Infusion Pumps Market Global Trends, Industry Size, Leading Players, Covid-19 Business Impact, Future Estimation And Forecast 2030

Published: 2024-09-05
Views: 82
Author: Shitalmax
Published in: Health & Fitness

Infusion Pumps Market Overview

The Infusion Pumps Market are medical devices used to deliver fluids, including nutrients and medications, into a patient’s body in controlled amounts. They are commonly used in clinical settings such as hospitals and nursing homes, but they are also used in homes. Infusion pumps are essential for the administration of medications, including those that require precise dosing over extended periods, such as chemotherapy, diabetes management, and pain relief. The global infusion pumps market was valued at USD 10.79 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2030, reaching approximately USD 19.47 billion by 2030.

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Report Scope:

This report provides a comprehensive analysis of the global infusion pumps market, focusing on market dynamics, segmentation, and regional analysis. The report also covers the impact of the COVID-19 pandemic on the market, along with an in-depth examination of the factors driving market growth, including technological advancements, increasing prevalence of chronic diseases, and the growing number of surgical procedures. The scope of the report includes both market trends and opportunities for key players and stakeholders.

Drivers:

The primary drivers of the infusion pumps market include the rising prevalence of chronic diseases such as cancer and diabetes, the increasing number of surgical procedures worldwide, and advancements in infusion pump technologies. Chronic diseases often require long-term treatment regimens, making infusion pumps an integral part of patient care. For instance, the increasing number of cancer cases globally is driving the demand for infusion pumps, as chemotherapy often requires continuous and precise drug delivery. Additionally, the growing aging population and the rising incidence of obesity and associated lifestyle diseases are contributing to the increased use of infusion pumps.

Another significant driver is the technological advancements in infusion pump devices. Manufacturers are focusing on developing smart infusion pumps with advanced features such as drug libraries, dose error reduction systems, and wireless connectivity, which enhance patient safety and improve the efficiency of healthcare delivery. The development of portable and ambulatory infusion pumps is also gaining traction, offering patients more mobility and flexibility during treatment.

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Key Players: The key players are

1. Becton, Dickinson and Company (US)
2. Baxter International Inc. (US)
3. ICU Medical, Inc. (US)
4. Smiths Medical (US)
5. Moog Inc. (US)
6. Avanos Medical, Inc. (US)
7. Insulet Corporation (US)
8. Tandem Diabetes Care (US)
9. InfuTronix Solutions LLC (US)
10. Zyno Medical LLC (US)
11. Teleflex, Inc. (US)
12. CODAN Medizinische Geräte GmbH & Co KG (Germany)
13. B. Braun (Germany)
14. Fresenius Kabi (Germany)
15. Medtronic PLC (Ireland)
16. Ypsomed Holding AG (Switzerland)
17. Roche Diagnostics (Switzerland)
18. Micrel Medical Devices SA (Greece)
19. Nipro Corporation (Japan)
20. Terumo Corporation (Japan)
21. JMS Co., Ltd. (Japan)
22. SOOIL Development Co., Ltd. (South Korea)
23. Shenzhen MedRena Biotech Co., Ltd. (China)
24. Mindray Medical International Limited (China)
25. Epic Medical (Singapore)

Segmentation:

Product Type: The market is segmented into volumetric infusion pumps, insulin infusion pumps, enteral infusion pumps, syringe infusion pumps, and others. Volumetric infusion pumps held the largest market share in 2023 due to their ability to deliver precise volumes of fluids at varying speeds, making them suitable for a wide range of medical conditions.

Application: Key application areas include chemotherapy, gastroenterology, pain management, and diabetes. The demand for infusion pumps in pain management and chemotherapy is particularly high, as these applications require precise and continuous drug delivery.

End-User: The primary end-users of infusion pumps include hospitals, home care settings, and ambulatory care centers. Hospitals dominate the market, driven by the high volume of surgical procedures and the need for continuous patient monitoring.

by Type

Volumetric Pumps
Syringe Pumps
Elastomeric Pumps
Insulin Pumps
Enteral Pumps
Implantable Pumps
Patient Control Analgesia (PCA) Pumps

by Application

Chemotherapy/Oncology
Diabetes Management
Gastroenterology
Pain Management Analgesia
Pediatrics/ Neonatology
Hematology
Other Applications

by End-User

Hospitals
Home Care Settings
Ambulatory Care Settings
Academic and Research Institutes

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Infusion Pumps Market Regional Analysis

North America is expected to continue leading the market, with the United States being the largest contributor. The high prevalence of chronic diseases, combined with an advanced healthcare system and significant investments in healthcare infrastructure, drives the demand for infusion pumps in this region. Europe is also a significant market due to the increasing adoption of innovative medical devices and the growing geriatric population.

The Asia-Pacific region is projected to witness the fastest growth during the forecast period, driven by the increasing healthcare expenditure, rising awareness about chronic disease management, and improving healthcare infrastructure. Countries like China and India are expected to offer lucrative opportunities for market players due to the large patient population and the increasing demand for advanced healthcare solutions.

COVID-19 Impact Analysis:

The COVID-19 pandemic had a significant impact on the infusion pumps market. During the peak of the pandemic, the demand for infusion pumps surged due to the increased number of hospitalizations and the need for critical care. Infusion pumps were essential for delivering medications and fluids to COVID-19 patients, particularly in intensive care units (ICUs). The U.S. Food and Drug Administration (FDA) issued emergency use authorizations (EUAs) to increase the availability of infusion pumps and accessories during the pandemic, further driving market growth.

The pandemic also accelerated the adoption of advanced infusion technologies, as healthcare providers sought to enhance patient care and reduce the risk of medication errors. The increased focus on infection control and the need for remote monitoring of patients also contributed to the rising demand for smart infusion pumps.

Key Questions Answered:

• What will be the CAGR of the Infusion Pumps market during the forecast period?
• Which segment emerged as the leading segment in the Infusion Pumps market?
• Who are the prominent players in the Infusion Pumps market?
• What will be the Infusion Pumps market size by 2027?
• Which company held the largest share in the Infusion Pumps market?

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