The infusion pump market is expected to grow at a CAGR of 5.71% from US$9.547 billion in 2022 to US$14.083 billion in 2029.

NOIDA, UTTAR PARDESH, INDIA, December 26, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the infusion pump market is projected to grow at a CAGR of 5.71% between 2022 and 2029 to reach US$14.083 billion by 2029.

Increasing health-care spending is a driving factor in the growth of the infusion pump market. The growing prevalence of chronic diseases, diabetes, and digestion problems increased health expenditures which increased the usage of infusion pumps. For instance, according to the World Health Organization, global spending on health care continually increased between 2000 and 2021 and reached up to US$ 1177.

Infusion pumps are medical devices that deliver fluids into a patient's body in controlled amounts, such as nutrients and medications. They are widely used in healthcare facilities such as hospitals, nursing homes, and at home to provide diabetes care, liquid medication, and pain management.

Multiple product launches and collaborations are taking place in the market thereby fuelling the infusion pump market growth. For instance, in February 2023, Mindray introduced its BeneFusion I Series and U Series infusion systems, which feature high precision, adaptive customization, and exceptional simplicity to ensure medication safety in a variety of clinical settings. Additionally, in June 2023, Heal Force introduced a newly launched Heal Force hawk-i1 Infusion Pump and hawk-s1 Syringe Pump to enhance alarm monitoring and offer multiple infusion methods.

Access sample report or view details: https://www.knowledge-sourcing.com/report/infusion-pump-market

The infusion pump market, based on type is segmented into three main categories namely insulin pump, PCA pump, and enteral pump. Insulin pumps are beneficial for patients with diabetes and account for a major share of the infusion pump market.

The infusion pump market, based on the mechanism is segmented into five main categories namely syringe pump, elastomeric pump, peristaltic pump, multi-channel pump, and smart pump. Syringe pumps due to their cost-efficiency are in high demand and therefore account for a major share of the infusion pump market.

The infusion pump market, based on application is segmented into six main categories namely chemotherapy, gastroenterology, diabetes, pain management, haematology, and others. Chemotherapy is growing rapidly and accounts for a major share of the infusion pump market.

North America is expected to contribute to a significant portion of the infusion pump market due to the growing healthcare spending. For instance, according to the Centers for Medicare & Medicaid Services, healthcare spending in the United States increased by 4.1 percent to $4.5 trillion, or $13,493 per person in 2022 and health spending accounted for 17.3 percent of the nation's Gross Domestic Product. Additionally, according to the Canadian Institute for Health Information, total Canadian health spending is expected to reach $344 billion in 2023, or $8,740 per Canadian. Moreover, the booming geriatric population and improvement in pain reliever device technology are acting as an additional driving factor.

The research includes coverage of Baxter International Inc., Dickinson and Company, Braun Melsungen AG, Johnson & Johnson, Medtronic Inc., Nipro Corporation, Biomedix Medical, Eitan Medical, Smiths Medical, Terumo Corporation are significant market players in the infusion pump market.

The market analytics report segments the infusion pump market using the following criteria:

• By Type

o Insulin Pump
o PCA Pump
o Enteral Pump

• By Mechanism

o Syringe Pump
o Elastomeric Pump
o Peristaltic Pump
o Multi-channel Pump
o Smart Pump

• By Application

o Chemotherapy
o Gastroenterology
o Diabetes
o Pain Management
o Hematology
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• China
• Japan
• South Korea
• India
• Taiwan
• Indonesia
• Thailand
• Others

Companies Profiled:

• Baxter International Inc.
• Dickinson and Company
• Braun Melsungen AG
• Johnson & Johnson
• Medtronic Inc.
• Nipro Corporation
• Biomedix Medical
• Eitan Medical
• Smiths Medical
• Terumo Corporation

Explore More Reports:

• Human Insulin Market: https://www.knowledge-sourcing.com/report/human-insulin-market

• Insulin Storage Devices Market: https://www.knowledge-sourcing.com/report/insulin-storage-devices-market

• Global Insulin Delivery Devices Market: https://www.knowledge-sourcing.com/report/global-insulin-delivery-devices-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.