North America & Europe Artificial Pancreas Systems Market Analysis

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NORTH AMERICA & EUROPE ARTIFICIAL PANCREAS SYSTEMS MARKET ANALYSIS

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North America & Europe Artificial Pancreas Sy stems Market , By Disease Type (Diabetes Type 1, Diabetes Type 2), By End User (Hospitals, Clinics), By Region (North America, Europe) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Artificial pancreas system is a diabetes management system that is designed to continuously monitor glucose levels and manage insulin delivery in case of hyperglycemia and hypoglycemia.  North America and Europe artificial pancreas systems market is estimated to account for US$ 126.8 Mn in terms of value in 2019 and is expected to reach US$ 320.2 Mn by the end of 2027.  North America and Europe Artificial Pancreas Systems Market: Drivers  Increasing incidence of type 1 diabetes is expected to boost growth of North America and Europe artificial pancreas systems market over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), in the U.S., around 40,000 people are diagnosed with Type 1 diabetes, annually, and by 2050, 5 million people are expected to be diagnosed with the disease, in the country.  Moreover, increasing adoption of high-end systems in diabetes management is also expected to aid in growth of the market. This is owing to several drawbacks of conventional systems used for diabetes management such as need to take insulin injections at multiple times and recalibrating the Continuous Glucose Monitoring (CGM) devices. Moreover, conventional systems require user or caregiver interference for insulin delivery. 

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North America region held dominant position in North America and Europe artificial pancreas systems market in 2018, accounting for 67.4% share in terms of value, followed by Europe.

North America and Europe Artificial Pancreas Systems Market: Restraints Unfavorable reimbursement policies are expected to hinder growth of North America and Europe artificial pancreas systems market. The U.S. Centers for Medicare and Medicaid Services provides reimbursement only for professional CGM systems such as iPro 2. Reimbursement is considered an essential aspect in diabetes treatment and management, owing to high cost of these treatments.

However, reimbursement for CGM systems by government-aided organizations or private payers is limited. A CGM device is used for monitoring and not for treatment; hence, there is no positive outcome from the use of these devices. Therefore, reimbursement for sensors and other accessories used in CGM devices is not provided by health insurance companies.

Moreover, lack of fully automated dual hormone artificial pancreas system is also expected to hamper growth of the market. This can be attributed to lack of commercially available room-temperature-stable glucagon, device complexity, and the short duration, and small size of clinical studies.

North America and Europe Artificial Pancreas Systems Market: Opportunities Development of meal detection algorithms can increase the scope and adoption of artificial pancreas system for insulin dosing process. Such algorithm can be integrated with artificial pancreas systems to accurately determine meal size and timing.

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Development of hybrid closed loop artificial pancreas systems is also expected to offer lucrative growth opportunities for players in North America and Europe artificial pancreas systems market. For instance, in December 2019, Tandem Diabetes Care, Inc. received the U.S. FDA clearance for its t:slim X2 insulin pump with Control-IQ technology, an advanced hybrid-closed loop feature.

Diabetes type 1 segment in North America and Europe artificial pancreas systems market was valued at US$ 105.7 Mn in 2018 and is expected to reach US$ 314.3 Mn by 2027 at a CAGR of 12.9% during the forecast period.

Market Trends/Key Takeaways The adoption of quick acting insulin analogues such as aspart, glulisine, and lispro has increased in are employed in artificial pancreas systems as their use helps in mimicking physiological function of insulin release after a meal. The approach also helps to overcome the time lag between actual blood-glucose level and interstitial blood-glucose measurement by CGM. Major players in the market are focused on offering reliable and advanced sensors in artificial pancreas systems. For instance, Medtronic offers Enlite sensor, a smaller and more reliable sensor compared to its previous glucose sensor i.e. sofsensor.

North America and Europe Artificial Pancreas Systems Market: Competitive Landscape Major players operating in North America and Europe artificial pancreas systems market include, Medtronic Plc., Johnson and Johnson Services Inc., Dexcom Inc., Insulet Corporation, Tandem Diabetes Care Inc., and Cellnovo.

North America and Europe Artificial Pancreas Systems Market: Competitive Landscape  Key players in the market are focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in October 2019, Tandem Diabetes Care Inc. partnered with Abbott to develop and commercialize integrated diabetes solutions that combine Abbott's glucose sensing technology with Tandem's insulin delivery systems.  Key players in the market are also focused on developing rapid insulin for artificial pancreas systems. For instance, in January 2019, Adocia announced the first home-use trial to test its BioChaperone Lispro, a rapid insulin, in Beta Bionics autonomous insulin delivery system, the iLetTM. 

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