Artificial Pancreas Device System Market is expected to reach US$ 3,585.75 million by 2028

Publisher: The Insight Partners

Risk Factors such as Aging and Obesity contributes to the Increased Demand of Artificial Pancreas Device Systems

According to our new research study on “Artificial Pancreas Device System Market Forecast to 2028– by Type and Geography,” the market is expected to grow from US$ 1,190.23 million in 2022 to US$ 3,585.75 million by 2028; it is estimated to grow at a CAGR 20.28% during 2022–2028. The report highlights the trends prevailing in the market, along with market drivers and deterrents. Factors driving the market growth include the growing prevalence of diabetes, developments by major players, and a rise in demand for computerized systems for glycemic control. However, the availability of alternatives for artificial pancreas device systems and the high cost of artificial pancreas device systems hamper the growth of the market.

Artificial Pancreas Device System, by Region, 2017(%)

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The global artificial pancreas device system market is segmented based on type: control to range, control to target, and threshold-suspended device systems. In 2022, the threshold-suspended device systems segment held the largest share of the market. The same segment is expected to witness exponential growth throughout the forecast period. The increasing global prevalence of type 1 diabetes is a key factor driving the segment's growth as this is a promising device for treating hypoglycemic conditions. Threshold suspended device system is also referred to as low glucose suspend system. This system is used when the patient is suffering from severe hypoglycemia, and insulin is delivered to increase the glucose levels in the body.

Risk factors such as aging, obesity, overweight and unhealthy lifestyle is one of the crucial factors contributing to the growth of artificial pancreas device systems market.  As per the World Health Organization, in 2020, the number of people aged 60 years and above were more than children younger than 5 years. It also reported that between 2015 and 2050, the proportion of the world's population aged 60 years or more will nearly double that is from 12% to 22%. Similarly, as per the Population Reference Bureau,  the number of Americans aged 65 and older is estimated to double from 52 million in 2018 to 95 million by 2060.

Furthermore, as per the Harvard University, around two out of three U.S. adults are overweight or obese (69 percent) and one out of three are obese (36 percent). Similarly, as per the Health Survey for England 2021, estimated that 25.9% of adults in England are obese and a further 37.9% are overweight. Increasing prevalence of aging and obesity is likely to increase the demand for artificial pancreas device systems which is further likely to enhance the growth of the market.

A few of the prominent players operating in the artificial pancreas device system are Defymed; Typezero Technologies, Inc; Insulet Corporation; Bigfoot Biomedical, Inc; Medtronic; Dexcom, Inc; Admetsys; Beta Bionics; Cellnovo; and Tandem Diabetes Care, Inc.

Companies are launching new and innovative products and services to sustain their position in the market. In June 2018, Medtronic launched MiniMed 670G Performance Guarantee Program to deliver improved clinical outcomes.

The report segments the global artificial pancreas device system market as follows: 

In terms of geography, the artificial pancreas device system is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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