The Infinium Global Research analyzes the Global 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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Increase in the Incidence of Chronic Diseases is the Major Factor that Drives the Growth of the Market Across the Globe
An increase in the incidence of chronic diseases is the major factor that drives the growth of the market across the globe. Rise in the number of old population and growing awareness about health among individuals are the other factors that drive the growth of smart implantable pumps market. Also, increasing healthcare expenditure and reimbursement policies also helps in the growth of the market. However, rising number of product recalls due to medication errors related to infusion pumps and stringent regulatory policies for approval for these products are a major factor that is likely to hamper the growth of the target market to a greater extent. Furthermore, technological developments like the introduction of intelligent pumps and the growth of wireless technology create an opportunity for the growth pf smart implantable pumps market in the upcoming years.
Smart Implantable Pumps Market: Segmentation
The global smart implantable pump market is segmented based on type, application, and end-user. Based on type, the market is divided into perfusion pumps and micro pumps. The perfusion pumps segment holds the largest share and it is estimated to dominate the global market during the forecast period. This is attributed to the wide adoption of these devices. Furthermore, technological advancements in perfusion pumps are likely to fuel the growth of the segment over the forecast period. Moreover, in terms of application, the global smart implantable pump market is bifurcated into pain & spasticity and cardiovascular. Based on end-user, the global market has been segmented into hospitals, ambulatory surgical centers, and others.
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North America is Leading the Smart Implantable Pumps Market
Geographically, the global smart implantable pumps market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among all, North America is leading the smart implantable pumps market and is likely to dominate the market over the forecast period. This is credited to the high rate of chronic diseases such as chronic pain and spasticity in this region Moreover, the smart implantable pumps market is estimated to grow at a rapid speed in the Asia Pacific region. This is attributed to the rise in the number of cardiac diseases and other chronic diseases. Also, an increase in health care expenditure is likely to drive the market over the forecast period.
Smart Implantable Pumps Market: Competitive Landscape
The global smart implantable pumps market comprises with the players such as Flowonix Medical, Inc., Berlin Heart, Medtronic, plc., Abbott, Cognos Therapeutics, Tricumed Medizintechnik GmbH, and Intarcia Therapeutics, Inc. These players focus on strategic collaborations to develop new drug-device combination for better treatment results.
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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.