Implantable Infusion Pump Market : Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Implantable Infusion Pump Market Insights:
An implantable infusion pump can be inserted into a patient's body and used to deliver drugs, nutrients, or other fluids directly into the patient's bloodstream. These devices are surgically implanted under the skin and can be programmed to deliver a predetermined amount of medication over a period of time. These devices can be programmed to deliver precise doses of medication at predetermined intervals and are commonly used to treat conditions such as diabetes, cancer, and chronic pain.
Increasing demand for minimally invasive treatments, technological advancements in infusion pump technology, and increasing prevalence of chronic diseases are expected to drive the global implantable infusion pump market in the coming years. At a compound annual growth rate (CAGR) of 6.9% from 2022 to 2032, the global market for implantable infusion pumps is expected to grow from USD 2.9 billion in 2021 to USD 6.0 billion by 2032. The shift to smarter, more advanced pumps that can monitor and collect data in real time is one of the biggest trends in the implantable infusion pump market. These devices can help improve patient outcomes by providing healthcare providers with more accurate and timely data about patient conditions and treatment plans. The use of portable infusion pumps increased the delivery of health care services at home and increased emphasis on patient safety and infection control.
Implantable Infusion Pump Market Share
Since the market for implantable infusion pumps is constantly changing and many different companies manufacture and sell these devices, it is difficult to give an accurate market share. Medtronic, Johnson & Johnson, and Roche are some of the biggest players on the market, but there are also many smaller companies that only make implantable infusion pumps.
In the market for implantable infusion pumps, Medtronic is generally considered to be one of the leaders in terms of market share. The company sells a wide range of infusion pump products for many different purposes, such as treating diabetes, cancer, and pain. With its strong presence in the hospital and home care markets, Johnson & Johnson is also a major player in this market with products widely used in a variety of clinical settings and known for their durability and reliability.
In general, there are many companies competing in the market for implantable infusion pumps, each offering a diverse range of products and services. The market shares of these players are likely to continue to change in the coming years as new technologies and products are developed and launched.
Implantable Infusion Pump Key Drivers:
Several factors are driving the growth of the implantable infusion pump market:
- Increasing emphasis on infection prevention and patient safety: The demand for implantable infusion pumps is expected to be driven by growing concerns about patient safety and infection control, as these devices help reduce the risk of infection and other complications associated with traditional intravenous (IV) therapy.
- Increasing the demand for minimally invasive treatments: Increasing demand for minimally invasive treatments such as those provided by implantable infusion pumps is expected to drive market growth.
- Increasing geriatric population: Aging population is one of the major drivers of the implantable infusion pump market. The need for implantable infusion pumps increases as people age, as they are more likely to develop chronic conditions that require long-term medication.
- Increasing adoption of wearable infusion pumps: Portable infusion pumps are rapidly gaining popularity due to increased patient mobility and freedom of movement.
- Increasing prevalence of chronic diseases: One of the major drivers for the implantable infusion pump market is the increasing prevalence of chronic diseases that require long-term medication, such as cancer, diabetes, and neurological disorders. These devices improve the lives of patients and ensure safe and effective drug delivery.
- Reimbursement policies: Patients now have easier access to these devices, resulting in increased use and adoption, fueled by favorable reimbursement policies from public and private insurance providers.
- Rising Demand for Home Healthcare: In light of the rising demand for home healthcare services, patients are looking for methods of managing their medical conditions that are both effective and dependable. Patients can now receive medication at home safely and conveniently using implantable infusion pumps, reducing the need for hospitalization.
- Technological Advancements: Implantable infusion pumps have become more sophisticated as a result of the advancement of cutting-edge technologies like miniaturization and wireless communication which can monitor and collect data in real-time with improved accuracy, user-friendliness, and patient safety.
Implantable Infusion Pump Market Segmentation:
The global market for implantable infusion pumps can be segmented in many ways, including product type, indication, end-user, and geography.
