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Global Smart Implantable Pumps Market Share, Size, Trends, Analysis, Growth, Forecast: By Type: Perfusion Pumps, Micro-Pumps; By Application: Pain and Spasticity, Cardiovascular; By End User: Hospitals, Ambulatory Surgical Centers, Others; Regional Analysis; Patent Analysis; Clinical Trials Analysis; Supplier Landscape; 2024-2032
Global Smart Implantable Pumps Market Outlook
The global smart implantable pumps market size was valued at USD 2.55 billion in 2023, driven by the growing prevalence of chronic diseases, increasing geriatric population, and the ease of administration. The market is anticipated to grow at a CAGR of 7.9% during the forecast period 2024-2032 to reach a value of USD 5.05 billion by 2032.
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Key Trends in the Market
Smart implantable pumps refer to advanced drug delivery devices or systems that are implanted under the skin. Such technology is employed for the administration of a constant dose of drugs including chemotherapeutic, anti-spasmodic, and opioid drugs. With the smart implantable pumps, it is easier to monitor the release of drugs. These devices are commonly used for patients experiencing chronic conditions like diabetes, cancer, cardiac issues, chronic pain, and neurological conditions.
- The growing prevalence of chronic diseases along with the rising geriatric population, favourable reimbursement policies for smart pumps and increasing healthcare expenditure are some of the key aspects likely to drive the smart implantable pumps market.
- Smart implantable pumps have various benefits over traditional drug delivery devices like minimal side effects, ease of administration, and targeted drug delivery. This is expected to bolster the market growth of smart implantable pumps across the globe over the upcoming years.
- The increasing focus of several multinational companies on new innovations for smart implantable pumps along with rapid technological advances in the healthcare industry is likely to propel the smart implantable pumps market over the coming years.
Market Analysis
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Based on type, the market can be segmented into perfusion pumps and micro-pumps. On the basis of application, the market is categorised into pain control, and cardiovascular, among others. Based on end use, the market is segregated into hospitals, and ambulatory surgical centres, among others. The regional markets for smart implantable pumps can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global smart implantable pumps market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- ICU Medical, Inc.
- Medtronic
- Flowonix Medical Inc.
- Cognos Therapeutics, Inc
- Tricumed Medizintechnik GmbH
- Others
Market Share by Applications
The cardiovascular segment is expected to witness substantial growth in the smart implantable pumps market share across the globe on account of the increase in the prevalence of cardiovascular diseases among the rising population across the globe. An upsurge in the incidence of heart failure along with a shortage of heart donors is likely to boost the segment growth over the forecast period. Furthermore, with smart implantable pumps, patients can be provided with a steady and regular dosage, preventing cardiac crises. Changing lifestyles in emerging economies is resulting in increased risk for cardiovascular disorders which are likely to drive the segment growth in the market.
Meanwhile, pain control applications of smart implantable pumps hold a sizable share of the market due to the increase in chronic pain patients worldwide. While there are many treatment protocols for chronic pain, smart implantable pumps are often beneficial for those suffering from extreme and consistent pain.
Market Share by Region
Geographically, the North America region is expected to account for substantial growth in the smart implantable pumps market on account of the rising prevalence of cardiac diseases as well as chronic pain. The increasing health expenditure and presence of a growing geriatric population is likely to enhance the market demand for smart implantable pumps across the region, as geriatrics are more prone to chronic diseases.
Technological maturity and accessibility to advanced healthcare devices in countries such as the United States is likely to fuel the market share of smart implantable pumps in the region. The rising focus on patient monitoring and data logging is expected to increase the adoption of smart implantable pumps which enable better data analysis and patient care.
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Competitive Landscape
ICU Medical, Inc. is a medical device company that develops, manufactures, commercialises, and distributes devices used in infusion therapy and critical care applications. Its major product offerings comprise of IV smart pumps, IV solutions, automated pharmacy IV compounding systems, IV sets, closed system transfer devices, needle-free connectors, cardiac output monitoring sensors and catheters, and hemodynamic monitoring systems, among others. The company provides its products to acute care hospitals, ambulatory clinics, and wholesalers, among other healthcare facilities.
Medtronic was established in 1949 and is one of the leading medical device companies across the globe. The company aims to create connections to optimise healthcare systems. The company has developed additional core technologies, comprising of drug and biologic delivery devices, implantable mechanical devices, and powered and advanced energy surgical instruments.
