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    Artificial Pancreas Market Report

    Artificial Pancreas Market Report
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    Global Artificial Pancreas Market, Dynamics, and Market Analysis
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    Impact of COVID-19 on Artificial Pancreas Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Artificial Pancreas Market

    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.

    Market Insights

    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)

    Artificial-Pancreas-Market-Forecast

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    What is 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.

    Key Players

    Key players operating in the global artificial pancreas 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.

    Segment Analysis

    Control Type Trends

    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 Trends

    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.

    COVID-19 Impact on Global Artificial Pancreas market

    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.

    Critical Questions Answered in the Report

    • What are the key trends in the global artificial pancreas 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 artificial pancreas market?
    • What are the key strategies adopted by the major vendors to lead in the global artificial pancreas market?
    • What is the market share of the top vendors?

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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

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    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.

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