LONDON--(EON: Enhanced Online News)--The global artificial pancreas devices system (APDS) market is expected to grow at an impressive revenue of over USD 1 billion by 2020, according to Technavio’s latest research.
“However, rising incidence of diabetes coupled with recent product approvals in key countries such as Japan and Australia are expected to improve the adoption rates in APAC”
In this research report, Technavio covers the market outlook and growth prospects of the global artificial pancreas devices system market for 2016-2020. The market is further segmented into four categories, which include threshold suspend device system (TSDS), non-threshold suspend device system (NTSDS), control to range system (CTRS) and control to target system (CTTS).
“The APDS market has huge opportunities to grow as the existing devices lack efficiency in insulin delivery mechanism. The market is witnessing huge efforts toward R&D activities from vendors as well as research organizations. For instance, there have been 18 clinical trials conducted for the development of enhanced versions of APDS including second and third-generation devices,” says Sapna Jha, a lead cardiovascular and metabolic disorders research expert from Technavio.
Technavio’s healthcare and life sciences research analysts segment the global APDS market into the following regions:
In 2015, with a market share of over 64%, the Americas emerged as the leader in the global APDS market, followed by EMEA with over 24% and APAC with 11%.
Americas: largest market for APDS
The APDS market in the Americas is expected to grow at a CAGR of more than 7% during the forecast period. The growing incidence of diabetes is expected to drive the adoption rates of APDS in the Americas, particularly North America. According to CDC 2012 statistics, 29.1 million Americans had diabetes in 2015. This scenario has driven vendors and research institutes to focus on developing novel devices for diabetes management.
Such extensive R&D activities led to the timely approval of novel products, such as Medtronic’s MiniMed 530G (approved in 2013). The launch of this product is the first step toward the development of complete APDS in the market. Other vendors such as Johnson & Johnson and Insulet are also focusing on the development of complete APDS.
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EMEA: extensive investment in R&D and launch of new products to fuel growth
Growing awareness and the established healthcare infrastructure in Europe, have led to higher demand for APDS. Europe approved Medtronic’s MiniMed Veo in 2009. This product is the world’s first APDS with low glucose suspend feature, which works by automatically halting insulin delivery when sensor glucose levels reach to the pre-set low threshold.
Moreover, new entrants in EMEA are expected to bring complete APDS during the forecast period. For instance, DreaMed Diabetes (Israel-based company), and Inreda Diabetic (Netherlands-based company) are extensively undertaking R&D activities to launch closed loop APDS in the market. These two companies are planning to bring APDS that finds application in remote monitoring. Such initiatives will substantially drive the adoption rates owing to the higher preference for treatment in a homecare environment.
APAC: expansion in emerging markets to boost growth
The APDS market in APAC is still in nascent stage owing to the lack of awareness among people, limited infrastructure, and financial constraints.
“However, rising incidence of diabetes coupled with recent product approvals in key countries such as Japan and Australia are expected to improve the adoption rates in APAC,” says Sapna.
The rising incidence of diabetes has fueled the need for novel devices and new product launches such as Medtronic’s MiniMed 620G which received the FDA approval in Japan. The MiniMed 620G is the first insulin pump that features built-in CGM design to deliver better clinical outcomes for individuals with diabetes. Also, Medtronic’s MiniMed 640G received approval in Australia in January 2015. In addition, vendors such as Medtronic are further looking to expand their presence in emerging markets such as China, which will further boost the growth of the market.
The top vendors in the global APDS market as highlighted in this analysis are:
- Johnson & Johnson
- Tandem Diabetes Care
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