The global implantable infusion pump market is set to witness significant growth, with an expected valuation of approximately USD 485.1 million in 2022. The market is projected to expand at a robust compound annual growth rate (CAGR) of 5.7% between 2022 and 2032, ultimately reaching around USD 892.6 million by the end of the forecast period.
Key Market Drivers
The primary factors driving the growth of the implantable infusion pump market include:
- Rising Incidence of Chronic Disorders: The increasing prevalence of chronic conditions such as diabetes and cancer is creating a heightened demand for effective drug delivery solutions.
- Aging Population: The growing elderly population is contributing to a higher incidence of health issues that require long-term treatment and management, thereby bolstering the need for implantable infusion pumps.
- Technological Advancements: Continuous innovations in medical technology are enhancing the efficiency and reliability of implantable infusion pumps, making them more appealing to healthcare providers and patients alike.
Understanding Implantable Infusion Pumps
An implantable infusion pump is a sophisticated medical device designed to deliver medications directly to patients through various routes, including intra-arterial, intravenous, subcutaneous, intraperitoneal, intrathecal, and epidural pathways. These pumps are surgically implanted in a subcutaneous pocket within the abdominal wall, allowing for seamless administration of therapy over extended periods.
Future Outlook
As the healthcare landscape evolves, the implantable infusion pump market is expected to grow in response to increasing demand for advanced therapeutic solutions. This growth presents opportunities for manufacturers to innovate and expand their product offerings to meet the diverse needs of patients and healthcare providers.
Who are the Leading Players in Implantable Infusion Pump Market?
Some leading implantable infusion pump manufacturers include B. Braun Melsungen AG., CareFusion Corporation, Fresenius Kabi AG, Terumo Corporation, Medtronic Plc., Baxter International Inc., Smiths Medical, MOOG Inc., Johnson & Johnson Private Ltd., and Hospira, Inc., Flowonix, The Tandem Diabetes Care.
These key implantable infusion pump providers are adopting various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc. to increase their sales and gain a competitive edge in the global implantable infusion pump market. For instance,
- Flowonix received FDA authorization to market the Prometra® II Pump for use with Intrathecal Baclofen in February 2020.
- The Tandem Diabetes Care t:Slim X2 insulin pump with interoperable technology (interoperable t:Slim X2) for providing insulin under the skin for children and adults with diabetes was approved for branding by the US Food and Drug Administration in February 2019.
- Medtronic received pre-market approval from the US Food and Drug Administration for the SynchroMed II Implantable Infusion Pump and Implantable System for Remodulin in May 2020.
Key Segments of Implantable Infusion Pump Industry Survey
By Product Type:
- Patient-Controlled Analgesia (PCA) Pump
- Enteral Pump
- Insulin Pump
- Elastomeric Pump
- Syringe Pump
By Application:
- Oncology
- Pediatrics/Neonatology
- Gastroenterology
- Hematology
- Diabetes
By End User:
- Hospitals
- Ambulatory Surgical Centres
- Clinics
- Home Healthcare
By Region:
- North America Implantable Infusion Pump Market
- Latin America Implantable Infusion Pump Market
- Europe Implantable Infusion Pump Market
- Asia Pacific Implantable Infusion Pump Market
- Middle East & Africa Implantable Infusion Pump Market
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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