Implantable Infusion Pumps Market Growth Projections Show Steady Expansion at 5.15% CAGR to Reach USD 23.96 Billion by 2031

"Implantable Infusion Pumps Market" in terms of revenue was estimated to be worth USD 16.24 billion in 2023 and is poised to reach USD 23.96 billion by 2031, growing at a CAGR of 5.15% from 2024 to 2031 according to a new report by InsightAce Analytic.

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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the implantable infusion pumps market are:
• Raise consciousness of the developments in infusion pump technology
• An uptick in the number of people living with chronic illnesses
• The need for ambulatory pumps is on the rise

The following are the primary obstacles to the implantable infusion pumps market's expansion:
• High cost
• Strict regulators
• Lack of awareness

Future expansion opportunities for the implantable infusion pumps market include:
• Improvements in drug delivery technology
• A growing number of elderly people
• Favorable government policies on reimbursement

Market Analysis:
The market is projected to witness accelerated growth driven by several factors, including the rising number of surgeries conducted in ambulatory care settings, the increasing elderly population, and the growing prevalence of chronic conditions such as diabetes. The demand for implantable infusion pumps is expected to intensify in emerging markets, presenting significant opportunities for market participants. Additionally, the global aging population is contributing to a higher incidence of age-related cardiovascular issues, further driving the demand for implantable infusion pumps, particularly as older individuals become more susceptible to cardiac disorders.

List of Prominent Players in the Implantable Infusion Pumps Market:
• Codman & Shurtleff, Inc (Johnson & Johnson)
• I-Flow Corp/Hylard Health
• Flowobix Medical, Inc.
• Medtronic
• Tricumed Medizintechnik GmbH.
• Debiotech SA
• Eksigent Technologies LLC
• InBrain Pharma SAS
• Intarcia Therapeutics Inc
• Others

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Recent Developments:
• In Nov 2022, Medtronic introduced the first and only infusion set for insulin pumps in the world, which has increased wear duration by seven days in the United States. Typically, an insulin pump supplied insulin to the body via tubing known as the infusion set, which required replacement every two to three days.

Implantable Infusion Pumps Market Dynamics:
Market Drivers: Increased Adoption of Ambulatory Pumps
Ambulatory pumps have become an essential tool for the delivery of various medications, including chemotherapy, analgesics, and transfusion-related fluids, in both healthcare facilities and home care settings. These devices are particularly suited for active patients, as they are compact, lightweight, and capable of providing continuous medication infusion. The growing trend in developed countries of managing chronic conditions outside hospital settings has further fueled the demand for ambulatory pumps. The convenience and ease of use of implantable infusion pumps have significantly contributed to their rising demand.

Challenges: High Treatment Costs
The high cost of implantable infusion pumps and their associated treatments remains a barrier for healthcare providers and patients in low- and middle-income countries. The expensive nature of these advanced devices limits their market potential, as many consumers are unable to afford them. Additionally, the complexity of approval processes due to stringent regulations on the manufacturing and use of implantable infusion pumps has further slowed market growth. Frequent product recalls resulting from manufacturing defects also hinder the development of the industry.

Regional Growth: North America to Lead Market Expansion
The implantable infusion pumps market is expected to achieve substantial revenue growth and a high compound annual growth rate (CAGR) in the coming years. This growth is driven by improving reimbursement policies, the rising number of diabetes diagnoses and treatments, and the increasing adoption of implantable infusion pumps. North America's market expansion is further supported by advancements in medical device technologies, heightened awareness of innovative therapies, significant healthcare investments, and the growing prevalence of chronic diseases in the region.

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Segmentation of Implantable Infusion Pumps Market-
By Product Type-
• Piston Type Infusion Pumps
• Creeping Type Infusion Pumps
• Enteral Pump
• Elastomeric Pump
• Insulin Pump
• Syringe Pump
By Application-
• Cancer Treatment
• Pediatrics/Neonatology
• Gastroenterology
• Hematology
• Diabetes
• Spasticity treatment
• Others
By End-User
• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

Contact us:
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This release was published on openPR.