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.
Competitive Landscape:
Some of the Ventricular Infusion Pump Market players are:
- Abbott
- Bioventrix Inc
- Xeltis AG
- Neochord Inc
- CryoLife Inc
- Edwards Lifesciences Corp.
- CardioKinetics Inc
- On-X Life Technologies Inc
- valtec
- Medtronic
Market Segmentation:
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.
Based On Application, The Percutaneous Ventricular Restoration Segment Is Accounted As A Significant Contributor In The Ventricular Infusion Pump Market
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 To Witness Growth At A Rapid Rate
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.
In The Region, The North America Ventricular Infusion Pump Market Holds A Significant Revenue Share
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.
Ventricular Infusion Pump Market Report Scope:
|
Report Attribute |
Specifications |
|
Growth rate CAGR |
CAGR of 6.41 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
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 |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
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 |
|
Competitive Landscape |
Abbott, Bioventrix Inc, Xeltis AG, Neochord Inc, CryoLife Inc, Edwards Lifesciences Corp., CardioKinetics Inc, On-X Life Technologies Inc, valtec, Medtronic. |
|
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. |
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