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Infusion Pump Market size was valued at USD 13.74 billion in 2019 and is poised to grow from USD 14.7 billion in 2023 to USD 27.03 billion by 2031, growing at a CAGR of 7% in the forecast period (2024-2031).

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. 'Becton, Dickinson and Company (BD)', 'Baxter International Inc.', 'Fresenius Kabi AG', 'Terumo Corporation', 'ICU Medical, Inc.', 'Medtronic plc', 'Smiths Medical (a division of Smiths Group plc)', 'B. Braun Melsungen AG', 'Moog Inc.', 'Halyard Health, Inc.', 'Nipro Corporation', 'Johnson & Johnson', 'Roche Holding AG', 'Tandem Diabetes Care, Inc.', 'Insulet Corporation', 'Ypsomed AG', 'Valeritas Holdings, Inc.', 'Animas Corporation (a subsidiary of Johnson & Johnson)', 'Ambu A/S', 'Mindray Medical International Limited'

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.

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.

Based on region, infusion pump market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. In 2020, the 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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Global infusion pump market

Product ID: SQMIG35A2184

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