Key vendors are developing remote monitoring applications to increase their sales strategically
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global artificial pancreas devices system market in their latest research report. This report also lists 8 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from the sale of the following products.
- Threshold suspend device system: This device reduces the severity or treat a drop-in blood glucose level by temporarily suspending insulin delivery when the glucose level falls to a low glucose threshold.
- Non-threshold suspend device system: This is integrated products that feature continuous glucose monitoring device and an insulin pump with partial or no automation.
This Technavio report, under cardiovascular and metabolic disorders vertical, is based on the synthesis, analysis, and interpretation of information about the global artificial pancreas devices system market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The competition in the market is very intense and is maintained by the established players. The vendors in the market are conducting research and development activities to launch new products and improve their share in the market. The advances in technology and product upgradation will increase the competition among the manufacturers during the forecast period. The companies in the market competing on the basis of aggressive pricing, advanced features, automation, and technology upgrade. The vendors are introducing new products lines with innovative features like smart algorithm, threshold suspend feature, and predictive suspend feature to attract more consumers and increase their profitability. The players are forming strategic partnerships to expand their product portfolio and sustain the competition in the market.
“The vendors in the market are investing in the development of an effective remote monitoring system in the treatment of diabetes with APDS. These systems will be designed to effectively monitor the individual patient throughout the day to receive effective treatment. The companies are focusing on the development of closed loop systems, six products through clinical trials and are also being tested for remote monitoring applications,” says Sapna Jha, a lead analyst at Technavio for research on cardiovascular and metabolic disorders.
Top five vendors in the artificial pancreas devices system market space
Medtronic
The company manufactures and sells device-based medical therapies that operate three divisions which include cardiac and vascular group, minimally invasive therapies group, and restorative therapies group. Recently, the company announced the approval from the FDA for its MiniMed 670G artificial pancreas.
Key products: MiniMed 640G System (Europe), MiniMed 530G (Global), MiniMed 630G (US), and MiniMed Veo (Europe).
Johnson & Johnson
The company engages in the development, research, and marketing of drugs, medical devices, and consumer care products. In the recent times, the company announced that the FDA approved Animas Vibe Insulin Pump and CGM system for the management of diabetes in children and teenagers.
Key product: Animas Vibe.
Insulet
The company undertakes the manufacture, development, and marketing of an insulin infusion system for individuals with insulin-dependent diabetes. Recently, the company entered into a license agreement and collaboration with Mode AGC to develop and employ the advanced artificial pancreas algorithm into its OmniPod glucose management system.
Key product: Omnipod (US, Europe, Canada, and Israel).
Tandem Diabetes Care
Tandem Diabetes Care is involved in the development, manufacturing, and marketing of an insulin pump system for individuals with diabetes. In recent times, the FDA approved the company’s Tandem Device Updater, a Mac and PC-compatible tool, for the remote upgrade of Tandem insulin pump software.
Key product: t: slim G4.
Roche
Roche develops, manufacturers, and markets diagnostics and medical devices such as insulin pumps for individuals with diabetes. Recently, the company launched Accu-Chek Connect system, which features a built-in prescription insulin dosage calculator.
Key product: Accu-Chek Combo.
Other prominent vendors in this market include Beta Bionics, Bigfoot Biomedical, Cellnovo, Dexcom, Dose Safety, DreaMed Diabetes, Inreda Diabetic, and Type Zero Technologies.
A more detailed analysis is available in the Technavio report, Global Artificial Pancreas Devices System Market 2016-2020.Technavio also customizes reports by other regions and specific segments upon request.
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