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The global Patient Controlled Analgesic (PCA) pump market size was USD 2.8 billion in 2022 and is expected to reach USD 4.1 billion in 2032, with CAGR of 4.1%
NEW YORK CITY, NY, UNITED STATES, May 9, 2023 /einpresswire.com / -- The patient controlled analgesic (pca) pump market had a global size of USD 2.8 billion in 2022 and is estimated to grow to USD 4.1 billion in 2032, with a revenue CAGR of 4.1%. The key factors contributing to the market's growth are an increase in chronic pain cases and demand for effective pain management methods. The PCA pump is a medical device that allows patients to self-administer painkillers by pressing a button or trigger. It is commonly used in cancer treatment, post-operative care, and chronic pain issues, reducing the need for medical staff to provide medication and enabling patients to manage their pain better, thus decreasing healthcare expenses and increasing patient satisfaction.
Moreover, the elderly population's growth and the rise in chronic illnesses are anticipated to boost the demand for PCA pumps. According to the World Health Organization (WHO), by 2050, there will be two billion elderly individuals worldwide, leading to an increase in chronic illnesses and conditions. As a result, PCA pumps will become more popular as a pain management method. Additionally, the rising number of surgeries worldwide is also expected to drive the demand for PCA pumps. The increasing prevalence of chronic illnesses and the need for timely treatment are contributing to the rise in surgical procedures. The use of PCA pumps controls post-operative pain, shortens hospital stays, and lowers healthcare costs.
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The incorporation of modern technologies such as Bluetooth, wireless networking, and mobile apps in PCA pumps is also expected to fuel market revenue growth. The integration of these technologies makes it easier for patients to track their pain levels and medication use, and for medical personnel to monitor their progress remotely, reducing the risk of medication errors and improving patient safety.
The healthcare industry's emphasis on patient satisfaction and safety is also expected to drive market revenue growth. The PCA pump's ability to give patients more control over their pain treatment and lower the likelihood of medication errors and reduce the need for medical professionals to provide medication improves patient safety and satisfaction.
However, the market's revenue growth is anticipated to be impeded by the high cost of PCA pumps and the availability of alternative pain treatment methods. PCA pumps are more expensive than other pain relief methods, making them less accessible in low-income countries. Additionally, complementary pain management strategies such as acupuncture, physical therapy, and psychological interventions can also pose a threat to the market's growth.
Segments Covered in the Report –
The Patient Controlled Analgesic (PCA) pump market can be segmented based on product type, application, and end-use.
In terms of product type, the market can be divided into electronic PCA pumps, mechanical PCA pumps, and disposable PCA pumps. From 2019 to 2032, the electronic PCA pumps segment is expected to have the largest revenue share, followed by the mechanical PCA pumps and disposable PCA pumps segments.
In terms of application, the market can be segmented into postoperative pain management, cancer pain management, labor pain management, and others. The postoperative pain management segment is expected to have the highest revenue share in the market during the forecast period, followed by the cancer pain management and labor pain management segments.
In terms of end-use, the market can be segmented into hospitals, ambulatory surgical centers, and others. Hospitals are expected to have the largest revenue share in the market during the forecast period, followed by ambulatory surgical centers and others.
Overall, the electronic PCA pumps segment is anticipated to be the most lucrative, while the postoperative pain management segment is expected to generate the most revenue. Hospitals are expected to be the most significant end-users of PCA pumps.
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Strategic development:
.Several medical device companies have launched patient-controlled analgesic (PCA) pumps in recent years. In 2021, B. Braun Melsungen AG launched its Perfusor® space PCA pump, which is designed to improve patient safety and satisfaction with its accurate medication dosing and intuitive user interface. Smiths Medical, Inc. also launched a PCA pump in 2021 with wireless connectivity, allowing for remote monitoring and adjustment of patient pain management.
.In 2020, Smiths Medical, Inc. launched its CADD®-Solis VIP ambulatory infusion pump, which includes a patient-controlled analgesia feature. This pump was designed to improve patient comfort and safety during post-operative pain management. Baxter International Inc. also launched a PCA feature with its Evo IQ® infusion system in the same year, aimed at improving medication safety and reducing the risk of adverse events.
.In 2019, Fresenius Kabi AG launched its Q Core Medical Sapphire infusion system, which features a patient-controlled analgesia function. The pump was designed to improve patient safety and satisfaction. Avanos Medical also launched a PCA pump in 2019, called the ON-Q* pump, which allows for the selection of a specific infusion rate and has wireless connectivity for remote monitoring and data collection.
.In 2018, Medtronic Plc expanded its product offerings in the spine surgery market by acquiring Israeli medical device company Mazor Robotics, which specializes in robotic-assisted spinal surgery. Medtronic also launched its SynchroMed(TM) II intrathecal drug delivery system for the treatment of chronic pain in the same year, featuring improved battery life and wireless connectivity for remote monitoring and programming.
.In 2017, Pfizer, Inc. acquired California-based biotech company Anacor Pharmaceuticals, Inc., which specializes in developing topical medications for the treatment of skin diseases. B. Braun Medical Inc. also launched its Perfusor® Space PCA infusion pump in the same year, which features advanced safety features such as air bubble detection and occlusion management.
.Lastly, Hospira, Inc., a leading manufacturer of injectable drugs and infusion technologies, including patient-controlled analgesic pumps, was acquired by Pfizer, Inc. in 2015. Overall, the launch of these innovative PCA pumps and related medical devices demonstrates the industry's commitment to improving patient safety, satisfaction, and outcomes.
Competitive Landscape:
The global Patient Controlled Analgesic (PCA) pump market is highly competitive, with several major players dominating the market. These companies are constantly adopting various strategies to maintain their market share and expand their presence globally. Mergers and acquisitions, partnerships, product launches, and collaborations are some of the common strategies being used by these companies to strengthen their position in the market.
Braun Melsungen AG, Smiths Medical, Inc., Baxter International Inc., Fresenius Kabi AG, Medtronic Plc, Pfizer, Inc., Terumo Corporation, Hospira, Inc., Ace Medical Co., Ltd., and Stryker Corporation are some of the prominent companies operating in the global Patient Controlled Analgesic (PCA) pump market.
These companies are focusing on developing innovative and technologically advanced products to cater to the rising demand for efficient and safe pain management solutions. For instance, B. Braun Melsungen AG launched the Perfusor® space PCA pump in 2021, while Smiths Medical, Inc. launched the CADD®-Solis VIP ambulatory infusion pump with a patient-controlled analgesia feature in 2020. These products have been designed to improve patient safety, satisfaction, and comfort, thereby enhancing the overall patient experience.
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With the increasing prevalence of chronic diseases and rising demand for advanced healthcare solutions, the global Patient Controlled Analgesic (PCA) pump market is expected to witness significant growth in the coming years. These major players are likely to continue investing in research and development activities to introduce more innovative products and maintain their dominance in the market.
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