Global Implantable Infusion Pumps Market - 2022-2029

Market Overview

The Global Implantable Infusion Pumps Market was valued at US$ 14,893 million in 2021 and is estimated to reach US$ 22,645 million by 2029, growing at a CAGR of 5.7 during the forecast period (2022-2029).

The implantable infusion pump is a device used to deliver fluids and medications into a particular part of a patient's body with the help of a flexible and thin catheter in a controlled manner. Healthcare practitioners may use them for various treatments such as muscle spasticity, diabetes and chronic pain.

Market Dynamics

The global implantable infusion pumps market growth is driven by several factors, including the rising prevalence of chronic diseases such as cancer and diabetes, significant technological advancements, and various new product launches.

The increasing prevalence of chronic diseases and rising technological advancements are expected to drive market growth.

The major drivers of increasing market growth are the high prevalence of cancer and chronic diseases such as diabetes, especially in geriatric patients and increasing technological advancements.

According to National Centre for Health, in 2022, cancer was the second leading cause of mortality worldwide, with around 1,918,030 new cases registered 2022. Cancer was responsible for 609,360 deaths all over the world. Moreover, as per WHO, the number of new cases is expected to rise by around 70% by 2030. The administration of a variety of drugs is efficient with the help of the latest implantable infusion pumps, and there is a rise in the adoption of these infusion pumps by cancer patients globally.

Even chronic diseases require implantable infusion pumps; According to a study by the University of California, around 5 million people worldwide are affected by end-stage renal disease (ESRD). The number of patients diagnosed with the disease is expected to increase at a rate of 5-7% annually. According to the International Diabetes Federation, approximately 463 million adults aged 20-79 have diabetes worldwide. This number is expected to increase and reach up to 700 million by 2045.

The rising initiatives of several organizations, associations, and institutes to improve the implantable infusion pump and address safety concerns shall stimulate market growth. For instance, the U.S. Food and Drug Administration (FDA) launched an improvement initiative to address implantable infusion pump safety problems and foster the development of safer, more effective infusion pumps across the industry. The FDA established the additional requirements for implantable infusion pump manufacturers to identify the design deficiencies and correct them before they lead to safety; they provide additional design and engineering information as part of its premarket submissions and conduct additional testing of its devices. The FDA collaborated with institutes, foreign regulatory bodies, and manufacturers to facilitate the development of safer and more effective infusion pumps. The FDA is creating awareness regarding mitigating the risks associated with using existing infusion pumps among hospital staff, administrators, and home users.

Patient safety concern and the improper infusion is expected to hamper the market growth.

The factors concerning patient safety, especially in magnetic resonance surroundings, frequent recalls of products, stringent regulations and improper infusion leading to severe consequences will hamper the market's growth. A study published in Dec 2019, titled "Risk of Medication Errors with Infusion Pumps," reported a total of 1,004 events related to the use of infusion pumps and medication errors that occurred in 132 hospitals in Pennsylvania. 22% of these incidents were related to high-alert medication. Most events were less harmful and didn't lead to serious harm or death.

Segment Analysis

Piston type infusion therapy segment is expected to hold the largest market share in the global implantable infusion pumps market.

The piston-type infusion therapy segment is expected to have a positive market share due to its rising uptake for drug delivery into the body. Piston-driven infusion pumps work similarly to automobile pistons. A minute amount of medicine is released when the piston goes forward. Piston-type pumps need IV tubing specially developed for the device. Generally, such kind of tubes contains a cartridge with a plunger. These devices for intravenous infusion are very efficient as well as accurate. It is highly recommended for products such as fragile fluids.

The increasing cancer incidence is the main factor in the market's growth. There is an increase in companies developing implantable infusion pumps for infusions. Medtronic, Smith's Medical, Epic Medical, and Boston Scientific Corporation are the major players in implantable infusion pumps for drug infusion. For instance, in April 2021, B. Braun launched Space plus, a novel infusion pump combined with Online Suite plus, a kind of ecosystem that provides various benefits, including connectivity, data management, cloud-based applications, excellent therapy, and update flexibility.

Geographical Analysis

North America holds the largest market share in the global implantable infusion pumps market.

North America is the leading market for implantable infusion pumps and accounts for a major revenue share. According to the U.S. Department of Health and Human Services, national expenditures for cancer treatment in the U.S. were nearly US$ 125 billion in 2010 and US$ 156 billion by 2020. The reasons are improved medical facilities, greatly developed healthcare infrastructure, rising cancer, cardiovascular, end-stage renal diseases and the growing geriatric population.

Various technological advancements by key players are increasing the market. For instance, Epic Medical Limited's SMARTeZ Pump allows the medication to be delivered to the patient by positive pressure applied by the elastomeric membrane. It comprises 2 layers of silicone membranes for improving the flow accuracy and reducing the residual volume when the infusion is complete. Moreover, the Mobile Apps are available along with this Elastomeric Infusion Pump to improve patient-user outcomes in alternate sites and at home VSCAN and Chemo C.S. App. VSCAN provides an assessment of the volume of medication remaining in the pump. SMARTeZ Chemo C.S. App helps eliminate human errors and improves patient safety with its onboard drug library.

Competitive Landscape

The global digital implantable infusion pump market is highly competitive with several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Some major key players in the global implantable infusion pumps market are Medtronic PLC, Codman and Shurtleff, I-Flow Corp/Halyard Health, Flowonix Medical, Tricumed Medizintechnik, Intera Oncology, Tandem Diabetes Care Inc., Smith's Medical, B. Braun, Terumo Corporation, Ambu Inc.

The key companies are focusing on key strategies such as collaboration, acquisitions, and product launches which are boosting the growth of the market globally. For instance,

• In Jan 2022, Smiths Medical got acquired by ICU Medical Inc from Smiths Group. Ambulatory infusion devices and vascular access are the medical business of Smiths that, combined with ICU's present business, can make it a leading company in infusion therapy.

• In Apr 2021, Smiths Medical, a medical device company, announced integrating its infusion management system- PharmGuard, by Parkview Health, with their health record system (electronic) to form interoperability that is bi-directional in all the hospitals. This integration will benefit smart pump programming with auto-documentation.

• In Nov 2020, Ambu Inc. announced its contract with Intalere, which will work for pain care management solutions. Intalere is going to receive an Ambu ACTion TM block pain pump.

• In February 2020, LTR Medical entered into an exclusive distribution agreement with Woo Young Medical to distribute their new generation of elastomeric infusion technologies into the Australian market.

Key Companies to Watch

Medtronic PLC:

Overview: Medtronic plc is a medical device company that operates in the U.S. and manufactures and markets medical devices such as infusion pumps, catheters, stents, insulin pens, and glucose monitoring systems, with headquarters in Minneapolis, the U.S. It is operational in around 140 countries, and 90,000 people are employed there.

Product Portfolio:

SynchroMed II Implantable Pumps: This device is a programmable infusion pump that, with an implanted catheter, provides drugs in intrathecal space. It is used for chronic pain management and can be controlled using an approach known as Control workflow. This approach is specially developed for giving pain relief and removing systemic opioids.

Key Developments: In May 2022, Medtronic plc, a healthcare technology company, announced its approval of Onyx Frontier, a drug-eluting stent by the United States Food and Drug Administration. It is the latest innovation in the family of Resolute DES. It is an improved delivery system that provides better performance and deliverability.

The global implantable infusion pumps market report would provide access to an approx. 45+ market data table, 40+ figures and 180 pages.