Artificial Pancreas Device System (APDS) Market Size, Share & Trends Analysis Report By Device Type (Threshold suspended device system, CTT System) And Segment Forecasts, 2018 - 2024

Industry Insights 

The global artificial pancreas device system market size was valued at USD 89.3 million in 2016 and is expected to witness at a CAGR of 20.2% during the forecast period. Increasing prevalence of diabetes, intensive R&D efforts by industry players, and rising demand for automated systems for glycemic control are the factors driving the market growth. Artificial pancreas device system controls the blood glucose level in diabetes patient and industry players are conducting numerous researches for better diabetes management.

For instance, Medtronic launched the first hybrid closed loop system, MiniMed 670G, which has the property of self- adjustment to keep sugar level in range. Similarly, BigFoot Biomedical has an artificial pancreas device in its clinical trial phase. More than 20 research activities are currently being conducted globally with anticipation of introducing the devices by 2017-2018.

Also, various organizations are taking initiatives to develop technologically advanced artificial pancreas device system. For instance, Juvenile Diabetes Research Foundation (JDRF) launched the Artificial Pancreas Project in 2006 to help patients of type 1 diabetes by developing a commercially-viable artificial pancreas system, which would mimic the biological function of the pancreas.

Moreover, the automated systems for glycemic control include a variety of devices such as insulin pumps, artificial pancreas and insulin pens. The demand for these devices is on the rise owing to the flexibility, accurate dosage, automatic detection of glucose level, short and rapid-acting insulin, and convenient usage. The presence of a large base of children and the geriatric population within the target customer group is propelling the market.

Device Type Insights

Based on the type of device, the market is segmented into threshold suspended device system, CTR system, and CTT system. The threshold suspended device system held the largest share in the market in 2015. This device automatically takes action when the patient is unable to respond to threshold suspend alarm and stops insulin delivery when the value of sensor glucose reaches a low threshold.

CTT System is anticipated to witness the fastest growth with 37.6% CAGR, during the forecast period. It is a fully automated system that minimizes patient intervention. Such factors are expected to drive the growth of the market.

Regional Insights

Europe captured the largest market share of around 43% in 2015 owing to the presence of sophisticated healthcare infrastructure, high patient awareness levels coupled with relatively higher healthcare expenditure levels. Moreover, funds provided by the government for providing a better quality of treatment is encouraging industry players and researchers to bring in new technology. For instance, [email protected] project was funded by the European Union for improving patient quality life.

Asia Pacific is expected to exhibit the fastest growth during the forecast period. This region has the highest number of diabetes patients owing to their lifestyle, genetic modification, urbanization, and aging. Over the forecast period, rising incidences of diabetes are expected to support market growth. According to an article published by NCBI, Asian countries contribute more than 60% of the world’s diabetic population, leading to the growth of the APDS market in the region. Additionally, industry players expanding their centers across the region are expected to boost the market. For instance, Johnson & Johnson launched its innovation center in Asia Pacific in 2014 to bring in technological advancement and improve treatment quality. Such factors are driving the growth of the market.

Artificial Pancreas Device System Market Share Insights

A few of the major players include Medtronic Plc, Bigfoot Biomedical, Johnson & Johnson, Tandem Diabetes Care, Inc., Pancreum, Inc., TypeZero Technologies, LLC, and Beta Bionics.

Major players implement strategies such as mergers, acquisitions, partnerships, and launching new products to expand their market share. They are also focusing on the research & development, and a series of clinical trials of new products to remain competitive in the sector.

For instance, in October 2016, Medtronic plc announced the commercial availability of its MiniMed Connect mobile accessory to the Android operating system for better and easy access to an insulin pump and continuous glucose monitoring data.

Also, in July 2016, Bigfoot Biomedical started its first clinical trial for the artificial pancreas. The clinical trial was conducted at three sites, Stanford University School of Medicine in coordination with Lucile Packard Children's Hospital Stanford and Stanford Children's Health in Palo Alto, CA; the William Sansum Diabetes Center in Santa Barbara, CA; and the Barbara Davis Center for Diabetes at the University Of Colorado School Of Medicine in Aurora, CO.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels as well as provides an analysis of the latest trends and opportunities in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global artificial pancreas device system market report on the basis of device type and region:

• Device Type Outlook (Revenue, USD Million, 2013 - 2024)

  • Threshold suspended device system

  • CTR System

  • CTT System

• Regional Outlook (Revenue, USD Million, 2013 - 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa