Smart Implantable Pumps Market Size (2024 - 2029)

Smart Implantable Pumps Market Analysis

The Smart Implantable Pumps Market size is estimated at USD 2.46 billion in 2024, and is expected to reach USD 3.38 billion by 2029, growing at a CAGR of 6.55% during the forecast period (2024-2029).

The smart implantable pumps market is experiencing significant growth owing to major factors such as the growing prevalence of chronic diseases such as spasticity and chronic pain, the growing geriatric population, growing healthcare consciousness, rising healthcare expenditure, and favorable reimbursement policies.

Spasticity can be a major symptom of neurological conditions like multiple sclerosis, stroke, and cerebral palsy; spasticity causes muscle stiffness and involuntary muscle contractions, impacting mobility and daily activities. Rising cases of spasticity in recent years are increasing the demand for novel treatment methods, such as smart implantable pumps, thereby propelling the market’s growth.

For instance, as per an article published by Physicians Group LLC in December 2023, around 12.0 million people worldwide suffered from spasticity in that particular year. The same source also stated that novel physical therapy approaches, including electronic implantable pumps and targeted drug delivery systems, showcased high efficiency in enhancing motor function and reducing patient spasticity.

According to a report published by Merz Therapeutics in May 2024, after spinal cord injury, about 65% to 74% of patients were reported to have spasticity, while 35% to 45% of patients had troublesome or problematic spasticity in 2023. Similarly, in the United States, there is a growing burden of traumatic brain injury caused by road accidents or workplace-related injuries, which can lead to a rise in cases of spasticity or other chronic pains.

As individuals age, their bodies become more susceptible to chronic diseases such as cardiovascular diseases, diabetes, and neurological diseases, creating a demand for implantable pumps and boosting the market's growth. For instance, according to a report published by the World Health Organization in March 2024, the geriatric population worldwide is poised to increase to 1.4 billion by 2030 and 2.1 billion by 2050. This increase is occurring at an unprecedented pace and would accelerate in the coming decades, particularly in developing countries. This rising population is expected to increase the demand for smart implantable pumps, thereby propelling the market's growth.

In conclusion, factors such as increasing incidence of chronic diseases, rising geriatric population, and healthcare awareness are expected to propel the market's growth. However, stringent regulatory frameworks and product recalls are expected to restrain the market's growth.

Smart Implantable Pumps Industry Segmentation

Smart implantable pumps enable the monitoring of drug delivery rate exteriorly, which is beyond the abilities of conservative controlled release preparations. Implantable pumps consist of a reservoir placed subcutaneously and are connected through a catheter to deliver the drug into the desired body part. These pumps are used to deliver anti-spasmodic, chemotherapeutic agents and opioid drugs. The Smart Implantable Pumps market is segmented By pump type, application, end-user, and geography. The pump type segment is further fragmented into perfusion pumps and micro pumps. The application segment is further divided into pain, spasticity, cardiovascular, and others. The end user segment is further bifurcated into hospitals, ambulatory surgical centers, and others). The geography is further segmented into North America, Asia-Pacific, Europe, the Middle East and Africa, and South America. The report also elucidates the projected market sizes and trends for 17 different countries across major regions globally. It further offers the value (in USD) for the above segments.