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Infusion Pump Market Research Report 2023
Infusion Pump Market Size by Type (Volumetric Infusion Pumps, Syringe Infusion Pumps, Patient Controlled Analgesia Infusion Pumps), Application (Oncology, Parenteral Nutrition, Pain Management, Others), End User (Hospitals & Clinics, Home Healthcare, Others), And Region Global Market Analysis and Forecast, 2023-2032
Infusion Pump Market Synopsis
The global market for Infusion pumps estimated at USD 13156.28 Million in 2023 is projected to reach a revised size of USD 22030.89 Million by 2030, growing at a CAGR of 9.10% over the period 2023-2030.
An infusion pump is a medical device that delivers fluids, such as nutrients and medications, into a patient's body in controlled amounts. Infusion pumps are in widespread use in clinical settings such as hospitals, nursing homes, and in the home
- An infusion pump is a medical device used to deliver fluids, medications, and nutrients directly into a patient's bloodstream. This device is commonly used in hospitals, clinics, and other healthcare facilities for controlled and precise dispensing of fluids and medications. Infusion pumps can be mechanical or electronic and can be programmed to deliver fluids and medications at specific rates and amounts.
- One of the main advantages of infusion pumps is their ability to administer fluids and medications consistently and accurately. This reduces the risk of medication errors and ensures that patients receive the correct dose. In addition, infusion pumps can be used to continuously administer drugs and fluids for long periods of time, making them important tools in the treatment of chronic diseases and intensive care.
- Infusion pumps must be calibrated and maintained regularly to ensure safe and accurate dosing of medications and fluids. There are risks associated with using infusion pumps, such as the risk of infection or incorrect dosing, but these risks can be minimized with proper training and following safety guidelines.
Top Key Players Involved Are:
"Braun Melsungen AG (Germany), Becton, Dickinson, and Company (U.S.), IRadimed Corporation (U.S.), Baxter International Inc. (U.S.), ICU Medical, Inc. (U.S.), Tandem Diabetes Care, Inc. (U.S.), ICU Medical, Inc. (U.S.), Medtronic (Ireland), Smith Medical (U.S.), Terumo Corporation (Japan), Hoffmann-La Roche Ltd. (Switzerland), Fresenius SE & Co. KGaA (Germany), Mindray (India), and Other Major Players."
The Infusion Pump Market Trend Analysis
Growing Prevalence of Chronic Diseases
- Increase in chronic diseases is a major factor in the growth of the infusion pump market. Infusion pumps are used to deliver medications, fluids, and other substances directly into a patient's bloodstream, making them an important tool in the treatment of many chronic conditions. Chronic diseases such as diabetes, cancer, and cardiovascular disease are becoming more common worldwide. As a result, the demand for infusion pumps is increasing.
- Apart from the increase in the prevalence of chronic diseases, the proliferation of portable infusion pumps, technological advancements in the design and functionality of infusion pumps, and the growing demand for home healthcare services are also accelerating the growth of the infusion pump market.
- An increase in the incidence of chronic diseases, the rapid growth of the elderly population, the number of ambulatory infusion pumps, and the number of people performing surgical procedures. Intravenous infusion pumps are mostly used to administer critical fluids containing high-risk medications. Most infusion pumps are equipped with safety features and built-in alarms that alert the user and activate them in time of a problem. Many diseases, such as immunodeficiency, cancer, and heart failure, cannot be treated with oral medications and require infusion therapy.
Growing Focus on Emerging Markets & Growing Adoption of Specialty Infusion
- Emerging markets such as Asia Pacific and Latin America are experiencing rapid economic growth and expanding healthcare systems, increasing the demand for infusion pumps. With the improvement of healthcare infrastructure and the availability of medical services in these regions, the demand for infusion pumps is expected to increase significantly.
- In addition, the introduction of specialized infusion systems is another opportunity in the infusion pump market. Specialty infusion systems are designed to deliver specific treatments, such as chemotherapy or pain relief, and are becoming increasingly popular in the healthcare industry. These systems require special pumps that can deliver precise doses of medication over long periods of time, which is what happens when infusion pumps kick in.
- Technological advances in infusion pump design, such as wireless communication and the integration of intelligent infusion systems, are also creating opportunities for the market. These advances allow healthcare providers to monitor and adjust infusion rates remotely, which can improve patient safety and treatment outcomes.
Segmentation Analysis of The Infusion Pump Market
Infusion Pump Market segments cover the Type, Application, and End User. By Type, the Volumetric Infusion Pump segment is Anticipated to Dominate the Market Over the Forecast period.
- Volumetric infusion pumps have a wide range of applications in disease treatment and parenteral nutrition, due to which the volumetric infusion pump has the highest market value compared to other pumps. The safety, precision, and simplicity of the pumps are the reason for the high demand for these pumps.
- The volumetric infusion pump segment holds a major share of the intravenous infusion pump market and is expected to show a similar trend during the forecast period. The growing trend to adopt technologically advanced volumetric infusion pumps with features such as electronic health record (EHR) integration, built-in security systems, drug libraries, etc. is likely to fuel the market growth.
- Volumetric infusion pumps have medication banks, also known as dosage error reduction systems or dosage error reduction programs (DERS), designed to reduce medication administration errors. Thus, such advancements in IV infusion pumps will boost market growth during the forecast period.
Regional Analysis of The Infusion Pump Market
North America is Expected to Dominate the Market Over the Forecast period.
