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Medtronic ’ s MiniMed 670G artificial pancreas only needs to be calibrated by the patient , while the rest is taken care of by the automated device . Adoption would be a little slow , especially in developing countries , considering the high price of the device . However , given the long-term gains from the device , adoption is expected to increase over time . According to the CDC , the annual healthcare burden due to diabetes to the U . S . government was US $ 176 billion in 2012 . Governments and insurance providers are pushing pharmaceutical and medical device companies to reduce medicine and device costs . This is expected to have a significant impact on the pricing of the artificial pancreas . There is high demand for effective treatment of diabetes . As such , addressable market is expected to generate high return on investment ( ROI ) for artificial pancreas market players .
Artificial pancreas is a disruptive technology that is expected to revolutionize the diabetes market in near future especially for type 1 diabetes treatment . Type 1 diabetes , characterized by inadequate insulin production , requires daily administration of insulin to regulate the amount of glucose in the body . Thus , patients suffering from type 1 diabetes need to be regularly monitor their blood glucose levels and administer insulin accordingly . According to the World Health Organization ( WHO ), number of diabetes patients worldwide has increased from 108 million in 1980 to 422 million in 2014 . According to Juvenile Diabetes Research Foundation ( JDRF ), there were around 1.5 million type 1 diabetics worldwide in 2015 . There are no commercially available treatment option for type 1 diabetes . Therefore , organizations such as JDRF and OpenAPS are focusing only on developing effective and compliant therapies for type 1 diabetes . Artificial pancreas market outlook is optimistic for early entrants .
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Medtronic entered the artificial pancreas market with introduction of MiniMed . MiniMed 670G — the first of its kind artificial pancreas for treatment of diabetes 1 — received FDA approval in September 2016 . The device would be made available in 2017 . MiniMed 670G combines an automated glucose monitor and an insulin pump . The FDA has granted approval for this device to be used in patients aged 14 years and above . Once additional real-life tests are successfully carried out by the company , the product would be accessible to the target user group , mainly the pediatric population .
MiniMed 670G is a hybrid closed-loop system that automates the cumbersome process of monitoring and adjusting glucose and insulin levels in type 1 diabetes patients . Patients can monitor health through a device like a smartphone . This artificial pancreas would help patients sleep well at night and wake-up with a healthy glucose levels . Moreover , Medtronic ’ s MiniMed 670G artificial pancreas would improve therapy adherence and allow patients to live life unlike previously where there was a need for regular intervention . Various regional players are expected emerge in the artificial pancreas market in near future in order to capitalize on lucrative growth opportunities .
However , emergence of other disruptive technology could somewhat affect the overall growth of artificial pancreas market revenue . For instance , automated insulin delivery device is a prospective alternative to artificial pancreas . OpenAPS — a do-it-yourself ( DIY ) automated insulin delivery system — is an open source design that can be used by anyone to connect their CGM and insulin pump to make it an artificial pancreas . The device was developed in 2013 by Ben West , Dana Lewis , and Scott Leibrand .
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