Market Trends of Global Artificial Pancreas Device System Industry
This section covers the major market trends shaping the Artificial Pancreas Device System Market according to our research experts:
The Threshold Suspended Device System is Expected to Witness Growth Over the Forecast Period
The threshold suspended device system helps reverse a dangerous drop in blood glucose level (hypoglycemia) or reduce its severity by temporarily suspending insulin delivery when the glucose level falls to or approaches a low glucose threshold. These are also referred to as low glucose suspend systems. The regulation of glucose in patients with diabetes is of utmost importance for an improved health outcome. Hence, the threshold suspended device systems play a vital role in managing hypoglycemia.
The innovations in the products, increasing product approvals, along with partnerships and collaborations by key players are helping in the market growth. For instance, in June 2020, Tandem Diatetes Care, Inc., received United States Food and Drug Administration (FDA) approval for an expanded pediatric indication for the t:slim X2 insulin pump with Control-IQ technology for children age six and older. Control-IQ technology was intended for use with a compatible integrated continuous glucose monitor to automatically increase, decrease, and suspend basal insulin delivery based on iCGM readings and predicted glucose values. Hence, in view of the advantages offered by these devices, the threshold suspended device systems segment is expected to grow significantly over the forecast period.
North America is Expected to Dominate The Artificial Pancreas Device System Market Over The Forecast period
North America is expected to dominate the market owing to factors such as the rising prevalence of diabetes, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the region.
As per International Diabetes Federation, Diabetes Atlas 10th edition, 2021 report, the number of adults (20-79 years) with diabetes was 32.2 million in 2021 and it is predicted to reach 36.3 million by 2045 in the United States of America. America is predicted to be in 4th position among the top 10 countries or territories with diabetes in 2021 and 2045. As per the same report, the number of adults with diabetes in Mexico was 14.1 million in 2021 and is predicted to reach 21.2 million by 2045.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
