Felton, 18 December
2019 - This report provides in depth study of “Artificial Pancreas Device System Market”
using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the
organization. The Artificial Pancreas
Device System Market report also provides an in-depth survey of top key
players in the market which is based on the various objectives of an
organization such as profiling, the product outline, the quantity of
production, required raw material, and the financial health of the
organization.
The global artificial pancreas device system market size is
expected to value USD 390.4 million by 2024, during the forecast period. The
artificial pancreas device system industry is subject to witness a substantial
growth due to growing occurrence of heart-related diseases such as diabetes,
extensive research and development efforts by market players, and growing need
for advanced electronic systems in healthcare sector such as glycemic control.
Artificial pancreas device system allows easy monitoring of the blood-glucose
level in case of facilitates diabetes management. Globally, the artificial
pancreas device system market is predicted to grow at a CAGR of 20.2% in
forecast period, providing numerous opportunities for market players to invest
in research and development.
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The growing occurrence of diabetes in both - developing and
developed economies is attributed to changing food patterns, inherited
diseases, obesity, physical inactivity and high calorie diet, all leading to the
growth of the artificial pancreas device system industry in recent years.
Moreover, the patient’s over-dependency on insulin, mainly in type 2 diabetes
is key factor for growing demand for artificial pancreas device system.
Other factors such as rise in the awareness among the
patient sab out treatment of diabetes and numerous opportunities for
collaboration between FDA and privately-owned institutions are propelling
growth of the artificial pancreas device system industry in the forecast
period. Though, unavailability of highly skilled healthcare professionals in
underdeveloped countries in African and South American regions is likely to
hamper the growth of the market.
The pancreas is a part of the human-body that is responsible
for production of multiple hormones such as insulin and glucagon, along with a
few digestive enzymes to allow proper digestion of food items. Insulin allows
body cells to acquire glucose from the blood providing essential energy for
their functioning, at the same time lowering blood glucose levels. While,
glucagon secreted by pancreases is responsible for releasing glucose that is
stored in the liver, raising overall blood glucose levels.
Type 1 diabetes commonly arises due to lower or almost
negligible production of insulin that is needed to regulate blood glucose level
in the body. While, in type 2 diabetes production insulin or already present
insulin is resisted by body itself, causing adverse effects. The artificial
pancreas device system is responsible for closely monitoring the glucose level
by mimicking functionality of a healthy pancreas. The common type of the
artificial pancreas device system utilized by number of diabetes patients these
days are a constant glucose monitoring (CGM) devices and an insulin infusion
pump.
The key players in the artificial pancreas device system
market are Bigfoot Biomedical Co., Johnson & Johnson Inc., Tandem Diabetes
Care Incorporations, Pancreum, Incorporations, TypeZero Technologies, and Beta
Bionics, Inc.
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Major Key Points in
Table of Content
1 Market Definition
2 Global Market by Vendors
3 Global Market by Type
4 Global Market by End-Use / Application
5 Global Market by Regions
6 North America Market
7 Europe Market
8 Asia-Pacific Market
9 South America Market
10 Middle East & Africa Market
11 Market Forecast
12 Key Manufacturers
13 Price Overview
14 Research Conclusion
Continued….
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