Market Trends of Smart Implantable Pumps Industry
Cardiovascular Segment is Expected to Witness a Significant Growth Over the Forecast Period
Smart implantable pumps, such as cardiac assist devices, drug delivery pumps, and hemodynamic monitoring pumps, offer a minimally invasive and targeted approach to managing various cardiovascular conditions. Major factors such as the rising prevalence of cardiovascular diseases and technological advancements of cardiovascular implantable pumps are expected to propel the growth of the cardiovascular segment during the forecast period.
The high prevalence of cardiovascular diseases is propelling the growth of the cardiovascular implantable pumps segment. For instance, coronary artery disease has risen at a high rate in recent years. As per a report published by the Centers for Disease Control and Prevention in May 2023, coronary heart disease is the most highly occurring form of heart disease. Approximately 5% of adults aged 20 and older, or 1 in 20, were affected by Coronary Artery Disease (CAD) in 2022.
According to the same source, about 850,000 people in the United States have a heart attack every year. Among these, 605,000 have had their first heart attack, and over 200,000 people have already had one. This presents a substantial market opportunity for implantable pumps, as the demand for these pumps used in treatment procedures such as heart failure management, pulmonary hypertension, and chronic angina relief and monitoring contributes to the growth of the cardiovascular implantable pumps segment.
Major players in the market are also working on introducing novel technologies to address the rising cases of cardiovascular diseases. For instance, in April 2022, Abiomed informed that the Impella Bridge-to-Recovery (BTR) was implanted as part of the heart pump’s US Food and Drug Administration (FDA) Early Feasibility Study (EFS). The implant was done by Duc Thinh Pham, MD, and Jane Wilcox, MD, at the Northwestern Medicine Bluhm Cardiovascular Institute.
In conclusion, the rising cases of cardiovascular diseases and recent technological advancements in the market are expected to propel the segment's growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to grow rapidly in the smart implantable pumps market due to its well-established healthcare infrastructure, better regulatory framework, government support, and major player presence. In addition, the increasing number of chronic diseases and rising demand for novel treatment methods are expected to boost the market's growth in the country.
The prevalence of diabetes has increased dramatically in the region in recent years. For instance, according to a report published by the National Institute of Diabetes and Digestive and Kidney Diseases in January 2024, in 2022, 38.4 million people of all ages had diabetes (11.6% of the population) in the country. Among these, 38.1 million were adults ages 18 years or older. Moreover, over 29.7 million people of all ages have been diagnosed with diabetes (8.9% of the population).
According to the same source, over 97.6 million adults in the United States were diagnosed with prediabetes, representing approximately one-third of the total adult population. The significant prevalence of diabetes and prediabetes in the population is expected to drive growth in the implantable pumps market due to increased demand for monitoring and managing glucose levels.
Similarly, according to a report published by the American Diabetes Association in November 2023, about 1.2 million US citizens are diagnosed with diabetes every year. The country also has a high under-age diabetic population, with over 352,000 Americans under age 20 estimated to have been diagnosed with diabetes in 2024. Implantable pumps are vital for diabetic patients to monitor and stabilize their blood glucose levels regularly; thus, the rising number of diabetic patients is propelling the growth of the implantable pumps market.
Key players in the market are working on various growth strategies, such as product launches and approvals, to acquire a larger market share in the region. For instance, in April 2023, the United States Food and Drug Administration (FDA) approved Medtronic’s MiniMed 780G system with the Guardian 4 sensor, which requires no fingersticks while in SmartGuard technology.
In conclusion, the increasing cases of chronic diseases and the increasing product launches adopted by key players are expected to propel the growth of the implantable pumps market in North America during the forecast period.
