Artificial Pancreas Device System Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

The Business Research Company’s Artificial Pancreas Device System Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 17, 2024 /EINPresswire.com/ -- The artificial pancreas device system market has experienced robust growth in recent years, expanding from $1.59 billion in 2023 to $1.81 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to rising inflow of investment, growing government initiative in clinical research, growing demand for automated systems in glycemic control, intensive R&D efforts by industry players, and increasing geriatric population.

What Is The Estimated Market Size Of The Global Artificial Pancreas Device System Market And Its Annual Growth Rate?
The artificial pancreas device system market is projected to continue its strong growth, reaching $3.06 billion in 2028 at a compound annual growth rate (CAGR) of 14%. The growth in the forecast period can be attributed to growing prevalence of diabetes, increasing prevalence of pancreatic cancer, growing occurrence of diabetes and obesity, rising demand minimally invasive (MI) drug delivery systems, and driving innovation in diabetes management technology.

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Growth Driver Of The Artificial Pancreas Device System Market
The increasing prevalence of pancreatic cancer is expected to propel the growth of the artificial pancreas device system market going forward. Pancreatic cancer is a malignant tumor that originates in the pancreas, a gland located behind the stomach. Pancreatic cancer is influenced by a combination of lifestyle, genetic, medical, and environmental factors, along with genetic mutations causing hereditary pancreatitis, which can lead to chronic inflammation of the pancreas. An artificial pancreas device system (APDS) is primarily designed to help individuals with diabetes manage their blood sugar levels by automatically monitoring glucose and delivering the appropriate amount of insulin.

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Which Market Players Are Steering The Artificial Pancreas Device System Market Growth?
Key players in the artificial pancreas device system market include Johnson & Johnson, Abbott Laboratories, Medtronic plc, DexCom Inc., Insulet Corporation, Tandem Diabetes Care Inc., Juvenile Diabetes Research Foundation (JDRF), Beta Bionics Inc., Glooko Inc., Bigfoot Biomedical Inc., CeQur SA, Medtrum Technologies Inc., Diabeloop SA, Beta-O2 Technologies Ltd, Pancreum Inc., TypeZero Technologies LLC, Inreda Diabetic B.V., Defymed SAS, Admetsys Corporation, DreaMed Diabetes Ltd.

What Are The Key Trends That Influence Artificial Pancreas Device System Market Share And Analysis?
Major companies operating in the artificial pancreas device system market are developing automated insulin delivery systems to enhance diabetes management by automatically monitoring blood glucose levels and delivering the appropriate amount of insulin. Automated insulin delivery systems aim to replicate the function of a healthy pancreas, reducing the burden of constant blood sugar monitoring and manual insulin administration for individuals with diabetes.

How Is The Global Artificial Pancreas Device System Market Segmented?
1) By Device Type: Threshold Suspend Device Systems, Control-To-Range Systems, Control-To-Target Systems
2) By Treatment Type: Bi-Hormonal, Insulin Only, Hybrid
3) By End-User: Hospitals, Medical Centers, Other End-Users

Geographical Insights: North America Leading The Artificial Pancreas Device System Market
North America was the largest region in the artificial pancreas device system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial pancreas device system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Artificial Pancreas Device System Market Definition
Artificial pancreas device system (APDS) is a medical technology designed to automate blood glucose control for individuals with diabetes. The system integrates continuous glucose monitoring (CGM) with an insulin pump, and uses a sophisticated algorithm to automatically adjust insulin delivery based on real-time glucose readings.

Artificial Pancreas Device System Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global artificial pancreas device system market report covering trends, opportunities, strategies, and more
The Artificial Pancreas Device System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on artificial pancreas device system market size, artificial pancreas device system market drivers and trends, artificial pancreas device system market major players, artificial pancreas device system competitors' revenues, artificial pancreas device system market positioning, and artificial pancreas device system market growth across geographies. The artificial pancreas device system market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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