NORTH AMERICA AND EUROPE ARTIFICIAL PANCREAS MARKET ANALYSIS

North America And Europe Artificial Pancreas MarketSize and Trends

North America and Europe artificial pancreas market is estimated to be valued at US$ 168.5 Million in 2023, exhibiting a CAGR of 18.2% during the forecast period (2023-2030).

Increasing prevalence of diabetes is contributing to the growth of the North America and Europe artificial pancreas market over the forecast period. For instance, the number of individuals (20-79 years old) with diabetes was 536.6 million in 2021 globally and it is expected to reach 783.2 million by 2045. And in North America, it was 51 million, and it is expected to reach 57 million by 2030 and 63 million by 2045, according to the International Diabetes Federation's Diabetes Atlas, 10th edition, 2021 report.

Figure 1. North America And Europe Artificial Pancreas Market Share (%), By Disease Type, 2023

The number of prevalent cases of type 1 diabetes among children and adolescents (0-19 years) was 1,211,900, while the number of new cases in the same age group was 149,500 globally in 2021. In Europe, the number of adults with diabetes is expected to reach 67 million by 2030 and 69 million by 2045, according to the International Diabetes Federation's Diabetes Atlas 10th edition report. The market for North America and Europe artificial pancreas systems is thus anticipated to grow over the forecast period in light of all of these factors and major drivers. Since type 1 diabetics benefit most from artificial pancreas use. The increased prevalence of diabetes is anticipated to grow in the market under study.