The global artificial pancreas market size was USD 325 Mn in 2022 and is likely to reach USD 683 Mn by 2031, expanding at a CAGR of 8.6% during 2023–2031. The market is propelled by the rising prevalence of diabetes due to a sedentary and unhealthy lifestyle.
The artificial pancreas is a system designed to continuously monitor blood sugar levels with the help of glucose monitors to figure out the amount of insulin required in the human body. The algorithms embedded in the artificial pancreas automate the delivery of insulin automatically through an artificial insulin pump to balance blood glucose levels in the body.
As per the latest data published by World Health Organization (WHO), approximately 422 million people are suffering from diabetes while 1.5 million people die due to diabetes each year. Diabetes cannot be fully cured but it can be managed with the help of certain types of medications, diet, exercise, and advanced devices.
The artificial pancreas is worn as a medical device by diabetic patients. It consists of an insulin fusion pump and a continuous glucose monitoring system (CGM). A subcutaneous sensor in the continuous glucose monitoring system measures the glucose levels in the body. When the glucose levels go below or above the preset threshold level, an algorithm embedded in the system interprets the data and regulates the insulin flow in the body by either decreasing, increasing, or stopping the flow of insulin with the help of an insulin pump.
The market report finds that the COVID-19 pandemic has propelled the growth of the market due to the rising threat of infection for diabetes patients and the subsequent need for comprehensive devices to regulate the sugar levels in the human body. People living with diabetes are likely to develop serious health complications if they contract the COVID-19 virus infection.
Such groups of people were advised to ensure efficient management of their diabetes situations by the physicians to stay safe from the combined threats of COVID-19 and existing health conditions. The sales of the artificial pancreas boosted during the pandemic period due to the rising need for diagnostic tools and administration devices to manage diabetes efficiently.
Artificial Pancreas Market Dynamics
Major Drivers
Rising prevalence of diabetes due to a sedentary lifestyle, consumption of junk food, and genetic complications is expected to drive the market. Data published in the CDC report states that 415 million people were suffering from diabetes in 2020 worldwide while it was estimated that in 2040 more than half a billion are likely to have diabetes.
The diabetic population needs a comprehensive set of devices to control sugar levels with the help automatic administration of insulin. The artificial pancreas eliminates the need for human intervention to administer insulin doses to avoid the health complications caused by diabetes.
Existing Restraints
The high cost of artificial pancreas and the lack of reimbursement facilities provided by the insurers or policymakers are likely to hinder the market. Manufacturing of artificial pancreas involves designing and manufacturing hardware and embedding the algorithms with high precision and accuracy. The hiring cost of the skilled workforce required to manufacture the artificial pancreas is increasing exponentially. This factor is likely to restrain the market.
Emerging Opportunities
Technological advancements and R&D activities carried out by the biotechnology players to provide additional features in the artificial pancreas are expected to create significant opportunities for the market players. Biotechnology companies are emphasizing providing convenience and enhanced functionality to consumers by providing additional features in diabetes devices.
The patients have been provided with improved functionality in the artificial pancreas by embedding the algorithms in the artificial pancreas to precisely monitor the sugar level and control the insulin flow. The developments in sensor technology and improvements in the algorithms to provide accuracy and precision in artificial pancreas systems is likely to pave the way for future developments.
- The U.S. Food and Drug Administration (FDA) licensed the insulin-only bionic pancreas system named as iLet for children up to 6 years of age and above with type 1 diabetes. This system has algorithms embedded in it and an integrated infusion pump, which provides vital health stats to the FDA-cleared integrated continuous glucose monitor iCGM to regulate the flow of insulin. This device helped the patients in reducing HbA1c levels from 7.9% to 7.13% at 13 weeks.
Scope of Artificial Pancreas Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Artificial Pancreas Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Control Type (Control to Range System, Control to Target System, and Threshold Suspended Device System), Treatment Type (Bi-Hormonal, Insulin Only, and Hybrid), and End-user (Clinics, Hospitals, Ambulatory Surgical Centers, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Insulet Corporation; Medtronic; BIGFOOT BIOMEDICAL, INC.; Tandem Diabetes Care, Inc.; Admetsys; Diabeloop SA; Defymed; Beta Bionics; Pancreum, Inc.; Vertex Pharmaceuticals and Incorporated; and Dexcom, Inc.
