Infusion Pump Market

Infusion Pump Market

Market Synopsys

Global Infusion Pump market is valued at USD 14257.99 Million in 2022 and is projected to reach a value of USD 27383.94 Million by 2030 at a CAGR of 8.50% 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.

Market Segmentation of Global Infusion Pump Market:

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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.

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.

Competitive Landscape

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:

Infusion Pump Market is tabulated as follows: