancreas Device System (APDS) Market" has as of late added by CMI to its storehouse. This research report offers an inside and out examination of various perspectives, for example, market patterns, pieces of the overall industry, drivers, restrictions, opportunities. It gives an investigative view to settle on further choices in organizations. It covers comprehensive instructive information of various key players working over the globe.
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Artificial pancreas is an insulin pump connected to a continuous glucose monitor. The monitor is controlled via a receiver using sophisticated software algorithms. It is used to help people with type 1 diabetes control their blood sugar levels. Currently available systems only deliver a single enzyme-based hormone insulin. Since the body usually produces insulin naturally, the use of an artificial pancreas can help diabetics lower their need for insulin by lessening the amount of the hormone that is produced and excreted. They are generally less expensive than a manual method.
The global artificial pancreas device system (APDS) market size was valued at US$ 123.5 Mn in 2018, and is expected to witness a CAGR of 14.1% during the forecast period (2020 – 2027).
Recent Developments
Major players operating in the global artificial pancreas device system (APDS) market are focused on adopting partnership strategies to enhance their market share. For instance, in June 2018, Senseonics Holdings, Inc. partnered with Beta Bionics, Inc. to integrate glucose data from the Eversense continuous glucose monitoring system into the iLet Bionic Pancreas system.
Major players operating in the global artificial pancreas device system (APDS) market are focused on adopting merger and acquisition strategies to enhance their market share. For instance, in 2015, Bigfoot Biomedical acquired Asante’s FDA approved Snap insulin pump technology
Global Artificial Pancreas Device System (APDS) Market: Drivers
Approval and launch of new products is expected to propel growth of the global artificial pancreas device system (APDS) market over the forecast period. For instance, in June 2017, Medtronic Plc. launched a new hybrid closed-loop system (near-artificial pancreas) for people with type 1 diabetes in the U.S.
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Market Trends
Major players operating in the global artificial pancreas device system (APDS) market are focused on adopting partnership strategies to enhance their market share. For instance, in 2015, Bigfoot Biomedical signed a development agreement with Dexcom to integrate Dexcom’s CGM with its artificial pancreas device system.
Global Artificial Pancreas Device System (APDS) Market: Restraints
Technical Failure and Side Effects of Artificial Pancreas Device Systems May Reduce Its Adoption and Hinder the Market Growth
In May 2019, the U.S. Food and Drug Administration issued a warning to Do-it-Yourself Artificial Pancreas Systems (DIY APS), following an accidental insulin overdose by a diabetes patient while using the DIY APS. Such technical failures may affect the adoption rate of DIY APS, which, in turn, might hinder growth of the market over the forecast period.
Global Artificial Pancreas Device System (APDS) Market: Competitive Landscape
Major players operating in the global artificial pancreas device system (APDS) market include, Beta Bionics, Inc., Bigfoot Biomedical, DreaMed Diabetes Ltd., Inreda Diabetic BV, Insulet Corporation, Johnson & Johnson, Medtrum Technologies Inc., Medtronic Plc., , Pancreum, Inc., TypeZero Technologies, Inc., and Tandem Diabetes Care, Inc..
Global Artificial Pancreas Device System (APDS) Market: Segmentation
On the basis of technology, the global artificial pancreas device system (APDS) market is segmented into:
Threshold Suspended Device Systems
Treat to Range/Control to Range (TTR/CTR)
Treat to Target/ Control to Target (TTR/CTT)
On the basis of distribution channel, the global artificial pancreas device system (APDS) market is segmented into:
Hospitals & Clinics
Online Channels
Retail Channels
On the basis of region, the global artificial pancreas device system (APDS) market is segmented into:
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
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