Infusion Pumps Market Is Projected to Value at a CAGR of 8.4% Globally, by 2031: States Coherent Market Insights
Infusion Pumps Market Share
Market Overview:
Infusion pumps are medical devices used for controlled delivery of fluids, such as nutrients, medications, blood, and blood products into a patient's body in measured quantities. They are used for a variety of clinical applications including chemotherapy, anesthesia management, pain management, and drug administration.
Market Dynamics:
The Infusion Pumps Market is projected to witness significant growth over the forecast period owing to the growing prevalence of chronic diseases worldwide and rising geriatric population. According to estimates by WHO, chronic diseases accounted for approximately 60% of all deaths globally in 2020. With the increasing incidences of chronic conditions such as cancer, diabetes and cardiovascular diseases, long-term care requirements have increased significantly. This is expected to propel the demand for infusion pumps which are used to deliver drugs and fluids continuously in chronic treatment regimens. Furthermore, technological advancements in infusion devices have enabled precision and automation in drug delivery. Enhanced features such as touch screens, improved programmability and connectivity in new generation pumps are also fueling their adoption rates.
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The following manufacturers are covered in this report:
BD, Fresenius Kabi, ICU Medical, Smiths Medical, Medtronic, and B. Braun Melsungen, among others.
Segment Analysis :
By Product: Large Volume Infusion Pumps, Syringe Infusion Pumps, Insulin Pumps, Enteral Feeding Pumps, Elastomeric Pumps, and Implantable Pumps
By Technology: Traditional and Specialty
By Usage: Stationary and Ambulatory
By Application: Oncology, Diabetes, Gastroenterology, Pediatrics and Neonatology, Pain Management, and Others
By End User: Hospitals, Home Healthcare Settings, Nursing Homes and Others
Major Growth Drivers for the Infusion Pumps Market
Increasing Prevalence of Chronic Diseases Driving Demand for Infusion Pumps
The rising prevalence of chronic diseases such as cancer, diabetes and cardiovascular diseases across the globe has significantly contributed to the growth of the infusion pumps market. Infusion pumps help in the administration of antibiotics, nutrients, chemotherapy drugs and pain medication in a controlled manner to patients suffering from chronic conditions. According to statistics by the World Health Organization, chronic diseases accounted for over 70% of all deaths worldwide in 2015. With chronic diseases affecting millions each year, the demand for infusion pumps from hospitals and home healthcare settings will continue to increase in the coming years.
Advancements in Ambulatory and Portable Infusion Pump Technologies
Continuous technological advancements in ambulatory and portable infusion pump devices have enabled improved delivery of medications and expanded their applications. The development of compact, wearable and wireless infusion pumps has improved patient mobility and facilitated easy administration of drugs outside of healthcare facilities. These modern infusion pumps provide greater convenience to users and promote patient compliance with treatments. Their uptake is being driven by rising focus on home healthcare to avoid hospitalizations. Novel product launches catering to home infusion needs will augment the infusion pumps market size going forward.
Restraining Factor for the Infusion Pumps Market
High Cost of Advanced Infusion Pumps Hindering Adoption in Budget-Constrained Healthcare Systems
While the benefits offered by technologically sophisticated infusion pumps are immense, their overall cost of ownership remains a major concern, especially in developing nations. Advanced infusion devices equipped with advanced features such as wireless connectivity and customizable drug libraries are quite expensive. The high acquisition cost along with additional expenses associated with maintenance, repairs, software upgrades and technical support can strain the budgets of public healthcare providers in low and middle-income countries. The high capital expenditure requirement has slowed down the replacement of outdated pumps with new generation systems in certain regions. This acts as a key restraint on the infusion pumps market growth globally.
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Market Opportunity for the Infusion Pumps Market
Growing Demand for Ambulatory Infusion Pumps in Home Care Settings
The rise in home healthcare practices represents a lucrative opportunity for players in the infusion pumps market. Owing to the convenience and cost-effectiveness of home care, the demand for small, lightweight ambulatory infusion devices is increasing among patients requiring long-term medication administration. The COVID-19 pandemic has further accelerated the shift towards home-based care, creating more opportunities for home infusion pumps. Market participants can capitalize on this trend by launching affordable, easy-to-use ambulatory pumps integrated with safety alarms and remote monitoring capabilities. Expanding into underserved homecare markets through customized product offerings will help boost revenue streams from the home segment.
Notable Trend in the Infusion Pumps Market
Increasing Adoption of Specialized Infusion Systems
Technological innovations have allowed infusion pumps to cater to highly specialized therapy areas with the development of targeted infusion systems. There is growing adoption of implantable port systems, enteral nutrition pumps, insulin pumps, patient-controlled analgesic pumps, ambulatory chemotherapy delivery pumps and Total Parenteral Nutrition (TPN) delivery systems. These customized systems often integrate advanced functionalities tailored for specific clinical conditions. The rising complexities in disease management and treatment protocols are encouraging the uptake of application-based infusion systems. This trend towards specialized pumps with superior functionalities is expected to significantly influence the infusion pumps market dynamics in the upcoming years.
Market Geography:
➤North America (U.S., Canada, Mexico)
➤Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
➤Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
➤Latin America (Brazil, Argentina, Rest of LA)
➤Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Reasons to Purchase:
◈To gain insightful analyses of the market and have a comprehensive understanding of the Infusion Pumps Industry Analysis and Forecast 2024-2031” and its commercial landscape
◈Learn about the market strategies that are being adopted by your competitors and leading organizations
◈To understand the future outlook and prospects for Infusion Pumps market analysis and forecast 2024-2031.To assess the ◈growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.
◈The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research.
◈The report provides a detailed overview of the business with both qualitative and quantitative information.
◈It provides scope and forecast of the global Infusion Pumps market based on various segments.
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
✦Which are the driving factors responsible for the growth of market?
✦What are the new opportunities, by which market will grow in coming years?
✦What are the trends of this market?
✦Which are main factors responsible for new product launch?
✦How big is the global & regional market in terms of revenue, sales and production?
✦How far will the market grow in forecast period in terms of revenue, sales and production?
✦Which region is dominating the global market and what are the market shares of each region in the overall market in 2024?
✦How will each segment grow over the forecast period and how much revenue will these segments account for in 2031?
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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