Infusion Pump Market Projections: Anticipated Expansion to Reach USD 22.6 billion by 2032 || Market.us

The market is experiencing significant growth due to the rising incidence of chronic diseases. Furthermore, ongoing advancements in drug delivery technologies are expected to drive further expansion in the market.


New York, Oct. 04, 2023 (GLOBE NEWSWIRE) -- According to Market.us, the Infusion Pump Market size is expected to be worth around USD 22.6 Billion by 2032 from USD 12.1 Billion in 2022, growing at a CAGR of 6.6 % during the forecast period from 2023 to 2032.

A pump is a medical device that is used to precisely administer nutrients and fluids to the patient. Hormones, nutritional fluids, and medications are infused into the circulatory system through veins with the help of intravenous infusion pumps in precise amounts. In clinical settings like hospitals, nursing homes, and homes, infusion pumps are frequently used. Using built-in software, the pump's duration and rate of fluid delivery are programmed by a trained operator. Nutrients, antibiotics, chemotherapy drugs, painkillers, and hormones can all be delivered through infusion pumps.

Infusion Pump Market

Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View a PDF sample report @ https://market.us/report/infusion-pumps-market/request-sample/

Key Takeaway

  • By Product, the wearables segment has generated revenue share of 34% in 2022.
  • By Application, the monitoring segment held the maximum share of the market and expected to grow over the forecast period 2023 to 2032.
  • By End-User, the hospitals & clinics segment held the largest share of the market.
  • In 2022, North America was accounted for the majority of share of 39% in the infusion pump market.
  • Asia-Pacific will grow at a fastest CAGR from 2023-2032.

The market is estimated to develop at a significant rate to the factors like the increasing prevalence of chronic diseases, advancements in drug delivery technologies, and others. The infusion pumps are made with specific features, like enteral feeding pumps that give nutrients to people, insulin pumps that deliver insulin to people, and patient-controlled analgesia pumps that give painkillers to people. These pumps can provide fluid through intravenous, subcutaneous, & arterial routes and have been preferred to the manually driven flow control method to achieve therapeutic efficacy and precise fluid delivery.

Factors affecting the growth of the infusion pump market

There are several factors that can affect the growth of the global infusion pump market. Some of these factors include:

  • Rising prevalence of chronic diseases: The increasing prevalence of chronic diseases boost the growth of the market.
  • Advancements in drug delivery technologies: Various advancements in drug delivery technologies will likely propel the market’s growth.
  • Cybersecurity flaws and infusion pump defects that result in mass recalls: Market revenue growth is anticipated to be hindered by cybersecurity flaws and infusion pump defects that result in mass recalls.
  • Effect of COVID-19 pandemic on the market: USFDA granted infusion pumps as a EUA at the time of pandemic.

Top Trends in Global Infusion Pump Market

Due to the growing prevalence of chronic diseases and the rising cost of hospital-based infusion therapies R&D, efforts to create home-based infusion products have increased. For instance, mainly in residential settings, the increasing number of people with cancer, diabetes, and neurological disorders has improved the demand for long-term care. Additionally, new products intended at home-based infusion therapies are being developed in response to the rising geriatric population that requires treatments for long-term care. The leading players of the market are focusing on specialty medicine on-site care management.

Market Growth

The global Infusion Pump Market has shown huge growth due to the growing demand from the healthcare sector. The market is expected to be boosted by the increasing occurrence of chronic diseases such as diabetes, cancer, and gastroenterological problems around the globe. Additionally, it is estimated that the massive demand for infusion systems in the defense sector will propel market expansion.

Regional Analysis

North America dominated the market with a revenue share of 36% throughout the forecast period. NA dominated the infusion pump market and projected to continue throughout the forecast period. In this region, the infusion pump industry has developed due to the rising prevalence of chronic diseases, well-developed and expanding R&D, the rising adoption of advanced technologies, and the increasing number of surgical procedures.

Asia-Pacific will grow at a fastest CAGR, over the forecast period. Countries in Asia was highly populated and have a high rate of chronic diseases like heart disease, diabetes, and cancer. Developing economies in Asia, including China, India, and Japan have well-built infrastructure and healthcare facilities. The IV infusion industry is poised to flourish due to the factors such as the low cost of treatments, the adoption of advanced technology, significant government reform, and a high disease burden.

Infusion Pump Market Regions

Competitive Landscape

The modification in standardized dosing, technology, automation, and extensive adoption of innovative healthcare technology for improving healthcare services are major factors increases competitiveness among market players. Also, key players are growing geographically to maintain market share; & widen their product range by implementing strategies like acquisitions, mergers, and new product launches.

For instance, Baxter International launched SpectrumIQ & DeviceVue. SpectrumIQ is an electronic medical record-integrated infusion pump technology, & DeviceVue is an asset-tracking software to boost drug delivery efficiency.

