Pune, India -- (SBWIRE) -- 01/23/2020 -- Infinium Global Research has recently published a trending report on Artificial Pancreas Device System Market delivering key insights and providing a competitive advantage to clients through a detailed report. Artificial pancreas device (APD) systems are externally worn medical devices that are being developed to enable people with type 1 diabetes to regulate their blood glucose levels in a more automated way. Pancreas in patients suffering from diabetes does not produce enough insulin to maintain the blood glucose level in the body. The artificial pancreas device system works with continuous glucose monitoring (CGMs) and a smart algorithm system that automatically detects and adjusts insulin delivery via a pump. The global artificial pancreas device system market is projected to grow at a CAGR of 15.5% over the forecast period of 2019-2025.

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Increasing Prevalence of Diabetes Driving the Artificial Pancreas Device System Market 

According to the World Health Organization, the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. The global prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.55 in 2014. In 2016, an estimated 1.6% million deaths were directly caused by diabetes. Another 2.2 million deaths were attributable to high blood glucose in 2012. The WHO estimates that diabetes was the seventh leading cause of death in 2016.

According to the International Diabetes Federation (IDF), in 2017, the number of people with diabetes in North America was approximately 46 million which is expected to grow at 62 million in 2045.

The use of an artificial pancreas device system that continuously monitors blood glucose is often found to be useful for many patients and the U.S. FDA is closely collaborating with academic investigators, diabetes patients, and care providers to develop innovative devices that will accelerate the development of the pancreas device system market.

Threshold Suspended Device System to Foresee a Huge Growth During the Forecast Period

According to the analyst at Infinium Global Research, the scope of the market is analyzed on the basis of device type, treatment type, and end-user. Based on the device type, the study includes a control-to-range (CTR) system, threshold suspended device system and control-to-target (CTT) system. Based on the treatment type, the study includes bi-hormonal, insulin only, and hybrid. Based on the end-user, the study includes hospitals, research institutes, and other end users.

Based on the device type, the threshold suspended device system segment is anticipated to account for the largest in the upcoming years. The main aim of the threshold suspended device which is also referred as "low glucose suspend systems " is to reverse its severity by temporarily suspending insulin delivery when the glucose level falls to or approaches a low glucose threshold thus acting as a potential back-up when a patient is unable to respond to low blood sugar event. Owing to this factor threshold suspended device system segment is poised to hold a significant share during the forecast period. 

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North America is Expected to Dominate the Market During the Forecast Period

The market in North America especially the U.S. dominates the global artificial pancreas device system market due to the availability of modern healthcare facilities, faster market uptake of new technologies and well –established reimbursement policies.

On June 21, 2018, the FDA approved the t: slim X2 Insulin Pump with Basal-IQ Technology (PMA P180008) for individuals who are 6 years of age and older. The System consists of the t: slim X2 Insulin Pump paired with the Dexcom G5 Mobile CGM (Continuous Glucose Monitor), as well as the Basal-IQ Technology. The t: slim X2 Insulin Pump is intended for the subcutaneous delivery of insulin, at set and variable rates, for the management of diabetes mellitus in persons requiring insulin.

A new software system called Control-IQ is manufactured by Tandem diabetes care was just approved for use by the Food and Drug Administration. It will reach patients in January 2020.

Artificial Pancreas Device System Market: Competitive Analysis

The market is competitive, and approvals and agreements were observed as the most adopted strategy in the global artificial pancreas device systems industry. The key players are indulged in bringing new products to the market to keep to the pace of the competitive market nature such as Bigfoot Biomedical has introduced simplified monthly subscription, one prescription, and one copay service model for its integrated insulin delivery platforms to treat insulin-dependent type 1 or 2 diabetes.

The key players featured in the report are Bigfoot Biomedical, Johnson & Johnson, Medtronic plc, TypeZero Technologies, Semma Therapeutics, Insulet Corporation, Beta Bionics, Defymed, Animas Corporation, Tandem Diabetes Care, and Other companies.

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=> Comprehensive analysis of global as well as regional markets of the artificial pancreas device system.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.