A groundbreaking Revolution in Diabetes Care - MRF projects an Outstanding CAGR of 18.75% for the Artificial Pancreas Market during the Forecast period 2022-2030

The new study from Market Research Future (MRFR) on the worldwide artificial pancreas market predicts the market will grow at a CAGR of 18.75% between 2022-2030.

A swashbuckling growth pattern is set to fire up the Artificial Pancreas market during the assessment period. The report paints a comprehensive overview of the market, mentioning aspects such as market size & share, current trends, and future prospects. Additionally, market players, driving/restraining forces, as well as the highly fascinating opportunities, have also been studied in order to procure well-ground information with regards to the Artificial Pancreas market.

Artificial pancreas refers to the technology which enables diabetics to regulate the blood sugar levels automatically. In this technology, a mini-computer or a smartphone connected to the Continuous Glucose Monitor (CGM) and insulin pump is used. A mathematical model present in the device ensures that the blood glucose level is maintained within a range.

The Artificial Pancreas market is driven by factors such as rising prevalence of diabetes, technological advancements in pumps and sensors, high demand for home use systems, and a surge in the demand for improved technologies in diabetes care. With the growing diabetic population, the demand for improved diabetes care systems is on the rise, and this is expected to drive the artificial pancreas market in the coming years. On the flipside, factors such as efficacy concerns, high product cost, and a dearth of awareness pertaining to artificial pancreas have been impeding the growth of the market.

The Artificial Pancreas Market consists of players from various countries across the world. The report bifurcates the market into various segments, providing an all-round view of the market. Furthermore, the entire product life cycle has been described for the forecast period.

The Artificial Pancreas market is broken down in detail by product, technology, application, and end user in this report. Markets are broken down by several types of insulin delivery devices, such as injectable pens, insulin pen needles, insulin patches, and insulin pumps. By technology, the artificial pancreas market is categorized into closed loop systems, open loop systems, and hybrid loop systems. The market is broken down into three different types of organizations: institutional care facilities (hospitals and clinics), non-institutional care facilities (home care settings), and universities and research centers.

Geographically, North America accounts for the major shares in the global artificial pancreas market due to rising prevalence of diabetes, government & non-government initiatives, high disposable incomes, and recent technological developments. Because of increased government efforts to establish programs and the availability of attractive reimbursement rules, Europe is second only to North America in terms of market share. The Asia-Pacific region is predicted to have the highest rate of growth, due to the rapidly rising geriatric population, developing healthcare infrastructure, high prevalence of diabetes, and rising awareness about diabetes management.

Major Players:

The report analyzes the competitive landscape of the Artificial Pancreas market by profiling large numbers of major as well as local players. These include Medtronic (U.S.), Tandem Diabetes Care (U.S.), Dexcom, Inc. (U.S.), Insulet Corporation (U.S.), Johnson & Johnson (U.S.), Beta Bionics, Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Cellnovo Group (U.K.), Bigfoot Biomedical, Inc. (U.S.), and Companion Medical, Inc. (U.S.).