New York, June 08, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Consegic Business Intelligence, the chemotherapy infusion pumps market is poised for strong expansion and is expected to reach USD 7,111.19 million by 2030. The market, which was valued at USD 4,768.45 million in 2022, the market is predicted to grow at a compound annual growth rate of 5.2% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the chemotherapy infusion pumps market.
Chemotherapy is a medical process that involves the treatment of cancer by the usage of powerful chemicals and drugs to kill fast-growing cancer cells inside the body. The process also involves the use of various types of chemotherapy devices such as chemotherapy infusion pumps. Such types of infusion pumps are designed to deliver drugs, fluids, and nutrients directly into the patient’s body targeting cancer cells and inhibiting their growth.
For instance, an ambulatory infusion pump (AIP) are portable and lightweight pump with a small battery. Such types of pumps are widely used for the healing of cancer patients by dispensing chemotherapy drugs at a slow and controlled rate into the body.
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Furthermore, chemotherapy pumps are commercialized in the healthcare market as large-volume pumps, syringe pumps, and elastomeric pumps. Further, the different types of chemotherapy infusion pumps offer different functions and are widely used in nursing homes, hospitals, and clinics.
Global Chemotherapy Infusion Pumps Market Segmentation Details:
Based on Type, in 2022, the syringe pump segment contributed the largest market shares in the chemotherapy infusion pumps market owing to the widespread use of pumps to deliver chemotherapy drugs in a controlled and precise manner. Further, such type of pumps provides a specific dosage of drugs over a set period, ensuring consistent delivery of medication which are the key factor driving the market growth.
Based on End-User, in 2022, the hospital segment contributed the largest market share in the chemotherapy infusion pumps market. Hospitals are the primary healthcare facilities where cancer patients receive diagnosis, treatment, and follow-up care and have higher cases of cancer patients admitted as compared to other healthcare facilities. Further, the increasing incidences of cancer worldwide are driving the need for efficient chemotherapy treatments. The chemotherapy treatment involves the adoption of advanced chemotherapy infusion pumps in hospitals to avoid drug leakage and ensure a proper supply of fluids to the patient, thereby, creating an optimistic growth prospect for the market.
Based on Region, in 2022, North America accounted for the largest share contribution to the market growth driven by the manufacturing of advanced chemotherapy devices by the key market players in the region and the increasing prevalence of cancer particularly in the U.S.
For instance, according to the report published by the American Association for Cancer Research (AACR), in 2020, an estimated 1,806,590 new cases of cancer will be diagnosed in the United States hospital. Hence, the growing incidence of cancer is driving the demand for the chemotherapy infusion pump market.
Global Chemotherapy Infusion Pumps Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 7,111.19 Million |
| CAGR (2023-2030) | 5.2% |
| By Type | Large Volume Pumps Syringe Pumps Ambulatory Infusion Pumps Elastomeric Pumps Others |
| By End-User | Hospitals Clinics Home Care Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | BD, ICU Medical, Inc., Terumo Corporation, B. Braun SE, Baxter International, Inc., Fresenius SE & Co. KGaA, vTitan Corporation Pvt Ltd, Moog Inc., ZynoMed, and Micrel Medical Devices SA |
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Key Market Takeaways
- Asia Pacific is expected to grow at the fastest CAGR of 6.2% during the forecast period due to the increasing cases of lung and breast cancer in the region.
- In 2022, North America accounted for the highest market share at 39.95% and was valued at USD 1,905.00 million, and is expected to reach USD 2,846.61 million in 2030.
- Based on type, the syringe pump segment accounted for the highest market share of 31.05% in the chemotherapy infusion pumps market statistics in 2022.
- By end-user, the hospital segment is anticipated to contribute the largest shares to the market growth in 2022.
Competitive Landscape
As per the research, BD, Micrel Medical Devices SA, and B. Braun SE are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the chemotherapy infusion pumps market is expected to grow steadily due to increasing investment in the healthcare sector for the development of advanced infusion pumps. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
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Recent Developments
- In August 2022, Baxter International Inc. received clearance for the new Novum IQ syringe infusion pump (SYR) with Dose IQ Safety Software. The Novum IQ Syringe Infusion Pump can fully integrate with hospital electronic medical records (EMRs) through Baxter’s.
- In May 2022, Fresenius SE & Co. KGaA announced the acquisition of Ivenix, Inc.. the acquisition is aimed at creating an industry-leading infusion therapy offering in the U.S.
List of Major Global Chemotherapy Infusion Pumps Market:
- BD
- ICU Medical, Inc.
- Terumo Corporation
- B. Braun SE
- Baxter International, Inc.
- Fresenius SE & Co. KGaA
- vTitan Corporation Pvt Ltd
- Moog Inc.
- ZynoMed
- Micrel Medical Devices SA
Global Chemotherapy Infusion Pumps Market Segmentation:
- By Type
- Large Volume Pumps
- Syringe Pumps
- Ambulatory Infusion Pumps
- Elastomeric Pumps
- Others
- By End-User
- Hospitals
- Clinics
- Home Care
- Others
Frequently Asked Questions in the Chemotherapy Infusion Pumps Market Report
- What was the market size of chemotherapy infusion pumps in 2022?
- In 2022, the market size of chemotherapy infusion pumps was USD 4,768.45 million.
- What will be the potential market valuation for chemotherapy infusion pumps by 2030?
- In 2030, the market size of chemotherapy infusion pumps will be expected to reach USD 7,111.19 million.
- What is the key restraint hampering the growth of the chemotherapy infusion pumps market?
- Adverse events associated with the use of chemotherapy infusion pumps and side effects of chemotherapy along with the presence of alternative approaches are the key factors likely to hinder market growth.
- What is the dominating segment in the chemotherapy infusion pumps market, by end-user?
- In 2022, the hospital segment accounted for the highest market share in the overall chemotherapy infusion pumps market.
- Based on current market trends, which geographical region contributed the largest share in the market?
- North America contributed to the largest market share in the chemotherapy infusion pumps market.
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