Infusion Pumps Market

SKU: DMPH2889 | Last Updated On: Jan 13 2023 | Available Formats

>Infusion Pumps Market Expected to reach a high CAGR of 9% during the forecast period 2023-2030:

Infusion Pumps Market is segmented By Product Type (Devices & Pumps, Implantable Infusion Pumps, Insulin Infusion Pumps, Syringe Infusion Pumps, Volumetric Infusion Pumps, Enteral Infusion Pumps, Ambulatory Infusion Pumps (Disposable Infusion Pumps, Chemotherapy Infusion Pumps), Patient Controlled Analgesia (PCA) Pumps, Accessories & Disposables), By Application (Diabetes, Chemotherapy/Oncology, Gastroenterology, Analgesia/Pain Management, Pediatrics/Neonatology, Hematology, Others), By End-User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings, Academic & Research Institutes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Infusion Pumps Market is forecasted to reach at a CAGR of 9% during the forecast period (2023-2030). Infusion pumps are medical devices that deliver fluids, such as nutrients and medications, into the patient’s body in controlled amounts. Infusion pumps have widespread use in clinical settings such as hospitals, nursing homes, and the home. They offer several advantages over manual administration, such as delivering fluids in small quantities and delivering fluids at precisely programmed rates or automated intervals. They deliver nutrients or medications, such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. The global infusion pump market is growing due to several factors, such as the rising incidence of chronic diseases with an increasing geriatric population, growing demand for ambulatory infusion pumps, technological advancements in devices & accessories, and the increasing number of surgical procedures performed.

Infusion Pumps Market

Metrics

Details

Market CAGR

9%

Segments Covered

By Product Type, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To Get a Free Sample Click here

Market Dynamics:

The rising incidences of chronic diseases drive the market growth

In the United States, about six in ten live with chronic diseases, like heart disease, cancer, stroke, or diabetes. According to the report published by the Centre for disease control and prevention in 2022, In the United States, around 37.3 million people have diabetes, which is around 11.3% of the United States population. Among these, 28.7 million people were diagnosed; including 28.5 million adults and 8.5 million people (23.0% of adults are undiagnosed). A total 96 million people aged 18 years or older have prediabetes, around 38% of the adult US population. 26.4 million People in the United States aged 65 years or older (48.8%) have prediabetes. Diabetes is the seventh leading cause of death in the United States. Also, coronary heart disorder is the most common type of heart disease in the United States, killing about 382,820 people in 2020. About 20.1 million adults age 20 and older have coronary heart disorder (about 7.2%). In 2020, about 2 in 10 deaths from CAD happened in adults less than 65 years old.

However, stringent regulations, product recalls, and the rising adoption of refurbished infusion pumps hinder the market's growth. For instance, on March 6th, 2020, BD recalled Alaris System infusion pumps. According to the FDA, this has been identified as the Class I recall, one of the most serious types of recall. The use of these devices may cause serious injuries or death. BD/Care Fusion 303 recalls the Alaris Infusion Pump System and Modules due to multiple system errors, software errors, and use-related errors.

Market Segmentation:

The insulin infusion pumps segment is projected to be the dominant segment in the market during the forecast period.

By product, the infusion pumps market is segmented into pumps & devices & accessories & consumables.

The insulin infusion pumps segment is estimated to grow at the fastest CAGR during the forecast period. The insulin pump provides continuous delivery of short-acting insulin all day long. The insulin pump substitutes the need for long-acting insulin. An insulin pump also replaces the need for multiple daily injections with a continuous insulin infusion and improves your blood sugar levels. Insulin infusion pumps are made of Teflon or steel and attach to your skin with an adhesive patch. The pump's underside is a short, thin tube (cannula) inserted in the skin with a small needle housed within the cannula to deliver insulin into a layer of fatty tissue. The increasing regulatory approvals from the national governing bodies for insulin infusion pumps drive the global drug delivery infusion system market. For instance, in August 2021, Lilly's insulin lispro-aabc injection (Lyumjev) 100 units/mL was granted FDA approval to improve glycemic control in adults with type 1 and type 2 diabetes, including administration via continuous subcutaneous insulin infusion with an insulin pump. Insulin pumps are an important delivery option for people with diabetes.

Based on application, the infusion pumps market is segmented into diabetes, gastroenterology, chemotherapy/oncology, analgesia/pain management, hematology, pediatrics/neonatology, and others.

Among these, the diabetes segment is estimated to grow at the highest CAGR over the forecast period, owing to the rising prevalence of diabetes and increasing demand for insulin pumps to manage diabetes in-home care. The launch of a new product for diabetes is driving the global drug delivery infusion system market.

Geographical Penetration:

North America is the dominating region during the forecast period.

North America dominated the global infusion pumps market and accounted for the largest market share in 2021, owing to the high adoption of specialty infusion pumps to treat chronic diseases, increasing prevalence of chronic diseases, rising geriatric population, and the presence of many large hospitals in the region. The huge number of insulin therapy in Canada is driving the North American drug delivery infusion system market. According to Statista, in 2021, around 7.3 percent of Canadians reported that they had been diagnosed by a health professional as having diabetes. The geographical expansion of leading injection and infusion systems manufacturers drives the North American infusion pumps market. The infusion system's launch is a key factor driving the North American drug delivery infusion system market. For instance, in August 2022, Baxter International Inc., a leader in innovative technology for medication delivery, announced U.S. Food and Drug Administration approval for its new Novum IQ syringe infusion pump (SYR) with Dose IQ Safety Software, representing Baxter's latest developments for infusion therapy. These syringe infusion pumps are typically used to precisely deliver small amounts of fluid at low rates, often in pediatric, neonatal or anesthesia care settings.

Competitive Landscape:

The global infusion pumps market is fragmented, with a large number of international and local players. Some of the market's major players include B. Braun, Medtronic Plc, F. Hoffmann-La Roche Ltd., Smiths Medical, Becton, Dickinson And Company, Baxter International Inc., Terumo Corporation, Teleflex, Inc., Mindray Medical International Limited, Fresenius Kabi, among others. The key players are adopting various growth strategies such as expansion, mergers & acquisitions, partnerships, product launches, and collaborations, contributing to the growth of the Infusion Pumps market globally. For instance, On February 27th, 2020, LTR Medical entered an exclusive distribution agreement with Woo Young Medical to distribute their new generation of elastomeric infusion technologies into the Australian market. Woo Young Medical is one of the global leaders in ambulatory infusion technology, based in Korea. Pictured here are Lee Rodne, CEO of LTR Medical, and Brian Cha, COO/President of Woo Young Medical. On February 24th, 2020, United Therapeutics Corporation and DEKA Research & Development Corp. received 510(k) clearance by the U.S. Food and Drug Administration (FDA) related to the Unity Subcutaneous Delivery System for Remodulin (treprostinil) Injection, also referred to as the Remunity™ pump, enabling United Therapeutics to launch the system using drug reservoirs that specialty pharmacies have prefilled. Also, In January 2020, Medtronic launched Efficio, a cloud-based data management software, for use with the SynchroMed II intrathecal drug delivery system. It enables clinicians to efficiently manage their targeted drug delivery pump practices to treat patients with chronic pain, cancer, and severe spasticity.

The global infusion pumps market report would provide an access to approximately 44 market data tables, 43 figures and 170 pages

Trending Topics

Implantable Infusion Pumps Market

Elastomer Infusion Pump Market

Infusion Therapy Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report

20% Discount Applied*



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest