Artificial Pancreas Device System Market Size, Share, Growth and Trend Analysis Report, 2018 to 2024

The global artificial pancreas device system market size was valued at USD 89.3 million in 2016 and is expected grow at a CAGR of 20.2% during the forecast period. Increasing prevalence of diabetes, intensive R&D efforts by industry players, and rising demand for automated systems for glycemic control are the factors driving the market growth.

(firmenpresse) - The global artificial pancreas device system market is anticipated to reach USD 390.4 million by 2024, according to a new report by Grand View Research, Inc. Increasing prevalence of diabetes, intensive R&D efforts by industry players, and rising demand for automated systems for glycemic control are the key factors that are driving the market growth.

Regulatory bodies such as FDA are continuously approving new and innovative products which is increasing the reach of the companies in various market. For instance, in December 2016, OneTouch Vibe plus Insulin Pump by Animas received FDA approval and Health Canada License for the sale of the product. In January 2016, Animas received FDA approval for Animas Vibe Insulin Pump, the device to manage of diabetes in children and adolescents.

Similarly, in June 2016, Tandem Diabetes Care cleared its FDA approval for remote software update tool for insulin pump. Also, in September 2016, the company received FDA approval for their product: slim G4 Insulin Pump giving the diabetes community a powerful new tool to help simplify therapy management such factors are contributing to the growth of the market.

Additionally, the prevalence of diabetes is increasing in low and middle-income counties owing to the sedentary lifestyle, genetic modification, obesity, lack of physical activity, and unhealthy diet. According to the data published by the International Diabetes Federation (IDF), in 2015 there were about 415 million people suffering from diabetes globally. Also, based on the information provided by the American Diabetes Association, in 2012, about 29.1 million Americans suffered from diabetes out of which 90% were of type2 and 1.25 million suffered from type 1 diabetes. Furthermore, the increasing dependency of type 2 diabetes on insulin is expected to create opportunities for the artificial pancreas devices market.

Further Key Findings from the Study Suggest:

& Johnson, Tandem Diabetes Care, Inc., Pancreum, Inc., TypeZero Technologies, LLC, and Beta Bionics.

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Datum: 22.08.2019 - 06:04 Uhr
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News-ID 1551597
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Date of sending: 22.08.2019
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