Global Patient-controlled Analgesic Pumps Markets 2021-2028 - Rising Advantages of Patient-controlled Analgesic Pumps Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Patient-controlled Analgesic Pumps Market Size, Share & Trends Analysis Report by Type (Electronic, Mechanical), by Application (Diabetes, Oncology, Gastroenterology, Hematology), by End-use, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global patient-controlled analgesic pumps market size is expected to reach USD 580.5 million by 2028 and is expected to expand at a CAGR of 5.6% from 2021 to 2028
Patient-controlled Analgesic (PCA) pumps offer several advantages including fewer post-operative complications, improved quality of recovery, less sedation, and minimal use of medication. Also, PCA pumps are useful among patients that have a problem in taking oral medications.
Thus, the rising adoption of the medical device among patients that are unable to take oral medications is expected to drive the market. In addition, the growing trend of home healthcare during the COVID-19 pandemic is also expected to propel market growth in the coming years.
Patient-controlled analgesic pumps have positive outcomes for the pediatric postsurgical population including increasing autonomy, simplifying pain relief in the postoperative period, and maintaining stable hemodynamics. Innovative PCA techniques such as PCRA, PCEA, and noninvasive forms of PCA have extended the options available for pain treatment and are estimated to have a positive impact on market growth.
Advances in the pumps including variable-rate infusions that are calculated based on patient needs for analgesic along with improved patient monitoring are anticipated to enhance the use of such techniques during the forecast timeframe.
Rising cases of chronic pain disorders including cancer, rheumatoid arthritis, and fibromyalgia are anticipated to boost the market growth. For instance, as per the CDC, in 2019 around 20.4% of adults had chronic pain. Chronic pain increases with age and is highest among adults aged 65 and above. Hence, the rising occurrence of chronic pain among adults is anticipated to create robust growth opportunities in the market.
Patient-controlled Analgesic Pumps Market Report Highlights
- North America accounted for the largest revenue share in 2020. Increased healthcare awareness among individuals about pain management is anticipated to fuel the regional growth
- By type, the electronic segment accounted for the largest revenue share in 2020 owing to several benefits offered by electronic PCA
- By application, the oncology segment accounted for the largest revenue share in 2020 owing to high usage of patient-controlled analgesic pumps in managing sustained cancer pain
- The hospitals segment held the largest revenue share as hospital settings provide advanced treatment facilities and are equipped with technologically advanced medical devices
- The home care settings segment is projected to expand at the fastest CAGR of 6.7% over the forecast period
Market driver analysis
- Increasing incidence of chronic illness such as cancer and pain
- Rising advantages of patient-controlled analgesic pumps
- Technological advancements
Market restraint analysis
- Stringent regulations and product recalls
Patient-controlled Analgesic pumps Market Analysis Tools
- Industry analysis - Porter's
- PESTEL analysis
- Major deals & strategic alliances analysis
- Market entry strategies
- Smiths Group plc
- Fresenius SE & Co KGaA
- B. Braun Melsungen AG
- Baxter International Inc.
- Becton, Dickinson and Company
- ICU Medical, Inc.
- ACE Medical
- Terumo Corporation
- Pfizer Inc. (Hospira)
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