Global Implantable Infusion Pumps Market Opportunities And Strategies
7 Sep, 2020
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%. The increased prevalence of people with chronic pain, cancer and diabetes is expected to drive the demand for implantable infusion pumps as these pumps are commonly used to deliver pharmaceutical drugs during the treatment of these diseases. However, safety concerns regarding implantable infusion pumps is a key factor hampering the growth of the market.
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.
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The global implantable infusion pumps market is further segmented based on type and geography.
By Type: Patient-Controlled Analgesia (PCA) Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Syringe Pumps, Others
By Applications: Oncology, Pediatrics/Neonatology, Gastroenterology, Hematology, Diabetes, Others.
By Geography: The global implantable infusion pumps market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American implantable infusion pumps market accounts for the largest share in the global implantable infusion pumps market.
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Trends In The Implantable Infusion Pumps Market
Companies in the implantable infusion pump market are increasingly focusing on developing smart infusion pumps. The use of wireless technology in the health monitoring devices is increasing, which enhances the ease of usage, connectivity and data analysis. The integration of wireless technology allows the transfer of data from the device to a smartphone or a wireless device through Bluetooth or cellular connection for data processing and then to display the results, which can be used for further study and to check the health condition of the individual. Software platforms are being developed that allow patient monitoring and reduce human error.
Implantable Infusion Pumps Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides implantable infusion pumps market overviews, analyzes and forecasts implantable infusion pumps market size and growth for the global implantable infusion pumps market, implantable infusion pumps market share, implantable infusion pumps market players, implantable infusion pumps market size, implantable infusion pumps market segments and geographies, implantable infusion pumps market trends, implantable infusion pumps market drivers and implantable infusion pumps market restraints, implantable infusion pumps market’s leading competitors’ revenues, profiles and market shares. The implantable infusion pumps market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.