According to the latest report by IMARC Group, titled "Artificial Pancreas Device Systems (APDS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global artificial pancreas device systems market reached a value of US$ 2,208.2 Million in 2022. Artificial pancreas device systems (APDS) refer to a diabetes management system that is designed to regulate blood glucose levels in the human body. These systems mimic the functioning of a healthy pancreas with the help of a continuous glucose monitor (CGM) and an insulin infusion pump. The CGM, along with a sensor that is subcutaneously placed under the patient's skin, is utilized to track blood glucose levels and to determine the required insulin level of the body by evaluating real-time glucose readings. In case insulin deficit is registered by the CGM, the computer-controlled algorithm of the system sends an alert to the infusion pump that delivers the appropriate amount of insulin required by the body throughout the day in controlled amounts.
Global Artificial Pancreas Device Systems (APDS) Market Trends:
The global market is primarily driven by the rising prevalence of several lifestyle disorders, such as obesity and diabetes. This is further facilitated by the confluence of numerous factors, including a lack of physical activities and shifting dietary preferences. Consequently, there has been a significant increase in the demand for efficient glucose monitoring solutions, which is providing a thrust to the uptake of APDS. These systems offer flexibility, rapid action and enhanced convenience to the users, which has contributed to their widespread preference among masses. Continual innovations and extensive research and development (R&D) activities have led to the introduction of software-based wireless systems that are equipped with automated controls, which is acting as another major growth-inducing factor. The market is further driven by the development of versatile devices that are integrated with advanced technologies. For instance, Beta Bionics, a Massachusetts-based company, received breakthrough device designation from the Food and Drug Administration (US FDA) in the United States for developing its iLet Bionics Pancreas System that functions as three medical devices in one: as an insulin-only bionic pancreas, a glucagon-only bionic pancreas or a bihormonal bionic pancreas using insulin and glucagon. The system employs artificial intelligence (AI) and machine learning that aids in understanding the changing insulin needs of the patient. On account of the aforementioned factors, the market is expected to grow at a CAGR of 11.8% during 2023-2028.
- Based on the device type, the market has been divided into threshold suspend device, control-to-range and control-to-target systems.
- On the basis of the treatment type, the market has been categorized into bi-hormonal, insulin only and hybrid.
- Based on the end-user, the market has been classified into hospitals, medical centres and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Beta Bionics, Bigfoot Biomedical, Inc., Cellnovo Limited, Dexcom, Inc., Inreda Diabetic B.V., Insulet Corporation, Johnson & Johnson Services, Inc., Medtronic, F. Hoffmann-La Roche Ltd, and Tandem Diabetes Care, Inc.
|Base Year of the Analysis
||Device Type, Treatment Type, End-User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Beta Bionics Inc., Bigfoot Biomedical Inc., Dexcom Inc., Inreda Diabetic B.V., Insulet Corporation, Johnson & Johnson, Medtronic Inc., F. Hoffmann-La Roche Ltd and Tandem Diabetes Care Inc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Follow us on twitter: @imarcglobal