USD 41.7 billion
Global Infusion Therapy Market Size, Share, Growth Analysis, By Product Type(Infusion pumps, IV sets), By Application(Chemotherapy, diabetes) - Industry Forecast 2024-2031
Report ID:
SQMIG35B2080 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
67 |
Figures:
74
Global Infusion Therapy Market Insights
Infusion Therapy Market size was valued at USD 41.7 billion in 2019 and is poised to grow from USD 44.45 billion in 2023 to USD 78.9 billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).
Infusion therapy, also known as intravenous (IV) therapy, is a medical treatment that delivers fluids, medications, and other substances directly into a patient's bloodstream through a vein. This approach allows for more rapid and efficient delivery of treatment compared to other methods, such as oral medication or injection. Infusion therapy can be used to administer a wide range of medications, including antibiotics, chemotherapy drugs, pain medication, and immunoglobulin therapy. It can also be used to deliver nutrition, such as in cases where a patient is unable to eat or absorb nutrients orally. The infusion process typically involves inserting a needle or catheter into a vein, often in the arm or hand, and then attaching a tube and bag or pump to deliver the medication or fluids. The treatment can be administered in a hospital setting, an outpatient clinic, or at home with proper training and supervision.
Infusion therapy can provide several benefits to patients, depending on their specific medical conditions and treatment needs. Infusion therapy allows medications to be delivered directly into the bloodstream, bypassing the digestive system and achieving more rapid and efficient delivery. Infusion therapy can allow for precise dosing of medications based on a patient's weight, age, and other factors, which can reduce the risk of side effects and improve treatment outcomes. Infusion therapy can provide a longer duration of medication effect than other forms of medication delivery, reducing the need for frequent dosing. Infusion therapy can often be administered in outpatient settings, such as clinics or at home, which can reduce the need for hospitalization and associated costs. For patients with chronic conditions that require ongoing medication, infusion therapy can provide a convenient and effective way to manage their condition, allowing them to maintain their daily routines and quality of life. Infusion therapy can be used to administer a wide range of medications and nutrients, offering flexibility in treatment options for various medical conditions.
While infusion therapy can provide several benefits to patients, there are also some potential drawbacks and risks associated with this treatment. Infusion therapy requires the insertion of a needle or catheter into a vein, which can increase the risk of infection if proper hygiene protocols are not followed. Patients receiving infusion therapy are at risk of catheter-related complications, such as blockage, dislodgement, or catheter-associated bloodstream infections. Like all medications, those administered through infusion therapy can cause side effects, such as nausea, vomiting, allergic reactions, or changes in blood pressure. It can be expensive, particularly if it requires hospitalization or frequent monitoring. It requires skilled professionals, such as nurses or trained caregivers, to administer and monitor the treatment, which can add to the cost and complexity of the treatment. For patients receiving infusion therapy in outpatient settings, such as clinics or at home, the treatment can be time-consuming and inconvenient, requiring frequent visits or home visits from healthcare providers.
The global infusion therapy market has been growing steadily in recent years and is expected to continue to do so in the coming years. The market is driven by factors such as an aging population, the increasing prevalence of chronic diseases, technological advancements in infusion devices, and the rising demand for home healthcare. Overall, the global infusion therapy market is expected to continue to grow due to the increasing demand for effective and efficient healthcare delivery, particularly in the context of chronic diseases and an aging population. Technological advancements in infusion devices, as well as the increasing trend toward home healthcare, are likely to be major drivers of market growth.
US Infusion Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Devices
Fastest Growth
Devices
Growth Rate
6.7% CAGR
Global Infusion Therapy Market ($ Mn)
Country Share for North America Region (%)
Global Infusion Therapy Market By Product Type ($ Bn)
Global Infusion Therapy Market By Product Type (%)
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Global Infusion Therapy Market Segmental Analysis
Global infusion therapy market is segmented on the basis of product type, application and region. By product type, the market is segmented into infusion pumps, IV sets, needleless connectors, stopcocks, and others. By application, market is segmented into chemotherapy, diabetes, gastrointestinal diseases, pain management, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Infusion Therapy Market Analysis by Product Type
Infusion pumps are expected to hold the largest market share among the product types due to their ability to deliver accurate dosages of medication, customizable drug delivery, and patient safety features. These pumps can be further sub-segmented into volumetric infusion pumps, syringe infusion pumps, and ambulatory infusion pumps. The increasing adoption of these pumps in various medical fields is expected to drive their growth during the forecast period.
The needleless connectors segment is expected to witness the fastest growth during the forecast period. Needleless connectors are used to connect the tubing of infusion sets to the catheter or IV site without the use of a needle. These connectors are gaining popularity due to their safety and convenience features. Needleless connectors can be further sub-segmented into positive pressure connectors, negative pressure connectors, and neutral connectors. The increasing demand for these connectors in various medical procedures is expected to drive their growth during the forecast period.
