Infusion Pump Global Market to Reach $20.5 Billion by 2027 at a CAGR of 7.0%
DUBLIN, Dec. 2, 2022 /PRNewswire/ -- The "Infusion Pump Market by Product (Accessories (Dedicated), Devices (Volumetric, Insulin, Syringe, Ambulatory, Enteral)) Technology (Traditional, Specialty) Application (Cancer, Diabetes, Pediatric) & Setting (Hospital, Home care) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The infusion pump market is expected to reach USD 20.5 Billion by 2027 from an estimated USD 14.7 Billion in 2022, at a CAGR of 7.0%. Factors such as 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 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. Smart pump-EMR interoperability and growing focus on specialty pumps are some of the latest trends in infusion pumps market.
Based on product type, the accessories & consumables segment holds the largest market share during the forecast period
On the basis of 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 2021. Factors such as recurrent use of accessories & consumables and the increasing adoption of infusion pumps for the delivery of medications in a controlled manner are responsible for the large share and high growth of this segment.
Based on type of infusion pump devices, the insulin pump segment witnessed highest growth during the forecast period
On the basis of infusion devices, the 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. Insulin pumps are expected to be the fastest-growing segment in this market. The increasing prevalence of diabetes, coupled with the growing demand for smart insulin pumps and portable insulin pumps for the management of diabetes in home care settings, is expected to drive the growth of the insulin pumps market during the forecast period.
Based on technology of infusion pump devices, the specialty infusion pumps segment accounted for the highest growth rate during the forecast period
On the basis of technology, the infusion pump devices market has been segmented into traditional infusion pumps and specialty infusion pumps market. The specialty infusion pumps segment has registered fastest growth rate during the forecast period. Technological advancements in infusion pump devices and the increasing adoption of specialty infusion pumps in home care settings and ambulatory care centers are driving the growth of the specialty infusion pumps segment.
Based on application, the diabetes segment is expected to register the highest CAGR during the forecast period
On the basis of 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. Factors such as increasing prevalence of diabetes and the rising demand for insulin pumps to manage diabetes in home care settings are responsible for growth in this segment.
Market Dynamics
Market Drivers
- Rising Demand for Ambulatory Infusion Pumps in Home Care Settings
- Increasing Incidence of Chronic Diseases Along with Rapid Growth in Geriatric Population
- Growing Number of Surgical Procedures Performed
Market Restraints
- Product Recalls
- Stringent Regulatory Requirements for New Products
- Increasing Adoption of Refurbished and Rental Infusion Pumps
Market Opportunities
- High Growth Opportunities in Emerging Countries
- Growing Adoption of Specialty Infusion Systems
Market Challenges
- Increasing Incidence of Medication Errors and Lack of Wireless Connectivity in Most Hospitals
Industry Trends
- Smart Pump-EMR Interoperability
- Growing Focus on Development of Hybrid Closed-Loop Systems/Artificial Pancreas Device Systems
- Growing Focus on Specialty Pumps and Added Advanced Features
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Infusion Pumps Market, by Product
7 Infusion Pumps Market, by Application
8 Infusion Pumps Market, by Setting
9 Infusion Pumps Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Avanos Medical, Inc.
- B. Braun Melsungen Ag
- Baxter International Inc.
- Becton, Dickinson and Company
- Codan Medizinische Gerate GmbH & Co. Kg
- Eitan Medical
- Epic Medical
- Fresenius Kabi
- Icu Medical
- Infutronix Solutions LLC
- Insulet Corporation
- Jms Co. Ltd.
- Medtronic plc
- Micrel Medical Devices Sa
- Moog Inc.
- Nipro Corporation
- Roche Diagnostics
- Shenzhen Medrena Biotech Co. Ltd.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- Sooil Development Co. Ltd.
- Tandem Diabetes Care, Inc.
- Teleflex, Inc.
- Terumo Corporation
- Ypsomed Holding Ag
- Zyno Medical LLC
For more information about this report visit https://www.researchandmarkets.com/r/ix1hk6
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