Global Infusion Pump Market Growth to 2020 Driven by Increasing Prevalence of Chronic Diseases
PUNE, India, January 14, 2016 /PRNewswire/ --
The global infusion pump market is expected to grow at a CAGR of 5.8% during 2015-2020 to reach USD 10,209.4 Million by 2020 according to this new report that contains comprehensive information on product portfolios offered by the top players in the infusion pumps and accessories market with industry analysis by product, application, and end user across all regions.
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The global infusion pumps and accessories market is expected to grow at a CAGR of 5.8% during the forecast period (2015 to 2020). The increasing prevalence of chronic diseases, owing to the rising geriatric population, increasing use of infusion products in homecare with favorable reimbursement coverage, and technological improvements in infusion products are some key factors driving the growth of this market.
In 2014, North America commanded the largest share of the global infusion pumps and accessories market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Developed geographies like North America and Europe are likely to grow at lower CAGRs as compared to the Asia-Pacific market, which is expected to grow at the highest CAGR of 7.6% during the forecast period. Growth in Asia-Pacific market is largely driven by the rapidly aging population, increasing prevalence of chronic diseases, and increasing disposable income of the middle-class population in this region.
In this report, the market is segmented by product, applications, end user, and region. On the basis of products, the market covers infusion pumps (devices) and accessories. The infusion pumps (devices) market is further segmented into volumetric infusion pumps, syringe infusion pumps, insulin infusion pumps, enteral infusion pumps, ambulatory infusion pumps, patient-controlled analgesia infusion pumps, and implantable infusion pumps. In 2014, the volumetric infusion pumps segment accounted for the largest share of the global infusion pumps market. This market is estimated to grow at a CAGR of 3.4% during the forecast period. However, the insulin infusion pumps segment is expected to grow at the highest CAGR of 7.6% during the forecast period. With significant growth expected in the coming years, the insulin infusion pumps segment is poised to command the largest share-23.6%-of the global infusion pumps market by 2020.
Infusion pumps accessories (comprising dedicated and non-dedicated disposables) accounted for the largest share of 68.0% of the infusion pumps and accessories market in 2014. Dedicated disposables for infusion pumps (related to volumetric infusion pumps, syringe infusion pumps, insulin infusion pumps, enteral infusion pumps, ambulatory infusion pumps, patient-controlled analgesia infusion pumps, and implantable infusion pumps) accounted for the largest share-88.1%-of the infusion pumps accessories market in 2014. This segment is poised to reach USD 6.2 billion by 2020, at the highest CAGR of 6.3% during the forecast period. Growth in the infusion pumps dedicated disposables segment is mainly driven by the increasing demand for dedicated disposables in chronic disease management to minimize the risk of non-compatibility of disposables with infusion devices.
Some major players profiled in the infusion pumps and accessories market report include CareFusion Corporation (U.S.), Baxter International, Inc. (U.S.), Hospira, Inc. (U.S.), B. Braun Melsungen AG (Germany), Fresenius SE & CO. KGaA (Germany), Medtronic, Inc. (U.S.), Smiths Medical (U.S.), Terumo Corporation (Japan), Moog, Inc. (U.S.), Roche Holdings Ltd. (Switzerland), and Johnson & Johnson (U.S.). Other players include Pfizer Inc. (U.S.), Novartis (Switzerland), Unomedical A/S (Denmark), Kimberly-Clark Corp (U.S.), DJO Inc. (U.S.), Excelsior Medical Corp. (U.S.), ICU Medical Inc. (U.S.), I-Flow Corporation (U.S.), Insulet Corp. (U.S.), IRadimed Corp (U.S.), LMA International NV (U.S.), Nipro Medical Corp. (U.S.), Summit Medical Group (U.S.), Symbios Medical LLC. (U.S.), Universal Medical Technologies Inc. (U.S.) and Zyno Medical LLC (U.S.). Order a copy of this infusion pump market research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=162895 .
On a related note, another research on Veterinary Equipment and Disposables Market Global Forecast to 2020 says, the global veterinary equipment and disposables market is estimated to grow at a CAGR of 6.5% to reach around USD 1.7 Billion by 2020 from USD 1.2 Billion in 2015. The report analyzes the veterinary equipment and disposables market by product, animal, and geography. Companies like Smiths Group Plc, Medtronic Plc, 3M Company, Jorgen Kruuse A/S, Digicare Biomedical Technology, Inc., Vetland Medical Sales and Services LLC, Hallowell Engineering & Manufacturing Corporation, DRE Veterinary, Midmark Corporation, Jorgensen Laboratories and Mila International Inc. have been profiled in this 277 pages research available at http://www.rnrmarketresearch.com/veterinary-equipment-and-disposables-market-by-product-anesthesia-machine-vaporizer-ventilator-patient-monitoring-devices-oxygen-mask-infusion-pump-by-animal-canine-feline-equine-bovine-zoo-animals-others-global-forecast-to-2-market-report.html .
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