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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Smart Implantable Pumps Market: By Product Type, By Application, By End User, and Region Forecast 2019-2030
Smart Implantable Pumps Market: By Product Type, By Application, By End User, and Region Forecast 2019-2030
Smart Implantable Pumps Market size was valued at US$ 1600 million in 2023 and is expected to reach a value of US$ 2821 million by 2030, growing at a CAGR of 9.3% from 2024 - 2030 owing to 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 setup and the rising number of patient populations with chronic pain and other chronic diseases are expected to boost the growth of the market. For instance, in the U.S., around 20% to 30% of the population experiences chronic or recurring pain. Moreover, the 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. The report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition.
Study Period
2024-2030Base Year
2023CAGR
9.3%Largest Market
Asia PacificFastest Growing Market
North America
The increasing aging population, specifically in developed countries such as the United States, Japan, and most of the Western Europe. Developed economies see high percent of aging compared to the emerging economies. This is indorsed to developed health care organization, promising reimbursement policies, and innovative health care facilities in developed economies. Furthermore, the heart diseases have been increasing across the globe from the past many years. For instance, the prevalence of heart failure has been increased over 5.8 million in the United States, and over 23 million across the globe.
North America and Europe both accounted major shares in the global market and is expected to grow with the highest and fastest growth rate and is anticipated to grow with significant CAGR 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.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 1600 million |
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Market Size in 2030 |
US$ 2821 million |
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Market CAGR |
9.3% |
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By Product Type |
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By Application |
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By End User |
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The smart implantable pumps market size was valued at US$ 1600 million in 2023 and is projected to reach US$ 2821 million by 2030, at a CAGR of 9.3% from 2024-2030
The smart implantable pumps market key players are: Medtronic Cognos Therapeutics, Inc. Tricumed Medizintechnik Intarcia Therapeutics, Inc. Abbott Flowonix Medical Berlin Heart
The smart implantable pumps market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.