Artificial Pancreas Market Report
The report on the Global Artificial Pancreas Market is segmented By Control Type (Threshold Suspended Device System, CTR System, CTT System), By Distribution Channel (Hospitals & Clinics, Online Channels, Retail Channels), and Region. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Artificial Pancreas market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Artificial Pancreas Market is segmented By Control Type (Threshold Suspended Device System, CTR System, CTT System), By Distribution Channel (Hospitals & Clinics, Online Channels, Retail Channels), and Region. ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Artificial Pancreas market is expected to grow from USD 164.8 million in 2020 to USD 495.6 million by 2026 at a CAGR of over 20.1% during the forecast period.
Figure: Global Artificial Pancreas Market Size, 2020-2026 (USD Billion)
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The artificial pancreas is a device that mimics the glucose regulating function of a healthy pancreas. These devices use a computer-controlled algorithm to precisely calculate the amount of insulin to be delivered by using an insulin infusion pump. Advanced products can deliver bi-hormones to avoid the excessive fall in blood sugar and more closely mimic the working and operation of a healthy pancreas with little or no input from the patient.
Key players operating in the global artificial pancreas market are-
Rising incidences of diabetes, increasing demand for automated systems for glycemic control, and strong R&D capabilities of market players are some of the key factors augmenting the market growth.
Based on control type, the artificial pancreas market has been categorized into threshold suspended device system, CTR system, and CTT system. Among these, the threshold suspended device system segment garnered the highest market share of 2020 and is projected to grow at a robust CAGR during the forecast timeline. This device automatically acts when the patient is unable to respond to the threshold suspend alarm and stops insulin delivery when the value of sensor glucose reaches a low threshold.
Geographically, the market in North America held the largest share of 2020 and is likely to register a steady CAGR during the review period.
The ongoing COVID-19 pandemic has moderately affected the demand for an artificial pancreas. As the governments and healthcare professionals across the globe are focusing on testing and treatment of COVID-19 affected patients, there is a need for quarantine units to prevent the spread of the virus. Moreover, the lockdown has created stress among the people having a chronic disease such as diabetes-related to medicines and diagnostic tools.
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Here is the list of the group of customers that the Artificial Pancreas market hopes to have the greatest opportunity to convert-
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The artificial pancreas market size is expected to reach USD 495.6 million in the foreseeable future.
Medtronic (Ireland), Bigfoot Biomedical (The U.S), Johnson & Johnson (The U.S), Tandem Diabetes Care, Inc. (The U.S), Pancreum, Inc. (The U.S), TypeZero Technologies, LLC (The U.S), Beta Bionics (The U.S), Medtrum Technologies Inc (Germany), Insulet Corporation (The U.S) and DreaMed Diabetes Ltd (Israel) are among the key players in the artificial pancreas market.
The artificial pancreas market is expected to witness an impressive growth of 20.1% CAGR in the coming years.
North America held the largest share in the artificial pancreas market in 2020.
The threshold suspended device system segment garnered the highest share in the artificial pancreas market in 2020.
Artificial pancreas vendors, Artificial pancreas suppliers, Artificial pancreas distributors, R&D Organizations, Hospitals are the target audience in the artificial pancreas market.