SAN FRANCISCO, March 22, 2018 /PRNewswire/ --
The global artificial pancreas device system market is anticipatedto 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
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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 management Such factors are contributing to the growth of the market.
Additionally, the prevalence of diabetes is increasing in low and middle-income counties owing to the sedentary lifestyle, genetic modification, obesity, lack of physical activity, and unhealthy diet. According to the data published by the International Diabetes Federation(IDF), in 2015 there were about 415 million people suffering from diabetes globally. Also, based on the information provided by the American Diabetes Association, in 2012, about 29.1 million Americans suffered from diabetes out of which 90% were of type2 and 1.25 million suffered from type 1 diabetes. Furthermore, the increasing dependency of type 2 diabetes on insulin is expected to create opportunities for the artificial pancreas devices market.
Browse full research report with TOC on "Artificial Pancreas Device System (APDS) Market Size, Share & Trends Analysis Report By Device Type (Threshold suspended device system, CTT System) And Segment Forecasts, 2013 - 2024" at: https://www.grandviewresearch.com/industry-analysis/artificial-pancreas-device-market
Further Key Findings From the Report Suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the global artificial pancreas device system market on the basis of device type and region:
Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/healthcare
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: +1-415-349-0058 Toll Free: 1-888-202-9519 Email: email@example.com
SOURCE Grand View Research, Inc.
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