Smart Implantable Pumps Market: myPTM by Medtronic Receives FDA Approval to Improve the Patient’s Quality of Life

(The Express Wire via Comtex)

As per the American Heart Association, around 46% of the adults in the U.S. are likely to have hypertension. Center from Diseases and Prevention (CDC) states that stroke kills around 1,40,000 people in the U.S. each year. The rising prevalence of heart failure and hypertension is expected to drive the global “smart implantable pumps” market. These pumps are one of the most advanced drug delivery systems implanted beneath the skin of patients. Smart implantable pump technology administers steady drug dosage in patients suffering from chronic diseases. Favorable healthcare reimbursement policies by governments and increasing healthcare expenses are factors responsible for smart implantable pumps market growth. With the introduction of wireless technology, the demand for smart implantable pumps is likely to increase. Patients and clinicians can easily monitor and control their implants wirelessly with the help of smartphones.

The report covers:

  • Global Smart Implantable Pumps Market trends, with detailed analysis on consumer trends and manufacturer trends.
  • Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
  • Key areas of investments identifying market opportunities and challenges in forecast timeframe.
  • Competitive analysis of the industry players along with the overview on strategic management.
  • Comprehensive company profiles of the major industry players.

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Leading Players operating in the Smart Implantable Pumps Market are:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

  • Abbott
  • Intarcia Therapeutics, Inc.
  • Medtronic
  • Cognos Therapeutics, Inc

Rising Emphasis on Data Logging to Stoke Demand for Pumps in North America

From a geographical standpoint, North America is projected to lead the global smart implantable pumps market through the forecast years. The increasing prevalence of cardiovascular disorders in the U.S. and increasing cases of cancer are likely to create growth opportunities for the market during the forecast years. This, coupled with the rising prevalence of diabetes in the U.S., is expected to boost the market, thereby fuelling demand for smart implantable pump insulin. The adoption of smart implantable pumps is expected to increase the rising emphasis on patient monitoring and data logging. Following North America, Europe held the second-largest share in the market in 2018.

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Medtronic’s SynchroMed II myPTM Receives FDA Approval to Help Patients Manage Their Pain

Companies are planning to establish their presence in the market and offer a wide range of products across the world. For instance, Medtronic announced the launch of a new personal manager therapy called SynchroMed II myPTM Personal Therapy Manager for patients suffering from chronic pain. The product received FDA approval in October 2018. This implantable drug pump offers pain relief with lesser side effects. This can help patients to eliminate the use of oral opioids.

Smart Implantable Pumps Market Segmentation:

By Type

  • Micro Pumps
  • Perfusion Pumps

By Application

  • Cardiovascular
  • Pain Control
  • Others

By End User

  • Hospitals
  • Ambulatory Surgery Centers
  • Others

By Geography

  • North America (USA, Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)

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Report Focus:

  • Extensive product offerings
  • Customer research services
  • Robust research methodology
  • Comprehensive reports
  • Latest technological developments
  • Value chain analysis
  • Potential Smart Implantable Pumps Market opportunities
  • Growth dynamics
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  • Post-sales support
  • Regular report updates

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  • Comprehensive analysis of the Smart Implantable Pumps Market growth drivers, obstacles, opportunities, and other related challenges.
  • Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
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  • Identifies all the possible segments present in the market to aid organizations in strategic business planning.

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