The artificial pancreas device system is capable of a near perfect replication of the regulatory functions of glucose of a healthy organic pancreas. These systems generally comprise three forms of devices: an insulin pump or infuser, a constant glucose monitoring system, and a glucometer or any other blood glucose measuring device. The measuring device is necessary to help calibrate the CGM, which can also be done using a computer that can maintain an algorithm to control the CGM using values derived from the blood glucose device. An artificial pancreas device system is usually a closed loop system that follows an automated method of delivering insulin to a patient. It can therefore be completely autonomous and can function without any manual inputs, similar to an organic pancreas.
The global Artificial Pancreas Market was xx million US$ in 2018 and is expected to xx million US$ by the end of 2025, growing at a CAGR of xx% between 2019 and 2025.
The rate of innovation is exceedingly high in the global artificial pancreas device system market, primarily owing to the massive and swiftly increasing number of diabetics across the world. The count of diabetic patients is especially high in developed economies, where the presence of strong players in medical devices markets, consistent government backing, and high healthcare expenditure can support a high level of technological innovation. Bodies such as the FDA are showing an increasingly louder support to innovators in the global artificial pancreas device system market as well, due to the constant rise in demand from the growing diabetic and geriatric populations.
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