Hybrid close loop system is an advanced technique having two parts as insulin pump with hybrid close loop and a sensory system guardian link three transmitter, which is designed to assist patients with type 1 diabetes in managing the glucose level. In auto mode, hybrid close loop system automatically adjusts the volume of insulin to be transferred with keeping a record of the quantity delivered in a given preset cycle. Hybrid close loop system can also adjust the volume of basal insulin i.e. the volume required when a person is not using an insulin pump. The device supplying quantity of 120 mg/dL of insulin, which further adjusts the hybrid close loop system to synchronize with the diet of the patient. Hybrid close loop system helps an individual to be aware of their glucose level, which makes them more independent in managing their daily diet plans with better compliance gradually. Furthermore, individuals at the risk of fluctuating glucose level at the night time are expected to be benefited more due to the hybrid close loop system’s continuous glucose monitoring as well as the provision of insulin availability throughout the bedtime. Hybrid close loop system device can be a monopolistic rival for other insulin pump devices due to its hybrid and dual nature of monitoring the glucose level as well as to pump the amount of insulin required to maintain the absolute sugar level in the body. Nevertheless, the supporting factor for Medtronic hybrid close loop system is the priority access program, which enables diabetes affected population to get started with MiniMed 630G system with low cost on purchasing before it’s official release in the market, which is dated in the year 2017.
The global hybrid close loop system market consists of only one product named MiniMed 630G by Medtronic. Hybrid close loop system named MiniMed 630G system by Medtronic is available with a healthy reimbursement plan, which will benefit the patient, which in turn is expected to fuel the market growth for hybrid close loop system market in the near future. Furthermore, based on end users, global hybrid close loop system market can be further segmented into hospitals, clinics, diagnostic centers, and ambulatory care centers. Increasing prevalence of diabetes with increasing technological advances and increasing adoption rate for assistive medical technology is expected to support the hybrid close loop. The hybrid close loop system is expected to register significant CAGR during the forecast period, due to monopolistic approach and technological advancements.
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Hybrid Close Loop System Market: Key Segments
Based on geography, the global hybrid close loop system market is segmented into five key regions, North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. North America is expected to account for the largest revenue share in the global hybrid close loop system market over the forecast period followed by Europe. Hybrid close loop systems are non-invasive devices which are useful in safe glucose monitoring as well as insulin supply, and this dual factor has increased the adoption rate of hybrid close loop systems among end users, which is expected to underpin the growth of the global hybrid close loop system devices market. Also, there is a growing trend of home and point of care testing, and a shift towards the better lifestyle, which is projected to expand the growth of the hybrid close loop system market in North America & Europe. Asia-Pacific is expected to witness remarkable CAGR during the forecast period, due to large population base affected by type 1 diabetes. However, healthcare facilities in underdeveloped and emerging countries, which lack appropriate awareness for innovative assistive technologies, is anticipated to affect the adoption rate in these countries.
Currently, there is only one player in the global hybrid close loop system market named as Medtronic, which is selling its hybrid close loop system device by the name of Minimed 670G System.
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