The global infusion pumps market size is expected to reach USD 22 billion by 2030 from at USD 13 billion in 2021, poised to grow at a noteworthy CAGR of 9.5% during the forecast period 2021 to 2030.
Infusion Pumps Market (By Product Type: Insulin Pumps, PCA Pumps, Enteral Pumps; By Application: Diabetes Management, Pain Management, Chemotherapy; By End user: Hospitals, Ambulatory Care Settings, Home Care Settings) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030
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The growing demand for infusion pumps can be attributed to advancements in the domain of medical research. The healthcare industry is characterized by the presence of several complex technologies that need to work in tandem with each other. Patients suffering from chronic illnesses require seamless treatment and care, necessitating the availability of technologies for monitoring, tracking, and medical administration. In recent times, the medical industry has become increasingly focused on ensuring proper dosage and medication. Over dosage or underdosage have been a cause of medical negligence, and have invited flak across the medical industry. Therefore, there is a need to develop scrutineers technologies that help in administering the right amount of medical fluids in the body. In light of the factors mentioned above, it is safe to conclude that the need for infusion pumps in the healthcare sector would increase. Besides, the focus of the medical industry on developing a seamless domain for medical discharge of fluids has also given an impetus to market growth.
Rising Incidence of Chronic Diseases to Propel Demand
The demand within the global market for infusion pumps has been rising on account of the rising geriatric population across the globe. This trend can be explained by the fact that the elderly people are frequently in need of medications that are often administered intravenously rather than orally. Furthermore, chronic diseases such as cancer, diabetes, and cardiovascular disorders often render patients weak and unable to eat which also calls for the use of infusion pumps. The administration of drugs, dextrose, plasma, and saline fluids into the body is done through the use of infusion pumps, and this also enhances the growth prospects of the global market.
High Costs of Ambulatory Implantable Devices to Hamper Growth
Ambulatory implantable devices incur heavy expenses, and this has become a major restrain in the growth of the global market for infusion pumps. Furthermore, healthcare sectors across a number of underdeveloped regions are still barred from the usage of infusion systems due to the limitations of the healthcare sector in these regions. Despite these factors that could hamper the growth of the global market for infusion pumps, the demand within this market is expected to keep soaring as better medical reimbursement policies are introduced by the governments.
Continuous Infusion Pumps to Attract Increased Demand
The user interface of infusion pumps can be detailed according to the end-use of these pumps. It has come to the attention of the medical sector that continuous fusion devices are the need of the hour across the healthcare sector. These pumps can ensure continuous pulses of infusion, ranging between 500 nanolitres and 10 millilitres. Furthermore, use of continuous fusion devices helps in programming infusion speeds at the end of healthcare professionals. The sale of continuous infusion pumps is expected to supersede the demand for intermittent infusion pumps over the next few years. The timing of infusion can be altered across the latter, and this is an important dynamic of market growth and maturity. The blood vessels of the human body can experience irritation due to irregulated administration of fluids. Therefore, it is important to develop high-performance infusion pumps. Pain management, diabetes management, and chemotherapy are some of the common applications of infusion pumps.
North America to Lead Market Expansion
On the basis of regions, the global infusion pumps market can be segmented into South America, North America, Europe, Asia Pacific, and the Middle East and Africa. The growth of the medical industry in China and India has given a thrust to the growth of the Asia Pacific market. Besides, there is little contention about the emergence of new technologies that can help in managing the humongous load of patients across the healthcare industry of these regions. The North America infusion pumps market has been at the forefront of market growth and maturity. Medical research practices followed across the US have changed the fortunes of the healthcare industry in the region. Several research lines for treatment of various chronic diseases are underway across the US.
Key Players
Some of the prominent players operating in the global infusion pumps market are ICU MEDICAL, INC., Smiths Medical, Tandem Diabetes Care, Inc., and Medtronic plc.
Report Scope of the Infusion Pumps Market
| Report Coverage | Details |
| Market Size | US$ 22 Billion by 2030 |
| Growth Rate | CAGR of 9.5% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Companies Mentioned | ICU MEDICAL, INC., Smiths Medical, Tandem Diabetes Care, Inc., and Medtronic plc. |
Market Segmentation
The study objectives of this report are:
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