Artificial Pancreas Device System Market Analysis, Size, Growth, Share, Outlook & Forecast to 2024 | Grand View Research Inc.
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 managementSuch factors are contributing to the growth of the market. Further Key Findings From the Study Suggest: