Artificial Pancreas Device System Market by Device Type - Global Industry Analysis and Forecast to 2025

Report Code : HC0683

Pancreas is an organ which helps to digest the food and in regulation of blood sugar level. The function of pancreas is affected due to diabetes. Diabetes occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin. In type 1 diabetes, the body cannot produce enough insulin as the immune system destroys the beta cells in pancreas. These beta cells are responsible for producing insulin. Type 1 diabetes is also known as juvenile diabetes or insulin dependent diabetes. Symptoms of type1 diabetes are polyphagia, polyuria, polydipsia, feeling tired, and irritability, slow healing of cuts, blurred vision and diabetic ketoacidosis. The risk factors associated with type 1 diabetes are genetics, age, and family history. Complications associated with type 1 diabetes are eye damage, nerve damage and heart disease. Type 1 diabetes is diagnosed with help of fasting blood sugar test, glycated hemoglobin (A1C) test and random blood sugar test. It can be managed by the use of insulin, frequent monitoring of blood sugar level, artificial pancreas devices, exercising regularly and eating healthy food.

Artificial pancreas is a closed loop system which links a continuous glucose monitor with an insulin pump and helps in monitoring the blood glucose level. This system delivers right amount of insulin dosage to reduce the blood glucose level, similar to what pancreas do in people without diabetes. There are three components in artificial pancreas system, namely, continuous glucose monitor, insulin pump and control algorithm. The continuous blood glucose monitor displays the blood glucose level of the patient. The sensor which is inserted in patient’s skin measures the glucose present in the interstitial cells. Further, the receiver receives the information about the blood glucose level via a transmitter and the blood glucose level is displayed on the monitor of the device. The next component is insulin pump which delivers a correct dose of insulin via a cannula. The last component is control algorithm which receives information from continuous glucose monitoring device. This device estimates the amount of insulin to be delivered and sends the instruction to the insulin pump.

The major factor for driving the growth of artificial pancreas market is increase in the prevalence of type 1 diabetes. According to International Diabetes Federation, in 2015, diabetes affected 415 million people worldwide and this number is expected to reach up to 642 million by 2040. It also states that worldwide, around 542,000 children were suffering from type 1 diabetes. Additionally, increase in the prevalence of geriatric population is also an important factor which will drive this market. According to WHO, in 2015, 900 million people were 60 years of age or older and this number is expected to reach up to 2 billion by 2050. Moreover, collaborations between companies for studying artificial pancreas system are also likely to fuel the growth of this market. For instance, in November 2016, Tandem Diabetes Care, Inc., DexCom, Inc. and TypeZero collaborated to study the artificial pancreas system. Furthermore, increase in the R&D activities will further boost the growth of this market. For instance, in May 2017, Senseonics Holdings, Inc. and TypeZero Technologies, Inc. signed development agreement for Artificial Pancreas. The aim of this agreement is integration of glucose readings ‘Eversense’ which is a CGM System, into ‘inControl’ which is a software platform from TypeZero Technologies, Inc. Currently, insulin in the artificial pancreas device system takes longer time for absorption which can hamper the growth of this market.

The key strategy adopted by the major players in the market is product launch to become a pioneer and more share. For instance, in September 2016, FDA approved Minimed 670G system by Medtronic. This device delivers correct dose of insulin 24 hours a day based on the insulin requirement by the individual. With the launch of Minimed 670G system, Medtronic became a pioneer in the artificial pancreas market and will gain more market share. 

The major players in the artificial pancreas devices system market are Johnson & Johnson Services Inc., Pancreum, Inc., Beta Bionics, TypeZero Technologies, Inc., and Medtronic

Artificial Pancreas Device System Market Segmentation:

By Device Type:

  • CTT System
  • Threshold Suspended Device System
  • CTR System

By Region:

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • Turkey
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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