Implantable infusion pump systems and accompanying accessories and software are essential medical devices employed in various healthcare settings such as clinics, hospitals, ambulatory centers, and home healthcare. They are vital in delivering fluids and nutrients directly into the patient's body. These versatile systems find extensive application in diabetes management, pain control, general infusion, anesthesia administration, gastroenterology, insulin infusion, pediatrics/neonatology, and hematology.
According to Data Bridge Market Research the Implantable Infusion Pumps Market accounted for USD 18.26 billion in 2022, and is expected to reach USD 27.60 billion by 2030. The market is expected to grow with a CAGR of 5.30% in the forecast period of 2023 to 2030.
“Increasing technological advancements by market players”
The market is witnessing a growing trend of companies prioritizing the development of smart infusion pumps. The increased adoption of wireless technology in health monitoring devices drives this surge, enhancing usability, connectivity, and data analysis capabilities. With the integration of wireless technology, data can be seamlessly transferred from the infusion pump to a smartphone or other wireless devices through Bluetooth or cellular connections. This enables efficient data processing, facilitating health monitoring and analysis, thereby contributing to the expansion of the market.
What restraints the growth of the implantable infusion pumps market?
“Safety concerns associated with infusion pumps”
One of the key obstacles to the market's growth is the safety concern related to implantable infusion pumps. The MRI setting presents a significant risk for patients with such devices. The U.S. Food and Drug Administration (U.S. FDA) has received reports of severe adverse effects, including patient harm and fatalities, associated with implantable infusion pumps in the presence of magnetic resonance imaging (MRI). As a result, this factor is a deterrent to the expansion of the market.
Segmentation: Global Implantable Infusion Pumps Market
The implantable infusion pumps market is segmented on the basis of product type, application, and end-user.
- On the basis of product type, the implantable infusion pumps market is segmented into piston type infusion pumps, creeping type infusion pumps, enteral pump, elastomeric pump, insulin pump, and syringe pump.
- On the basis of application, the implantable infusion pumps market is segmented into cancer treatment, spasticity, analgesia, diabetes mellitus, gastroenterology, hematology, pediatrics, and others.
- On the basis of end-user, the implantable infusion pumps market is segmented into hospitals, ambulatory surgical centers, specialty clinics, and others.
Regional Insights: North America Dominates the Implantable Infusion Pumps Market
North America dominates the market due to the rising adoption of specialty infusion pumps for treating chronic diseases and the increasing prevalence of chronic diseases. Also, the growing geriatric population rate and the presence of many large hospitals in the region lead to the market growth rate.
Asia-Pacific is expected to grow from 2023 to 2030 due to the elevated burden of chronic diseases such as cardiovascular illnesses, diabetes, and cancer. Also, decreasing treatment costs paves the way for the infusion industry, leading to market growth.
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The Prominent Key Players Operating in the Implantable Infusion Pumps Market Include:
- BD (U.S.)
- B.Braun Melsungen AG (Germany)
- Medtronic (Ireland)
- Teleflex Incorporated (U.S.).
- AngioDynamics (U.S.)
- Novo Nordisk A/S (Denmark)
- Johnson and Johnson Services, Inc. (U.S.).
- Pfizer Inc.(U.S.), Baxter (U.S.)
- Smith + Nephew (U.S.)
- Hoffmann-La Roche Ltd (Switzerland)
- ZOLL Medical Corporation (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of implantable infusion pumps market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Implantable Infusion Pumps Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, North America vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
