The Infinium Global Research analyzes the Smart Implantable Pumps Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global smart implantable pumps market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of smart implantable pumps. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the smart implantable pumps market during the period. The global smart implantable pumps market is projected to grow at a CAGR of 7.7% over the forecast period of 2019-2025.
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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.
North America Holds the Largest Market Share and is Likely to Dominate the Market
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.
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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.
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=> Comprehensive analysis of global as well as regional markets of the smart implantable pumps.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.