Overview:
Implantable infusion pumps are compact devices that are surgically implanted under the skin to deliver drugs to specific parts of the human body. They provide targeted and consistent medication to reduce pain. The major factorial entities supporting the growth in demand for implantable infusion pumps are the rise in the geriatric population, the wide prevalence of chronic diseases, access to healthcare services, and the rise in private sector hospitals. Due to better health awareness, there has been a rise in the geriatric population in both developed and developing nations. As a result, the rate of hospitalization has increased, as has the number of implant surgeries. The wide prevalence of chronic diseases requiring post-operative pain management will have a positive impact on the growth of the implantable infusion pump market. Healthcare insurance companies have made it possible for ailing patients to access better healthcare services. The rise of private sector hospitals spending huge amounts on health and welfare and their expansion into rural areas have had a positive impact on the deep market penetration of implantable infusion pumps. However, the challenges in this scenario would be drug withdrawal symptoms, pain, and infection at the implant site, and potential complications arising because of mechanical problems related to the implant (gear stopping, battery dying) would lead to serious injury. Restraints regarding the implantable infusion pumps market are ambiguous reimbursement, and frequent product recalls due to the complexity of the equipment. Ambiguous reimbursement policies cause service discrimination in the cost coverage for the diseases requiring drug implant services, which is the biggest hurdle for the expenditure in the healthcare domain. The complexity in the design of the pump and repetitive failure in the drug delivery of the pumps, leading to frequent product recalls, have led to huge expenditures on product R&D. This has a negative impact on the market penetration of implantable infusion pumps.
In North America and Europe, there is an increasing number of major chronic diseases like gastrointestinal complications, cardiovascular diseases, diabetes, and cancer. High disease awareness and rising demand for minimally invasive surgery are expected to assist the growth of the implantable infusion pump market in these regions. The pitfall is the high degree of competition among major players, which urges the need for pathbreaking innovation in design and application to reduce the probability of product recalls and adverse impacts on patient safety. Asia-Pacific, the Middle East, and Africa are potential markets due to the high prevalence of chronic diseases requiring immediate medical intervention but low disease awareness. The untapped market in remote and semi-urban areas can be captured.
Manufacturers like Codman and Shurtleff (CODMAN 3000) provide a constant flow of drug delivery for the treatment of chronic pain. Medtronic provides insulin pumps with continuous glucose monitoring. The latest products observed in the implantable infusion pump market are osmotic pumps (ALZET) and balloon pumps (Fresenius Kabi AG), which are employed for better results.
The global implantable infusion pumps market is segmented on the following bases:
By Applications
- Malignant pain management
- Non-malignant pain management
- Spasticity treatment
- Cancer treatment
By Geography
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified for the global implantable infusion pumps market include:
The major players involved in the global implantable infusion pumps market are Codman and Shurtleff, I-Flow Corp./Hylard Health, Flowobix Medical, Inc., Medtronic, and Tricumed Medizintechnik GmbH.
This report offers the following:
- An overview of the global implantable infusion pump market
- Market trends assessment for the period 2015–2025, with historical information for 2015 and projections through 2025, with respective CAGRs during 2017–2025.
- Qualitative assessment tools such as market drivers, challenges, and future prospects
- Market competition scrutiny tools such as market share analysis and fractal map assessment
- Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
- A general overview of the industry structure.
- Company profiles highlight key information about the major players operating in the global implantable infusion pumps market.
