Artificial Pancreas Device System (APDS) Market to Surpass US$ 0.25 Billion by 2024: CMI

The global artificial pancreas device system (APDS) market was valued at US$ 64.0 million in 2015 and is projected to expand at a CAGR of 18.6 % during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Growing demand for continuous diabetes monitoring and minimally invasive drug delivery system is expected to fuel growth of the artificial pancreas device system (APDS) market.

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Type 1 diabetes patients require multiple doses of insulin through the day in order to manage their diabetes condition. Considering the current lack of feasible alternative solution to manage type 1 diabetes apart from administering insulin, an artificial pancreas that offers convenience with continuous management of glucose level in the body is the next best solution. An artificial pancreas system works 24 hours to automatically monitor and administer insulin in controlled amounts as per variations in glucose levels in the body. Medtronic’s MiniMed 620G and 640G were the first such devices launched in the global artificial pancreas device system (APDS) market in 2014 and 2015, respectively. Artificial pancreas system would ease the life of type 1 diabetic patients by eliminating the need for regular check on glucose level and administering insulin using injectors or pens.

Various companies are researching and developing artificial pancreas systems that are expected to enter the global artificial pancreas device system (APDS) market in the not-too-distant future. Bigfoot Medical, Tandem Diabetes Care, Inc., and Beta Bionics are conducting clinical trials on their artificial pancreas systems. The products are expected to be launched before 2020 and would stimulate market growth at an exponential rate. However, to no one’s notice there is another artificial pancreas system besides Medtronic’s 640G, Medtrum’s P6 Easy Touch Disposable Pump already marketed in Europe. This is a semi-closed loop artificial pancreas that has 9% mean absolute relative difference (MARD), better than Freestyle Libre (11.4% MARD)

The closed loop system is a life changing device for type 1 diabetes patients giving them freedom to live an uninterrupted life. Though the FDA has approved a hybrid model of an artificial pancreas, wherein the patient needs to adjust insulin intake during mealtime, an automated system would be a breakthrough innovation in the global artificial pancreas device system (APDS) market. Moreover, studies for bi-hormonal control system are underway that would enable controlling both hypoglycemic and hyperglycemic conditions. A bi-hormonal control system consists of dual-chamber pump, one containing insulin and the other containing its counteracting hormone, glucagon.

According to the industry and Center for Diseases Control and Prevention (CDC) estimates, type 1 diabetes population accounts for nearly 5% of the total diabetic population. According to Juvenile Diabetes Research Foundation (JDRF), there were around 1.5 million type 1 diabetics worldwide in 2015. The CDC estimates that more than 13,000 young people are diagnosed with type 1 diabetes every year in the U.S. Increase in the population base along with the quest for developing an innovative diabetes monitoring and management therapy is projected to drive growth of the global artificial pancreas device system (APDS) market.

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Key takeaways of the market:

• The global artificial pancreas device system (APDS) market is characterized by collaborations between players in order allow for early commercial launch of their products. Moreover, a number of products are in development with different artificial pancreas system technologies. However, an automated hybrid closed-loop system would dominate the market owing to better features offering convenience and minimal monitoring and work for the patient to administer insulin.
• The global artificial pancreas device system (APDS) market is expected to experience very high growth during the forecast period with expected launch of new systems every year till 2020, after which it is expected to register sustained stable growth
• The market for control to target (CTT) artificial pancreas system is expected to grow rapidly with the launch of MiniMed 670G, which will eliminate the need for setting insulin dose by the patient at meal times
• Type 2 diabetic patents hold more than 95% share in the global artificial pancreas device system (APDS) market
• Furthermore, being a novel device, the market for artificial pancreas system is estimated to be high and rapidly growing in North America and Europe as these are the major target markets for market players. Launch of artificial pancreas system later in emerging economies is expected to stimulate growth in Asia Pacific and Latin America artificial pancreas device system (APDS) markets towards the latter half of the forecast period.
• Medtronic is expected to account for a major share of the global artificial pancreas device system (APDS) market, with a range of products such as MiniMed 530G, 640G, and 670G expected to be launched during the forecast period

About CMI

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Artificial Pancreas Market - Industry Insights, Trends, and Opportunity Analysis, 2016-2024

Artificial pancreas is a disruptive technology that is expected to revolutionize the diabetes market in near future especially for type 1 diabetes treatment. Type 1 diabetes, characterized by inadequate insulin production, requires daily administration of insulin to regulate the amount of glucose in the body. Thus, patients suffering from type 1 diabetes need to be regularly monitor their blood glucose levels and administer insulin accordingly. According to the World Health Organization (WHO), number of diabetes patients worldwide has 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. There are no commercially available treatment option for type 1 diabetes. Therefore, organizations such as JDRF and OpenAPS are focusing only on developing effective and compliant therapies for type 1 diabetes. Artificial pancreas market outlook is optimistic for early entrants.

