Artificial Pancreas Devices System Market Set to Grow Globally at a CAGR of 7.40% Till 2020
Artificial Pancreas Devices System Market report focuses on the major drivers and restraints for the key players. Artificial Pancreas Devices System Industry research report also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.
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With the growing advancements in healthcare, there are numbers of therapies and treatments that have been researched. One of them include artificial devices that are used for supporting natural organs in a human body and help the patients to live a quality life. These initiatives of research organizations is raising innovations in the market. Devices include artificial heart, pancreas, kidney and cochlear implants. Moving further, the report discusses about the pancreas, diabetes and insulin which are mainly associated with the artificial pancreas device systems. It can be defined as a medical device that links a glucose monitor to an insulin infusion pump that routinely takes action based on the glucose monitor reading and simulates the glucose regulation function of healthy pancreas. Generally, these are used in the treatment of type 1 diabetes because that time patients require multiple doses of insulin in a day and all-round the year.
In the next section, the report segments the market by following categories-
Threshold suspend device system (TSDS)
Control to range (CTRS)
Control to target (CTTS)
The report also studies that, one of the major trends i.e. booming the market is rising focus on closed loop systems and growing demand for remote monitoring applications. Moreover, market challenges observed by the researchers are low penetration rates and lack of smart control algorithms which affects the adoption rate.
Geographically, it covers some of the key regions such as the Americas, EMEA and APAC. It has been observed that, the North American region is expected to dominate the market due to the large availability of patients who are suffering from type 1 diabetes. Also, APAC is predicted to witness the fastest growth rate because of the presence of about 60% global population suffering from diabetes. According to the study, this increase in the incidence of diabetes has made patients acquire specific care for themselves. Also, rising incidence of pancreatic cancer and growing occurrence of pancreatic disorders are expected to drive the global market growth.
Key vendors profiled in the report are-
Johnson & Johnson
Tandem Diabetes Care
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Currently, the market is dominated by Medtronic which accounted for the majority shares during 2015 and also expected to be more competitive & establish its presence in the global market. Rest of the prominent key vendors are also constantly growing their R&D investments to introduce new products. Other important vendors mentioned in the report are: Beta Bionics, Cellnovo, Dose Safety, Inreda Diabetic, Dexcom, Bigfoot Biomedical, DreaMed Diabetes and Type Zero Technologies.
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