The rising prevalence of diabetes to boost the Artificial Pancreas Device System market growth

 

Artificial Pancreas Device System (APDS) Market
Artificial Pancreas Device System (APDS) Market

The Artificial Pancreas Device System market is segmented by Device type [Threshold Suspended Device System, Control to Range (CTR) System, and Control to Target (CTT) System], End User (Hospitals and Clinics and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- - Size, Share, Outlook, and Opportunity Analysis, 2023-2030

The global Artificial Pancreas Device System market is estimated to be valued at reach US$ 207.27 million in 2021 2022 and is expected to exhibit a CAGR of 18.94 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

An Artificial Pancreas Device System along with displaying the glucose levels in the body however also autonomously adjusts the inoculation of insulin to decrease hyperglycemia standards and decrease the cases of hypoglycemia with less or no input from the individual.

Competitive Landscape:

Key players involved in the growth of global Artificial Pancreas Device System market are Pancreum, Inc., Insulet Corporation, Admetsys Corporation, DexCom, Inc., Medtronic plc, Johnson & Johnson, Beta Bionics, Inc., Defymed,Tandem Diabetes Care, Inc., and Bigfoot Biomedical, Inc 

Market Key Drivers:

The rising prevalence of diabetes is expected to augment the growth of global Artificial Pancreas Device System market. For instance, as per IDF, around 536.6 million suffered from diabetes in 2021 and it is forecast to reach 783.2 million by 2045.

The developments in technology and rising approvals of products, along with collaborations and associations by key players is projected to drive the growth of global Artificial Pancreas Device System. For instance, in September 2020, USFDA approved the MiniMed 770G hybrid closed loop system from Medtronic plc.

Covid-19 Impact Analysis:

The COVID-19 pandemic outbreak has adversely affected the growth of the global Artificial Pancreas Device System market as therapy and diagnostics process other than COVID-19 which had a substantial effect on the surveyed market as it not only impacted diagnostic and therapeutic procedures however also affected R&D activities in the area. 

Key Takeaways:

The global Artificial Pancreas Device System is anticipated to exhibit a CAGR of 14.1 % during the forecast period due to approvals and product launches by the key players for the expansion of the market. For instance, in June 2020, USFDA approved Tandem Diabetes Care, Inc., for an enhanced pediatric sign for the t:slim X2 insulin tube with Control-IQ technique for children aged six and above. 

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Artificial Pancreas Device System due to rising cases of diabetes, increasing product approvals and launches. For instance, as per IDF, number of people suffering from diabetes was around 32.2 million in 2021 and it is forecast to reach 36.3 million by 2045 in the U.S.

Comments

Post a Comment

Popular posts from this blog

Recycled Construction Aggregates Market Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Image
  Recycled Construction Aggregates Market Introduction: The Recycled Construction Aggregates Market has gained significant traction in recent years, driven by increasing environmental concerns, resource scarcity, and the growing emphasis on sustainable construction practices. Recycled construction aggregates, derived from the processing and recycling of construction and demolition waste materials, offer several benefits such as reduced demand for virgin materials, decreased landfill waste, and lower carbon footprint. The market for recycled construction aggregates is expected to witness substantial growth and present lucrative opportunities for market players. Market Size and Share: The global recycled construction aggregates market is projected to surpass  6.2 million tons  by the end of 2027 in terms of volume, exhibiting a CAGR of  6.0%  during the forecast period  (2020 to 2027) . The market is driven by stringent environmental regulations, governmen...
Read more

Bispecific Antibodies Are Used As Therapeutic Drugs While Treating Viral Infections, Oncology, And Auto-Immune Diseases

Image
  Bispecific Antibodies Bispecific antibodies are produced through cell fusion or recombinant DNA technologies. Bispecific antibodies are much more specific than monoclonal antibodies. Their applications in tumor immunotherapy are nearly limitless. As of today, seven bispecific antibodies have been approved by the FDA and EMA and over one hundred are in preclinical testing. Bispecific antibodies were initially developed using the quadroma technology. They contain two distinct antigen-binding arms, which enable them to bind to the target antigen while also activating an effector cell, which kills tumor cells. The primary antigen on the surface of the effector cell is called CD3, which is a popular target of immune cells. According to Coherent Market insights the Bispecific Antibodies Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028. Many of these multi specific antibody formats have been developed over the past 30 years. These categories ...
Read more

Rising Cancer Cases to boost the Molecular Cytogenetics Market Growth

Image
Molecular Cytogenetics Market Molecular Cytogenetics Market by Products (Kits & Reagents, Instruments, and Software & Services), Technique (Fluorescence in Situ Hybridization, Comparative Genomic Hybridization, Karyotyping, Other Techniques), Application (Cancer, Genetic Disorders, Other Applications), And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030 The global Molecular Cytogenetics Market is estimated to be valued at US$ 4,211.4 million in 2023, and is expected to exhibit a CAGR of 24.5 % over the forecast period, as highlighted in a new report published by Coherent Market Insights. Market Overview: Clinical cytogenetics is the examination of the relation between chromosomal alterations and genetic disorders in human beings. Molecular cytogenetics is an examination of genetic diseases utilizing new techniques and methods that link cytogenetic and molecular t...
Read more