Infusion Therapy Market Analysis by Application
Chemotherapy is expected to hold the largest market share among the application segments due to the increasing incidence of cancer and the growing demand for chemotherapy treatments. Infusion therapy is widely used to deliver chemotherapy drugs and is preferred over oral medication in many cases due to its effectiveness.
The diabetes segment is expected to witness significant growth due to the rising prevalence of diabetes and the increasing adoption of insulin infusion therapy. Infusion pumps are widely used in diabetes treatment to deliver insulin and maintain blood glucose levels. The growing demand for advanced diabetes management solutions and the increasing availability of innovative insulin pumps and devices are expected to drive the growth of this segment during the forecast period.
Global Infusion Therapy Market By Product Type, 2023 (%)
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Global Infusion Therapy Market Regional Insights
North America is the largest market for infusion therapy globally, accounting for a significant share of the global market. One of the key drivers of the infusion therapy market in North America is the high prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases. According to the American Cancer Society, an estimated 1.9 million new cancer cases were diagnosed in the United States in 2021. These patients often require infusion therapy for the management of their conditions, leading to a high demand for infusion therapy products and services. In addition, the region has a well-established healthcare infrastructure, with a large number of hospitals, clinics, and other healthcare facilities that offer infusion therapy services. The availability of advanced healthcare technologies, skilled healthcare professionals, and favorable reimbursement policies has further fueled the growth of the market in the region. Furthermore, the increasing trend of home healthcare and the availability of advanced home infusion therapy products and services have also contributed to the growth of the market in North America. Home infusion therapy allows patients to receive their treatments in the comfort of their homes, which can improve patient outcomes and reduce hospital readmissions. Overall, the North America market for infusion therapy is expected to continue its growth trajectory in the coming years, driven by the high prevalence of chronic diseases, well-established healthcare infrastructure, and increasing adoption of home healthcare.
Europe is the second-largest market for infusion therapy globally, with a significant share of the global market. The region is expected to witness steady growth in the coming years, owing to several factors. One of the key drivers of the infusion therapy market in Europe is the growing prevalence of chronic diseases such as cancer, diabetes, and autoimmune diseases. According to the European Society for Medical Oncology (ESMO), an estimated 3.9 million new cancer cases were diagnosed in Europe in 2020. These patients often require infusion therapy for the management of their conditions, leading to a high demand for infusion therapy products and services. In addition, the region has a large geriatric population, which is more susceptible to chronic diseases and requires regular infusion therapy for their management. The availability of advanced healthcare technologies and skilled healthcare professionals has further fueled the growth of the market in the region. Furthermore, the increasing trend of home healthcare and the availability of advanced home infusion therapy products and services have also contributed to the growth of the market in Europe. Home infusion therapy allows patients to receive their treatments in the comfort of their homes, which can improve patient outcomes and reduce hospital readmissions. However, the region also faces certain challenges that are limiting the growth potential of the market, such as the increasing cost of healthcare and the complex regulatory environment. Nevertheless, the Europe market for infusion therapy is expected to witness steady growth in the coming years, driven by the increasing prevalence of chronic diseases and the growing adoption of home healthcare.
The Asia-Pacific region is the fastest-growing market for infusion therapy globally, with a significant share of the global market. The region is expected to witness robust growth in the coming years, owing to several factors. One of the key drivers of the infusion therapy market in the Asia-Pacific region is the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases. According to the International Diabetes Federation, Asia-Pacific is home to the largest number of people with diabetes, with an estimated 60% of the global diabetic population residing in the region. These patients often require infusion therapy for the management of their conditions, leading to a high demand for infusion therapy products and services. In addition, the region has been witnessing rapid economic growth, which has led to an increase in healthcare expenditure and the development of advanced healthcare infrastructure. This has improved access to healthcare services, including infusion therapy, and increased the demand for advanced healthcare products and services. Furthermore, the increasing trend of home healthcare and the availability of advanced home infusion therapy products and services have also contributed to the growth of the market in the region. Home infusion therapy allows patients to receive their treatments in the comfort of their homes, which can improve patient outcomes and reduce hospital readmissions. However, the Asia-Pacific region also faces certain challenges, such as the lack of skilled healthcare professionals and the underdeveloped healthcare infrastructure in some countries. Nevertheless, the Asia-Pacific market for infusion therapy is expected to witness robust growth in the coming years, driven by the increasing prevalence of chronic diseases, rising healthcare expenditure, and improving healthcare infrastructure.
Global Infusion Therapy Market By Region, 2024-2031
- Largest
- Fastest
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Global Infusion Therapy Market Dynamics
Infusion Therapy Market Drivers
Increasing prevalence of chronic diseases
- The growing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases has led to an increase in the demand for infusion therapy products and services.
Technological advancements in infusion pumps and accessories
- The development of new infusion pumps and accessories with advanced features such as wireless connectivity, improved accuracy, and user-friendliness has led to an increase in the adoption of infusion therapy.
