Meticulous Research®—a leading global market research company, published a research report titled, ‘Infusion Pumps Market by Type (Volumetric, Syringe, Insulin, Ambulatory [Disposable, Chemo] Implantable), Channel (Single, Multi) Application (Oncology, Pain, Diabetes, Hematology, Pediatrics) End User (Hospital, Ambulatory Care) - Global Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the infusion pumps market is projected to reach $25.9 billion by 2030, at a CAGR of 8.3% during the forecast period. The growth of this market is driven by the rising demand for ambulatory infusion pumps, the increasing incidence of chronic diseases, the rapid growth in the geriatric population, the growing number of surgical procedures performed, and increased awareness of home healthcare. However, frequent product recalls of infusion pumps, increasing adoption of refurbished and rental infusion pumps, and stringent regulatory requirements for new product concerns are restraining the growth of this market.
Furthermore, the emerging markets and growing adoption of specialty infusion systems such as IOT infusion pumps pose significant opportunities for infusion pumps. However, the increasing incidence of medication errors and lack of wireless connectivity in hospitals are challenges to the growth of this market.
Key Players
The key players operating in the infusion pumps market are Becton, Dickinson and Company (BD), B. Braun SE (Germany), Baxter International Inc. (U.S.), Fresenius SE&Co. KGaA. (Germany), ICU Medical, Inc. (U.S.), Medtronic plc (Ireland), MOOG Inc. (U.S.), Terumo Corporation (Japan), F. Hoffmann-LA Roche Ltd (Switzerland), and Insulet Corporation (U.S.).
Infusion Pumps Market: Future Outlook
The infusion pumps market is segmented by Product Type [Devices (By Type {Volumetric Infusion Pumps, Syringe Infusion Pumps, Insulin Infusion Pumps, Ambulatory Infusion Pumps {Disposable Infusion Pumps and Chemotherapy Infusion Pumps} Enteral Infusion Pumps, PCA Infusion Pumps, Implantable Infusion Pumps}, Devices by Mode {Manual Infusion Pumps, Automatic Infusion Pumps}), Infusion Pump Accessories/Consumables], Channel [Single Channel Infusion Pumps, Multi-Channel Infusion Pumps], Application [Diabetes Management, Oncology, Pain Management, Hematology, Neonatology/Pediatrics, Gastroenterology] End User [Hospitals & Clinics, Home Health Care, Academic & Research Institutes, Ambulatory Care Settings, and Nursing Homes], and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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In 2023, the infusion pump accessories/consumables segment is expected to account for the largest share of the infusion pumps market. Factors such as the increasing use of infusion pumps in ambulatory centers, rising demand for accessories/consumables in home healthcare, and the recurring nature of infusion pump accessories/consumables are driving the segment's growth.
In 2023, the multi-channel infusion pumps segment is expected to account for the largest share of the infusion pumps segment based on channel. Factors such as the ability of multi-channel pumps to deliver more than one fluid at a particular time without monitoring, technological advancements in multi-channel infusion pumps, and reduced healthcare professionals’ efforts in continuously monitoring the medications are driving the segment's growth.
In 2023, the oncology segment is expected to account for the largest share of the infusion pumps segment based on applications. A surge in cancer patients, increasing number of patients receiving chemotherapy, and ease of using portable chemotherapy infusion pumps are factors leading to the largest share of the segment.
In 2023, the hospitals & clinics segment is expected to account for the largest share of the infusion pumps segment based on end users. Factors such as the increasing hospital admissions with patients suffering from chronic diseases and rising adoption of infusion pumps due to their multiple advantages, unlike manual IV setup. Additionally, the adoption of infusion pumps in hospitals drastically increased during the COVID-19 pandemic, as infusion pumps enabled automatic, reliable, and contact-free dosing to patients with severe cases. These factors are leading to the largest share of the segment.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
In 2023, North America is expected to account for the largest share of the infusion pumps market, followed by Europe and Asia-Pacific. Furthermore, in 2023, the U.S. is expected to be the largest market shareholder in North America. The growth of this market is primarily attributed to the high adoption of advanced technologies, high literacy among the population for the adoption of advanced portable infusion pumps, and high government spending on the healthcare sector.
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Key questions answered in the report:
• What are the high-growth market segments regarding product type, channel, application, end user, and region/country?
• What was the historical market size for infusion pumps globally?
• What are the market forecasts and estimates for 2023–2030?
• What are the major drivers, restraints, challenges, and opportunities in the infusion pumps market?
• Who are the major players in the global infusion pumps market?
• How is the competitive landscape, and who are the market leaders in the global infusion pumps market?
• What are the recent developments in the infusion pumps market?
• What strategies are adopted by the major players in the infusion pumps market?
• What are the geographical trends and high-growth regions/countries?
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