Patient-controlled Analgesic Pumps Market - By Type (Electronic & Wireless, Mechanical), Application (Diabetes, Oncology, Gastroenterology, Hematology), End-use (Hospitals, Specialty Clinics, Ambulatory Surgical Centers) – Global Forecast, 2024 – 2032
Report ID: GMI7971
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Published Date: January 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 10
Tables & Figures: 213
Countries covered: 22
Pages: 120
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Patient-controlled Analgesic Pumps Market
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Patient-controlled Analgesic Pumps Market Size
Patient-Controlled Analgesic Pumps Market was valued at around USD 453.9 million in 2023 and is estimated to grow at 4.8% CAGR from 2024 to 2032. This robust market growth can be attributed to various factors, including the growing number of surgical procedures, an increase in the prevalence of chronic pain conditions, ongoing advancements in pain management technologies, and surging demand for non-invasive procedures, among other contributing factors.
Moreover, the ageing population is more prone to develop chronic health issues and require surgical treatments, causing a greater demand for effective pain management. Patient-controlled analgesia pumps are commonly used in elderly individuals to give personalized and regulated pain management. Therefore, increasing geriatric population is expected to considerably boost the market growth.
For instance, according to United Nations (UN) research report published in 2023, the number of people aged 65 and over globally is predicted to treble over the next three decades. The senior population is expected to reach 1.6 billion by 2050, accounting for more than 16% of the worldwide population. Furthermore, there is a growing focus on patient-centered care, where patients actively participate in decisions related to their treatment. Patient-controlled analgesic pumps align with this trend by allowing patients to have a degree of control over their pain management, enhancing their overall experience, thereby contributing to the market growth.
Patient-controlled analgesic (PCA) pumps are medical devices designed to administer pain medication to patients in a controlled and personalized manner. These pumps allow patients to self-administer doses of pain medication within preset limits, providing a level of autonomy in managing their pain. PCA pumps are commonly used in various healthcare settings, including hospitals, postoperative recovery units, and outpatient care settings.
Patient-controlled Analgesic Pumps Market Trends
The growing demand for integrating smart technologies into PCA pumps, increasing emphasis on customization and personalized pain management devices, growing utilisation of multimodal analgesia, and rising trend towards using PCA pumps in outpatient settings and for home infusion, among other factors collectively contribute to the evolving landscape of the market.
Patient-controlled Analgesic Pumps Market Analysis
The market by type is segmented into electronic and wireless and mechanical segments. The electronic and wireless segment accounted for majority revenue share and was valued at around USD 306.6 million revenue in 2023.
Based on application, the patient-controlled analgesic pumps market is categorized into oncology, diabetes, hematology, gastroenterology, and other applications. The oncology segment accounted for around 33.9% market share in 2023 and is anticipated to witness significant growth during the forecast period.
The patient-controlled analgesic pumps market by end-use is categorized into hospitals, specialty clinics, ambulatory surgical centers, and other end-users. The hospitals segment accounted for over USD 236.6 million revenue size in 2023.
North America patient-controlled analgesic pumps market accounted for USD 183.3 million revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
Patient-controlled Analgesic Pumps Market Share
The patient-controlled analgesic pumps industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Abbott Laboratories, Ace-medical, B. Braun Medical Inc., Becton, Dickinson and Company, among others have a notable presence in the market.
Patient-controlled Analgesic Pumps Market Companies
Some of the eminent market participants operating in the patient-controlled analgesic pumps industry include:
Patient-controlled Analgesic Pumps Industry News:
Patient-controlled analgesic pumps market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Type
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: