The
global Artificial Pancreas Device System Market is
anticipated to reach USD 390.4 million by 2024, according to a new report by
Grand View Research, Inc. Increasing prevalence of diabetes, intensive R&D
efforts by industry players, and rising demand for automated systems for
glycemic control are the key factors that are driving the market growth.
Regulatory
bodies such as FDA are continuously approving new and innovative products which
is increasing the reach of the companies in various market. For instance, in
December 2016, OneTouch Vibe plus Insulin Pump by Animas received FDA approval
and Health Canada License for the sale of the product. In January 2016, Animas
received FDA approval for Animas Vibe Insulin Pump, the device to manage of
diabetes in children and adolescents.
Similarly,
in June 2016, Tandem Diabetes Care cleared its FDA approval for remote software
update tool for insulin pump. Also, in September 2016, the company received FDA
approval for their product t:slim G4 Insulin Pump giving the diabetes community
a powerful new tool to help simplify therapy management Such factors are
contributing to the growth of the market.
Additionally,
the prevalence of diabetes is increasing in low and middle-income counties
owing to the sedentary lifestyle, genetic modification, obesity, lack of
physical activity, and unhealthy diet. According to the data published by the
International Diabetes Federation(IDF), in 2015 there were about 415 million
people suffering from diabetes globally. Also, Based on the information
provided by the American Diabetes Association, in 2012, about 29.1 million
Americans suffered from diabetes out of which 90% were of type2 and 1.25
million suffered from type 1 diabetes. Furthermore, the increasing dependency
of type 2 diabetes on insulin is expected to create opportunities for the
artificial pancreas devices market.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/artificial-pancreas-device-market
https://www.grandviewresearch.com/industry-analysis/artificial-pancreas-device-market
Further
Key Findings From the Study Suggest:
- Control to Target (CTT) systems is anticipated to witness fastest
growth during the forecast period as they are fully automated and require
no intervention on the patient’s part for the administration of insulin or
for the monitoring of glucose levels.
- Asia Pacific artificial pancreas device system market is expected
to grow with the highest CAGR over the forecast period owing to the
lifestyle, genetic modification, urbanization and aging population.
- Major players of the market include, Medtronic Plc, Bigfoot
Biomedical, Johnson & Johnson, Tandem Diabetes Care, Inc., Pancreum,
Inc., TypeZero Technologies, LLC, and Beta Bionics.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Blog: https://healthcareforecastreport.blogspot.com/
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