Artificial Pancreas Market Growth Analysis | 2021-2026

Market Insights

The artificial pancreas market was estimated at USD 164.8 million in 2020 and is likely to grow at a CAGR of 20.1% during 2021-2026 to reach USD 484.7 million in 2026.

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What is an artificial pancreas?

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.

COVID-19 Impact

The ongoing COVID-19 pandemic has moderately affected the demand for an artificial pancreas. As 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 people having a chronic disease such as diabetes related to medicines and diagnostic tools.

Key Players

Key players operating in the global market are-

• 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).

Market Dynamics

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.

• Also, an artificial pancreas device system controls the blood glucose level in diabetic patients and industry participants are focusing on conducting various research for better diabetic management.
• Due to its flexibility, automatic detection of glucose level, accurate dosage, convenient usage, and short and rapid-acting insulin features, there is a surging demand for the product.

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Segment Analysis

By Control Type

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.

Regional Insights

Geographically, the market in North America held the largest share of 2020 and is likely to register a steady CAGR during the review period.

• This is mainly attributed to increasing in the number of patients with diabetes, rising demand for artificial pancreas device systems in the region, presence of well-established companies, quick adoption of advanced technologies, strong healthcare expenditure, and extensive R&D by major companies in North America contribute to the growth of the regional market.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The artificial pancreas market is segmented into the following categories.

By Control Type

• Threshold Suspended Device System
• CTR System
• CTT System

By Distribution Channel Type

• Hospitals & Clinics
• Online Channels
• Retail Channels

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Target Audience

Here is the list of the group of customers that the artificial pancreas market hopes to have the greatest opportunity to convert-

• Artificial pancreas vendors
• Artificial pancreas suppliers
• Artificial pancreas distributors
• R&D Organizations
• Hospitals

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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