The Worldwide Infusion Pump Industry is Expected to Reach $20.5 Billion by 2026 at a CAGR of 9.3% from 2021
DUBLIN, Aug. 12, 2021 /PRNewswire/ -- The "Infusion Pump Market by Product [Accessories (Dedicated, Non-dedicated), Devices (Volumetric, Insulin, Syringe, Ambulatory)], Technology (Traditional, Specialty), Application (Cancer, Diabetes), & Setting (Hospital, Homecare) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The infusion pumps market is expected to reach USD 20.5 Billion by 2026 from an estimated USD 13.2 Billion in 2021, at a CAGR of 9.3%.
The increasing incidence of chronic diseases along with the rapid growth of the geriatric population, rising demand for ambulatory infusion pumps, and the growing volume of surgical procedures performed across the globe are some of the key factors driving the growth of the infusion pumps market. However, the presence of stringent regulations for new products, medication errors associated with infusion pumps (which have resulted in product recalls), and the increasing adoption of refurbished and rental infusion pumps are expected to restrain the growth of this market during the forecast period.
Based on product type, the accessories & consumables segment holds the largest market share during the forecast period.
ased on products, the infusion pumps market has been segmented into accessories & consumables and devices. The accessories & consumables segment accounted for the largest share of the infusion pumps market in 2020. The large share and high growth of this segment can be attributed to the recurrent use of accessories & consumables and the increasing adoption of infusion pumps for the delivery of medications in a controlled environment.
Based on infusion pump devices, the volumetric infusion pump accounted for the highest market share during the forecast period.
Based on devices, the infusion pump market is segmented into volumetric infusion pumps, insulin pumps, enteral infusion pumps, ambulatory infusion pumps, syringe infusion pumps, patient-controlled analgesia (PCA) pumps, and implantable infusion pumps. The volumetric infusion pumps segment accounted for the largest share of the infusion pump devices market in 2020. Volumetric infusion pumps are widely used to deliver large volumes of fluid to patients. These pumps are capable of delivering fluids, blood transfusions, and total parental nutrition (TPN) to patients at continuous predetermined medium-to-high flow rates. These devices are useful for almost all areas of healthcare and are widely used for IVs.
Based on technology of infusion pump devices, the traditional pump segment is expected to register the highest CAGR during the forecast period.
Based on technology, the infusion pump devices market has been segmented into traditional infusion pumps and specialty infusion pumps market. The traditional infusion pumps segment accounted for the largest share of the infusion pump devices market in 2020. The large share of this segment is mainly due to the wide applications of traditional infusion pumps, their low cost compared to specialty infusion pumps, and their high adoption in hospitals.
Based on application, the diabetes segment is expected to register the highest CAGR during the forecast period.
>Based on application, the infusion pumps market is segmented into chemotherapy/oncology, diabetes management, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, and other applications (includes infectious diseases, autoimmune diseases, and diseases of the heart, kidney, lung, and liver). The diabetes management segment is expected to witness the highest growth rate during the forecast period. Growth in this segment is mainly driven by the increasing prevalence of diabetes and the rising demand for insulin pumps to manage diabetes in home care settings.
Based on setting, home care settings are expected to register the highest CAGR during the forecast period.
Based on setting, the infusion pumps market has been segmented into hospitals, home care settings, ambulatory care settings, and academic & research institutes. The home care settings segment is projected to register the highest CAGR during the forecast period. Technological advancements in infusion pumps have enabled the development of compact and lightweight devices that are easy to carry and operate. This, coupled with the increasing awareness and acceptance of ambulatory infusion pumps (such as disposable pumps) at home care settings to reduce hospital stays, propels the growth of the infusion pumps market for home care settings.
