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Growing number of surgical procedures is a significant factor driving global infusion pump market revenue growth

VANCOUVER, B.C, CANADA, June 15, 2023/EINPresswire.com/ -- The global infusion pump market size is expected to reach USD 18.22 Billion in 2030 and register a steady revenue CAGR of 7.3%, according to latest analysis by Emergen Research. The global infusion pump market has been experiencing significant growth in recent years, driven by various factors and supported by government statistics. Infusion pumps are medical devices used to deliver fluids, such as medications or nutrients, into a patient's body in a controlled manner. They play a crucial role in modern healthcare, with applications in hospitals, clinics, and home healthcare settings.

One of the key drivers of the infusion pump market is the increasing prevalence of chronic diseases worldwide. Conditions like cancer, diabetes, and cardiovascular disorders often require long-term medication or fluid therapy, which can be efficiently administered through infusion pumps. Moreover, the aging population is growing, and elderly individuals are more susceptible to chronic diseases, thereby contributing to the rising demand for infusion pumps.

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The market's growth is also fueled by advancements in healthcare technology. Manufacturers have been developing technologically advanced infusion pumps with improved safety features, precise drug delivery mechanisms, and user-friendly interfaces. Integration with electronic health record (EHR) systems has streamlined the administration process and reduced the chances of errors. These advancements have resulted in increased adoption of infusion pumps across various healthcare settings.

While the infusion pump market has seen positive growth trends, it faces certain restraints. One significant challenge is the high cost associated with these devices. Infusion pumps can be expensive to purchase, and the maintenance and service costs further add to the financial burden. This cost factor can limit the adoption of infusion pumps, particularly in regions with limited healthcare budgets. Additionally, concerns related to the safety and accuracy of infusion pumps have been raised. Instances of medication errors or pump malfunctions have prompted regulatory scrutiny and the need for stricter safety standards.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Infusion Pump market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report are:

Medtronic, Baxter, B. Braun SE, BD, Fresenius Kabi AG, Tandem Diabetes Care, Inc., vTitan Corporation Pvt. Ltd., Smiths Group plc., ICU Medical, Inc., and Terumo Corporation.

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Some Key Highlights From the Report

Smiths Medical, a leader in the field of medical devices, announced an exclusive partnership with Ivenix, Inc. on May 4, 2021. As a result, Smiths Medical will be the first company in the United States to provide a full range of infusion management solutions to fulfil healthcare demands across the continuum of care. Infusion management will be improved as a result of this long-term cooperation, which involves a strategic investment from Smiths Medical. This will increase patient safety and fulfil present-day and future demands from healthcare professionals.

During the projected period, the insulin pump segment is anticipated to contribute the biggest revenue share. This is due to an increase in the number of people with type 1 diabetes globally, an increase in the use of patient-controlled analgesia (PCA) pumps for pain management, and the introduction of innovative technologies for insulin pumps. For instance, on November 15, 2022, Medtronic plc., a leader in healthcare technology, announced the introduction of the first-ever, single-use infusion set called the Medtronic Extended in the United States.

Due to the rising prevalence of the condition and recent product introductions in this market, the diabetes segment is anticipated to account for a sizable portion of total revenue over the forecasted period. For instance, diabetes in 2021 affected 537 million people between the ages of 20 and 79. By 2030, there will be 643 million people with diabetes worldwide, and by 2045, there will be 783 million. Diabetes patients may find it easier to regulate their blood sugar levels with the help of insulin pumps, which provide doses of insulin periodically. Diabetes prevalence is increasing, which is fueling this segment's market revenue growth.

Emergen Research has segmented the global infusion pump devices market based on type, application, end-use, and region:

Type Outlook (Revenue, USD Billion; 2019–2030)

Volumetric Pumps

Syringe Pumps

Elastomeric Pumps

Insulin Pumps

Enteral Pumps

Implantable Pumps

Patient Control Analgesia (PCA) Pumps

Application Outlook (Revenue, USD Billion; 2019–2030)

Diabetes

Oncology

Pain Management

Others

End-Use Outlook (Revenue, USD Billion; 2019–2030)

Hospitals

Ambulatory Care Settings

Specialty Clinics

Home Care Settings

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Regional Bifurcation of the Infusion Pump Market Includes:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Global Infusion Pump Market Report – Table of Contents:

Chapter 1 includes the global Infusion Pump market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.

Chapter 2 broadly categorizes the Infusion Pump market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.

Chapter 3 elaborates on the competitive outlook of the Infusion Pump market, focusing on the major manufacturers and vendor landscape.

Chapter 4 exhaustively studies the key manufacturers of the Infusion Pump industry, along with their anticipated sales and revenue shares.

Chapters 5 includes market segmentation based on product type, application range, and market players.

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