Eating
habits of type 1 diabetes patients is highly curtailed, complemented
by regular administration of insulin. Type 1 diabetes patients
require multiple doses of insulin in a day and all-round the year.
Advancements in research and technology has led to commercialization
of easy-to-us insulin delivery systems such as insulin pens, pumps,
inhaled insulin, and injectors. Use of syringes to deliver insulin
has become obsolete with the introduction of advanced and easy-to-use
insulin delivery systems mentioned above. Moreover, these systems
offer the convenience to self-administer insulin at home. An
artificial pancreas is a novel concept that promises to revolutionize
the entire diabetes market. The system automatically detects glucose
level in patient’s blood or plasma and accordingly administers the
necessary dosage of insulin. Medtronic’s MiniMed 670G is one such
wearable artificial pancreas. The system is automated to monitor
glucose levels and deliver insulin through an insulin pump attached
to the system. The artificial pancreas system comprises a
transmitter, sensor, and insulin pump. This helps in continuous
monitoring and diabetes management at ease.
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Market
Dynamics
The
artificial pancreas device system (APDS) market growth would be
mainly driven by increasing adoption of the highly useful systems the
large base of diabetes type 1 patients, further supplemented by ever
increasing incidence of type 1 diabetes. According to the World
Health Organization (WHO), number of diabetes patients worldwide
increased from 108 million in 1980 to 422 million in 2014. According
to Juvenile Diabetes Research Foundation (JDRF), there were around
1.5 million type 1 diabetics worldwide in 2015. JDRF funds research
in diabetes 1 and the non-profit organization expected the first
artificial pancreas to be commercialized in 2017. According to the
Center for Disease Control and Prevention (CDC), type 1 diabetes
accounts for around 5% of the total diagnosed diabetes cases in
adults in the U.S. Developed regions are expected to dominate the
artificial pancreas device system (APDS) market size, as these
regions are early adopters of disruptive technologies. With the
introduction of this technology, market for insulin pens and
injectors is expected to be impacted negatively.
The
global artificial pancreas device system (APDS) market was valued at
US$ 64.0 million in 2015 and is expected to witness a moderate CAGR
of 18.6% during the forecast period (2016 – 2024).
Top
Movers of The Market
Key
companies covered as a part of this study include Medtronic, Medtrum,
Tandem Diabetes Care, Inc., Johnson & Johnson, Beta Bionics,
Bigfoot Biomedical, and Insulet Corporation
Technological
advancements to drive growth of the global artificial pancreas device
system (APDS) market
In
2016, the U.S. FDA approved a hybrid closed-loop artificial pancreas
device system (APDS) MiniMed 670G which is an automated system. The
continuous glucose monitor in the system automatically sends signals
to the insulin pump to deliver insulin when the glucose level in body
goes beyond the acceptable limit. Thus, there is no need for the user
to stimulate the release of insulin every time the glucose level is
abnormal. This provide the user freedom to perform his/her daily
activities. Such advancement in T1D management is expected to be
highly preferred by the users and medical community, leading to
higher advocacy to use this device especially among the patient group
using insulin pumps.
Detailed
Segmentation:
Global
Artificial Pancreas Device System (APDS) Market, By Technology:
-
Threshold Suspended Device Systems
-
Treat to Range/Control to Range (TTR/CTR)
-
Treat to Target/ Control to Target (TTR/CTT)
Global
Artificial Pancreas Device System (APDS) Market, By Distribution
Channel:
-
E-commerce
-
Standalone Retail Shops
-
Hospitals
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