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Artificial Pancreas Market Segment Insights
Control Type Segment Analysis
Based on control type, the global artificial pancreas market is divided into control to range system, control to target system, and threshold suspended device system. The threshold suspended device system segment is expected to expand at a significant growth rate during the projection period owing to enhanced precision and automation provided by the threshold-suspended device system.
The threshold-suspended device system activates and when the diabetic patients fail to respond to the threshold-suspend alarm and insulin levels get imbalanced. As soon as the threshold-suspended device system activates it starts the supply of insulin with the precise quantity and flow. The rising prevalence of diabetic patients is likely to fuel the market significantly.
- According to International Diabetes Federation (IDF), the number of diabetic patients around the world is expected to rise to 643 Million by 2030 and 784 Million by 2045.
The control to target (CTT) systems segment is anticipated to hold a key share of the market in the coming years due to the enhanced functionality and modularity offered by CTT systems. The CTT systems are fully automated and do not require any human intervention. The CTT systems monitor the glucose levels in the patient's body with the inbuilt continuous glucose monitoring system and administer the glucose levels accordingly.
Treatment Type Segment Analysis
On the basis of treatment type, the global market is segregated into bi-hormonal, insulin only, and hybrid. The hybrid segment is projected to register a considerable CAGR during the forecast period owing to enhanced functionality and utility provided by the hybrid artificial pancreas. In a hybrid artificial pancreas, a continuous glucose monitoring system (CGM) and an insulin fusion pump are integrated into the system to minimize human intervention and provide convenience to the patients.
The patients preferred various types of treatments and associated devices to seek relief from complexities related to diabetes. This transition is evident from the fact that the global expenditures for the treatment of diabetes are expected to grow from USD 966 Billion to a little over 1 Trillion dollars. The expenditures are mainly aimed at the treatment and management of diabetes.
End-user Segment Analysis
Based on end-user, the global artificial pancreas market is segmented into clinics, hospitals, ambulatory surgical centers, and others. The hospitals segment is expected to register a robust growth rate during the forecast period owing to consultation and prescription services provided at the hospitals for the use of artificial pancreas and other diabetes care devices. The specialists present in the hospitals conduct the diagnosis and assess the health-related data of an individual to suggest the right kind of artificial pancreas for diabetes treatment.
Regional Analysis
In terms of region, the global artificial pancreas market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing rising prevalence of diabetes in the region due to lifestyle-related complications. The region is witnessing obesity-related issues, heart complications, and diabetes-related issues among the population as a result of a sedentary lifestyle and rising intake of junk foods.
- According to the National Library of Medicine, the prevalence of type 1 and type 2 diabetes in the U.S. is likely to increase by 54% to more than 54.9 Million U.S. Citizens while total societal and medical costs related to diabetes are likely to increase by 53% to more than USD 622 Billion by 2030.
The market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to government initiatives to promote healthcare infrastructural advancements in the region and subsequent fund allocations. The policymakers in the region are devising healthcare policies that support the efficient usage of resources to cater to the rising healthcare needs of the growing population in the region. Medical devices and accessories such as artificial pancreas provide relief to patients and caretakers by automating the essential needs of human mechanisms.
Segments
The global artificial pancreas market has been segmented on the basis of
Control Type
- Control to Range System
- Control to Target System
- Threshold Suspended Device System
Treatment Type
- Bi-Hormonal
- Insulin Only
- Hybrid
End-user
- Clinics
- Hospitals
- Ambulatory Surgical Centers
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global artificial pancreas market are Insulet Corporation; Medtronic; BIGFOOT BIOMEDICAL, INC.; Tandem Diabetes Care, Inc.; Admetsys; Diabeloop SA; Defymed; Beta Bionics; Pancreum, Inc.; Vertex Pharmaceuticals and Incorporated; and Dexcom, Inc.
These companies in the artificial pancreas domain are engaged in the development of research facilities, enhancement of product features, and service upgradation to offer a diversified range of products and services to gain a competitive edge in the market. For instance,
- On May 22, 2023, Beta Bionics, Inc. announced FDA clearance and commercialization of the first automated insulin delivery systems with high precision and enhanced administration methods that determine 100% of all user doses. The insulin delivery system known as iLet Bionic Pancreas minimizes the complexities associated with the correction factors, carb counting, insulin-to-carb ratios, blousing, and pre-set basal rates.
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