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.

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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.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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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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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