Portland, OR, Feb. 24, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global patient controlled analgesia pumps market was estimated at $277.67 million in 2021 and is expected to hit $407.89 million by 2031, registering a CAGR of 3.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $277.67 million |
| Market Size in 2031 | $407.89 million |
| CAGR | 3.9% |
| No. of Pages in Report | 209 |
| Segments Covered | Type, Application, End User, and Region. |
| Drivers | Rise in cases of chronic pain diseases |
| Technological advancements in analgesic pumps | |
| Increase in number of surgeries | |
| Restraints | Lack of awareness regarding analgesia pumps |
| Stringent government regulations | |
| Opportunities | Lucrative growth opportunities in developing countries |
| Development in analgesic pumps |
Impact of Covid-19 on Patient Controlled Analgesia Pumps Market:
- Increase in COVID-19 cases led to decline in the number of surgical procedures this had led to decrease in demand for patient controlled analgesic pumps and, thus negatively impacted the market growth.
- However, as the global situation has recovered, the market has now got back on track.
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The global patient controlled analgesia pumps market is analyzed across type, application, end user, and region. The report uses tabular and graphical representation to provide a comprehensive study of the segments and their sub-segments. The segmentation can help investors and market participants develop strategies based on the top revenue-generating and fastest-growing segments identified in the study.
By type, the electronic and wireless segment held the largest share in 2021, garnering around three-fourths of the global patient controlled analgesia pumps market revenue, and is projected to maintain its dominance by 2031. The same segment would register the fastest CAGR of 4.1% during the forecast period.
By application, the oncology and hematology segment contributed to nearly two-third of the global patient controlled analgesia pumps market share in 2021. The same segment would display the fastest CAGR of 4.2% throughout the forecast period.
By end-user, the others segment accounted for the highest share in 2021, generating nearly half of the global patient controlled analgesia pumps market revenue. The same segment would also register the fastest CAGR of 4.4% during the forecast period.
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By region, North America held the major share in 2021, garnering more than half of the global patient controlled analgesia pumps market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 4.9% from 2022 to 2031.
The key market players analyzed in the global patient controlled analgesia pumps market report include Ace-medical, Arcomed AG, B. Braun SE, Becton, Dickinson and Company, Changzhou Medical Bioengineering Co., Ltd., Fresenius SE and Co. KGaA, Henan Tuoren Medical Device Co., Ltd., ICU Medical, Inc., Micrel Medical Devices SA, SCW Medicath Ltd.
These market players have embraced strategy including acquisition to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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