Infusion Pump Market Size, Growth and Trends Analysis By Type (Volumetric Pump and Syringe Pump), By Application (Chemotherapy, Diabetes, Gastrointestinal Diseases, Pediatrics), Key Players and Region, Forecast To 2023
Market Insights
Global Infusion Pump Market size is expected to reach USD 9.71 billion and set to attain a CAGR of 5% during the forecast period. Infusion pumps are the medical devices used for drug delivery or nutrients to the body. Infusion pumps offer a controlled amount of fluids and are therefore useful for administering medications in diseases such as diabetes. infusion pump market is expected to propel growth based on rising prevalence of diseases such as diabetes and cancer. In addition to this, growing geriatric population and technological progress, have also spurred the infusion pump market growth.
infusion pump market is projected to grow rapidly owing to rising use of infusion pumps for the administration of medication and other fluids, the increased prevalence of chronic and life-threatening diseases, the high demand for infusion systems in military medical facilities, and the technological progress of the most important players in the market. In addition, factors such as patient safety and insufficient infusion with serious consequences, unmet medical needs in low-income countries, restraints market growth.
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Infusion Pump Market Segmentation
The global infusion pump market is broadly bifurcated based on
- Type
- Application
- End user
The type segment is divided into syringe pump, volumetric pump, and Others.
based on application, the global infusion pumps market is bifurcated into gastrointestinal diseases, diabetes, chemotherapy, pediatrics and others.
Moreover, the global infusion pumps market is also segmented based on end-users into hospitals, ambulatory surgical centers, homecare, and others.
Infusion Pumps Regional Insights
North America has an influential hold in the global infusion pumps market share. It contributes to about 41% of the global market. The United States and Canada make the largest contribution to the North American infusion pump market. Due to the huge diabetic population and the growing aging population in this region, this is the main growth factor of this market in the United States and Canada. According to the Center for Disease Control and Prevention, 29 million people have diabetes in America in 2014, representing about 9% of the total population of North and South America. In addition, the significant aging of the population in America, especially in Canada, is the most important factor in the growth of the North American infusion pumps market. In addition to this improvement in the healthcare industry and the increased demand for infusion pumps are also some of the factors stimulating the growth of the market.
Europe is the second-largest infusion pumps market. The European infusion pump market is fueled by the growing burden of diabetes and cancer-related diseases, the growing demand for infusion pumps in home-care patients, and the growing geriatric population. About 10% of the total European population suffers from diabetes, and 20% of cancer deaths worldwide occur in Europe. Due to the increasing prevalence of diseases such as diabetes and cancer in Europe, it is the most important factor for the growth of the market. France, Germany, and the United Kingdom make the largest contribution to this market in Europe. Approximately 70% of the total European infusion pump market is occupied by these three countries.
The Asia Pacific region is the rapidly emerging region in the infusion pump market. Owing to the rapid development of the healthcare industry and the steady surge in the diabetes population, the global infusion pumps market is likely to gain flourishing outcomes during the forecast period. The huge population of this region has attracted many of the largest companies to develop their market in this region.
Market Players
The presence of many small and medium enterprises in the market has created competition. And so large companies buy and merge with small businesses to minimize competition and expand in the market. The key players influencing the global infusion pumps market through their product portfolio include Johnson & Johnson, Baxter International, Inc., CareFusion Corporation, Roche Diagnostics, Stryker, Pfizer, Inc., Hospira, Inc, Mircel Medical Device, 3M, ICU Medical, Inc., Terumo Medical Corporation, Micromed, Fresenius Kabi, Moog Inc, Flowonix Medical Inc, Q-Core, B. Braun Melsungen AG, Becton Dickinson & Company, Medtronic plc, and Asante.
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Recent Updates
A Germany-based medical device and instrument company declared deployment and integration of Space™ Infusion Pump Systems with a collaboration with software platform, Aeroscout® RTLS MobileView developed by STANLEY Healthcare. The alliance between STANLEY Healthcare and B.Braun will assist in providing superior patient safety, increasing staff efficiency, and optimize asset utilization through a bi-directional interface capable solution.
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