Wilmington, Delaware, United States, Transparency Market Research Inc.: The global analgesic infusion pumps market is expected to expand at a healthy rate from 2021 to 2031.
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global analgesic infusion pumps market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). The growing elderly population and the prevalence of chronic conditions such as heart failure, hypertension, and others are projected to drive the growth of the global analgesic infusion pumps market during the forecast period. Moreover, technological improvements and increased awareness about the use of analgesic infusion pumps are expected to propel the global analgesic infusion pumps market.
Furthermore, the growing acceptance of infusion systems like PCA pumps and implantable pumps are likely to support the global analgesic infusion pumps market during the forecast period.
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Analgesic Infusion Pumps Market - Competitive Landscape
Prominent players active in the global analgesic infusion pumps market are Baxter International Inc., B. Braun Melsungen AG, Terumo Corporation, Fresenius Kabi AG, Animas Corporation, Medtronic Inc., CareFusion Corporation, Hospira, Inc., KD Scientific, Inc., and Smiths Medical.
Due to the existence of both global and local competitors, the market is highly competitive. Market participants are increasingly working on developing strategic partnerships with other vendors to extend their product portfolios, which increases the level of competition among market players. Moreover, in order to get a competitive edge over their competitors, vendors in the global analgesic infusion pumps market are investing heavily in R&D in order to create innovative products and upgrade their existing products.
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Analgesic Infusion Pumps Market - Trends and Opportunities
The global analgesic infusion pumps market is projected to grow due to the rising demand for analgesic drug treatments to relieve pain in chronic illnesses. Failed back syndrome, complex pain syndrome, myocardial infarction, and post-operative pain are examples of chronic conditions. Moreover, analgesic infusion pumps are commonly used to treat neurological illnesses such as spinal cord injury and cerebral palsy. The low cost of analgesic infusion pumps and increased awareness are likely to drive the growth of the worldwide analgesic infusion pumps market.
Furthermore, governments have launched a number of efforts to encourage home healthcare therapies. The growing pressure on hospitals as a result of rising hospital admissions has become a matter of concern for healthcare practitioners worldwide.
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Governments around the world are highlighting the importance of decreasing hospital admissions by promoting home medication therapy. Government efforts to promote home treatment and increased awareness of infusion pump systems are major aspects projected to propel the growth of the worldwide analgesic infusion pumps market.
Analgesic Infusion Pumps Market - Regional Landscape
The North America analgesic infusion pumps market is anticipated to expand during the forecast period. Well-established healthcare infrastructure, availability of reimbursement policies, increased acceptance rate of technically advanced treatment tools, and significant healthcare spending is expected to boost the analgesic infusion pumps market in North America. Moreover, the United States and Canada are projected to make considerable contributions to the analgesic infusion pumps market in North America.
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The analgesic infusion pumps market in Asia Pacific is projected to grow due to rising healthcare spending, constantly developing healthcare infrastructure, and increased government efforts to raise awareness regarding the availability of medical facilities.
Furthermore, the presence of a professional and competent workforce at lower rates than in developed nations and the availability of government funds to establish new manufacturing facilities are some of the factors anticipated to draw global manufacturers to the Asia Pacific analgesic infusion pumps market. Apart from the possibility to increase market share, most of the leading companies in the worldwide analgesic infusion pumps market are projected to establish new manufacturing facilities in the growing economies of Asia Pacific for geographical growth.
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