The North America infusion pumps market is expected to reach US$ 6,974.6 Mn in 2025 from US$ 4,488.1 Mn in 2018
NEW YORK, Nov. 12, 2019 /PRNewswire/ -- The North America infusion pumps market is expected to reach US$ 6,974.6 Mn in 2025 from US$ 4,488.1 Mn in 2018. The market is estimated to grow with a CAGR of 6.5% from 2019-2025.
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The growth of the infusion pumps market is primarily attributed to the Increasing Incidence of chronic diseases and increasing number of surgical procedures performed.However, frequent product recalls of infusion pumps and stringent regulatory requirements are likely to pose a negative impact on the market growth.
On the other hand, development of cost efficient pen needles is likely to have a positive impact on the growth of the North America infusion pumps market in the coming years.
Infusion pumps are used during surgeries to send pain medicine through catheter to a specific part of the body.Infusion pumps can provide targeted and consistent medicine to decrease the pain.
They are used when other methods are less effective or when the patient need long-term medicines or fluids.The plastic surgical procedures like liposuction, abdominoplasty, and mammoplasty, require short hospital stay, patients are discharged for ambulatory recovery on oral analgesic management.
However, anesthetists have started using infusion pumps to achieve adequate outpatient analgesic control.These pumps continuously administer and maintain constant plasma concentrations.
According to the American Society of Plastic Surgeons in 2017, there were around 17.5 million surgical and minimally invasive plastic procedures performed in the United States. Also, according to the Centers for Disease Control and Prevention (CDC) every year about 735,000 people in suffer from a heart attack. Furthermore, the Johns Hopkins University has estimated that approximately 84 million people in the US suffer from some form of the cardiovascular disease. This has led to increase in cardiovascular surgeries. Thus, the increasing number of surgical procedures coupled with technological advancements is anticipated to drive the infusion pumps market in the region.
In 2017, the volumetric pumps segment held a largest market share of 43.7% of the infusion pumps market, by type. The segment is anticipated to witness growth at a substantial rate of 6.8% during the forecast period. This segment is also expected to dominate the market in 2025 owing to its benefits of delivering monitored dosage of medications to the patient. They are being preferred highly in hospitals as they are able to deliver large amount of fluids or medications.
In 2017, the chemotherapy segment held a largest market share of 36.4% of the infusion pumps market, by application. The segment is anticipated to witness the fastest growth rate of 6.4% during the forecast period. This segment is also expected to dominate the market in 2025 owing to increases use of infusion pumps for the administration of medications, to the cancer patients. The pumps for chemotherapy can be used both for inpatient as well as outpatient settings, which makes it a preferable choice for cancer patients.
In 2017, the hospital & clinics segment held a largest market share of 47.5% of the infusion pumps market, by end user. The segment is anticipated to witness the fastest growth rate of 6.9% during the forecast period. This segment is also expected to dominate the market in 2025 owing to rise in the number of surgical procedures as well as reimbursement policies which make the admission process in hospitals a preferred choice.
Some of the major primary and secondary sources for infusion pumps included in the report are, Cancer Research Initiatives Foundation (CARIF), Centers for Disease Control and Prevention (CDC), Clinical Evaluation Report (CER), Food and Drug Administration (FDA), National Institute for Health and Care Excellence (NICE) and others.
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