Future Growth Forecast For The Implantable Infusion Pumps Global Market 2023-2032
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According to The Business Research Company’s report, the global implantable infusion pumps market is projected to increase from $18.26 billion in 2022 to $19.14 billion in 2023, with a 4.8% CAGR. It’s expected to reach $23.12 billion by 2027, maintaining the same 4.8% CAGR.
What was the major driver in the implantable infusion pumps market?
Growing numbers of people with chronic pain, cancer, and diabetes are set to boost implantable infusion pump demand. These pumps are crucial in delivering medications for these ailments. Global chronic disease prevalence rises due to aging populations and changing lifestyles. For conditions like chronic arachnoiditis, implantable pumps offer efficient pain relief with lower drug doses. The World Health Organization predicts a 57% increase in chronic diseases by 2020, underlining the market’s growth driven by chronic disease prevalence.
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What was the key trend in the implantable infusion pumps market?
Implantable infusion pump market companies prioritize smart pumps with wireless tech. It simplifies usage, connectivity, and data analysis in health monitoring devices. Wireless technology integrates data transfer via Bluetooth or cellular connections to smartphones or devices for processing and display. Software platforms aid patient monitoring, reducing errors.
Which was the largest region in the implantable infusion pumps market?
North America was the largest region in the implantable infusion pumps market in 2022. Asia-Pacific was the second-largest region in the global implantable infusion pumps market share. The regions covered in the global implantable infusion pumps market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Who are the implantable infusion pumps market prominent players?
Major players in the implantable infusion pumps market are Medtronic, Boston Scientific Corporation, Nevro Corporation, Cyberonics, Baxter, B=. Braun Melsungen AG, Fresenius Kabi AG, Smiths Medical, Terumo Corporation, and Neuropace.
Key implantable infusion pumps market segments
The global implantable infusion pumps market is segmented –
1) By Type: Patient-Controlled Analgesia (PCA) Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Syringe Pumps, Other Types
2) By Applications: Oncology, Pediatrics/Neonatology, Gastroenterology, Hematology, Diabetes, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Specialty Clinics
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