2024 Artificial Pancreas Device System Market Overview: Key Insights on Size, Share, and Trends
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What is the Anticipated Growth Speed of the Artificial Pancreas Device SystemMarket Between 2024 and 2033?
The artificial pancreas device system market has expanded rapidly, growing from $1.59 billion in 2023 to $1.81 billion in 2024, with a CAGR of 13.9%. Key drivers include increased investments, government initiatives in clinical research, growing demand for automated glycemic control systems, intensive R&D efforts, and a rising elderly population.
The artificial pancreas device system market is projected to experience rapid growth, expected to reach $3.06 billion by 2028 at a CAGR of 14%. This growth is driven by the rising prevalence of diabetes and pancreatic cancer, increasing obesity rates, growing demand for minimally invasive drug delivery systems, and innovations in diabetes management technology. Major trends include technological innovations, increased R&D activities, product approvals, partnerships and collaborations, and enhanced teleconsultancy services for follow-up care.
Which Factors Are Enhancing the Growth of the Artificial Pancreas Device System Market?
The increasing prevalence of pancreatic cancer is expected to propel the growth of the artificial pancreas device system market going forward. Pancreatic cancer is a malignant tumor that originates in the pancreas, a gland located behind the stomach. Pancreatic cancer is influenced by a combination of lifestyle, genetic, medical, and environmental factors, along with genetic mutations causing hereditary pancreatitis, which can lead to chronic inflammation of the pancreas. An artificial pancreas device system (APDS) is primarily designed to help individuals with diabetes manage their blood sugar levels by automatically monitoring glucose and delivering the appropriate amount of insulin.
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Which Segments Are Crucial in the Artificial Pancreas Device System Market?
The artificial pancreas device system market covered in this report is segmented –
1) By Device Type: Threshold Suspend Device Systems, Control-To-Range Systems, Control-To-Target Systems
2) By Treatment Type: Bi-Hormonal, Insulin Only, Hybrid
3) By End-User: Hospitals, Medical Centers, Other End-Users
What Emerging Trends Are Shaping the Future of the Artificial Pancreas Device System Market?
Companies in the artificial pancreas device system market are developing automated insulin delivery systems. Beta Bionics received FDA clearance for the iLet Insulin-Only Bionic Pancreas System in May 2023, enabling autonomous insulin delivery.
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What Regions Are At the Forefront of Artificial Pancreas Device System Market Expansion?
North America was the largest region in the artificial pancreas device system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial pancreas device system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Artificial Pancreas Device System Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the artificial pancreas device system market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Artificial Pancreas Device System Market Include
1. Artificial Pancreas Device System Market Executive Summary
2. Artificial Pancreas Device System Market Segments
3. Artificial Pancreas Device System Market Size And Template Market Growth Rate
4. Key Artificial Pancreas Device System Market Trends
5. Major Artificial Pancreas Device System Market Drivers
……
25. Key Mergers And Acquisitions In The Artificial Pancreas Device System Market
26. Top Artificial Pancreas Device System Companies
27. Artificial Pancreas Device System Market Opportunities And Strategies
28. Artificial Pancreas Device System Market, Conclusions And Recommendations
29. Appendix
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