Smart Implantable Pumps Market: Description
Implantable pumps are being developed in order to deliver drug amounts that traditional controlled release formulations cannot handle or to offer external control of delivery rate. An advanced technological drug delivery device is an implanted pump. These pumps are used to administer narcotic, chemotherapeutic, and antispasmodic medications. The Infusaid, the most widely used device, uses a fluorocarbon vapor-liquid mixture to maintain a consistent delivery rate.
Transcutaneous telemetry is used to activate implantable pumps, which can dispense medications at varying rates in accordance with a physician-preprogrammed schedule. In response to variations in blood glucose levels, it also permits manual modifications. The subcutaneous reservoirs for implantable pumps are connected to the body by a catheter.
Smart Implantable Pumps Market: Overview
The market for smart implantable pumps was valued at 1.6 billion dollars in 2020 and is anticipated to increase to 3.1 billion dollars by 2028, at a CAGR of 7.37% from 2021 to 2028.
Rising disposable income, an ageing population with a higher incidence of sickness, and improvements in the healthcare system are some of the drivers predicted to fuel market expansion over the projected period. The market is comprehensively evaluated in the report on the global smart implantable pumps market. The research provides a thorough analysis of the market’s key segments, trends, drivers, restraints, competitive environment, and other factors.
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Market Insights
The market share for volumetric infusion pumps was 16.8% in 2021. Due to their ability to deliver fluids continuously in very precise amounts at rates ranging from very slow to very fast, these pumps accounted for a significant portion of the market. The intravenous infusion pump market is divided based on product into implantable infusion pumps, ambulatory infusion pumps, patient-controlled analgesia infusion pumps, insulin infusion pumps, syringe infusion pumps, and volumetric infusion pumps.As they are frequently preferred for the delivery of nutrients and drugs, ambulatory infusion pumps, which are used to administer liquid nutrients and medications to a patient in both emergency situations and for chronic diseases, contributed to a sizable market share in 2021.
Smart Implantable Pumps Market: Segment Analysis
By Type
- Micro-pumps
- Perfusion Pumps
By Application
- Hospitals
- Ambulatory Surgical Centers
Top key players
- Medtronic
- Tricumed Medizintechnik GmbH
- Flowonix Medical
- Abbott
- Berlin Heart
- Intarcia Therapeutics
- Cognos Therapeutics
Key Regions & Countries
North America (the United States, Canada, and Mexico), Europe, (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia, etc.), and The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
FAQs
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REPORT ATTRIBUTES DETAILS
STUDY PERIOD 2017-2028
BASE YEAR 2020
FORECAST PERIOD 2022-2030
HISTORICAL PERIO 2017-2019
UNIT Value (USD Billion)
Market SEGMENTS COVERED
By Type, By Application, By End-User, And By Geography
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