Pune, April 08, 2020 (GLOBE NEWSWIRE) -- The global infusion pump market size is predicted to reach USD 16.09 billion by 2026, exhibiting a CAGR of 7.1% during the forecast period. The increasing prevalence of chronic diseases will spur demand for infusion pumps in the forthcoming years. Moreover, the growing advancements in drug delivery systems will boost the infusion pumps market trends during the forecast period. The increasing adoption of advanced treatment techniques will have a positive impact on the infusion pump market growth in the foreseeable future.
As per the published report by Fortune Business Insights, titled “Infusion Pump Market Size, Share & Industry Analysis, By Type (Volumetric Pumps, Syringe Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Implantable Pumps, and PCA Pumps), By Application (Diabetes, Oncology, Pain Management, and Others), By End User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings, and Others), and Regional Forecast, 2019-2026” the market size stood at USD 9.28 billion in 2018.
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The global infusion pumps market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about market status, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis. From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivalled data in well-organized manner.
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Market Driver:
Growing Cases of Cancer and Diabetes to Aid Market Expansion
The increasing incidence of cancer among patients will spur opportunities for the infusion pumps market during the forecast period. According to the World Health Organization (WHO), in 2018, cancer was estimated to be the second most prominent cause of death globally and is responsible for about 9.6 million deaths. Cancer patients require chemotherapy which is to be delivered to the patients in a continuous manner which can be achieved by using the infusion pumps. Moreover, the knowledge about the advantages of infusion pumps such as the ability to administer fluids in small dosage and at accurate programmed rates will promote the infusion pumps market revenue. Furthermore, the growing cases of diabetes will fuel demand for infusion pumps, which in turn, will bolster healthy growth of the market. according to the International Diabetes Federation (IDF), in 2019, the prevalence of diabetes was estimated to be around 463 million cases worldwide. For instance, the insulin infusion pumps are used to administer drugs to maintain blood-sugar level in the bloodstream. In addition, infusion pumps are preferred in the management of type 1 diabetes.
Regional Analysis
Favorable Reimbursement Policies to Boost Growth in North America
The market in North America stood at USD 3.41 billion in 2018. The growth in region is attributed to higher diagnosis and treatment rates for diabetes coupled with high adoption of ambulatory infusion pumps. Moreover, favorable reimbursement policies will aid growth in the region. Europe is predicted to witness steady growth during the forecast period owing to the prevalence of chronic diseases in the region. Asia Pacific is predicted to grow significantly during the forecast period owing to the growing healthcare infrastructure, growing GDP, increasing per capita disposable income. The increasing awareness about the available advanced therapies will further influence growth in the region. The market in Latin America and the Middle East & Africa is at nascent stage. Nonetheless, focus of leading players towards market presence will augment growth in the regions.
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Key Development:
April 2017: Acquisition of BD for Caesarea Medical Electronics, the infusion pumps manufacturing company. The strategic acquisition will help the companies to cater to the advanced technological development of innovative infusion pumps.
List of the Key Companies Operating in the Infusion Pump Market are:
- Medtronic
- BD
- Baxter
- Insulet Corporation
- icumedical
- B. Braun Melsungen AG
- Smiths Medical (Smiths Group plc.)
- Fresenius Kabi AG
- Terumo Corporation
- F. Hoffmann-La Roche Ltd
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Others
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Chronic Disorders (Diabetes, Cancer, Neurological Disorders etc.)
- Key Industry Developments – Mergers, Acquisitions, Partnerships & New Product Launch
- Technological Advancements in Infusion Pump
- Regulatory Scenario by Key Countries/Region
- Key Industry Trends
- Global Infusion Pump Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Volumetric Pumps
- Syringe Pumps
- Elastomeric Pumps
- Insulin Pumps
- Enteral Pumps
- Implantable Pumps
- Patient Control Analgesia (PCA) Pumps
- Market Analysis, Insights and Forecast – By Application
- Diabetes
- Ambulatory Care Settings
- Pain Management
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Ambulatory Care Settings
- Specialty Clinics
- Home Care Settings
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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