A recent report published by Infinium Global Research on smart
implantable pumps market provides an in-depth analysis of segments and
sub-segments in the global as well as regional smart implantable pumps market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional smart implantable pumps market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global smart implantable pumps market.
According to the report, the global smart implantable pumps market is projected
to grow at a CAGR of 7.7% over the forecast period of 2019-2025.
Smart implantable pumps are medical devices that are surgically
implanted beneath the skin to monitor a steady dose of the drug. These pumps
are used to deliver anti-spasmodic, chemotherapeutic agents, and opioid drugs.
The global smart implantable pumps market is expected to grow at a success rate
over the forecast period.
The rise in the elderly population with chronic pain, heart
failure, and hypertension are the major factors for the growth of smart
implantable pumps market across the globe. Heart failure is a major public
health problem, with an occurrence of over 5.8 million in the United States,
and over 23 million globally. According to the American Heart Association,
116.4 million, or 46% of US adults are estimated to have hypertension. Also,
nearly 389.4 people die from stroke every day. Furthermore, increasing
conscious about health among individuals, growing healthcare expenses and
favorable reimbursement policies are some other main factors for the growth of
the market. However, strict governing policies for approval of these products
and the growing number of product recalls due to medication errors related to
infusion pumps are the main key factors that may restrain the growth of the
market over the forecast period. Moreover, technological advancements such as
the growth of wireless technology and the introduction of intelligent pumps
create an opportunity for the growth of the market in the next few years.
In terms of region, the global smart implantable pumps market is
segmented into North America, Europe, Asia-Pacific, Latin America, and Middle
East & Africa. Among all, North America holds the largest market share and
is likely to dominate the market during the forecast period. This is attributed
to the high occurrence of chronic diseases such as chronic pain and spasticity
in this region. Moreover, the presence of a large geriatric population with
chronic diseases also drives the demand for smart implantable pumps in the North
American region. The Asia-Pacific is estimated to grow at a rapid speed due to
the increase in the number of cardiac diseases and other chronic diseases.
Moreover, growth in health care expenditure is also likely to drive the market
during the forecast period.
The report on the global smart implantable pumps market covers
segments such as type, application, and end user. On the basis of type, the
sub-markets include perfusion pumps, and micro pumps. On the basis of
application, the sub-markets include pain and spasticity, and cardiovascular.
On the basis of end user, the sub-markets include hospitals, ambulatory
surgical centers, and other end user.
The report provides profiles of the companies in the market such
as Flowonix Medical, Inc., Berlin Heart, Medtronic, plc, Abbott, Cognos
Therapeutics, Tricumed Medizintechnik GmbH, and Intarcia Therapeutics, Inc.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the smart
implantable pumps market. Moreover, the study highlights current market trends
and provides forecast from 2019-2025. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.