Flowonix Medical Inc. was founded in 2005 and is a medical device company. It provides insulin, valve-regulated intrathecal pumps, refillable pumps, catheters, pump diagnostic systems, and power electromagnetic valves. The company is dedicated to working with healthcare professionals to aid in the easing of suffering and helping people regain their lives through innovation and therapy advancements.
Other market players include Cognos Therapeutics, Inc, and Tricumed Medizintechnik GmbH, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Smart Implantable Pumps Market Overview
3.1 Smart Implantable Pumps Market Historical Value (2017-2023)
3.2 Smart Implantable Pumps Market Forecast Value (2024-2032)
4 Global Smart Implantable Pumps Market Landscape
4.1 Smart Implantable Pumps: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Smart Implantable Pumps: Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Technology
4.2.3 Analysis by End user
5 Global Smart Implantable Pumps Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Smart Implantable Pumps Market Segmentation
6.1 Smart Implantable Pumps Market by Type
6.1.1 Market Overview
6.1.2 Perfusion Pumps
6.1.3 Micro-Pumps
6.2 Smart Implantable Pumps Market by Application
6.2.1 Market Overview
6.2.2 Pain and Spasticity
6.2.3 Cardiovascular
6.3 Smart Implantable Pumps Market by End User
6.3.1 Market Overview
6.3.2 Hospitals
6.3.3 Ambulatory Surgical Centers
6.3.4 Others
6.4 Smart Implantable Pumps Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Smart Implantable Pumps Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Smart Implantable Pumps Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Smart Implantable Pumps Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Smart Implantable Pumps Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Smart Implantable Pumps Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by NIH Departments
14.7 Analysis by Recipient Organization
15 Clinical Trials Analysis
15.1 Analysis by Trial Registration Year
15.2 Analysis by Trial Status
15.3 Analysis by Trial Phase
15.4 Analysis by Therapeutic Area
15.5 Analysis by Geography
16 Funding and Investment Analysis
16.1 Analysis by Funding Instances
16.2 Analysis by Type of Funding
16.3 Analysis by Funding Amount
16.4 Analysis by Leading Players
16.5 Analysis by Leading Investors
16.6 Analysis by Geography
17 Partnership and Collaborations Analysis
17.1 Analysis by Partnership Instances
17.2 Analysis by Type of Partnership
17.3 Analysis by Leading Players
17.4 Analysis by Geography
18 Supplier Landscape
18.1 FLOWONIX MEDICAL INC
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 Berlin Heart
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 Medtronic plc
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Cognos Therapeutics
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Intarcia Therapeutics
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Tricumed Medizintechnik GmbH
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 Abbott Laboratories
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 Terumo Europe NV
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 Baxter
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Johnson & Johnson
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
19 Smart Implantable Pumps - Distribution Model (Additional Insight)
19.1 Overview
19.2 Potential Distributors
19.3 Key Parameters for Distribution Partner Assessment
20 Key Opinion Leaders (KOL) Insights (Additional Insight)
21 Company Competitiveness Analysis (Additional Insight)
21.1 Very Small Companies
21.2 Small Companies
21.3 Mid-Sized Companies
21.4 Large Companies
21.5 Very Large Companies
22 Payment Methods (Additional Insight)
22.1 Government Funded
22.2 Private Insurance
22.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The global smart implantable pumps market reached a value of USD 2.55 billion in 2023.
The market is anticipated to grow at a CAGR of 7.9% during the forecast period of 2024-2032 to reach a value of USD 5.05 billion by 2032.
The major market drivers are the growing prevalence of chronic diseases, increasing geriatric population, and the ease of administration they offer.
The key smart implantable pumps market trends include technological advancements in smart pumps, the growing healthcare industry, and increasing healthcare spending across the globe.
The primary types of smart implantable pumps are perfusion pumps and micro-pumps.
End uses of smart implantable pumps include hospitals, and ambulatory surgical centres, among others.
The various applications of smart implantable pumps include pain control, and cardiovascular, among others.
The major players in the market are ICU Medical, Inc., Medtronic, Flowonix Medical Inc., Cognos Therapeutics, Inc, and Tricumed Medizintechnik GmbH, among others.
Smart implantable pumps reduce medication errors, improve treatment, lower adverse drug reactions, and are cost-effective.
As opposed to traditional pumps, which require healthcare personnel to compute flow rate or employ dose/duration-rate calculators, smart pumps readily provide programming fields that match medicine orders.
Smart implantable pumps are connected to reservoirs where the drugs are stored, which is linked with catheters placed under the skin.
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