Implantable infusion pumps are compact devices that are surgically implanted under the skin to deliver drug 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 market are rise in geriatric population, wide prevalence of chronic diseases, access to healthcare services and rise in private sector hospitals. Due to better health awareness there has been rise in geriatric population in both the developed and developing nations as a result the rate of hospitalization has increased the number of implant surgeries. Wide prevalence of chronic diseases requiring post-operative pain management will have a positive impact on the growth of the implantable infusion pumps market. Healthcare insurance companies have made it possible for ailing patients to access to better healthcare services. Rise in private sector hospitals spending huge amount on health and welfare and its expansion to rural areas have 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 implant (gear stopping, battery dying) would lead to serious injury. Restraints regarding the implantable infusion pumps market are ambiguous reimbursement, frequent product recalls due to 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 expenditure on the product R&D. This has a negative impact on the market penetration of implantable infusion pumps market.
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 is expected to assist the growth of implantable infusion pumps market in these regions. The pitfall being high degree of competition by major players which urges need for path breaking innovation in design and application to reduce the probability of product recalls and adverse impact on patient safety. Asia-Pacific and Middle East and Africa are potential market due to high prevalence of chronic diseases requiring immediate medical intervention but less disease awareness. The untapped market in the remote and semi-urban areas can be captured.
Manufacturers like Codman and Shurtleff (CODMAN 3000) provides constant flow of drug delivery for treatment of chronic pain. Medtronics provides insulin pumps with continuous glucose monitoring. The latest products observed in the implantable infusion pump market are Osmotic pumps (ALZET), Balloon pumps (Fresenius Kabi AG) are employed for better results.
The global implantable infusion pumps market is segmented on the following bases:
- Malignant pain management
- Non-malignant pain management
- Spasticity treatment
- Cancer treatment
- North America
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key players identified for global implantable infusion pumps market include:
The major players involved in global implantable infusion pumps market are Codman and Shurtleff, I-Flow Corp/Hylard Health, Flowobix Medical, Inc., Medtronic, Tricumed Medizintechnik GmbH.
This report offers:
- An overview of the global implantable infusion pumps 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, fractal map assessment.
- Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
- A general overview of the industry structure.
- Company profiles highlighting key information about the major players operating in the global implantable infusion pumps market.