Beta Bionics, a US-based developer of advanced diabetes management solutions, is set to launch “iLet Bionic Pancreas” automated insulin delivery (AID) system with the Dexcom G7 continuous glucose monitoring (CGM) system on 18 December 2023. Against this backdrop, the diabetes care devices market, which  consists of CGM systems and insulin pumps, is set to grow from $10.6 billion in 2022 to $20.8 billion in 2033, forecasts GlobalData, a data and analytics company.

The major players in the insulin pumps and CGM systems segments are Medtronic and Abbott, which collectively make up approximately 43% of the market. Since most of the major companies operating in insulin pumps and CGMs have also developed their own AID systems it is not expected that huge changes in the hierarchy of the diabetes care devices market will occur.

However, this does present an opportunity for companies which occupy smaller sections of the market to make gains as the patient population begins to move at higher rates towards AID systems from traditional insulin pumps and CGMs.

Aidan Robertson, Medical Analyst at GlobalData, comments: “While AID systems still make up a smaller portion of the overall diabetes care devices market, the clear benefits of a device which needs little input from diabetes patients will be heavily sought after and GlobalData expects greater interest in these types of products going forward.”

Beta Bionics claims that “iLet Bionic Pancreas” simplifies diabetes management to reduce the stress on patients and healthcare providers. While integrating with the Dexcom CGM G7, users can benefit from fast and accurate readings from Dexcom’s sensors and transmitters removing the need for fingerstick readings.

Physicians no longer need to determine complex values such as correction factors, insulin to carb ratios or pre-set basal rates, with just the input of the patients weight the product does the rest. Additionally, with iLet Bionic Pancreas firmware update users can select Dexcom G7 or G6 CGMs and switch back to whichever sensors they wish.

While the iLet is the latest AID system to be unveiled, it is not the first. Other products such as Insulet’s Omnipod 5 or Medtronic’s MiniMed 780G have been circulating the market throughout 2022 and 2023, and function in a similar fashion.

Robertson concludes: “The development of devices requiring less hands-on processes such as the “iLet” take us another step closer to an effectively self-operating artificial pancreas that would require virtually zero manual actions. As companies move forward to create a device with those capabilities the potential gains as a result will become increasingly favorable.”