The growing number of diabetics in the United States, Canada and European countries has forced hospitals to keep artificial pancreas systems in stock. Government-funded organizations in North America and Europe are collaborating with local and global medical device manufacturers to meet the growing demand for artificial pancreas systems. A latest report published by Future Market Insights reveals that the value of the artificial pancreas systems market in North America and Europe reached US$86.5 million at the end of 2016. The report also predicts that people suffering from diabetes in these regions will continue to opt for artificial systems. pancreatic systems to control their blood sugar externally.
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The lifestyle of residents of Europe and North America drives the incidence of diabetes (type 1 and type 2) in these regions. The substantial increase in the number of diabetic patients forces doctors, pathologists and endocrinologists to superficially treat the patients’ defective pancreas. The rate at which a physiological pancreas is replaced by a substitute (artificial pancreas system) will continue to increase in this region. By the end of 2026, more than $280 million of artificial pancreas systems will be sold in North America and Europe, recording revenue growth of 12.6% CAGR.
Almost all artificial pancreas systems sold in these regions will treat patients with type 1 diabetes. In the United States, the onset of type 1 diabetes mellitus is expected to spiral out of control. The U.S. artificial pancreas systems market is currently valued at just over US$40 million and will account for more than two-thirds of artificial pancreas systems revenue in North America through 2026. Canada, on the other hand, will increase significantly at CAGR of 13.8%.
Hospitals will remain the largest distribution channel for artificial pancreas systems in North America and Europe. However, the report highlights a notable presence of e-commerce websites in the global distribution of such critical medical devices as artificial pancreas systems. Among these regions, North America will remain dominant in the European market for artificial pancreas systems. Similarly, the demand for artificial pancreas systems will be quite high in Western Europe, compared to Eastern Europe. Germany, France, UK and Poland are the top European countries that are most likely to show revenue growth above 11.5% CAGR.
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One of the largest companies in the artificial pancreas systems market in North America and Europe has been identified as an Illinois-based medical device manufacturer – Medtronic plc. With it, UK-based Cellnovo is also recognized as a leading manufacturer of artificial pancreas systems. Other key players in the artificial pancreas systems market in North America and Europe include Johnson & Johnson Services, Inc., Dexcom Inc., Insulet Corporation, and Tandem Diabetes Care Inc.
North America and Europe Artificial Pancreas Systems Market: SegmentationBy region
- North America
- Western Europe
- Eastern Europe
By distribution channel
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By disease indication
- Type 1 diabetes
- Type 2 diabetes
About Future Market Insights (IMF)
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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