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 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 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 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.
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