The implantable infusion pumps market consists of sales of implantable infusion pumps and related services by entities (organizations, sole traders and partnerships) that manufacture implantable infusion pumps. An implantable infusion pump is a small device that is put beneath the skin during the operation. The pump delivers the liquid pain medication to a different part of the body through a long, flexible tube called the catheter.
The global implantable infusion pumps market is expected to grow from $13.32 billion in 2019 to $16.22 billion in 2020 at a compound annual growth rate (CAGR) of 21.75%. The growth is mainly due to the COVID-19 outbreak that has increased the demand for intravenous infusion pumps to treat the affected patients. The market is then expected to stabilize and reach $16.98 billion in 2023 from 2021 at a CAGR of 1.55%.