Artificial Pancreas Device System Market by Device Type, Treatment Type, End-User

Description

List of Tables

The Artificial Pancreas Device System Market was valued at USD 248.22 million in 2023, expected to reach USD 297.66 million in 2024, and is projected to grow at a CAGR of 20.01%, to USD 889.96 million by 2030.

The artificial pancreas device system (APDS) encompasses closed-loop systems that automate insulin delivery, aiming to mimic the glucose-regulating function of a healthy pancreas. The necessity for such systems arises from the growing prevalence of diabetes and the need for improved glycemic control, which can enhance quality of life and reduce the risk of complications for diabetic patients. APDS is primarily applied in managing both Type 1 and Type 2 diabetes, with end-use spanning hospitals, home care, and clinics. The market is driven by factors such as advancements in glucose monitoring technologies, increasing healthcare awareness, and supportive regulatory policies. Additionally, the growing adoption of wearable health technology and integration with smartphone applications enhances user engagement and monitoring, further expanding the market's scope. Despite these positives, market growth faces challenges such as high costs, stringent regulatory requirements, and limited reimbursement policies, which complicate broad-scale adoption. Technical challenges, including device accuracy and security, also pose potential limitations. However, opportunities exist in expanding access through cost reduction and strategic partnerships. Investment in R&D focused on improving device accuracy, miniaturization, and enhanced data analytics provides significant opportunities. Exploration of machine learning and AI for predictive analytics and personalized treatment plans are promising avenues for innovation. Market players should consider expanding their focus beyond developed regions to capture emerging markets, where an increasing prevalence of diabetes and rising healthcare investment present a fertile ground for growth. The industry remains dynamic, characterized by rapid technological advances and evolving regulations. Companies that can navigate these challenges while embracing technology and collaboration stand to make significant gains. Overall, a focus on democratizing access and improving device interfaces is essential for sustained growth in the artificial pancreas device market.

KEY MARKET STATISTICS
Base Year [2023]	USD 248.22 million
Estimated Year [2024]	USD 297.66 million
Forecast Year [2030]	USD 889.96 million
CAGR (%)	20.01%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Artificial Pancreas Device System Market

The Artificial Pancreas Device System Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising prevalence of diabetes due to changing lifestyle and elderly population
- Increase in disposable income and awareness on options to manage diabetes
- Prevalence of pancreatic cancer and demand for automated systems for glycemic control
Market Restraints
- High cost of artificial pancreas device systems
Market Opportunities
- Growing investments in research and development in the field
- Availability of funds from the governments and organizations to improve the quality of treatment
Market Challenges
- Inability of the system to treat athletic diabetes

Porter's Five Forces: A Strategic Tool for Navigating the Artificial Pancreas Device System Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Artificial Pancreas Device System Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Artificial Pancreas Device System Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Artificial Pancreas Device System Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Artificial Pancreas Device System Market

A detailed market share analysis in the Artificial Pancreas Device System Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Artificial Pancreas Device System Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Artificial Pancreas Device System Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Artificial Pancreas Device System Market

A strategic analysis of the Artificial Pancreas Device System Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Artificial Pancreas Device System Market, highlighting leading vendors and their innovative profiles. These include Admetsys, Beta Bionics, Inc., Bigfoot Biomedical, Inc., Defymed, Dexcom, Inc., Diabeloop SA, DreaMed Diabetes Ltd., EOFlow Co., Ltd., Glooko, Inc., Insulet Corporation, Johnson & Johnson Services, Inc., Medtronic PLC, PharmaCyte Biotech, Inc., Tandem Diabetes Care, Inc., and Vertex Pharmaceuticals Incorporated.

Market Segmentation & Coverage

This research report categorizes the Artificial Pancreas Device System Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Device Type, market is studied across Control-to-Range System, Control-to-Target System, and Threshold Suspended Device System.
Based on Treatment Type, market is studied across Bi-Hormonal, Hybrid, and Insulin Only.
Based on End-User, market is studied across Hospitals and Research Institute.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-4369010658A1

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising prevalence of diabetes due to changing lifestyle and elderly population
  - 5.1.1.2. Increase in disposable income and awareness on options to manage diabetes
  - 5.1.1.3. Prevalence of pancreatic cancer and demand for automated systems for glycemic control
- 5.1.2. Restraints
  - 5.1.2.1. High cost of artificial pancreas device systems
- 5.1.3. Opportunities
  - 5.1.3.1. Growing investments in research and development in the field
  - 5.1.3.2. Availability of funds from the governments and organizations to improve the quality of treatment
- 5.1.4. Challenges
  - 5.1.4.1. Inability of the system to treat athletic diabetes
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Artificial Pancreas Device System Market, by Device Type

6.1. Introduction
6.2. Control-to-Range System
6.3. Control-to-Target System
6.4. Threshold Suspended Device System

7. Artificial Pancreas Device System Market, by Treatment Type

7.1. Introduction
7.2. Bi-Hormonal
7.3. Hybrid
7.4. Insulin Only

8. Artificial Pancreas Device System Market, by End-User

8.1. Introduction
8.2. Hospitals
8.3. Research Institute

9. Americas Artificial Pancreas Device System Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Artificial Pancreas Device System Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Artificial Pancreas Device System Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Admetsys
2. Beta Bionics, Inc.
3. Bigfoot Biomedical, Inc.
4. Defymed
5. Dexcom, Inc.
6. Diabeloop SA
7. DreaMed Diabetes Ltd.
8. EOFlow Co., Ltd.
9. Glooko, Inc.
10. Insulet Corporation
11. Johnson & Johnson Services, Inc.
12. Medtronic PLC
13. PharmaCyte Biotech, Inc.
14. Tandem Diabetes Care, Inc.
15. Vertex Pharmaceuticals Incorporated