The global artificial pancreas device system (APDS) market, by technology (Threshold Suspended Device Systems, Treat to Range/Control to Range (TTR/CTR), and Treat to Target/Control to Target (TTR/CTT)), by distribution channel (Hospitals & Clinics, Online Channels, and Retail Channels), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 123.5 Mn in 2018
For the development of innovative artificial pancreas device systems, key market participants are focused on strategic alliances and collaborations. Such collaborations between major companies may result in the development of innovative devices, propelling the worldwide artificial pancreas device system (APDS) market forward over the forecast period. For example, Diabeloop SA and ViCentra signed a distribution deal in April 2019 to make the DBLG1 artificial pancreas system commercially available in several European countries. Medtronic Plc., an Israeli business, and DreaMed Diabetes agreed in 2015 to incorporate DreaMed's proprietary artificial pancreas technology into Medtronic's insulin pumps. According to the terms of the deal, DreaMed will receive unspecified royalties for Medtronic devices that use the company's flagship GlucoSitter automated insulin administration technology.
Key Takeaways of the Global Artificial Pancreas Device System (APDS) Market:
- Due to regular product introductions and approvals, as well as a healthy pipeline of innovative artificial pancreas device systems, the worldwide artificial pancreas device system (APDS) market is predicted to grow at a CAGR of 14.1 percent from 2020 to 2027.
- Because of the strong demand for technologically sophisticated devices in the United States, the North American artificial pancreas device system (APDS) market is likely to be the dominating region. Furthermore, the United States is likely to have profitable growth as a result of the widespread use of advanced technologies and the growing prevalence of diabetes.
- To enhance acceptance of their artificial pancreas device systems, key market participants are concentrating on offering reimbursement schemes. Medtronic plc, for example, announced an outcome-based compensation scheme for its MiniMed 670G automated insulin administration device in June 2018. According to the scheme, the business would reimburse up to US$ 25,000 per pump for diabetes-related inpatient hospitalization and ER admissions during four years.