Artificial pancreas market size expected to grow at a CAGR of 19.15% : A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio
NEW YORK, Feb. 9, 2023 /PRNewswire/ -- According to Technavio, the global artificial pancreas market size is estimated to grow by USD 450.95 million from 2021 to 2026. The market is estimated to grow at a CAGR of 19.15% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 43% of the market's growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more insights on market size, request a sample report
Artificial pancreas market - Five forces
The global artificial pancreas market is concentrated, and the five forces analysis covers–
- Bargaining power of buyers
- The threat of new entrants
- Threat of rivalry
- Bargaining power of suppliers
- Threat of Substitutes
- For an interpretation of Porter's five forces model – Buy the report!
Artificial pancreas market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Artificial pancreas market - Segmentation assessment
Segment overview
Technavio has segmented the market based on type (threshold suspend device, non-threshold suspend device, control to range system, and control to target system).
- The threshold suspend device segment will account for a significant share of the market's growth during the forecast period. Threshold suspend refers to a continuous glucose monitor (CGM) enabled feature that can automatically stop insulin delivery when the sensor value reaches or falls below a pre-set threshold. This feature has increased the demand for threshold suspend device systems among diabetic patients. Therefore, the segment is expected to grow during the forecast period.
Geography overview
Based on geography, the global artificial pancreas market is segmented into North America, Europe, Asia, and ROW. The report provides actionable insights and estimates the contribution of all regions to the growth of the global artificial pancreas market.
- North America will account for 43% of the market's growth during the forecast period. The US is a key contributor to the artificial pancreas market in the region. However, market growth in North America will be slower than the growth of the market in Europe and Asia. Technological advances and a high incidence of type 1 and type 2 diabetes will drive the artificial pancreas market growth in North America during the forecast period.
Artificial pancreas market – Market dynamics
Key factor driving market growth
- The rising global burden of diabetes is driving the market growth.
- Diabetes occurs when the body cannot use insulin effectively or when the pancreas does not produce enough insulin.
- The global burden of diabetes is rising rapidly. Factors such as obesity, smoking, sedentary lifestyle, and rapid urbanization are some of the main factors contributing to the rise in the incidence of diabetes.
- Countries with a large population, such as China and India, have a higher incidence of diabetes due to an increase in obesity levels and urbanization.
- Moreover, the incidence of diabetes is higher among the elderly population.
- Thus, the increasing incidence of diabetes is likely to drive market growth during the forecast period.
Leading trends influencing the market
- The increase in awareness programs for diabetes is a key trend in the market.
- Many organizations are spreading awareness about diabetes and generating insights for product development are organizing summits.
- For instance, the European Foundation for the Study of Diabetes (EFSD) aims at spreading awareness about type 1 diabetes.
- Such initiatives provide participants with information about various tools and daily routine activities for diabetes prevention, management, and control.
- This will fuel the demand for artificial pancreas among diabetic patients, which, in turn, will support the growth of the market.
Major challenges hindering market growth
- Stringent regulatory framework will challenge the artificial pancreas market growth during the forecast period.
- The regulations focus on deploying robust surveillance systems, enhancing post-market regulations, strengthening the regulatory process, and improving the monitoring of devices.
- Vendors need to undergo stringent post-market approvals prior to the launch of a product.
- For instance, the US FDA has categorized diabetes care management devices, such as insulin pumps, infusion sets, and insulin bolus, under the Class II category. Failure to adhere to regulations can lead to product recalls.
- Therefore, the stringent regulatory scenario can hamper the artificial pancreas market during the forecast period.
What are the key data covered in this artificial pancreas market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the artificial pancreas market between 2022 and 2026
- Precise estimation of the size of the artificial pancreas market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the artificial pancreas market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of artificial pancreas market vendors
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Artificial Pancreas Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 19.15% |
Market growth 2022-2026 | $ 450.95 million |
Market structure | Concentrated |
YoY growth 2021-2022 (%) | 18.47 |
Regional analysis | North America, Europe, Asia, and ROW |
Performing market contribution | North America at 43% |
Key countries | US, Germany, France, China, and UK |
Competitive landscape | Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled | Admetsys Corp., Beta Bionics Inc., Bigfoot Biomedical Inc., Defymed SAS, Dexcom Inc., Inreda Diabetic B.V., Insulet Corp., Medtech Life Pvt. Ltd., Medtronic Plc, and Tandem Diabetes Care Inc. |
Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of contents
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent Market
