Richmond, Dec. 04, 2023 (GLOBE NEWSWIRE) -- According to a research report "Artificial Pancreas Device Systems (APDS) Market, by Device Type (Threshold Suspended Device System, Control to Range (CTR) System, Control to Target (CTT) System), End-user (Hospitals and clinics, Homecare, Others), and Region.
Global Artificial Pancreas Device Systems (APDS) Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 331 Million |
| Market size value in 2030 | USD 1,099.0 Million |
| CAGR (2023-2030) | 18.7% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Device Type, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Artificial Pancreas Device Systems (APDS) Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Artificial Pancreas Device Systems (APDS) market represents a transformative frontier in the field of diabetes management, offering a paradigm shift from conventional insulin therapy. An Artificial Pancreas Device System is an integrated medical system designed to automate and optimize the delivery of insulin to individuals with diabetes. This innovative technology aims to mimic the functions of the human pancreas by continuously monitoring blood glucose levels and adjusting insulin delivery in real-time. The APDS market is experiencing dynamic growth, driven by the rising prevalence of diabetes, increasing demand for effective and convenient diabetes management solutions, and ongoing technological advancements.
The increasing prevalence of diabetes, particularly type 1 diabetes, is a major factor driving the APDS market. According to the International Diabetes Federation, in 2021, an estimated 537 million adults worldwide were living with diabetes. This global burden of diabetes is placing a significant strain on healthcare systems and individual lives, highlighting the urgent need for innovative and effective diabetes management solutions. APDS offer several advantages over traditional insulin therapy methods, including improved glycemic control, reduced risk of hypoglycemia, and enhanced patient convenience. These benefits are attracting growing interest from patients, healthcare providers, and payers, fueling the demand for APDS devices.
Major Vendors in the Global Artificial Pancreas Device Systems (APDS) Market:
- Admetsys Corp.
- Beta Bionics, Inc.
- Bigfoot Biomedical, Inc.
- Defymed
- DexCom, Inc.
- Diabeloop
- GE Healthcare
- Inreda Diabetic
- Insulet Corporation
- Johnson & Johnson
- Medtronic PLC
- Omron Healthcare, Inc.
- Pancreum, Inc.
- Philips
- Spacelabs Healthcare Inc.
- SunTech Medical, Inc.
- Tandem Diabetes Care, Inc.
- TypeZero Technologies, LLC
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Growing prevalence of diabetes
The market for artificial pancreas device systems (APDS) is witnessing significant growth and presents a promising opportunity for various companies operating in the healthcare and medical technology sectors. With the increasing prevalence of diabetes worldwide and the growing demand for advanced and automated diabetes management solutions, the APDS market is poised for expansion. Several key factors contribute to the favorable outlook of the APDS market. First and foremost, the rising incidence of diabetes, both type 1 and type 2, is driving the need for more effective and efficient ways to manage blood glucose levels. APDS offers a comprehensive solution by automating insulin delivery, providing real-time monitoring, and offering improved glycemic control.
Market Dynamics
Drivers:
- Growing prevalence of diabetes
- Rising demand for automated systems for glycemic control
- Technological advancements in continuous glucose monitoring sensors
Opportunities:
- Increasing research and development activities
- The growing awareness among healthcare professionals
- Regulatory Support and Approvals
Increasing research and development activities
The artificial pancreas device systems (APDS) market is buoyed by the expanding landscape of research and development (R&D) activities within the healthcare and medical technology sectors. The relentless pursuit of innovation and advancements in diabetes management has led to a surge in R&D initiatives focused on refining and expanding the capabilities of APDS. As researchers and engineers delve deeper into understanding the intricacies of diabetes and the complexities of glucose regulation, the opportunity for breakthrough technologies within the APDS market grows exponentially.
The increased investment in R&D is fostering the creation of more sophisticated APDS solutions, integrating cutting-edge technologies such as artificial intelligence, machine learning, and data analytics. These advancements are aimed at enhancing the precision and personalization of insulin delivery, optimizing glucose monitoring, and improving overall patient outcomes. Moreover, collaborative efforts between research institutions, healthcare organizations, and industry players are accelerating the translation of research findings into practical applications, driving the commercialization of innovative APDS products.
The market for Artificial Pancreas Device Systems (APDS) is dominated by North America.
North America is anticipated to hold the largest share in the global artificial pancreas device systems (APDS) Market, driven by several factors. The region's market dominance is attributed to the rising prevalence of diabetes, the robust presence of industry players, well-developed healthcare infrastructure, growing awareness about advanced diabetes management solutions, and a high concentration of market participants. The surge in the diabetes population, particularly in the United States, is a major driving force behind the market expansion. The United States alone accounts for nearly half of the total APDS market revenue. This high prevalence is fueled by factors such as unhealthy lifestyle choices, genetic predisposition, and aging demographics.
The presence of leading industry players in North America further contributes to its market dominance. Renowned companies like Medtronic, Tandem Diabetes Care, and Insulet Corporation hold key technologies and patents, and their active involvement in research and development fuels innovation in the APDS market.
North America also boasts superior healthcare infrastructure, which facilitates the adoption and utilization of advanced diabetes management technologies. This infrastructure includes well-equipped hospitals, specialized diabetes care centers, and a network of healthcare professionals trained to handle APDS devices.
The Services Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
The market by device type is categorized into threshold suspend device systems, control-to-range (CTR) systems, control-to-target (CTT) systems. Threshold Suspended Device Systems (TSDS) have emerged as the dominant device type segment in the Artificial Pancreas Device Systems (APDS) market, capturing a significant share of the global revenue. This dominance stems from the inherent advantages of TSDS over other APDS systems, particularly in their ability to effectively prevent hypoglycemic events.
TSDS operate by automatically suspending insulin delivery when blood glucose levels fall below a predetermined threshold. This feature effectively curbs the risk of hypoglycemias, a dangerous condition characterized by abnormally low blood sugar levels. By preventing hypoglycaemia, TSDS not only enhance diabetes management but also improve patient safety and quality of life. The rising prevalence of diabetes, coupled with the increasing demand for more effective and safer diabetes management solutions, has further fueled the growth of the TSDS segment. Patients with diabetes, particularly those with type 1 diabetes, are increasingly opting for TSDS due to their proven ability to minimize hypoglycemia and optimize blood glucose control.
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