Artificial Pancreas Systems Market to Register a Stellar Growth Rate of 12.9% CAGR Forecast by 2026
With increasing number of people suffering from diabetes, managing and controlling diabetes has become critical. Hence being user-friendly and portable, artificial pancreas systems are gaining popularity across the globe. Ensuring the effectiveness and safety of medical devices, the Food and Drug Administration (FDA) is helping in the development of innovative artificial pancreas system device. FDA is also making it sure that the device monitors blood glucose level automatically and provide proper insulin doses. However, along with basic features, manufacturers are also trying to develop high-end artificial pancreas systems to improve diabetes management.
According to the report by Research Report Insights (RRI), type 1 diabetes is estimated to exceed $250 million by 2026 in Europe and North America artificial pancreas systems market. It is also anticipated to increase to 12.9% CAGR during 2016-2026. While type 2 diabetes is expected to register 4.1% CAGR between 2016 and 2026 in artificial pancreas systems market in Europe and North America. Conventional CGM devices and insulin pumps are large in size, hence people are opting for artificial pancreas systems.
North America and Europe artificial pancreas systems market: segmentation:
By Distribution Channel: Hospitals; E-Commerce; By Disease Indication: Diabetes Type 1, Diabetes Type 2; By Region: North America, Western Europe, Eastern Europe
Emerging technologies to offer better artificial pancreas systems
Manufacturers are focusing on developing smaller, more reliable and streamlined artificial pancreas systems. For instance, Cellnovo, a France-based mobile diabetes firm recently raised €17.5 million to develop fully automatic artificial pancreas. The company is focusing on introducing a system that can measure glucose level and provide the right amount of insulin without input from humans. These fully automated artificial pancreas are expected to also reduce long-term complications associated with diabetes.
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Companies are also entering into partnerships to develop and test artificial pancreas systems. For example, Roche, a pharmaceutical and medical device company has joined hands with Senseonics and TypeZero to develop a long term artificial pancreas automated system and conduct clinical trials of the system. Companies are developing artificial pancreas also referred as a closed loop diabetes management system. The new system would include insulin injection and glucose monitoring through algorithms. The system will also include Roche’s Accu-check insight insulin pump. A system including CGM sensor, lasting up to 90 days, smart algorithms and a discreet insulin pump is first of its kind.
Artificial pancreas for children
With increasing cases of diabetes among children, especially type 1 diabetes, manufacturers are also introducing artificial pancreas systems for children. Medtronic, a Minnesota-based medical device company has developed MiniMed 670G system for children suffering from type 1 diabetes. The system was also approved by FDA. This system includes a sensor to monitor glucose level in fluids under the skin, and based on the levels the device delivers and provide insulin.
Technological Advancements to Boost Artificial Pancreas Systems
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Manufacturers of artificial pancreas systems are focusing on treating type 1 diabetes, in which pancreas produces very little or no insulin. According to the American Diabetes Association, type 1 diabetes patients are not more than 10%.
While a recent study has also shown that artificial pancreas can better control condition of children with type 1 diabetes. The study found that children with artificial pancreas had lower average blood sugar level and they were more within the normal blood sugar range, without an increase in low blood sugar or hypoglycemia.
One of the largest company in North America & Europe’s artificial pancreas systems market has been identified as Illinois-based medical device manufacturer – Medtronic plc. With it, the UK-based Cellnovo is also being recognised as a prominent manufacturer of artificial pancreas systems. Other key players in the artificial pancreas systems market across North America and Europe include, Johnson & Johnson Services, Inc., Dexcom Inc., Insulet Corporation, and Tandem Diabetes Care Inc
Artificial Pancreas Systems