- North America is expected to hold a significant market share in the intravenous infusion pumps market due to the rise in chronic diseases, the growing population, and favorable reimbursement policies in the region.
- Furthermore, adopting new technologically advanced products for regular treatment of chronic disease conditions, awareness pertaining to advance intravenous infusion pumps and the presence of well-established healthcare infrastructure are also fuelling the growth of the overall regional market to a large extent.
- Additionally, initiatives and recommendations by government and private institutions for home care infusions are fuelling the growth of the market in the studied region. For example, according to a 2022 press release from the National Home Infusion Association, several health systems, hospitals, and group purchasing organizations from all 50 states are calling on Congress to address Medicare beneficiaries' access to home infusion therapy and pass legislation to improve access. for home care. based treatment. Thus, such steps will promote the adoption of home care IV infusion systems and thereby increase the growth of the market.
Covid-19 Impact Analysis on Infusion Pump Market
- As COVID-19 patients began to flood hospital ICUs, infusion pump supplies quickly dwindled. A large number of orders were sent to suppliers, pressuring them to produce more. The COVID-19 epidemic has strained healthcare infrastructure worldwide, as most eligible healthcare services have been delayed. However, the demand for intravenous infusion pumps such as insulin infusion pumps and volumetric infusion pumps has increased.
- The majority of patients suffering from chronic diseases received treatment away from home to avoid the risk of spreading the disease and to simplify health services. An Innovation that Increases Drug Mortality and Patient Risk, when the IV tubing system was expanded. The demand for infusion pumps increases. In COVID-19 patients began to flood hospital ICUs, and infusion pump stocks quickly decreased. A rush of orders was sent to suppliers, putting pressure on them to manufacture more. Hence, there were more demand for Infusion pumps was recorded during COVID 19 pnademic.
Top Key Players Covered in The Infusion Pump Market
- Braun Melsungen AG (Germany)
- Becton, Dickinson, and Company (U.S.)
- IRadimed Corporation (U.S.)
- Baxter International Inc. (U.S.)
- ICU Medical, Inc. (U.S.)
- Tandem Diabetes Care, Inc. (U.S.)
- ICU Medical, Inc. (U.S.)
- Medtronic (Ireland)
- Smith Medical (U.S.)
- Terumo Corporation (Japan)
- Hoffmann-La Roche Ltd. (Switzerland)
- Fresenius SE & Co. KGaA (Germany)
- Mindray (India), and Other Major Players
Key Industry Developments in the Infusion Pump Market
In August 2022, Baxter International Inc., a leader in innovative technology for medication delivery received the United States Food and Drug Administration (FDA) 510(k) clearance for its new Novum IQ syringe infusion pump (SYR) with Dose IQ Safety Software, representing Baxter’s latest developments for infusion therapy.
In March 2022, Shanghai MicroPort Lifesciences Co., Ltd. (MicroPort Lifesciences) received marketing approval from China’s National Medical Products Administration (NMPA) for its independently-developed new AutoEx Chemotherapy Infusion Pump (AutoEx).
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Global Infusion Pump Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2032 |
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Historical Data: |
2016 to 2021 |
Market Size in 2023: |
USD 13156.28 Mn. |
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Forecast Period 2023-32 CAGR: |
9.10% |
Market Size in 2032: |
USD 22030.89 Mn. |
|
Segments Covered: |
By Type |
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By Application |
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By End User |
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By Region |
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Frequently Asked Questions
What would be the forecast period in the Infusion Pump Market research report?
The forecast period in the Infusion Pump Market research report is 2023-2032.
Who are the key players in Infusion Pump Market?
B. Braun Melsungen AG (Germany), Becton, Dickinson, and Company (U.S.), IRadimed Corporation (U.S.), Baxter International Inc. (U.S.), ICU Medical, Inc. (U.S.), Tandem Diabetes Care, Inc. (U.S.), ICU Medical, Inc. (U.S.), Medtronic (Ireland), Smith Medical (U.S.), Terumo Corporation (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), Fresenius SE & Co. KGaA (Germany), Mindray (India), and Other major Players.
What are the segments of the Infusion Pump Market?
The Infusion Pump Market is segmented into Type, Application, End User, and region. By Type, the market is categorized into Volumetric Infusion Pumps, Syringe Infusion Pumps, Patient Controlled Analgesia Infusion Pumps. By Application, the market is categorized into Oncology, Parenteral Nutrition, Pain Management, Others. By End User, the market is categorized into Hospitals & Clinics, Home Healthcare, and Others. By region, it is analyzed across North America (US; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia Pacific (China; India; Japan; South Korea; Malaysia; Thailand; Vietnam; The Philippines; Australia; New Zealand; Rest of APAC), Middle East & Africa (Turkey; Bahrain; Kuwait; Saudi Arabia; Qatar; UAE; Israel; South Africa), South America (Brazil; Argentina; Rest of SA).
What is the Infusion Pump Market?
An infusion pump is a medical device that delivers fluids, such as nutrients and medications, into a patient's body in controlled amounts. Infusion pumps are in widespread use in clinical settings such as hospitals, nursing homes, and in the home.
How big is the Infusion Pump Market?
The global market for Infusion pumps estimated at USD 13156.28 Million in 2023 is projected to reach a revised size of USD 22030.89 Million by 2030, growing at a CAGR of 9.10% over the period 2023-2030.
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Base Year:2023
Historical Data:2017-2022
No of Pages:300
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