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Implantable Infusion Pumps Global Market Report 2023
Major players in the implantable infusion pumps market are Medtronic, Boston Scientific Corporation, Nevro Corporation, Cyberonics, Baxter, B=. Braun Melsungen AG, Fresenius Kabi AG, Smiths Medical, Terumo Corporation, and Neuropace.
New York, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Implantable Infusion Pumps Global Market Report 2023" - https://www.reportlinker.com/p06280912/?utm_source=GNW
The global implantable infusion pumps market is expected to grow from $17.42 billion in 2021 to $18.26 billion in 2022 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The implantable infusion pumps market is expected to grow to $21.79 billion in 2026 at a CAGR of 4.5%.
The implantable infusion pumps market consists of sales of instruments such as patient-controlled analgesia (PCA) pumps, enteral pumps, insulin pumps, elastomeric pumps, syringe pumps, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Implantable infusion pumps are drug delivery systems implanted in the patients body that pump the medication into the blood stream in a controlled manner.
North America was the largest region in the implantable infusion pumps market in 2022.Asia Pacific was the second-largest region in the implantable infusion pumps market.
The regions covered in the implantable infusion pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The implantable infusion pumps market is segmented by type into patient-controlled analgesia (PCA) pumps, enteral pumps, insulin pumps, elastomeric pumps, syringe pumps, and others.The insulin pump is a small device that is put beneath the skin during the operation to deliver insulin in diabetic patients.
The various applications of implantable infusion pumps are oncology, pediatrics/neonatology, gastroenterology, hematology, diabetes, and others that are used by hospitals, ambulatory surgical centers, and specialty clinics.
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.Chronic illnesses and disorders are on the rise around the world, as the aging population and shifts in social behavior lead to a gradual increase in these diseases.
In diseases such as chronic arachnoiditis, which is a condition where one of the membranes surrounding the spinal cord swells, implantable infusion pumps deliver lower dosages of drugs and tend to provide more efficient pain relief.The prevalence of chronic diseases is expected to increase by 57% by 2020, according to the World Health Organization.
Therefore, the rise in the prevalence of chronic diseases is expected to drive the growth of the implantable infusion pumps market.
The safety concern regarding implantable infusion pumps is a key factor hampering the growth of the implantable infusion pumps market.The magnetic resonance (MR) system can be useful in the diagnosis of a wide range of conditions and diseases, but the MRI setting poses a risk factor for patients with implantable infusion pumps.
An MRI examination can influence the programming or functionality of an infusion pump, even if specific requirements have been met.The US food and drug administration received evidence of significant adverse effects including harm to the patient and death associated with the use of implantable infusion pumps in the MR field.
Therefore, the safety concerns regarding implantable infusion pumps are expected to limit the growth of 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 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.
In September 2021, Medtronic, a US-based medical device company, acquired implanted infusion pump technology from Alfred E.Mann Foundation.
The acquisition is aimed to improve insulin delivery in people with type-1 diabetes.Alfred E.
Mann Foundation is a US-based scientific research foundation developing implantable infusion pumps and other medical devices.
The countries covered in the implantable infusion pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The implantable infusion pumps market research report is one of a series of new reports that provides implantable infusion pumps market statistics, including implantable infusion pumps industry global market size, regional shares, competitors with a implantable infusion pumps market share, detailed implantable infusion pumps market segments, market trends and opportunities, and any further data you may need to thrive in the implantable infusion pumps industry. This implantable infusion pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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