- By product type: Implantable continuous infusion pumps, Implantable intermittent infusion pumps
- By indication: Chronic pain management, Cancer, Diabetes, Others (Gastrointestinal disorders, cardiovascular disorders, and neurological disorders)
- By end-user: Hospitals, Home Healthcare
- By geography: North America, Europe, Asia-Pacific, Rest of the world (ROW)
Implantable Infusion Pump Market Regional Synopsis
North America is currently the largest market for implantable infusion pumps due to factors such as early adoption of new technologies, strong healthcare infrastructure, and high prevalence of chronic diseases. Growing demand for minimally invasive treatment options and the increasing prevalence of chronic diseases are the two drivers for continued market expansion in this region. The market for implantable infusion pumps in Europe is also expected to witness strong growth in the coming years due to factors such as the adoption of advanced smart infusion pumps and the increasing prevalence of chronic diseases.
The Asia Pacific market is expected to grow by approximately 10% between 2020 and 2025 owing to the region's large and growing population, rising prevalence of chronic diseases, and improved healthcare infrastructure. The rest of the world (ROW) implantable infusion pump market is expected to grow at a moderate pace with a CAGR of approximately 7% during the period 2020-2025.
Implantable infusion pump market share and manufacturer in Japan
The market for implantable infusion pumps in Japan is relatively small compared to other regions, but it is growing rapidly. The Japanese market was valued at USD 99.3 million in 2020 and is expected to reach USD 138.7 million in 2027 at a CAGR of 4.6% during the forecast period (2021-2027). In the Japanese implantable infusion pump market, Medtronic is generally considered a major player. The company sells a wide range of infusion pump products for many different purposes, such as diabetes, cancer, and pain management. Other key players in the implantable infusion pump market in Japan include Fresenius SE & Co. KGaA, Johnson & Johnson B. Braun Melsungen AG, and Smiths Medical Japan Co., Ltd. These companies dominate the market and continuously invest in research and development to bring innovative products to market.
Implantable Infusion Pump Market Challenges:
There are several challenges facing the implantable infusion pump market.
- High prices: Implantable infusion pumps can be prohibitively expensive, making them out of reach for some patients.
- Reimbursement issues: Implantable infusion pumps may be reimbursed in a variety of ways and in different countries, depending on the healthcare system. Patients and medical professionals alike may face difficulties as a result.
- Limited pool of patients: Because these devices are typically only used for specific indications like diabetes, cancer, and chronic pain, the pool of patients who are eligible for implantable infusion pumps is relatively small, restricting the market as a result.
- Problems with the technology: Patients and healthcare professionals may face difficulties as a result of implantable infusion pumps' potential for technical difficulties and malfunctions.
- Infection risk: Because they are inserted into the body, implantable infusion pumps carry an infection risk. Patients may be concerned about this, which may prevent them from using these devices.
- Competition from other treatment options: For conditions like diabetes, cancer, and chronic pain, several other options could compete with implantable infusion pumps. The market's businesses may face difficulties as a result.
Implantable Infusion Pump Market Key Players
Many different companies manufacture and sell implantable infusion pumps, and the market is highly competitive. Some of the key players in the market include:
- B. Braun Melsungen AG: B. Braun Melsungen is a German pharmaceutical and medical device company that manufactures a wide range of implantable infusion pumps for various medical applications such as parenteral nutrition, chemotherapy, and pain management.
- Baxter International Inc.: Baxter International is a global healthcare company that manufactures implantable infusion pumps known for their precision, safety, and ease of use in a variety of medical fields, including chemotherapy and pain management.
- Fresenius SE & Co. KGaA: German healthcare company Fresenius manufactures a wide range of implantable infusion pumps used in a variety of medical procedures, including parenteral nutrition, chemotherapy, and pain management. The company's products are renowned for their safety, accuracy, and reliability.
- Johnson & Johnson: Johnson & Johnson is a major player in the market for implantable infusion pumps and a global healthcare company. The company's infusion pump products are widely used in a variety of clinical settings and are known for their durability and reliability.
- Medtronic: Medtronic is a major player in the implantable infusion pump market and a global leader in medical technology. Diabetes (insulin delivery), cancer, and pain management are just a few of the conditions that can be treated with the company's line of infusion pumps.
- Roche: Global healthcare company Roche dominates the market for implantable infusion pumps. The company offers a wide range of infusion pump products designed for use in a variety of clinical settings.