North America is expected to account for the largest share of the infusion pump market in 2020
Geographically, the infusion pump market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the infusion pump market in 2020. The large share of North America in the global infusion pumps market can be attributed to the rising geriatric population, increasing prevalence of diabetes, and the rapid adoption of technological advancements.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Infusion Pumps Market Overview
4.2 Asia-Pacific: Infusion Pumps Market, by Application and Country
4.3 Infusion Pumps Market: Geographic Mix
5 Market Overview
5.1 Market Dynamics
5.1.1 Market Drivers
5.1.1.1 Rising Demand for Ambulatory Infusion Pumps in Home Care Settings
5.1.1.2 Increasing Incidence of Chronic Diseases Along with the Rapid Growth of the Geriatric Population
5.1.1.3 Growing Number of Surgical Procedures Performed
5.1.1.4 Increasing Number of Icu Beds in Countries with a High prevalence of COVID-19
5.1.2 Market Restraints
5.1.2.1 Product Recalls
5.1.2.2 Stringent Regulatory Requirements for New Products
5.1.2.3 Increasing Adoption of Refurbished and Rental Infusion Pumps
5.1.3 Market Opportunities
5.1.3.1 High Growth Opportunities in Emerging Countries
5.1.3.2 Growing Adoption of Specialty Infusion Systems
5.1.4 Market Challenges
5.1.4.1 Increasing Incidence of Medication Errors and Lack of Wireless Connectivity in Most Hospitals
5.2 Industry Trends
5.2.1 Smart Pump-Emr Interoperability
5.2.2 Growing Focus on the Development of Hybrid Closed-Loop Systems/Artificial Pancreas Device Systems
5.2.3 Growing Focus on Specialty Pumps & Added Advanced Features
5.3 Pricing Analysis
5.4 Value Chain Analysis
5.5 Supply Chain Analysis
5.6 Ecosystem Market Map
5.7 Porter's Five Forces Analysis
5.8 Regulatory Analysis
5.9 Impact of COVID-19 on the Infusion Pumps Market
5.10 Patent Analysis
5.11 Technology Analysis
5.12 Trade Analysis
6 Infusion Pumps Market, by Product
7 Infusion Pumps Market, by Application
7.1 Introduction
7.2 Chemotherapy/Oncology
7.2.1 Growing Global Incidence of Cancer to Drive the Demand for Infusion Pumps for Chemotherapy
7.3 Diabetes Management
7.3.1 High Prevalence of Diabetes Has Increased the Demand for Accessible and Effective Diabetes Management-A Key Factor Driving Market Growth
7.4 Gastroenterology
7.4.1 Doctors Prefer to Treat Patients with Severe Digestive System Disorders by Using Infusion Pumps to Deliver Drugs into the System-A Key Factor Driving Market Growth
7.5 Analgesia/Pain Management
7.5.1 Rising Number of Surgical Procedures to Propel Market Growth
7.6 Pediatrics/Neonatology
7.6.1 Increasing Incidence of Diabetes in Pediatric Patients is Driving the Adoption of Infusion Pumps
7.7 Hematology
7.7.1 Increasing Prevalence of Blood Disorders to Support the Growth of this Segment
7.8 Other Applications
8 Infusion Pumps Market, by Setting
8.1 Introduction
8.2 Hospitals
8.2.1 Strong Financial Capabilities of Hospitals for Purchasing High-Priced Infusion Devices to Drive Market Growth
8.3 Home Care Settings
8.3.1 Due to the Growing Burden of Non-Communicable Diseases, Patients Are Increasingly Opting to Get Treated at Home-A Key Factor Driving Growth in this Segment
8.4 Ambulatory Care Settings
8.4.1 Growing Number of Surgical Procedures Performed in Ascs to Drive Market Growth
8.5 Academic & Research Institutes
8.5.1 Increasing Medical Research Activities to Support the Growth of this Segment
9 Infusion Pumps Market, by Region
10 Competitive Landscape
10.1 Overview
10.2 Key Player Strategies
10.3 Revenue Share Analysis of the Top Market Players
10.4 Market Share Analysis
10.4.1 Volumetric Infusion Pumps Market
10.4.2 Syringe Infusion Pumps Market
10.4.3 Insulin Pumps Market
10.4.4 Enteral Infusion Pumps Market
10.4.5 US: Infusion Pumps Market Share Analysis
10.4.6 Europe: Infusion Pumps Market Share Analysis
10.4.7 US: Insulin Pumps Market Share Analysis
10.5 Company Evaluation Quadrant
10.5.1 Stars
10.5.2 Emerging Leaders
10.5.3 Pervasive Players
10.5.4 Participants
10.6 Company Evaluation Quadrant for Start-Ups
10.6.1 Progressive Companies
10.6.2 Dynamic Companies
10.6.3 Starting Blocks
10.6.4 Responsive Companies
10.7 Company Product Footprint
10.8 Geographic Footprint of the Major Players in the Infusion Pumps Market
10.9 Competitive Scenario
11 Company Profiles
11.1 Key Players
11.1.1 Becton, Dickinson and Company
11.1.2 B. Braun Melsungen Ag
11.1.3 Baxter International Inc.
11.1.4 Fresenius Kabi
11.1.5 Icu Medical
11.1.6 Smiths Medical
11.1.7 Moog Inc.
11.1.8 Medtronic plc
11.1.9 Terumo Corporation
11.1.10 Nipro Corporation
11.1.11 Avanos Medical, Inc.
11.1.12 Insulet Corporation
11.1.13 Tandem Diabetes Care, Inc.
11.1.14 Zyno Medical LLC
11.1.15 Jms Co. Ltd.
11.1.16 Roche Diagnostics
11.1.17 Teleflex, Inc.
11.1.18 Mindray Medical International Limited
11.1.19 Micrel Medical Devices Sa
11.1.20 Ypsomed Holding Ag
11.2 Other Players
11.2.1 Infutronix Solutions LLC
11.2.2 Sooil Development Co. Ltd.
11.2.3 Epic Medical
11.2.4 Shenzhen Medrena Biotech Co. Ltd.
11.2.5 Codan Medizinische Gerate GmbH & Co Kg
12 Appendix
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