Artificial Pancreas Market growing at a rate of 15.2 % till 2023

Market Overview

The global artificial pancreas market is anticipated to garner USD 360 million with a CAGR of 15.2% during the forecast period (2017-2023) owing to the sedentary lifestyle, asserts Market Research Future (MRFR).

The artificial pancreas is referred to as devices which mimic the glucose regulatory function of a healthy pancreas. Such devices utilize computer-controlled algorithm so that it can calculate the specific amount of insulin which needs to be delivered using an insulin infusion pump. With the help of advanced products, bi-hormones can be delivered so that excessive fall in blood sugar can be avoided.

The global artificial pancreas market is growing at a rate of 15.2 % and is expected show a similar trend during the forecast period.

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The global artificial pancreas market has been segmented on the basis of type, treatment type, and end-users.

By mode of type, the global artificial pancreas market has been segmented into non-threshold suspend device system; threshold suspend device system, control-to-target (CTT) system, and control-to-range (CTR) system. Among these, the threshold suspended device system occupies the largest market share. This device takes actions automatically whenever the patient is unable to respond to the threshold suspend alarm.

By mode of treatment type, the global artificial pancreas market has been segmented into bi-hormonal, insulin only, and hybrid.

By mode of end-users, the global artificial pancreas market has been segmented into research, hospitals and clinics, and others.

Competitive Analysis:

The noteworthy players operating the global artificial pancreas market are Medtronic, Johnson & Johnson, Insulet, Dexcom, Bigfoot Biomedical, Tandem Diabetes Care, Defymed, TypeZero Technologies, Medtronic, MedTech, Beta Bionics, Semma Therapeutics, Admetsys (pipeline product analysis), Animas Corporation, and others.

Regional Analysis:

Geographically, the artificial pancreas market has been studied under regions namely, Europe, North America, Asia Pacific, and the Middle East and Africa.

Among all the regions, the North American region is considered to account for the maximum share and is likely to retain its position throughout the assessment period. The growth is attributed to the augmenting healthcare expenditure, increasing incidences of diabetes and obesity, coupled with favorable reimbursement scenario in this region.

Europe is predicted to occupy the second largest position in the global artificial pancreas market. The growth is credited to the high disposable income coupled with the high adoption of technologically advanced treatments in this region.

The Asia Pacific is estimated to experience a higher growth potential due to the augmenting geriatric population, growing awareness associated with the availability of treatments, and the rising incidences of diabetes. Meanwhile, the lack of primary healthcare coupled with the low penetration of advanced technology is likely to impede the growth in the Middle East and African region.

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Mrfr often plans & conducts meet with the industry experts and industrial visits for its research analyst members.