Infusion Pump Market
Infusion Pump Market - Global Industry Assessment & Forecast
- By Product Type Accessories and Consumables, Devices
- By Application Chemotherapy/Oncology , Diabetes Management , Gastroenterology , Pain Management/ Analgesia , Pediatrics/ Neonatology , Hematology
- By Setting Hospitals, Home Care Settings , Ambulatory Care Settings , Academic and Research Institutes
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||13,141.50 USD Million|
|Revenue 2028:||21,798.08 USD Million|
|Revenue CAGR (2021 - 2028):||8.80%|
|Fastest Growing Region (2021 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Infusion Pump Market
Global Infusion Pump market is valued at 13,141.50 USD Million in 2021 and is projected to reach a value of 21,798.08 USD Million by 2028 at a CAGR of 8.80% over the forecast period.
An Infusion Pump is an external device used in the healthcare industry to deliver medicine and nutrients to a patient's body. Typically, Infusion Pump are preferred for medical treatment of pain relievers, chemotherapy drugs, fluids, and insulin. It is considered as critical devices, as these devices are used in ICUs, CCUs, and emergency departments. IV infusion is a common need in COVID wards This is because patients taking this medication need precise and conditional doses which allow doctors and nurses to treat patients with minimal exposure to infection and without constant supervision. Portable Infusion Pump are used for patients who require continuous infusion. They are very portable and can be used while traveling. Thus, portable Infusion Pump is more dominant than stationary Infusion Pump.
Infusion pumps are used to provide medications including chemotherapy and diabetes to patients with chronic illnesses. Therefore, the demand for Infusion Pump increased significantly in 2020. This makes the supply and distribution of Infusion Pump a major challenge. The prevalence of chronic illnesses has been increased in the recent years, and the rapid advancement of technology in healthcare resulted in significant health awareness. This increases the use of Infusion Pump. Advantages such as technology, safety features, device shape and size also drive the target market growth.
Infusion Pump Market Size, 2021 To 2028 (USD 21,798.08 Million)
Market Segmentation of Global Infusion Pump Market:
The global Infusion Pump market is segmented on the basis of product type into accessories & consumables and devices. Accessories & consumables which is further segmented into dedicated and non-dedicated accessories and consumables. Devices is segmented on the basis of product, technology and type. On the basis of application, the market is segmented as chemotherapy/oncology, diabetes management, gastroenterology, pain management/ analgesia, paediatrics/ neonatology, haematology, and other applications. Based on settings, the market is divided into hospitals, home care settings, ambulatory care settings, academic and research institutes.
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Based on product type, the accessories & disposables segment is projected to account for considerable share in terms of revenue in the global Infusion Pump market
The growing population of chronic diseases is expected to drive demand for accessories and disposable pumps and the target market growth in the near future. In addition, the improving socio-economic outlook in developing countries is expected to allow more people to choose to use volumetric pumps in home care, which serves as a driver of the market growth. The devices segment, on the other hand, is expected to increase at the fastest CAGR throughout the forecast period.
Based on application, the gastroenterology are expected to hold a significant share in the global Infusion Pump market
The gastroenterology segment had the largest market share in 2021, while the chemotherapy segment is expected to grow at the highest CAGR during the forecast period.
Based on settings, the hospitals segment is projected to account for considerable share in terms of revenue whereas, home care segment is expected to grow at a rapid rate in the target market during the forecast period
Hospitals account for the largest share of the global Infusion Pump market in 2021, owing to large number of patients, high purchasing power of high-priced infusion equipment, and availability of trained professionals to operate the Infusion Pump. During the forecast period, home health care is expected to expand at a rapid pace. The growing demand for infusion systems in the home health care segment is supported by global government initiatives to lower overall healthcare costs associated with extended hospital stays.
In the region, the North America Infusion Pump market holds significant revenue share
North America dominates the global infusion market due to its high prevalence of chronic diseases. And because it is the most developed region, individuals have a high level of health awareness, which has prompted the usage of Infusion Pump.
The Asia-Pacific region is seemed to experience significant expansion in the Infusion Pump industry. The Asia-Pacific region is second in the Infusion Pump market as this region is an epicenter of cancer, diabetes, and cardiovascular diseases.
With the spread of smart pumps and electronic medical records, the market for Infusion Pump in Europe is expected to expand. In addition, the availability of funds in the European region from public and private institutions has the potential to drive biotechnology R & D activities and is expected to boost market growth.
The key players in the global Infusion Pump market are Becton, Dickinson and Company (US), Baxter International (US), B. Braun (Germany), ICU Medical (US), Medtronic PLC (Ireland), Fresenius Kabi (Germany), Moog Inc. (US), Smiths Medical (US), Avanos Medical, Inc. (US), Terumo Corporation (Japan), Nipro Corporation (Japan), Insulet Corporation (US), Tandem Diabetes Care (US), Ypsomed Holding AG (Switzerland), JMS Co., Ltd. (Japan), InfuTronix Solutions LLC (US), Micrel Medical Devices SA (Greece), Zyno Medical LLC (US), Teleflex, Inc. (US), Roche Diagnostics (Switzerland), Epic Medical (Singapore), Mindray Medical International Limited (China), CODAN Medizinische Geräte GmbH & Co KG (Germany), SOOIL Development Co., Ltd. (South Korea), and Shenzhen MedRena Biotech Co., Ltd. (China).
Infusion Pump Market is segmented as follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Infusion Pump Market is tabulated as follows:
Frequently Asked Question
What is the global demand for Infusion Pump in terms of revenue?
The global Infusion Pump valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 8.80%.
Which are the prominent players in the market?
The prominent players in the market are Becton, Dickinson and Company (US), Baxter International (US), B. Braun (Germany), ICU Medical (US), Fresenius Kabi (Germany), Smiths Medical (US), Medtronic PLC (Ireland), Moog Inc. (US), Avanos Medical, Inc. (US), Nipro Corporation (Japan), Terumo Corporation (Japan), Insulet Corporation (US), Ypsomed Holding AG (Switzerland), Tandem Diabetes Care (US), JMS Co., Ltd. (Japan), Micrel Medical Devices SA (Greece), InfuTronix Solutions LLC (US), Zyno Medical LLC (US), Roche Diagnostics (Switzerland), Teleflex, Inc. (US), Mindray Medical International Limited (China), Epic Medical (Singapore), SOOIL Development Co., Ltd. (South Korea), Shenzhen MedRena Biotech Co., Ltd. (China), and CODAN Medizinische Geräte GmbH & Co KG (Germany)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 8.80% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Infusion Pump include
- prevalence of chronic illnesses and the rapid advancement of technology in healthcare
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Infusion Pump in 2020.