To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/infusion-pumps-market/#inquiry

Market Key Players

  • Baxter International, Inc.
  • Braun Melsungen AG
  • Medtronic
  • Becton Dickinson and Company
  • Insulet Corporation
  • Fresenius Kabi AG
  • Roche Diagnostics
  • Terumo Corporation
  • Sanofi
  • Eli Lilly and Company
  • Novartis AG
  • AbbVie Inc.
  • InfuTronix Solutions LLC
  • Other Key Players

Scope of the Report

Report AttributesDetails
Market Value (2022)USD 12.1 Billion
Market Size in 2032USD 22.6 Billion
CAGR (2023 to 2032)6.6%
North America Revenue Share39%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Market Drivers

Infusion pumps have revolutionized the treatment of various diseases, including diabetes, iron poisoning, cancer, and thromboembolic disease. These pumps inject drugs or nutrients into the patient's body, ensuring safe and easy use. Software controls the user interface, manages the pumping mechanism, and maintains the prescribed infusion rate. Automated infusion pumps eliminate the need for a medical assistant, resulting in lower costs for patients and precise hormone injections at prescribed dosages and intervals. This technology is particularly useful for type-1 diabetics who require regular insulin injections.

Market Restraints

Infusion pumps, used to administer vital fluids like glucose and other nutrients, can cause adverse medical effects, significant patient injury, or even death due to errors. The FDA has issued a Class I recall for the Becton Dickinson Alaris System infusion pumps due to reported deaths and injuries. In the past, the FDA has had to recall infusion pumps due to software, mechanical, electrical, and user interface issues. Pre-programmed alarms can also malfunction due to software issues.

Market Opportunities

The increasing implementation of various speciality infusion pumps around the world contributed to the market’s growth. Insulin pumps, enteral pumps, implantable pumps, and patient-controlled analgesia pumps are various types of speciality infusion pumps which are available in the market. PCA pumps reduce the complications associated with anesthetics and also induce anesthesia in controlled manner. The increasing significance of chronic diseases, the shift from parental to enteral nutrition, and the rising incidence of preterm births have raised the implementation of infusion pumps.

Immediate Delivery Available | Buy This Premium Research Report @ https://market.us/purchase-report/?report_id=32730

Report Segmentation of the Infusion Pump Market

Type Insight

Volumetric infusion pumps dominate the market due to their advanced features like drug libraries and barcode technology. Smart pumps with error-prevention software and controlled IV medication are increasingly being used. Insulin infusion pumps are expected to experience the highest CAGR due to changing lifestyles and urbanization, as the global burden of diabetes and its complications has improved over the past decade. The pump market is expected to flourish in the future due to its low incidence of infections & delivery system failure during treatment.

Disease Indication Insight

Chemotherapy, diabetes, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, and other disease indications are among the market segments. The diabetes market accounted for the majority of the infusion pump market. It is estimated that the sector will expand at the highest CAGR, during the forecast period. Due to the increasing incidence of several cancers and the upsurge in new product launches in this field, it is projected that the oncology sector will experience significant growth. This pump is also used in hematology, pediatrics, gastroenterology, blood transfusion, anesthesia, and other fields.

End-User Insight

The hospitals & clinics segment dominates the market due to their high purchasing power for expensive infusion devices, large patient base, and trained staff. The growth of the home care settings segment is expected to increase at the highest CAGR over the forecast period. The increasing demand for infusion systems in homecare settings is likely to be maintained by government initiatives to reduce healthcare costs due to prolonged hospitalization. The large number of patients treated at hospitals, the availability of qualified professionals, and strong financial capabilities of hospitals contribute to the expansion of the segment.

Infusion Pump Market Regions

Market Segmentation

By Type

  • Volumetric Pumps
  • Enteral Pumps
  • Syringe Pumps
  • Insulin Pumps
  • Implantable Pumps
  • Elastomeric Pumps
  • PCA Pumps

By Disease Indication

  • Diabetes
  • Chemotherapy
  • Analgesia/Pain Management
  • Gastroenterology
  • Hematology
  • Pediatrics/Neonatology
  • Other Disease Indications

By End-User

  • Hospitals & Clinics
  • Home Care Settings
  • Ambulatory Care Settings
  • Other End-Users

By Geography

  • North America
    • The US
    • Canada
  • Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Russia
    • Netherland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • New Zealand
    • Singapore
    • Thailand
    • Vietnam
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View a PDF sample report @ https://market.us/report/infusion-pumps-market/request-sample/

Recent Development of the Infusion Pump Market

  • In August 2022, Baxter International has received USFDA approval for the Novum IQ Syringe Infusion Pump, which possesses Dose IQ Safety Software.
  • In July 2022, Tandem Diabetes has acquired Capillary Biomedical, an infusion set developer, expanding its product portfolio in the infusion business segment.
  • In March 2022, Fresenius Kabi has received USFDA approval for the Agilia Connect Infusion System, which have the Agilia Syringe Pump and Agilia Volumetric Pump along with Vigilant Software Suite-Vigilant Master Med technology.

Browse More Related Reports

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us on LinkedIn | Facebook | Twitter

Our Blog: 

 

Coordonnées