The market size of the Global Drug Infusion Systems Market in the year 2021 is valued at 11.64 billion and is predicted to reach 23.27 billion by the year 2030 at 8.3% CAGR during the forecast period.
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An infusion system is a pump used to infuse fluids, nutrients, or medication into a patient’s circulatory system. It’s commonly administered intravenously but also utilized for epidural and arterial infusions on occasion. It’s typically used to manage or treat nervous system illnesses or problems. Several factors contribute to the global infusion system market’s growth, including increased demand for infusion pumps for infusing drugs or other essential fluids, rising prevalence of fatal diseases and chronic diseases, increased demand for infusion pumps in military and medical units, and advancement in technology of these surgical drug infusion systems from key market players. The rising frequency of chronic diseases, the rapid rise in the older population, the rising need for ambulatory infusion pumps, and the increasing volume of surgical procedures performed worldwide are the key factors driving the infusion pumps market forward. However, concerns regarding the systems’ implications, as well as low-income nations’ inability to afford to give such systems to their medical units, are the key factors impeding the worldwide infusion system market’s growth.
List of Prominent Players in the Global Drug Infusion Systems Market:
Braun Melsungen AG
Baxter International Inc.
Becton, Dickinson and Company
Caesarea Medical Electronics Ltd.
Flowonix Medical Inc.
Fresenius SE & Co. KGaA
Halyard Health, Inc.
ICU Medical Inc.
Medtronic Public Limited Company
Smiths Group plc
Tandem Diabetes Care, Inc.
Zyno Medical, LLC”
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In the forecast period of 2019 to 2031, with the rising prevalence of malignancies, chronic illnesses including cardiovascular disorders and type 2 diabetes, and the increasing prevalence of obesity, the need for Medication Infusion Systems for drug delivery will rise, resulting in a rise in the Drug Infusion System market. Furthermore, new developments such as product launches and technologically enhanced Drug Infusion systems are fueling the market’s expansion. In the projection period, other elements such as market development connected to goods, expansions, and mergers and acquisitions will significantly impact the Drug Infusion System market.
In the projection period of 2019 to 2031, the infusion systems market will be restrained by governments’ strict regulations for releasing new product approval. Furthermore, the United States Food and Drug Administration has addressed a letter to infusion system manufacturers highlighting concerns with the controlled release infusion system, which is a massive setback for the global infusion system market’s growth.
North America currently leads the worldwide Drug Infusion System market in terms of revenue share, and it is likely to continue to do so during the forecast period. North America’s dominance, on the other hand, will be openly challenged by the European market. The rising frequency of chronic illnesses such as cardiovascular disorders and type 2 diabetes, the increasing prevalence of obesity, advantageous reimbursement rules, and the presence of all significant important competitors in the North American market are all contributing to this dominance. Furthermore, since this leading business already has a foothold in developed nations, there is plenty of potential for Drug Infusion System market expansion in the Asia Pacific. Furthermore, due to the rising prevalence of diabetes and the presence of essential companies in Asia-Pacific, there has been a boost in demand for Drug Infusion Systems in these regions, positively impacting the overall drug infusion system market.
In June 2020, the Evo IQ Infusion System gained CE certification and regulatory approval from Australia’s Therapeutic Goods Administration, according to Baxter International Inc., a global leader in advanced drug delivery technology (TGA). With the launch of the Evo IQ Infusion System, a wider selection of infusion therapy solutions for different patient groups is now possible.
Segmentation of Global Drug Infusion Systems Market-
By Product Type-
- Large Volume Infusion Systems
- Patient Controlled Analgesia
- Elastomeric Infusion Pumps
- Insulin Infusion Pumps
- Syringe Infusion Systems
- Implantable Infusion Systems
- Ambulatory Infusion Systems
- Enteral Infusion Systems
By Application Type-
- Other Applications
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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