New York, October 05, 2021 – Reports and Data has published its latest report titled “Infusion Pump Market, By Product Type (Accessories & Consumables, Devices), By Application (Diabetes, Chemotherapy/Oncology, Gastroenterology, Analgesia/Pain Management, Hematology, Others), By End-use (Hospitals, Home Care Settings, Ambulatory Care Settings, Academic & Research Institutes), And Region – Global Forecast To 2028”
Growing prevalence of chronic diseases such as diabetes, cancer, and gastroenterological disorders, and increasing use of portable infusion pumps in home care settings are major factors driving market growth
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According to Reports and Data, the global infusion pump market size was USD 12.84 billion in 2020 and is expected to reach USD 21.66 billion in 2028 and register a revenue CAGR of 7.2 % during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Infusion pumps are medical devices used to infuse medication, fluids, or nutrients into the circulatory system of a patient, mostly, intravenously. The devices are generally used to administer insulin, antibiotics, pain relievers, or chemotherapy drugs. Infusion pumps are extensively used for faster drug administration in patients to provide them timely relief. These devices are available in two forms – stationary and portable infusion pumps. Growing demand for portable (often, wearable) infusion pumps owing to their various advantages over the stationary infusion pumps is a key factor driving the global infusion pump market growth.
Revenue growth of the global infusion pump market is significantly driven by growing prevalence of chronic and acute diseases such as diabetes, cancer, and various cardiovascular, respiratory, and gastroenterological disorders. Rise in global geriatric population, growing trend of home healthcare, increasing demand for ambulatory or portable infusion pumps for home care settings, and increasing applications in surgical procedures are other key factors expected to boost the global infusion pump market revenue growth during the forecast period. Technological enhancements in infusion pumps are further expected to drive market growth.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Chemotherapy Application Segment to Account for Largest Revenue Share:
Based on application, the chemotherapy segment is expected to account for the largest revenue share in the global infusion pump market over the forecast period. Increasing prevalence of cancer globally, growing rate of hospital admissions, and increasing use of ambulatory infusion pumps in home care settings are the key factors driving revenue growth of this segment.
Hospitals Segment to Dominate Other End-use Segments:
Among end-use segments, the hospitals segment is projected to register the fastest revenue growth rate over the forecast period, owing to factors such as growing prevalence of cancer and various cardiovascular and gastroenterological disorders, growing patient pool, rising number of surgical procedures, and increasing use of high-end, technologically advanced infusion equipment in hospitals.
North America Accounted for a Significantly Large Revenue Share in 2020:
Among regional markets, North America accounted for the largest revenue share contribution in the global infusion pump market in 2020. Rising geriatric populace, growing prevalence of acute and chronic diseases, growing use of portable infusion pumps in home care settings, and presence of advanced healthcare infrastructure in the region are major drivers for the North America market revenue growth.
Asia Pacific to Lead in Terms of Revenue CAGR:
The Asia Pacific infusion pump market is projected to register the fastest revenue CAGR over the forecast period. Introduction of highly advanced, specialty infusion pumps, growing use of these devices across home care settings and ambulatory care centers, and rising need for faster drug administration in patients for quicker recovery are key factors driving the Asia Pacific infusion pump market growth.
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Major Companies in the Market Include:
- Becton, Dickinson and Company
- Braun Melsungen AG
- Baxter International Inc.
- Fresenius Kabi
- ICU Medical, Inc.
- Smiths Medical Inc.
- Medtronic Plc
- Moog Inc.
- Terumo Corporation
- Avanos Medical, Inc.
For the purpose of this report, Reports and Data has segmented the global infusion pump market based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Accessories & Consumables
Application Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Analgesia/Pain Management
End-use Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Home Care Settings
- Ambulatory Care Settings
- Academic & Research Institutes
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Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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