Global Infusion Pump Market Size, Share, Growth Analysis, By Product (Accessories & Consumables (Dedicated accessories & consumables and Non dedicated accessories & consumables), Devices (Type), By Application(Chemotherapy/Oncology, Diabetes management), By End users (Hospitals, Ambulatory` care settings) - Industry Forecast 2022-2028

Global 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 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.

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.

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, paediatrics, gastrointestinal, anaesthesia, blood transfusion, and others.

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.

Drivers

• Increasing Number of Surgical Procedures
• 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. Obesity is a major cause of cardiovascular and orthopaedic illnesses. Obesity raises the risk of coronary heart disease, joint and tissue damage, cancer (of the breast, colon, prostate, endometrial, kidney, and gallbladder), ischemic stroke, and type 2 diabetes mellitus. Infusion pumps are essential for the continuous and regulated administration of medications during and after various types of surgery. Infusion pumps' primary application areas include chemotherapy, gastroenterology, analgesia/pain management, and diabetes.Following bariatric surgery, cardiothoracic surgery, and laparoscopic cholecystectomy, infusion pumps are extensively utilised for the local delivery of narcotic analgesics and anaesthetics. The need for infusion therapy is predicted to rise as the number of procedures conducted rises.

Restraint

• Stringent Regulations on Launch of New Products
• Infusion pumps are meant to administer liquid medication and other solutions to a patient's body and are subject to stringent standards and regulations to ensure patients' health and safety. For the approval of new goods, the infusion pump market is governed by different regulatory authorities, including the US Food and Drug Administration (FDA), the Medicines and Healthcare Products Regulatory Agency (MHRA), and the European Medicines Agency (EMA). In Europe, CE mark approval is required to lawfully market and sell infusion pumps. Non-implantable infusion pumps are classed as Class II b devices, while implantable infusion pumps are classified as Active Implantable Medical Devices (AIMD)

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 Global Infusion Pump Market

• Dickinson and Company (US)
• Baxter International (US)
• B. Braun (Germany)
• ICU Medical (US)
• Fresenius Kabi (Germany)
• Smith’s 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)
• CODAN Medizinische Geräte GmbH & Co KG (Germany)

Recent Developments

In April 2021, Medtronic Plc launched the extended infusion set in select European countries, which can be worn up to 7 days.

In March 2021, JMS, Co., Ltd. launched a new syringe pump designed specifically for enteral nutrition applications.

In February 2021, Mindray Medical launched BeneFusion e series- eSP, eVP, and eDS, new infusion systems, thereby expanding its product portfolio.

In 2020, Medtronic Plc launched Exillia the infusion pump system to cater to the increasing demand during the pandemic.

• Expanding R&D Activities in Order to Launch Home Infusion Systems
• The rising frequency of chronic diseases, combined with the rising cost of hospital-based infusion therapy, has fuelled increased research and development efforts to provide home-based infusion solutions. For example, the expanding patient population in diabetes, cancer, and neurological illnesses has resulted in an increase in demand for long-term care, preferably at home. Furthermore, the expanding geriatric population in need of long-term care therapies is driving the development of new products aimed at home-based infusion therapies. The market's top companies are focusing on specialised medicine site of care management. Ivenix, Inc. created the Epic smart infusion pump in August 2020 to help patients avoid infusion-related injuries.

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.