Exhibit 08 Parent market
Exhibit 09: Market characteristics
2.2 Value Chain Analysis
Exhibit 10: Value Chain Analysis: Healthcare Supplies
2.2.1 R&D
2.2.2 Inputs
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Post-sales and services
2.2.7 Industry innovations
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1Estimating growth rates for emerging and high-growth markets
3.4.2Estimating growth rates for mature markets
Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 - 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of the buyer
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of the supplier
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by Type
5.1 Market segments
Exhibit 22: Type- Market share 2021 - 2026 (%)
5.2 Comparison by Type
Exhibit 23: Comparison by Type
5.3 Threshold suspend device - Market size and forecast 2021-2026
Exhibit 24: Threshold suspend device - Market size and forecast 2021-2026 ($ million)
Exhibit 25: Threshold suspend device - Year-over-year growth 2021-2026 (%)
5.4 Non-threshold suspend device - Market size and forecast 2021-2026
Exhibit 26: Non-threshold suspend device - Market size and forecast 2021-2026 ($ million)
Exhibit 27: Non-threshold suspend device - Year-over-year growth 2021-2026 (%)
5.5 Control to range system - Market size and forecast 2021-2026
Exhibit 28: Control to range system - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Control to range system - Year-over-year growth 2021-2026 (%)
5.6 Control to target system - Market size and forecast 2021-2026
Exhibit 30: Control to target system - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Control to target system - Year-over-year growth 2021-2026 (%)
5.7 Market opportunity by Type
Exhibit 32: Market opportunity by Type
6. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
6.1 Overview
Exhibit 33: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 34: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 35: Geographic comparison
7.3 North America - Market size and forecast 2021-2026
Exhibit 36: North America - Market size and forecast 2021-2026 ($ million)
Exhibit 37: North America - Year-over-year growth 2021-2026 (%)
7.4 Europe - Market size and forecast 2021-2026
Exhibit 38: Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 39: Europe - Year-over-year growth 2021-2026 (%)
7.5 Asia - Market size and forecast 2021-2026
Exhibit 40: Asia - Market size and forecast 2021-2026 ($ million)
Exhibit 41: Asia - Year-over-year growth 2021-2026 (%)
7.6 ROW - Market size and forecast 2021-2026
Exhibit 42: ROW - Market size and forecast 2021-2026 ($ million)
Exhibit 43: ROW - Year-over-year growth 2021-2026 (%)
7.7 Key leading countries
Exhibit 44: Key leading countries
7.8 Market opportunity by geography
Exhibit 45: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Rising global burden of diabetes
Exhibit 46: Prevalence of diabetes 2000 and 2030 (million)
8.1.2 Favorable regulations and guidelines
8.1.3 Rising geriatric population
8.2 Market challenges
8.2.1 Stringent regulatory framework
8.2.2 Low penetration rates
8.2.3 High cost of artificial pancreas
Exhibit 47: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increase in awareness programs for diabetes
8.3.2 Growing technological integration
8.3.3 Rising strategic partnerships to boost sales of artificial pancreas
9. Vendor Landscape
9.1 Overview
Exhibit 48: Vendor landscape
9.2 Landscape disruption
Exhibit 49: Landscape disruption
Exhibit 50: Industry Risk
10. Vendor Analysis
10.1 Vendors covered
Exhibit 51: Vendors covered
10.2 Market positioning of vendors
Exhibit 52: Market positioning of vendors
10.3 Admetsys Corp.
Exhibit 53: Admetsys Corp. - Overview
Exhibit 54: Admetsys Corp. - Product and service
Exhibit 55: Admetsys Corp. - Key offerings
10.4 Beta Bionics Inc.
Exhibit 56: Beta Bionics Inc. - Overview
Exhibit 57: Beta Bionics Inc. - Business segments
Exhibit 58: Beta Bionics Inc. - Key news
Exhibit 59: Beta Bionics Inc. - Key offerings
Exhibit 60: Beta Bionics Inc. - Segment focus
10.5 Bigfoot Biomedical Inc.
Exhibit 61: Bigfoot Biomedical Inc. - Overview
Exhibit 62: Bigfoot Biomedical Inc. - Product and service
Exhibit 63: Bigfoot Biomedical Inc. - Key offerings
10.6 Defymed SAS
Exhibit 64: Defymed SAS - Overview
Exhibit 65: Defymed SAS - Product and service
Exhibit 66: Defymed SAS - Key offerings
10.7 Dexcom Inc.
Exhibit 67: Dexcom Inc. - Overview
Exhibit 68: Dexcom Inc. - Business segments
Exhibit 69: Dexcom Inc. - Key offerings
Exhibit 70: Dexcom Inc. - Segment focus
10.8 Inreda Diabetic B.V.
Exhibit 71: Inreda Diabetic B.V. - Overview
Exhibit 72: Inreda Diabetic B.V. - Product and service
Exhibit 73: Inreda Diabetic B.V. - Key offerings
10.9 Insulet Corp.
Exhibit 74: Insulet Corp. - Overview
Exhibit 75: Insulet Corp. - Business segments\
Exhibit 76: Insulet Corp. - Key offerings
Exhibit 77: Insulet Corp. - Segment focus
10.10 Medtech Life Pvt. Ltd.
Exhibit 78: Medtech Life Pvt. Ltd. - Overview
Exhibit 79: Medtech Life Pvt. Ltd. - Product and service
Exhibit 80: Medtech Life Pvt. Ltd. - Key offerings
10.11 Medtronic Plc
Exhibit 81: Medtronic Plc - Overview
Exhibit 82: Medtronic Plc - Business segments
Exhibit 83: Medtronic Plc - Key offerings
Exhibit 84: Medtronic Plc - Segment focus
10.12 Tandem Diabetes Care Inc.
Exhibit 85: Tandem Diabetes Care Inc. - Overview
Exhibit 86: Tandem Diabetes Care Inc. - Business segments
Exhibit 87: Tandem Diabetes Care Inc. - Key offerings
Exhibit 88: Tandem Diabetes Care Inc. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 89: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 90: Research Methodology
Exhibit 91: Validation techniques employed for market sizing
Exhibit 92: Information sources
11.4 List of abbreviations
Exhibit 93: List of abbreviations
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