22nd July 2019 – Globally, the artificial
pancreas device system market is predicted to grow at a CAGR of 20.2%
in forecast period, providing numerous opportunities for market players to
invest in research and development. The global artificial pancreas device
system market size is expected to value USD 390.4 million by 2024, during the
forecast period. The artificial pancreas device system industry is subject to
witness a substantial growth due to growing occurrence of heart-related
diseases such as diabetes, extensive research and development efforts by market
players, and growing need for advanced electronic systems in healthcare sector
such as glycemic control. Artificial pancreas device system allows easy
monitoring of the blood-glucose level in case of facilitates diabetes
management.
The pancreas is a part of the human-body
that is responsible for production of multiple hormones such as insulin and
glucagon, along with a few digestive enzymes to allow proper digestion of food
items. Insulin allows body cells to acquire glucose from the blood providing
essential energy for their functioning, at the same time lowering blood glucose
levels. While, glucagon secreted by pancreases is responsible for releasing
glucose that is stored in the liver, raising overall blood glucose levels.
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The growing occurrence of diabetes in
both - developing and developed economies is attributed to changing food
patterns, inherited diseases, obesity, physical inactivity and high calorie
diet, all leading to the growth of the artificial pancreas device system
industry in recent years. Moreover, the patient’s over-dependency on insulin,
mainly in type 2 diabetes is key factor for growing demand for artificial
pancreas device system.
Other factors such as rise in the
awareness among the patient sab out treatment of diabetes and numerous
opportunities for collaboration between FDA and privately-owned institutions
are propelling growth of the artificial pancreas device system industry in the
forecast period. Though, unavailability of highly skilled healthcare
professionals in underdeveloped countries in African and South American regions
is likely to hamper the growth of the market.
Type 1 diabetes commonly arises due to
lower or almost negligible production of insulin that is needed to regulate blood
glucose level in the body. While, in type 2 diabetes production insulin or
already present insulin is resisted by body itself, causing adverse effects.
The artificial pancreas device system is responsible for closely monitoring the
glucose level by mimicking functionality of a healthy pancreas. The common type
of the artificial pancreas device system utilized by number of diabetes
patients these days are a constant glucose monitoring (CGM) devices and an
insulin infusion pump.
Special types of devices are used such
as a blood glucose devices or glucose meters to regulate the constant glucose
monitoring (CGM) system. A computerized system is implemented in order to
manage constant glucose monitoring (CGM) and insulin infusion pump, providing
consistent communication between the two devices. An artificial pancreas device
system is also termed as a closed-loop system or an automated insulin delivery
system. The artificial pancreas device systems manage glucose level in blood,
while regulating or automatically changing the production of insulin in blood
to decrease high blood glucose levels such as hyperglycemia. The artificial
pancreas device system also monitors and regulate low blood sugar level as
required.
The artificial pancreas device system
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise adoption of latest technologies in healthcare sector and existence
well-established healthcare infrastructure. Asia-Pacific region is predicted to
hold the major market share in the artificial pancreas device system industry
with massive growth in the forecast period. Countries such as India, China and
Singapore are leading the Asia-Pacific market with the changing food habits,
genetic modification, and growing elderly population.
The key players in the artificial
pancreas device system market are Bigfoot Biomedical Co., Johnson & Johnson
Inc., Tandem Diabetes Care Incorporations, Pancreum, Incorporations, TypeZero
Technologies, and Beta Bionics, Inc.
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