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The global analgesic infusion pumps market size was USD 1.17 Billion in 2022 and is expected to reach USD 1.72 Billion in 2032 growing at a CAGR of 4.4%.
NEW YORK, NEW YORK, UNITED STATES, April 23, 2023 /einpresswire.com / -- The size for analgesic infusion pumps market on a global scale was USD 1.17 Billion in 2022, with an estimated CAGR of 4.4% during the forecast period, and is projected to reach USD 1.72 Billion in 2032. The market's revenue growth is being driven by various factors, including the increasing prevalence of chronic pain among the elderly population, the growing demand for pain management during surgical procedures, the rise in the number of surgeries worldwide, the surging popularity of ambulatory infusion pumps, and the escalating prevalence of cancer.
The geriatric population is experiencing chronic pain at a higher rate, leading to a greater need for long-term analgesic therapy and thus driving the demand for analgesic infusion pumps, which is expected to fuel the market's revenue growth during the forecast period. Moreover, analgesic infusion pumps are gaining popularity in surgical operations as they can provide targeted pain management while reducing side effects, leading to an increased demand for these pumps in post-operative pain management.
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As the number of surgical procedures performed worldwide continues to rise, there is an increasing need for efficient pain management during such procedures, which is also driving the demand for analgesic infusion pumps. Additionally, the market for these pumps is expected to see growth due to the rising popularity of ambulatory infusion pumps, which are lightweight and portable and provide continuous infusion therapy for patients who do not wish to be confined to a hospital bed.
Finally, the prevalence of chronic pain among cancer patients is another significant factor driving the revenue growth of the analgesic infusion pumps market, as these patients require ongoing pain management. Consequently, the oncology market is experiencing high demand for these pumps, which is expected to continue to drive the market's revenue growth during the forecast period.
Segments Covered in the Report –
This report analyzes the global analgesic infusion pumps market, providing revenue growth forecasts at a global, regional, and country level from 2019 to 2032. The report segments the market based on product type, application, and region.
The global analgesic infusion pumps market is categorized into four segments based on product type: patient-controlled analgesia pumps, ambulatory infusion pumps, disposable infusion pumps, and others. The report examines market trends in each of these segments and provides historical data and revenue growth forecasts for the forecast period.
The report also categorizes the market into four segments based on application: cancer pain, labor pain, postoperative pain, and others. The report analyzes market trends in each of these segments and provides historical data and revenue growth forecasts for the forecast period.
The regional scope of the report covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report provides a detailed analysis of market trends in each of these regions and revenue growth forecasts at a country level.
The report includes revenue growth forecasts for the following countries: the U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, and Turkey. The report provides historical data and analyzes market trends in each of these countries.
Overall, this report offers a comprehensive analysis of the global analgesic infusion pumps market, providing insights into market trends and revenue growth forecasts at a global, regional, and country level for the period from 2019 to 2032.
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Strategic development:
oThe segment that generated the most revenue in 2022 was the PCA pumps segment. PCA pumps are widely used in hospitals to assist patients in managing their pain. Patients are allowed to self-administer opioids, which can improve pain management and reduce medical costs. Due to their simplicity and ease of use, healthcare practitioners prefer PCA pumps, which is expected to drive demand and revenue growth of the segment.
oThe cancer pain segment had the highest revenue share in 2022. Analgesic infusion pumps are often used to treat cancer pain, which is a common symptom of the disease. With increasing cancer rates worldwide, the demand for analgesic infusion pumps for cancer pain treatment is expected to rise. Additionally, the availability of various analgesic drugs, including opioids and non-opioids, is expected to fuel revenue growth in this segment.
oNorth America held the largest revenue share in the global analgesic infusion pumps market in 2022, largely due to the increasing prevalence of chronic diseases and an aging population. The region's market growth is also driven by well-established healthcare infrastructure and favorable reimbursement policies. Within North America, the United States held the largest revenue share, driven by a high prevalence of chronic diseases and a growing elderly population.
oSome of the major players in the global analgesic infusion pumps market include Baxter International Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Halyard Health, Hospira Inc. (Pfizer Inc.), Medtronic, Smiths Medical (Smiths Group plc), Terumo Corporation, and Zyno Medical.
Competitive Landscape:
The global analgesic infusion pumps market is anticipated to grow significantly in the coming years, with several major players vying for market share. These companies include Baxter International Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Halyard Health, Hospira Inc. (Pfizer Inc.), Medtronic, Smiths Medical (Smiths Group plc), Terumo Corporation, and Zyno Medical.
In order to improve patient outcomes and reduce costs, these companies are continuously developing new products and technologies. They are also engaging in strategic alliances and acquisitions to expand their product portfolios and increase their market presence. These efforts are expected to drive growth in the analgesic infusion pumps market.
The competition in the market is intense due to the presence of several established players. However, the market also presents opportunities for new entrants to introduce innovative products and technologies to cater to the growing demand for analgesic infusion pumps. The overall outlook for the analgesic infusion pumps market is positive, with increasing demand for pain management solutions and the rising prevalence of chronic diseases driving market growth.
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