The Diabetes Type 1 segment was estimated to account for a little more than 95% market share in terms of value in the North America and Europe artificial pancreas systems market by 2022 end and is expected to experience an increase of more than 200 BPS in its market share by 2032 over 2022.
The Diabetes Type 1 segment is expected to register high Y-o-Y growth rates throughout the forecast period. Revenue contribution of this segment is projected to increase at a CAGR of 12% over the forecast period to reach more than USD 567.4 million by 2032. On the other hand the Diabetes Type 2 segment is expected to register low Y-o-Y growth rates throughout the forecast period.
Revenue contribution of this segment to the North America and Europe artificial pancreas systems market is expected to increase at a CAGR of 4.1% over the forecast period. The Diabetes Type 1 segment dominated the North America and Europe artificial pancreas systems market in revenue terms in 2015, and the trend is projected to continue throughout the forecast period.
The Diabetes Type 2 segment is expected to remain the least attractive segment in the North America and Europe artificial pancreas systems market in revenue terms with a low market attractiveness index of 0.02 over the forecast period.
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Diabetes is one of the chronic and life-threatening diseases that affects a large part of the global population. Diabetes, also known as diabetes mellitus, is a metabolic disorder wherein the pancreas are either not able to produce insulin or the body is not able to utilise the existing insulin to metabolise glucose.
Insulin is an essential secretion (hormone) of the body that metabolises glucose received by the body during and after a meal. An increasing burden of managing and controlling diabetes is the most important factor prompting demand for artificial pancreas systems among the global diabetic population.
Conventional systems used for diabetes management have many drawbacks including the need to take insulin injections at multiple times and recalibrating the CGM devices, thereby making management of diabetes quite tedious. However, artificial pancreas systems are designed to be more portable and user friendly. Artificial pancreas systems are technologically advanced.
On the other hand, the conventional insulin pumps or CGM devices are large in size and thus, people have social and psychological stigma regarding conventional insulin devices, which motivates them to opt for artificial pancreas systems. This particular factor is creating a robust development in the North America and Europe artificial pancreas systems market.
Artificial pancreas systems are envisioned to deliver a complete system known as a closed loop system that mimics a pancreatic activity of maintaining blood glucose levels by coalescing several technologies including a glucose monitoring device, a glucose sensor with cutting-edge algorithm software and an insulin pump.
Manufacturers are competing to provide such high-end artificial pancreas systems to attract diabetic patients who intend to improve diabetes management.
Diabetes Type 1 disease indication segment dominated the North America artificial pancreas systems market in revenue terms in 2015 and is projected to continue to do so throughout the forecast period, recording a market attractiveness index of 2.0.
In Western and Eastern Europe this segment is expected to remain the dominant disease indication segment throughout the projected period.
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Demand for North America and Europe artificial pancreas systems is likely to grow at a CAGR of 12% through 2032.
Sales of North America and Europe artificial pancreas systems is likely to exceed a valuation of USD 567.47 million by 2032.
Adoption of North America and Europe artificial pancreas systems is likely to reach a valuation of USD 182.71 million in 2022.
Upsurge in the case of type-1 diabetes is leading to North America and Europe artificial pancreas systems market growth.
1. Executive Summary 2. Market Introduction 3. North America and Europe Artificial Pancreas Device System Market Analysis Scenario 4. Market Dynamics 5. North America and Europe Artificial Pancreas Device System Market Analysis and Forecasts, By Disease Indication 5.1. Diabetes Type 1 5.2. Diabetes Type 2 6. North America and Europe Artificial Pancreas Device System Market Analysis and Forecast, By Distribution Channel 6.1. Hospitals 6.2. E-Commerce 7. North America and Europe Artificial Pancreas Device System Market Analysis and Forecasts, By Region 7.1. North America 7.2. Western Europe 7.3. Eastern Europe 8. North America Artificial Pancreas Device System Market Analysis and Forecast 9. Western Europe Artificial Pancreas Device System Market Analysis and Forecast 10. Eastern Europe Artificial Pancreas Device System Market Analysis and Forecast 11. Competition Landscape 11.1. Medtronic Plc. 11.2. Johnson and Johnson Services Inc. 11.3. Dexcom Inc. 11.4. Insulet Corporation 11.5. Tandem Diabetes Care Inc. 11.6. Cellnovo 12. Assumptions and Acronyms Used 13. Research Methodology
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North America and Europe Artificial Pancreas Systems Market
