Market Snapshot:
Patient-controlled analgesia (PCA) is a process of pain control that gives patients the power to control their pain. In this process, a computerized pump known as the patient-controlled analgesia pump, which comprises a syringe of pain medication as recommended by a doctor, is connected directly to a patient's intravenous (IV) line. In some cases, the pump is established to provide a small, constant flow of pain medication. Extra doses of medication can be self-administered as required by having the patient press a button. Other times, a patient can control when he or she receives pain medication and does not receive a continuous flow.
Highlights from Patient-Controlled Analgesia Pumps Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Largest Market | North America |
Unit | Value (USD Million) |
CAGR | 5.6% |
The key Players profiled in the report are ICU Medical Inc. (Smiths Group plc.) (United Kingdom), Fresenius Kabi Group (Germany), Hospira (United States), Micrel Medical Devices (Greece), Ace Medical Co. Ltd. (United States), Terumo Corporation (Japan), B. Braun Melsungen AG (Germany), Baxter International (United States), Becton Dickinson and Company (United States) and ICU Medical (United States).
Geographic Breakdown and Segment Analysis
The Global Patient-Controlled Analgesia Pumps market presents a comprehensive analysis of the Patient-Controlled Analgesia Pumps market by product type (Electronic PCA Pumps and Mechanical PCA Pumps), by end-user/application (Oncology, Hematology, Neonatology, Gastroenterology and Diabetes), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Patient-Controlled Analgesia Pumps industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority 3.5% of market share of the Patient-Controlled Analgesia Pumps market
Analyst at AMA have segmented the market study of Global Patient-Controlled Analgesia Pumps market by Type, Application and Region. On the basis of Type, hospitals are dominating the market in the year 2021.
Patient-Controlled Analgesia Pumps Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing in Number of Chronic Diseases across the Globe
- Favorable Reimbursement Healthcare Policies
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Influencing Trends | - Technological Advancements in Healthcare Devices
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Restraints | - A dearth of Awareness about Using Advanced Infusion Systems
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Gaps & Opportunities | - Growing Healthcare Infrastructure in Developing Region
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Market Developments Activities:
In January 2022, ICU Medical Inc. announced that it has completed its acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes a syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical's existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately USD 2.5 billion.
In March 2021, Smiths Medical, a leading medical device manufacturer, announces the release of the ECRI evaluation report for CADD®-Solis v4 with wireless communication Patient-Controlled Analgesic (PCA) and epidural infusion pump. ECRI is an independent non-profit organization improving the safety, quality, and cost-effectiveness of care across all healthcare settings worldwide (www.ecri.org). The report highlights ECRI’s evaluation ratings, test results, and purchasing recommendations for the CADD®-Solis pump.
Regulatory Insights:
On October 26, 2002, the Medical Device User Fee and Modernization Act of 2002 became law. It authorizes the FDA to charge a fee for medical device Premarket Notification 510(k) reviews. A small business may pay a reduced fee. The application fee applies to Traditional, Abbreviated, and Special 510(k). The payment of a premarket review fee is not related in any way to FDA's final decision on a submission.
To entice more end users, market players are focusing on providing Patient-controlled Analgesia Pumps of higher quality while adhering to all regulatory standards. In the global Patient-controlled Analgesia Pumps System market, there are numerous large and small-scale manufacturers. They are also concentrating on the implementation of numerous advanced technologies. Furthermore, the numerous industry profits have led to the entry of new players, raising the level of rivalry in an already competitive market. The Patient-controlled Analgesia Pumps market is currently expanding due to the increasing number of technological advancements in pharmacy and healthcare. Some of the key players in this market follow strategies, which include new product offerings, product approvals, partnerships and alliances, mergers and acquisitions, and business expansions.
Key Target Audience
Manufacturers of Patient-Controlled Analgesia Pump, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Patient-Controlled Analgesia Pump, Healthcare Industry, Governmental Bodies and Research Firms