Worldwide Patient-Controlled Analgesic Pumps Industry to 2027 - Featuring Terumo, Abbott Laboratories and Avante Health Solutions Among Others
DUBLIN, June 2, 2021 /PRNewswire/ -- The "Global Patient-Controlled Analgesic Pumps Market By Type, By Application, By End-use, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Patient-controlled Analgesic Pumps Market size is expected to reach $614.5 Million by 2027, rising at a market growth of 9.6% CAGR during the forecast period. Patient-controlled analgesia (PCA) pumps are considered as the devices that are effective & helpful for patients in controlling their pain through the regulation of the amount of medication utilized in pain management.
Using a pain medication syringe, PCA pumps give a small amount of prescribed medication at a consistent flow rate to the patient. In addition to it, Patient-controlled analgesia pumps are considered to be a computerized pump that has syringes for pain medication and is directly attached to the intravenous line of a patient. Mostly, it is utilized for post-operative management and provides an extra convenience to those patients facing problems to take medicines orally.
COVID-19 Impact
Patient-controlled pumps provide numerous benefits over traditional methods as they offer superior patient management & care. Moreover, the demand for patient-controlled analgesia (PCA) is expected to be fueled due to the increasing shift towards the home healthcare setting because of COVID-19 pandemic. Though, the year 2020 had witnessed a very low number of surgeries during the second and third quarters, the overall impact of COVID-19 caused a severe dip in the growth of the global PCA pumps market in the same year.
Type Outlook
Based on Type, the market is segmented into Electronic and Mechanical. In 2020, Mechanical emerged as the second-highest revenue contributor in the global PCA pumps market, hence creating new growth avenues. Healthcare professionals as well as patients highly prefer mechanical patient-controlled analgesic pumps as they offer various benefits. Zero programming errors, small size, simple portability, and low cost are some of the major benefits of mechanical PCA pumps.
Application Outlook
Based on Application, the market is segmented into Oncology, Diabetes, Hematology, Gastroenterology and Others. The diabetes segment is expected to showcase a prominent growth rate over the forecast period. PCA pumps are effective for diabetic patients in reducing pain. The demand for PCA pumps is anticipated to increase with a sharp rise in the occurrences of diabetes around the world, thereby bolstering the segment growth.
End-use Outlook
Based on End-use, the market is segmented into Hospitals, Specialty Clinics and Ambulatory Surgical Centers. Based on the end-use, the global PCA pumps market was dominated by the hospitals segment by obtaining the largest revenue share in 2020. Hospital is the main faculties in which patient-controlled analgesic therapy is used. The growth of the segment is likely to be boosted due to the high availability of advanced and smart patient-controlled analgesic pumps in hospitals combined with the growing demand for upgraded PCA pumps in recently established hospitals, particularly in emerging economies.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Among all regions, North America emerged as the dominating region in the global patient-controlled analgesic pumps market by procuring the maximum market share in 2020. The region is expected to show a similar trend even during the forecast period. The growth of the regional market is expected to be boosted by the growing occurrences of diabetes, cancer, accidental injuries, and other diseases associated with pain management.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Abbott Laboratories and Fresenius SE & Co. KGaA are the major forerunners in the Patient-controlled Analgesic Pumps Market. Companies such as Baxter International, Inc., Becton, Dickinson and Company, and ICU Medical, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Smiths Group PLC, Fresenius SE & Co. KGaA, B. Braun Melsungen AG, Baxter International, Inc., Becton, Dickinson and Company, Terumo Corporation, Abbott Laboratories, Avante Health Solutions, ICU Medical, Inc., and Ace Medical Co., Ltd.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements,
3.2.2 Geographical Expansions
3.2.3 Approvals & Trials
3.2.4 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
Chapter 4. Global Patient-Controlled Analgesic Pumps Market by Type
4.1 Global Electronic Market by Region
4.2 Global Mechanical Market by Region
Chapter 5. Global Patient-Controlled Analgesic Pumps Market by Application
5.1 Global Oncology Market by Region
5.2 Global Diabetes Market by Region
5.3 Global Hematology Market by Region
5.4 Global Gastroenterology Market by Region
5.5 Global Other Application Market by Region
Chapter 6. Global Patient-Controlled Analgesic Pumps Market by End-use
6.1 Global Hospitals Market by Region
6.2 Global Specialty Clinics Market by Region
6.3 Global Ambulatory Surgical Centers Market by Region
6.4 Global Home Care Settings Market by Region
Chapter 7. Global Patient-Controlled Analgesic Pumps Market by Region
Chapter 8. Company Profiles
8.1 Smiths Group PLC
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Approvals & Trials:
8.2 Fresenius SE & Co. KGaA
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.3 B. Braun Melsungen AG
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.4 Baxter International, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expense
8.4.1 Recent strategies and developments:
8.4.1.1 Approvals & Trials:
8.4.1.2 Acquisition and Mergers:
8.5 Becton, Dickinson and Company
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Approvals & Trials:
8.5.5.2 Acquisition and Mergers:
8.6 Terumo Corporation
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental Analysis
8.6.4 Recent strategies and developments:
8.6.4.1 Partnerships, Collaborations, and Agreements:
8.6.4.2 Approvals & Trials:
8.7 Abbott Laboratories
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.8 Avante Health Solutions
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.9 ICU Medical, Inc.
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Partnerships, Collaborations, and Agreements:
8.9.2.2 Acquisition and Mergers:
8.9.2.3 Geographical Expansions:
8.10. Ace Medical Co., Ltd.
8.10.1 Company Overview
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