The Global Infusion Pump Market is set for robust growth, with global sales projected to reach USD 4,932.2 million in 2024 and anticipated to climb to USD 8,345.4 million by 2034. This growth is driven by a Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period from 2024 to 2034. In 2023, the market generated USD 4,688.2 million in revenue and is expected to exhibit a Year-over-Year (Y-o-Y) growth of 5.2% in 2024.
Infusion pumps, essential for administering medications and fluids with precision, have seen increased adoption across hospitals, outpatient settings, and home healthcare. Their growing demand is attributed to the rising prevalence of chronic diseases, the expanding elderly population, and advancements in infusion pump technology aimed at enhancing patient care.
Key Insights and Market Drivers:
- Market Valuation: Expected to increase from USD 4,932.2 million in 2024 to USD 8,345.4 million by 2034.
- CAGR: Projected to grow at a 5.4% CAGR from 2024 to 2034.
- Growth Drivers: Increasing incidence of chronic illnesses, growing elderly population, and technological advancements in infusion therapy.
With the expanding role of infusion pumps in modern healthcare and ongoing advancements improving safety and functionality, the infusion pump market is positioned for steady growth. This trend highlights the critical contribution of infusion pumps to enhancing patient care across diverse healthcare settings globally.
Infusion pumps are devices used in healthcare settings to administer fluids into patients’ bodies. It assist in administration of medications, nutrients, and fluids for hydration in a controlled fashion, which means in exact quantities and at designated speeds over a specified duration. It is commonly administered through a vein, and occasionally it may also be administered under the skin, or in artery and spinal infusions.
They usually vary in complexity and features and ranges from simple gravity-driven devices to sophisticated electronic pumps capable of programming complex infusion protocols. The continuously evolving advancements in medical devices to meet the growing demand of healthcare industry propels the growth of the market.
Competitive Landscape
Key players operating in the infusion pump cover market are investing in development of advanced and innovative products that are more reliable and efficient. Also, many of the key players are emphasizing on launching new products to the market for expansion of their product portfolio and strengthening their market share.
Recent Industry Developments in Infusion Pumps Market
- In August 2023, ICU Medical, Inc., a medical device company received approval from the USA FDA for their Plum Duo infusion pump with LifeShield infusion safety software. This approval expanded company’s product portfolio in the USA market.
- In February 2023, Mindray launched BeneFusion i Series and u Series infusion systems which have high precision, and adaptive customization for the safety of the medication in clinical settings.
Key Players of Infusion Pumps Industry
- Terumo Corporation
- Medtronic Plc
- Smiths Group plc
- MOOG Inc.
- B. Braun Melsungen AG
- Fresenius Kabi AG
- Insulet Corporation
- CareFusion Corporation
- ICU Medical, Inc.
- Baxter International Inc.
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Key Segments of Infusion Pumps Industry
By Product:
In terms of product type, the industry is divided into syringe pumps, small volume pump, ambulatory pumps, volumetric pumps, peristaltic, cassette/piston, implantable pumps, insulin pumps, enteral pumps, PCA pumps, and pump accessories.
By Modality:
In terms of modality, the industry is divided into stationary pumps and infusion pumps.
By Application:
In terms of application, the industry is segregated into chemotherapy/oncology, pediatrics/neonatology, analgesia, gastroenterology, hematology and diabetes.
By End User:
In terms of end user, the industry is segregated into hospitals, ambulatory surgical centers, home care, clinics and others.
By Region:
Key countries of North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and Middle East and Africa (MEA), have been covered in the report.
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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