The Global Ventricular Infusion Pump Market Size is predicted to grow at an 6.41% CAGR during the forecast period for 2023-2031.
Fluids, medications, or nutrients can be delivered to a patient's circulatory system using an infusion pump. It is most commonly administered intravenously, but subcutaneous, arterial, and epidural infusions are sometimes employed. Infusion pumps can give fluids in ways that would be prohibitively expensive or unreliable if done by nursing staff manually.
The market is gaining substantial traction after the introduction of insulin pumps by prominent industry participants such as Medtronic, Insulet Corporation, and others. The market is expected to increase rapidly due to significant factors such as rising chronic illness prevalence, advancements in drug delivery technology, and increased use of these approaches in emerging markets.
However, owing to the impact of the COVID-19 epidemic and the uncertainty surrounding its longevity, the industry has seen a significant increase in its growth rate. This is mainly due to an increase in COVID-19 testing in 2020. However, there was a decrease in production due to the COVID-19 epidemic due to a lack of labor and supply chain interruptions.
The ventricular infusion pump market is segmented based on application and end-user. The application segment includes percutaneous ventricular restoration and surgical ventricular restoration. By end-user, the market is segmented into specialty clinics, hospitals, and ambulatory surgical centers.
The percutaneous ventricular restoration category is expected to hold a major share of the global Ventricular Infusion Pump Market in 2022. The segment is expected to maintain its supremacy by expanding at a speedy rate during the projection period. This is due to an increase in the number of type 1 diabetic patients worldwide and the launch of promising technology in the insulin pump field. Growing pain treatment applications for PCA pumps are expected to drive global product demand in the future years.
The hospital segment is projected to grow at a rapid rate in the global Ventricular Infusion Pump Market due to hospitals' high procurement power of expensive infusion systems, the huge patient pool visiting these facilities, and the readiness of skilled staff to run the pump. However, due to the increased implementation of ambulatory pumps and the preference for the site of care management to reduce cost burden, the home care settings sector is predicted to grow at the fastest CAGR over the projection period. Furthermore, rising government measures to reduce total healthcare costs associated with prolonged hospitalization are projected to promote the expanding demand for homecare infusion systems.
The North America Ventricular Infusion Pump Market is expected to register the highest market share in terms of revenue in the near future. The region's market is characterized by increasing diabetes diagnosis and treatment rates, as well as high use of ambulatory pumps and favorable reimbursement policies. The improvement of medical device technology in the North American region is driving the region's growth.
Moreover, Europe has the second-largest market share. The European Commission's enormous healthcare spending and expansion in the frequency of chronic diseases in this region are expected to fuel demand for these pumps in Europe. The market in emerging areas such as Asia Pacific, Latin America, the Middle East and Africa is expected to increase quickly over the forecast period. The elevation in the prevalence of chronic diseases such as diabetes and cancer, developing healthcare infrastructure, rising GDP, disposable income, and increasing awareness regarding the availability of advanced therapies in the Asia Pacific region are some of the factors expected to drive market growth in this region in the coming years.
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Report Attribute |
Specifications |
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Growth rate CAGR |
CAGR of 6.41 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type, Pet Type, Health Condition, And Distribution Channel |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Abbott, Bioventrix Inc, Xeltis AG, Neochord Inc, CryoLife Inc, Edwards Lifesciences Corp., CardioKinetics Inc, On-X Life Technologies Inc, valtec, Medtronic. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Ventricular Infusion Pump Market By Application-
Ventricular Infusion Pump Market By End-User-
Ventricular Infusion Pump Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
