USD 13.74 billion
Report ID: SQMIG35A2184 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 95 | Figures: 76
Infusion Pump Market size was valued at USD 13.74 billion in 2021 and is poised to grow from USD 14.7 billion in 2022 to USD 27.03 billion by 2030, growing at a CAGR of 7% in the forecast period (2023-2030).
Infusion pumps, such as implantable pumps, insulin pumps, and ambulatory chemotherapy pumps, aid in the management of a number of conditions in home care settings, including diabetes and cancer. Ambulatory infusion pumps are wearable or portable, whereas infusion pumps aid in the exact distribution of fluids such as medications, antibiotics, and nutrition throughout the body in a controlled setting. These are frequently used in ambulatory surgery centres, hospitals, infusion clinics, long-term care institutions, and homes. Due to rising prevalence of chronic diseases, the choice for home healthcare has grown over time. Increases in healthcare spending, particularly in hospitalisation, benefit the global sector as well. The defence industry's high need for infusion systems is expected to drive industry growth. Furthermore, the growing elderly population is expected to drive growth in the global infusion pump market. People over the age of 65 may require infusion pumps for medication, hormones, nutrition, and other purposes.
US Infusion Pump Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.74 billion
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Infusion Pump Market is segmented based on product type, application, end user, and region. Based on product type, the infusion pump market is segmented into Accessories and consumables (Dedicated Accessories and Consumables, Non-Dedicated Accessories and Consumables), Devices (product, technology, type). Dedicated accessories and consumables are further divided into Volumetric infusion pumps, insulin pumps, enteral infusion pumps, syringe infusion pumps, ambulatory infusion pumps, PCA pumps, implantable infusion pumps. Non dedicated accessories and consumables are further divided into infusion catheters, IV/administration sets, cannulas, valves, needleless connectors, tubing & extension sets, others. Devices are further divided into product, technology, type. Products further divided into volumetric infusion pumps, insulin pumps, enteral infusion pumps, syringe infusion pumps, PCA pumps, Implantable infusion pumps. Technology is divided into traditional infusion pumps, speciality infusion pumps. Based on application, the Infusion Pump Market is segmented into Chemotherapy/Oncology, Diabetes management, Gastroenterology, Pain management/Analgesia, Paediatrics/Neonatology, Haematology, Others. Based on end user, the infusion pump market is segmented into Hospitals, Ambulatory care settings, Speciality Clinics, Home care settings.
Infusion Pump Market Analysis by Product Type:
The insulin pump segment dominated the global infusion pump market. The segment is expected to maintain its dominance by expanding at an extremely fast rate during the projection period. This is due to an increase in the number of type 1 diabetic patients worldwide, as well as the launch of promising technology in the insulin pump field. Growing pain treatment applications for PCA pumps are expected to drive global product demand in the future years.
Infusion Pump Market Analysis by Application:
Diabetes application segment held largest share due to rising diabetes prevalence globally. During the projection period, the segment is expected to increase at the fastest CAGR. The oncology market is likely to gain substantial traction as the prevalence of various cancers rises and new product launches increase. Other applications include haematology, pediatrics, gastrointestinal, anaesthesia, blood transfusion, and others.
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Based on region, global infusion pump market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. In 2020, the global infusion pump market in North America was valued at USD 3.52 billion. The regional market is characterised by greater diabetes diagnosis and treatment rates, as well as high adoption of ambulatory pumps and attractive reimbursement policies. The advancement of medical device technology in North America is boosting market growth. Europe has the second-largest market share. An increase in the frequency of chronic diseases in this region, as well as large European Commission expenditure in the healthcare sector, are expected to fuel demand for these pumps in Europe during 2021 –2028. The market in emerging regions such as Asia Pacific, Latin America, and the Middle East and Africa is expected to grow at a faster rate over the forecast period. Rise in the prevalence of chronic diseases such as diabetes and cancer, growing healthcare infrastructure, growing GDP, disposable income, and increasing awareness about the availability of advanced therapies in the Asia Pacific region are some of the factors expected to drive market growth in this region in the coming years. The market in Latin America, the Middle East, and Africa is still in its infancy. However, the increased focus of key players on expanding their presence in these countries will boost the market growth in these regions.
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Infusion Pump Market Drivers
Increasing Number of Surgical Procedures
Infusion Pump Market Restraint
Stringent Regulations on Launch of New Products
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The infusion pump market is characterised by the presence of well-established players as well as several small and medium-sized players. These manufacturers are pursuing a variety of strategies, including new product launches, product portfolio expansion, and mergers and acquisitions. Several large firms are forming multiple strategic alliances in order to increase their market share and get a competitive edge.
Top Players in the Infusion Pump Market
Infusion Pump Market Recent Developments
Expanding R&D Activities in Order to Launch Home Infusion Systems
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global infusion pump market analysis, market in North America was valued at US$ 3.52 billion. The regional market is characterised by greater diabetes diagnosis and treatment rates, as well as high adoption of ambulatory pumps and attractive reimbursement policies. The advancement of medical device technology in the North America region is boosting the market growth. The number of surgical procedures conducted around the world has increased significantly over the years. This can be ascribed to an ageing population as well as an increase in the prevalence of obesity and other lifestyle disorders due to which number of surgical procedures are increasing.
|Market size value in 2021||USD 13.74 billion|
|Market size value in 2030||USD 27.03 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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KEY COMPANY PROFILES
For the Global Infusion Pump Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Infusion Pump Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Infusion Pump Market:
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