Diabetes also acknowledged as diabetes mellitus, affects a huge portion of the worldwide population which is life-threatening and a chronic disease. It is a metabolic disorder in which the pancreas cannot generate insulin or else cannot use the accessible insulin present in the body to further metabolize glucose. A rising obligation for controlling and managing diabetes is a significant factor triggers the demand for the artificial pancreas systems among the worldwide diabetic populace.
The usual system at used to for diabetics care management are tedious as the requirement for taking the injection several times a day even though these devices are intended to be more user friendly and convenient. The artificial pancreas systems are technically highly developed. Thus fueling the need for market growth in the European and North American region. The active participation of medical professional societies and numerous patient centric manufacturers are collectively contributing towards the accomplishment of efficient devices. The makers of these devices are also witness a competitive environment to offer high-end devices to develop the diabetes management which will be proved as the most ground-breaking progression.
Market Segmentation : The European and North American market is broadly segmented by disease indication, by distribution channel and by region.
Forecast by disease indication : On the basis of disease indication, the market is further segmented Type 1 Diabetes and Type 2 Diabetes. The Type 1 Diabetes sector, by 2016 end was projected to hold for value share of over 95% in the Europe and North American market and is estimated to retain the market share by 2026 end. The segment is also likely to contribute revenue share of over US $ 250 million, exhibiting 12.9% CAGR throughout the forecast period. The Type 2 Diabetes is projected to witness a 4.1% CAGR during the assessment period. This segment is however is likely to show a sluggish growth in the overall market of artificial pancreas system in terms of revenue during the 10 year projection.
Forecast by distribution channel : Based on the distribution channel, the artificial pancreas system market is sub-segmented into E-commerce and hospitals in the Europe and North American region.
Forecast by region : The overall market is studied across the three prominent regions, which includes Eastern Europe, Western Europe and North America. The U.S. market within the North American is likely to be the highest productive region. The Western in addition to Eastern Europe region follows the North American region respectively throughout the assessment period and are likely to be leading the market. On the other hand, regions like Russia are anticipated to witness evident expansion while offering healthcare services owing to adoption of innovative systems for Type 1 diabetes by Doctors.
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