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Medtronic’s MiniMed 670G – The First of its Kind in Artificial Pancreas Market Outlook

Medtronic entered the artificial pancreas market with introduction of MiniMed. MiniMed 670G—the first of its kind artificial pancreas for treatment of diabetes 1—received FDA approval in September 2016. The device would be made available in 2017. MiniMed 670G combines an automated glucose monitor and an insulin pump. The FDA has granted approval for this device to be used in patients aged 14 years and above. Once additional real-life tests are successfully carried out by the company, the product would be accessible to the target user group, mainly the pediatric population.

MiniMed 670G is a hybrid closed-loop system that automates the cumbersome process of monitoring and adjusting glucose and insulin levels in type 1 diabetes patients. Patients can monitor health through a device like a smartphone. This artificial pancreas would help patients sleep well at night and wake-up with a healthy glucose levels. Moreover, Medtronic’s MiniMed 670G artificial pancreas would improve therapy adherence and allow patients to live life unlike previously where there was a need for regular intervention. Various regional players are expected emerge in the artificial pancreas market in near future in order to capitalize on lucrative growth opportunities.

However, emergence of other disruptive technology could somewhat affect the overall growth of artificial pancreas market revenue. For instance, automated insulin delivery device is a prospective alternative to artificial pancreas. OpenAPS—a do-it-yourself (DIY) automated insulin delivery system—is an open source design that can be used by anyone to connect their CGM and insulin pump to make it an artificial pancreas. The device was developed in 2013 by Ben West, Dana Lewis, and Scott Leibrand.

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North America and Europe to dominate the Artificial Pancreas Market Size

According to the Center for Disease Control and Prevention (CDC), there were 29.1 million diabetic patients in the U.S. in 2015, of which 8.1 million are undiagnosed. Type 1 diabetes accounts for around 5% of the total diagnosed diabetes cases in adults in the U.S. Type 1 diabetes is common among Scandinavian population and in Sardinia and Kuwait and less common in Asia and Latin America. Developed regions are expected to dominate the artificial pancreas market size, owing to early adopters of disruptive technology. Success achieved in these markets influences companies to enter into emerging markets, where the regulations, distribution and purchase/treatment patterns vary widely.

Conclusion

Medtronic’s MiniMed 670G artificial pancreas only needs to be calibrated by the patient, while the rest is taken care of by the automated device. Adoption would be a little slow, especially in developing countries, considering the high price of the device. However, given the long-term gains from the device, adoption is expected to increase over time. According to the CDC, the annual healthcare burden due to diabetes to the U.S. government was US$ 176 billion in 2012. Governments and insurance providers are pushing pharmaceutical and medical device companies to reduce medicine and device costs. This is expected to have a significant impact on the pricing of the artificial pancreas. There is high demand for effective treatment of diabetes. As such, addressable market is expected to generate high return on investment (ROI) for artificial pancreas market players.

About Coherent

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. Our client base includes players from across all business verticals in over 150 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We offer both customized and syndicated market research reports that help our clients create visionary growth plans to provide traction to their business. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele. Our global team of over 100 research analysts and freelance consultants provide market intelligence from the very molecular country level and also provide a global perspective of the market. Our team is of the most vital cog in our robust machinery that gives us the ability to deliver independent insight relying on our cognitive defusion training module.This allows for an objective and unbiased assessment of the market. We pride ourselves in my constantly striving to update our extremely in-depth understanding of the market by closely monitoring and analyzing markets, trends, and emerging best practices, across allfathomable industries under the sun. This enables us to equip our valued clientele with key decisive inputs to capitalize on lucrative growth opportunities in the market and to follow firmly position themselves on a high growth path in the future.