Implantable Infusion Pumps Market

Implantable Infusion Pump Market By Application (Chronic Pain, Diabetes, Oncology, and Others], End-User (Hospitals, Ambulatory Surgical Centers, Homecare Settings, and Others), and Geography is expected to grow at a steady CAGR forecast till 2028 due to rising prevalence of various chronic disorders and rising investment towards new product innovations

The global Implantable Infusion Pump market will grow at a CAGR of 5.6% during the forecast period from 2023 to 2028. The demand for implantable infusion pumps is primarily associated with the growing prevalence of various disorders such as diabetes, cancer, chronic pain, and various other disorders among the population coupled with the growing burden of the old age population, integration of advanced technology, increasing investments by government and private manufacturers towards new product innovations in implantable drug infusion pumps, and rising awareness programs regarding proper management of disorders, among others.

Implantable Infusion Pump Market Dynamics:

The rising prevalence of implantable infusion pumps is going to accelerate the demand for implantable infusion pumps. As per the data published by the International Diabetes Federation 2021, globally around 537 million adults aged between 20 and 79 years have diabetes and this number is estimated to rise to 643 million by 2030 and 783 million by 2045.

Implantable insulin pumps which are a type of implantable infusion pump are used to deliver insulin in the peritoneal cavity which has a rich supply of blood vessels and can therefore absorb insulin very efficiently. Thereby raising the demand for implantable infusion pumps.

In addition, emerging guidelines from the government concerning an implantable infusion pump for the treatment of cancer, spasticity, and pulmonary arterial hypertension, are likely to augment the market during the forecasted period. For instance, in October 2020, UniCare published the guideline addressing the use of implantable infusion pumps, intended to provide long-term, continuous, or intermittent drug infusion. Hence, the aforementioned factors will contribute to the global implantable infusion pump market growth.

However, certain factors such as stringent regulatory approval process and medication errors while drug delivery are likely to pose a minor hurdle for the growth of the implantable infusion pump market.

Global Implantable Infusion Pump Segment Analysis:

Implantable Infusion Pump by Application (Chronic Pain, Diabetes, Oncology, and Others], End-User (Hospitals, Ambulatory Surgical Centers, Homecare Settings, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Implantable Infusion Pump application segment, Oncology is expected to hold the largest share of the implantable infusion pumps. This is owing to the rising cases of cancer among the population worldwide.

The study conducted by the International Agency for Research on Cancer mentioned that worldwide, an estimated 19.3 million new cancer cases were reported in 2020.

According to the data cited by the World Health Organization 2022, worldwide around 2.26 million cases of breast, 2.21 million cases of lung, 1.93 million cases of colon and rectum, 1.41 million cases of prostate, and 1.09 million cases of stomach cancer were reported in 2020.

Also, as per Global Cancer Observatory 2021 data, globally around 544,352 cases of Non-Hodgkin lymphoma and 83,087 cases of Hodgkin lymphoma were reported in 2020. As per the same source globally around 474,519 leukemia cases and nearly 176,404 cases of multiple myeloma were reported in 2020.

The data published by Global Cancer Observatory (2020) says that globally around 1.41 million new cases of prostate cancer were reported in 2020 and by 2040 this number is expected to reach 2.24 million.

Therefore, rising cases of cancer across the globe can boost the market for implantable infusion pump devices.

North America Is Expected To Dominate The Overall Implantable Infusion Pump Market:

Among all the regions, North America is expected to dominate the overall Implantable Infusion Pump market during the forecast period. This domination is due to the growing prevalence of chronic diseases, and access to better healthcare infrastructure coupled with the presence of major market players in the region. Also, the supportive reimbursement programs covering the costs for the implantable devices as well as the procedure further encouraged people to opt for such devices in the region.

Further, In the United States, the rising prevalence of chronic pain is expected to fuel the market for implantable infusion pumps. According to CDC 2020 data, in 2019, 20.4% of adults had chronic pain and 7.4% of adults had chronic pain that frequently limited life or work activities (referred to as high-impact chronic pain) and both increased with age and were highest among adults aged 65 and over.

Thus rising chronic pain cases are expected to raise the demand for implantable infusion pumps as these are surgically implanted to provide continuous drug delivery for pain management in patients with non-cancer pain.

Moreover, recent product approval by the US regulatory body Food and Drug Administration is also expected to bolster the market for implantable infusion pumps in the region. For instance, recently in May 2020, Medtronic received pre-market approval from the US FDA for SynchroMed II Implantable Infusion Pump and Implantable System for Remodulin.

Hence, the above-mentioned factors are expected to drive the implantable infusion pump market during the forecasted period.

Implantable Infusion Pump Market Key Players:

Some of the key market players operating in the Implantable Infusion Pump market include Medtronic; Intera Oncology, FLOWONIX MEDICAL INC, Tandem Diabetes Care, Inc., and others.

Recent Developmental Activities in Implantable Infusion Pump Market:

• In February 2020, Flowonix received FDA approval to market Prometra® II Pump for use with Intrathecal Baclofen.

Key Takes Away from the Implantable Infusion Pump Market Report Study

• Market size analysis for current market size (2022), and market forecast for 5 years (2023-2028)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the Global Implantable Infusion Pump Market.
• Various opportunities available for the other competitor in the Implantable Infusion Pump Market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028?
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for implantable infusion pump market growth in the coming future?

Target Audience who can be benefited from Implantable Infusion Pump Market Report Study

• Implantable Infusion Pump providers
• Research organizations and consulting companies
• Implantable Infusion Pump-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in implantable infusion pump
• Various End-Users who want to know more about the implantable infusion pump market and the latest technological developments in the implantable infusion pump market.

Frequently Asked Questions for Implantable Infusion Pumps Market:

1. What are Implantable Infusion Pumps Market?

Implantable infusion pumps are small devices that are implanted beneath the skin via surgery to deliver liquid pain medication to a specific area of your body via a tiny, flexible tube (catheter). Infusion pumps can deliver precise and constant pain relief medication.

2. What is the market for global implantable infusion pumps?

The global implantable infusion pump market will grow at a CAGR of 5.6% during the forecast period from 2023 to 2028.

3. What are the drivers for global implantable infusion pumps market?

The major drivers driving the demand for implantable infusion pumps are the rowing prevalence of various disorders such as diabetes, cancer, chronic pain, and various other disorders among the population coupled with the growing burden of the old age population, integration of advanced technology, increasing investments by government and private manufacturers towards new product innovations in implantable drug infusion pumps, and rising awareness programs regarding proper management of disorders, among others.

4. What are the key players operating in global implantable infusion pumps market?

Some of the key market players operating in the Implantable Infusion Pump market include Medtronic; Intera Oncology, FLOWONIX MEDICAL INC, Tandem Diabetes Care, Inc., and others.

5. Which region has the highest share in the implantable infusion pumps market?

North America is anticipated to dominate the overall implantable infusion pumps market during the forecast period, 2023-2028 due to the improved healthcare infrastructure, and favorable reimbursement scenario in the region. Moreover, recent product approvals and the presence of key manufacturers are also factors contributing to the highest market share.