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Smart implantable pumps are an advanced drug delivery system or devices that are implanted beneath the skin. This technology is used for administration of steady dose of drugs in patients suffering from chronic disease such as cancer, diabetes, pain, heart and brain related problem. Smart implantable pumps consist of a reservoir which is connected via catheter under the skin.
These pumps are programmable due to which the physician is able to adjust the dose and delivery rate of drug to be administered. Reservoir present in the implantable pumps can be refilled depending upon its type such as single-use or multiple-use pumps. Certain benefits offered by the smart implantable pumps are reduction in medication errors and decrease in the pain related to patient injury or their disease condition.
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The global smart implantable pumps market is expected to increase by the end of 2026 owing to factors such as increasing prevalence of chronic disease, increasing geriatric population, growing healthcare expenditure and favorable reimbursement policies for smart pumps. Smart implantable pumps have several advantages over conventional drug delivery devices such as target drug delivery, minimal side effects and ease of administration.
These advantages are attributed to increase the patient’s compliance thus resulting in increasing adoption of smart implantable pumps during the forecast period. However on an average the cost of single-use smart implantable pumps is around US $ 3,200. As a result, the high cost of smart implantable pumps hampers the global smart implantable pumps market growth during the forecast period.
The major companies in the global smart implantable pumps market report include Abbott, Intarcia Therapeutics, Inc., Medtronic, FLOWONIX MEDICAL INC., Cognos Therapeutics, Inc. and other players.
· Micro Pumps
· Perfusion Pumps
· Pain Control
By End User
· Ambulatory Surgery Centers
· North America (USA, Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
As per the current smart implantable implants market trends, perfusion pumps among the types are anticipated to register a higher market share in the global smart implantable pumps market owing to improved efficacy offered by the type.
The global smart implantable pumps market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is anticipated to dominate the global smart implantable pumps market due to increasing prevalence of cardiovascular disease in U.S, rising cases of cancer and diabetes and increasing emphasis on data logging and patient monitoring which has resulted in growing adoption of smart implantable pumps. Europe accounted for second largest share in the global smart implantable pumps market in 2018. Asia Pacific is expected to register a comparatively higher CAGR by the end of forecast period due to rising aging population and chronic diseases, increasing healthcare expenditure and growing awareness about technologically advanced devices in this region. Latin America and Middle East & Africa are projected to register a moderate market growth by the end of 2026.
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