Growing geriatric population
- The growing geriatric population is more prone to chronic diseases and requires continuous monitoring and management, which has led to an increase in the demand for infusion therapy.
Rising demand for home healthcare
- The increasing trend of home healthcare has led to an increase in the demand for infusion therapy products and services that can be used in the comfort of one's home. Growing awareness about the benefits of infusion therapy: The growing awareness about the benefits of infusion therapy such as improved patient outcomes and reduced hospital stay has led to an increase in its adoption.
Infusion Therapy Market Restraints
High cost of infusion therapy
- The high cost associated with infusion therapy products and services is a major restraint in the market, especially in developing countries where access to healthcare is limited.
Complications associated with infusion therapy
- Infusion therapy can lead to complications such as infection, air embolism, and fluid overload, which can limit its adoption in certain patient populations.
Stringent regulatory requirements
- The regulatory requirements for infusion therapy products and services are stringent, which can limit the availability and adoption of these products and services.
Lack of skilled healthcare professionals
- Infusion therapy requires skilled healthcare professionals who can administer the therapy safely and effectively, and the lack of such professionals can limit the adoption of infusion therapy.
Alternatives to infusion therapy
- There are alternative therapies and products available for the management of chronic diseases and other conditions, which can limit the adoption of infusion therapy.
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Global Infusion Therapy Market Competitive Landscape
The global infusion therapy market is highly competitive, with several large and small players operating in the market. These companies are the major players in the global infusion therapy market and are focused on expanding their market share through product innovation, partnerships, and strategic acquisitions.
Infusion Therapy Market Top Player’s Company Profiles
- Baxter International Inc.
- B. Braun Melsungen AG
- Fresenius Kabi AG
- ICU Medical, Inc.
- Smiths Medical, Inc.
- Terumo Corporation
- Becton, Dickinson and Company
- Moog Inc.
- Teleflex Incorporated
- Nipro Corporation
- Hospira, Inc. (A Pfizer Company)
- JMS Co. Ltd.
- AngioDynamics, Inc.
- Zyno Medical LLC
- Mindray Medical International Limited
- Micrel Medical Devices S.A.
- IRadimed Corporation
- Caesarea Medical Electronics Ltd.
- Novo Nordisk A/S
Infusion Therapy Market Recent Developments
- In June 2021, Becton, Dickinson, and Company (BD) announced the launch of its new BD Alaris™ Virtual Monitoring System, which uses predictive analytics to help healthcare providers identify potential infusion errors before they occur.
- In March 2021, Fresenius Kabi announced the launch of its new FREEDOMVIEW™ Infusion System, which provides accurate and reliable infusion therapy in a compact and portable design.
- In April 2021, ICU Medical announced the launch of its new Plum 360™ Infusion System, which features advanced safety features and intuitive touchscreen controls.
- In February 2021, Baxter International announced the launch of its new Spectrum IQ Infusion System, which is designed to simplify the administration of infusion therapy and improve patient safety.
- In November 2021, Terumo Corporation announced the acquisition of Quirem Medical, a leading developer of radio embolization technology for the treatment of liver cancer.
Global Infusion Therapy Key Market Trends
- Growing demand for home infusion therapy: There is an increasing trend towards home-based healthcare services, including home infusion therapy. Patients prefer to receive infusion therapy at home rather than in a hospital or clinical setting, as it provides greater convenience, comfort, and cost savings.
- Technological advancements: The infusion therapy market is witnessing significant technological advancements in infusion pumps and devices, which are enabling greater accuracy, safety, and convenience in the administration of infusion therapy.
- Rise in healthcare expenditure: Governments and private organizations are increasing their healthcare expenditure to improve healthcare facilities and services, which is also contributing to the growth of the infusion therapy market.
Global Infusion Therapy Market SkyQuest Analysis
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 by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global infusion therapy market analyses, the increasing prevalence of chronic diseases, the growing demand for home-based infusion therapy, the rising geriatric population, and the technological advancements in infusion pumps are some of the key drivers of the market growth. The high cost of infusion therapy, the risks associated with infusion therapy, and the lack of trained professionals are some of the major restraints that could hamper the growth of the market. North America dominated the global infusion therapy market in 2021 due to the increasing prevalence of chronic diseases, the growing adoption of home infusion therapy, and the presence of key market players in the region. However, the Asia Pacific region is expected to witness significant growth during the forecast period due to the increasing healthcare expenditure and the growing demand for advanced medical devices. Overall, the global market is expected to witness significant growth during the forecast period due to the increasing prevalence of chronic diseases and the growing demand for home-based infusion therapy. However, the market growth could be hampered by the high cost of infusion therapy and the risks associated with it.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 41.7 billion |
| Market size value in 2031 | USD 78.9 billion |
| Growth Rate | 6.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Infusion Therapy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Infusion Therapy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Infusion Therapy 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 Therapy 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Infusion Therapy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Infusion Therapy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Infusion Therapy Market Report Snapshots
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