The Infusion Pumps Market has witnessed substantial growth in recent years, fueled by advancements in healthcare technology, a growing prevalence of chronic diseases, and an increasing aging population. Infusion pumps are medical devices used to deliver fluids, such as medications, nutrients, and blood products, directly into a patient’s bloodstream at a controlled rate. They play a crucial role in various medical settings, including hospitals, clinics, and home care, facilitating precise and continuous administration of therapeutic agents.
One of the key factors contributing to the market’s expansion is the rising incidence of chronic diseases, such as diabetes, cancer, and cardiovascular disorders. Infusion pumps have become an integral part of managing these conditions, as they enable patients to receive intravenous medications and therapies accurately, enhancing treatment outcomes and improving patient comfort.
Embark on a Journey of Success with Unmatched Precision! Claim Your Complimentary Sample Today and Witness the Power of Excellence :https://www.futuremarketinsights.com/reports/sample/rep-gb-859
Moreover, the aging population is a significant driver of the infusion pumps market. With an increasing number of elderly individuals requiring long-term medical care, infusion pumps have become essential in delivering medications and nutrients to patients who may have limited mobility or difficulty taking medications orally.
The market offers a diverse range of infusion pumps, including volumetric pumps, syringe pumps, insulin pumps, and patient-controlled analgesia (PCA) pumps. Each type of pump caters to specific medical needs and patient requirements, providing healthcare professionals with various options to customize treatment plans based on individual circumstances.
According to Future Market Insights (FMI), the global Infusion Pumps Market was valued at US$ 4.4 billion in 2022 and is expected to reach US$ 6.6 billion by 2030.
Infusion pumps are pieces of medical apparatus used to administer fluids, nutrients, and high-risk medications to patients in a controlled and supervised setting. These medications are injected into the patient’s body through subcutaneous, intravenous, and arterial vessels. While stationary infusion pumps are usually used in hospitals, wearable portable infusion pumps can be used while travelling.
Healthcare facilities use syringe pumps, ambulatory pumps, volumetric pumps, implantable pumps, insulin pumps, enteral pumps, and PCA pumps among other infusion pump types. Patients typically get medications such as painkillers, insulin, and chemotherapy through infusion pumps.
Infusion pumps are expected to be valued at US$ 3,552.2 million by 2028, according to a recent industry report by Future Market Research. This market is expected to grow at a steady CAGR of 5.4% from 2018 to 2028. The research analyses the key market dynamics—drivers, constraints, and challenges—as well as the competitive business strategies of the leading market competitors.
Through 2026, the number of people with diabetes and chronic pain is expected to rise, and technologically enhanced products with better characteristics are expected to develop. Infusion pumps are predicted to be the most popular product in North America.
During the forecast period, the market growth for infusion pumps is expected to be constrained by the presence of strict government regulations for new products, an increase in product recalls that frequently result from medication errors associated with infusion pumps, and an increase in the adoption of reconditioned and rental infusion pumps. A significant share of complaints about infusion pumps are caused by user mistake. On the other hand, supportive reimbursement policies for infusion medicines administered in homecare settings are a key driver of revenue growth from the end-user segment of home infusion.
Fragmented Infusion Pumps Market to Present Investment Opportunities; Acquisitions and Innovative NPD to Remain Key Forward Strategies
Key players in the global infusion pumps market include Pfizer (Hospira) Inc., Medtronic Plc., Terumo Corporation, Johnson & Johnson Private Ltd., B. Braun Melsungen AG., Smiths Medical, Baxter International Inc., and Fresenius Kabi AG. The top 5 key players contributed approximately 79% revenue share to the Infusion Pumps Market in 2017. The report on infusion pumps market offers a detailed competitive outlook along with strategy overview, SWOT analysis, and current developments.
Infusion pump manufacturers are constantly improving their forward integration capabilities in the value chain and establishing and enhancing distributor network. Moreover, since the infusion pumps market is highly fragmented, there is no definite leader for all categories, leaving enough scope for investment by mushrooming local players, especially in emerging economies such as China and India. Although, Medtronic is a clear market leader with close to two-third market share through 2014, it does not have a competitive edge in other categories of Syringe Infusion Pump including syringe pumps and ambulatory pumps.
Players dealing with hospital supplies are increasingly targeting the infusion pumps market for either acquiring leading companies or those facing large number of product recalls.
Unlock a wealth of knowledge with our methodology insights now:
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-859
Incorporating Smart Technology Will Drive the Infusion Pumps Market
In terms of forward strategy, companies are manufacturing user-friendly and technologically advanced infusion pumps that can be monitored remotely. Companies are also including comprehensive drug libraries in pumps that would enable multi-directional interoperability and enhanced data safety of the instrument and patients, for better electronic health record and medication management across multi-care settings. Lastly, advanced technologies including dose error reduction system [DERS] and barcode-enabled point of care (BPOC) systems are also been incorporated in infusion pumps to prevent medication errors, thereby, driving the growth of smart infusion pumps market.
Infusion Pumps Market by Category
By Product Type:
- Syringe Pumps
- Ambulatory Pumps
- Volumetric Pumps
- Peristaltic
- Cassette/Piston
- Implantable Pumps
- Insulin Pumps
- Enteral Pumps
- PCA Pumps
- Pump Accessories
By Application:
- Chemotherapy/Oncology
- Pediatrics/Neonatology
- Analgesia
- Gastroenterology
- Hematology
- Diabetes
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Home Care
- Clinics
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube