Smart Implantable Pumps Market Growth, Market Insights and Forecast to 2025
Posted by rekha on December 10th, 2019
“The Global Smart Implantable Pumps Market was valued at US$ 1,426.2 Mn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to increasing adoption of implantable pumps in the developed economies”
Precision Business Insights (PBI) in its report titled “Global Smart Implantable Pumps Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over six years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global smart implantable pumps market is expected to be valued at US$ 1,426.2 Mn in 2018 and growing at a CAGR of 8.3% over the forecast period to reach US$Mn by 2025 owing to the increasing prevalence and incidence rate of chronic diseases coupled with growing geriatric population across the globe are the major factors driving the growth of the market. Furthermore, advancements in healthcare set-up and rising number of patient population with chronic pain and other chronic diseases are expected to boost the growth of the market. For instance, in U.S., around 20% to 30% of the population experiences chronic or recurring pain. Moreover, rising adoption of infusion pumps or implantable pumps which are small sized medical devices is the major factor that fuels the growth of the market over the forecast period. However, increasing product recalls and stringent regulatory policies for the approval of the products are anticipated to restrain the growth of the market.
Global smart implantable pumps market segmented on the product type, application, end user, and region.
For Request Sample Report @https://www.precisionbusinessinsights.com/request-sample?product_id=38611
Perfusion Smart Implantable Pumps segment accounted for higher revenue share
Based on product type, global smart implantable pumps market is segmented micro-pumps and perfusion pumps. Perfusion pumps segment accounted for the largest market share owing to adoption of the novel products that are commercialized in the market. The increasing prevalence of diabetes which leads to complications of cardiac diseases is the major factor driving the growth of the market over the forecast years.
North America dominates the market
PBI’s global smart implantable pumps market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America dominated the market over the past years and is expected to grow with a CAGR of 7.5% over the forecast years owing to increasing prevalence of cardiovascular diseases in the United States and accessibility of favorable reimbursement policies, rising number of ambulatory surgical centers and top leading hospitals offering best-in-class facilities for the treatment. Furthermore, rising adoption of innovative technologies in the developed nations is the major factor driving the growth of the market over the forecast period. Asia Pacific is expected to grow with a notable CAGR over the forecast period owing to increasing prevalence of chronic diseases mainly in the high populous countries such as China and India and government support in the development of healthcare infrastructure in the region.
Recent Developments in the Global Smart Implantable Pumps Market
Key player’s profiles in the report are Medtronic, Cognos Therapeutics, Inc., Tricumed Medizintechnik, Intarcia Therapeutics, Inc., Abbott, Flowonix Medical, and Berlin Heart.
By Product Type
o Perfusion Pumps
By End User
o Ambulatory Surgical Centers
o North America
o Latin America
o Middle East and Africa (MEA)
Like it? Share it!
About the Authorrekha
Joined: July 26th, 2019
Articles Posted: 219
More by this author