The Implantable Infusion Pumps Market Size is valued at USD16.24 Billion in 2023 and is predicted to reach USD 23.96 Billion by the year 2031 at a 5.15 % CAGR during the forecast period for 2024-2031.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the implantable infusion pumps market are:
- Raise consciousness of the developments in infusion pump technology
- An uptick in the number of people living with chronic illnesses
- The need for ambulatory pumps is on the rise
The following are the primary obstacles to the implantable infusion pumps market’s expansion:
- High cost
- Strict regulators
- Lack of awareness
Future expansion opportunities for the implantable infusion pumps market include:
- Improvements in drug delivery technology
- A growing number of elderly people
- Favorable government policies on reimbursement
Market Analysis:
The market is expected to experience accelerated expansion due to factors such as the increasing number of surgeries performed in ambulatory care settings, the increasing number of older adults, and the increasing incidence of chronic conditions like diabetes. The demand in emerging markets is only going to rise, providing market participants with a fantastic opportunity. In addition, age-related heart problems are becoming more common as the world’s population ages. The need for implantable infusion pumps is driven by the increased susceptibility of older persons to cardiac disorders around the globe, which is raising the demand for implantable infusion pumps.
List of Prominent Players in the Implantable Infusion Pumps Market:
- Codman & Shurtleff, Inc (Johnson & Johnson)
- I-Flow Corp/Hylard Health
- Flowobix Medical, Inc.
- Medtronic
- Tricumed Medizintechnik GmbH.
- Debiotech SA
- Eksigent Technologies LLC
- InBrain Pharma SAS
- Intarcia Therapeutics Inc
- Others
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Recent Developments:
- In Nov 2022, Medtronic introduced the first and only infusion set for insulin pumps in the world, which has increased wear duration by seven days in the United States. Typically, an insulin pump supplied insulin to the body via tubing known as the infusion set, which required replacement every two to three days.
Implantable Infusion Pumps Market Dynamics:
Market Drivers: Expanding Use for Ambulatory Pumps
The ambulatory pump is an important tool for the delivery of drugs. An essential component of the role in healthcare facilities and home care settings is the delivery of infusions, which include chemotherapy, analgesics, and transfusion-prompt nursing fluids. These devices are perfect for active patients because they are small, lightweight, and can provide continuous implanted medication infusion; they also add to the growing trend in industrialized nations of managing chronic illnesses on-site rather than in hospitals. The convenience and ease of use of implanted infusion pumps have led to a dramatic increase in their demand.
Challenges: High Cost of Treatment
Implantable infusion pumps and their associated treatments are out of reach financially for healthcare providers and patients in low- and middle-income nations. These state-of-the-art devices have limited market expansion potential if they are too expensive for many consumers. Stricter regulations on the production and use of implanted infusion pumps have also added complexity to the approval procedure for new devices. Because of this problem, the market’s growth is likely to be stunted. The increasing frequency of product recalls due to manufacturing flaws is another factor preventing the implanted infusion pump industry from growing.
North America is Expected to Grow with the Highest CAGR During the Forecast Period
The implantable infusion pumps market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because of improving reimbursement rules, a rise in the number of people diagnosed with diabetes and treated, and the widespread use of implantable infusion pumps. One factor propelling the expansion of the North American region is the advancement of medical device technologies. Furthermore, the market for these pumps is projected to be driven by rising awareness of innovative medicines, massive healthcare spending, and the prevalence of chronic diseases in this region.
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Segmentation of Implantable Infusion Pumps Market-
By Product Type-
- Piston Type Infusion Pumps
- Creeping Type Infusion Pumps
- Enteral Pump
- Elastomeric Pump
- Insulin Pump
- Syringe Pump
By Application-
- Cancer Treatment
- Pediatrics/Neonatology
- Gastroenterology
- Hematology
- Diabetes
- Spasticity treatment
- Others
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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