Global artificial pancreas device system (APDS) Market Size, by Technology (Threshold Suspended Device Systems, Treat to Range/Control to Range (TTR/CTR), and Treat to Target/ Control to Target (TTR/CTT)), by Distribution Channel (Hospitals & Clinics, Online Channels, and Retail Channels), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 123.5 Mn in 2018, and is expected to exhibit a CAGR of 14.1% over the forecast period (2020–2027).
- Approvals, launches and frequent partnerships among key players for development of novel artificial pancreas is expected to drive the global artificial pancreas device system (APDS) market growth over the forecast period.
- In July 2018, Beta Bionics, Inc., announced the U.S. FDA approval of a supplement filed by Beta Bionics to its previously approved investigational device exemption (IDE), expanding ongoing home-use clinical trials testing its new integrated technology, which combines the iLet bionic pancreas and the Senseonics Eversense CGM. With this approval, Beta Bionics, Inc. began clinical testing of Eversense-compatible iLet comes less than three weeks after Senseonics received the U.S. FDA approval to begin commercial marketing of Eversense for adults with diabetes.
In November 2018, Diabeloop SA, a France- based medical device company, received the CE marking for its new artificial pancreas system DBLG1 for adults with type 1 diabetes. Approval and launch of such novel artificial pancreas device systems (APDS) is expected to drive growth of the APDS market over the forecast period.
Browse 25 Market Data Tables and 28 Figures spread through 150 Pages and in-depth TOC on Global Artificial Pancreas Device System (APDS) Market Technology (Threshold Suspended Device Systems, Treat to Range/Control to Range (TTR/CTR), and Treat to Target/ Control to Target (TTR/CTT)), by Distribution Channel (Hospitals & Clinics, Online Channels, and Retail Channels), and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2027
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Key players in the market are focusing on strategic partnerships and collaborations for developing novel artificial pancreas device systems. Such partnerships among key players might lead to development of novel devices, and drive the global artificial pancreas device system (APDS) market growth over the forecast period. For instance, in April 2019, Diabeloop SA and ViCentra entered a distribution agreement to make the DBLG1 artificial pancreas system commercially available in selected countries in Europe. In 2015, Medtronic Plc., and Israel- based company, DreaMed Diabetes entered an agreement which incorporated DreaMed’s patented artificial pancreas technology into Medtronic’s insulin pumps. According to the agreement, DreaMed received undisclosed royalties for Medtronic devices that utilize the flagship GlucoSitter automated insulin delivery system.
Key Takeaways of the Global Artificial Pancreas Device System (APDS) Market:
- The global artificial pancreas device system (APDS) market is expected to exhibit a CAGR of 14.1% over the forecast period (2020 – 2027), owing to frequent product launches and approvals, and a robust pipeline of novel artificial pancreas device systems
- Among region, North America artificial pancreas device system (APDS) market is expected to hold the dominant position owing to high demand for technologically advanced devices from the U.S. Furthermore, the U.S. is expected to witness lucrative growth owing to high adoption of advance devices and rising prevalence of diabetes.
- Key players in the market are focusing on launching reimbursement programs to increase adoption of their artificial pancreas device systems. For instance, in June 2018, Medtronic plc. launched an outcome-based reimbursement program for its MiniMed 670G automated insulin delivery system. According to the program, the company will provide flat-fee reimbursements of up to US$ 25,000 per pump over four years for diabetes-related inpatient hospitalization and ER admissions.
- Major players operating in the global artificial pancreas device system (APDS) market include Medtronic Plc., Medtrum Technologies Inc., Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics, Inc., Bigfoot Biomedical, Insulet Corporation, Pancreum, Inc., TypeZero Technologies, Inc., DreaMed Diabetes Ltd, and Inreda Diabetic BV.