Press Release
Press Release
Artificial pancreas also known as closed-loop system, an automated insulin delivery system, or an autonomous system is used to regulate the blood glucose level of the person.
According to a new report by EMR titled, ‘The Global Artificial Pancreas Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 653.81 million in 2023. The market is further estimated to grow at a CAGR of 20% between 2024 and 2032 to reach a value of USD 3314.1 million by 2032.
Artificial pancreas also known as closed-loop system, an automated insulin delivery system, or an autonomous system is used to regulate the blood glucose level of the person. The device includes continuous glucose monitor (CGM), automatic insulin delivery system, and controller/control algorithm which helps in timely monitoring and administration of insulin to the person’s body. The demand of the artificial pancreas is on rise with the rising cases of diabetes patients, technological advancements which has led to the integration of CGM and automatic insulin delivery system to one device.
As per the International Diabetes Federation 2022, around 537 million adults aged 20-79 years are living with the diabetes. Since diabetes is the main cause of blindness, kidney failure, heart attacks, stroke, and lower limb amputation, it necessitates the proper care and management with the use of artificial pancreas. Additionally, the market is driven by rising obesity rates that causes high chances of diabetes at later stages.
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With changing lifestyles of people around the globe, there has been an increase in the number of patients with obesity. For instance, as per the World Health Organization (WHO) calculations, over 167 million individuals including adults and children are likely to turn overweight or obese by 2025. This also increases the chances of people having diabetes during the forecast period. Moreover, increased number of approvals from all over the world is also anticipated to drive the market growth. In February 2024, Insulet Corporation announced CE mark approval under the European Medical Device Regulation for Abbott FreeStyle Libre 2 Plus sensor with Insulet’s Omnipod 5 automated insulin delivery system for individuals aged two years and older with type 1 diabetes.
Device Types are Anticipated to Witness Significant Growth in the Forecast Period
Based on type, the market segmentation includes threshold suspend device systems, control-to-range (CTR) systems, and control-to-target (CTT) systems. Threshold suspend device systems are most commonly used systems as they monitor the blood glucose level and automatically suspends the insulin if the blood glucose level goes down. While CTR aims to adjust insulin delivery in order to maintain glucose levels within a target range which are set by the healthcare professionals.
The market report also offers insights based on end users and regions.
North America is Projected to Lead the Market Share
The market report offers an insight into various geographical locations, including North America, Europe, Asia Pacific, Latin America along with Middle East and Africa. North America and Europe are likely to hold a substantial market share in the forecast period. Elevating obesity rates, and increased healthcare expenditure are expected to be major growth contributors. The Asia Pacific region is expected to witness fastest growth in the forecast period. This can be accredited to several awareness initiatives by the governments as well as influential healthcare companies.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Device Type |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Supplier Landscape |
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Companies Covered |
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