The advanced infusion systems market is anticipated to reach US$ 16,536.9 million by 2033, from a projected US$ 8,862.8 million in 2023. Over the course of the forecast period, advanced infusion system sales are anticipated to grow at a noteworthy CAGR of 6.4%.
Advanced Infusion systems market are medical devices and related disposables that are used to precisely, automatically, and carefully administer fluids or medications in solution to a patient’s circulatory system. There are a number of ways to administer a medication to a patient; the most popular one is intravenous, though subcutaneous, arterial, and epidural infusions are also acceptable depending on the situation.
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They are simple devices and gravity controllers that employ a clamping action to vary the flow of liquid under the force of gravity. This instrument was extensively used for medication purpose but, due to association of high mortality rates with it, advanced infusion systems were developed. Facilities like easy start up, visual monitoring, mobility of system, balanced and continues infusion of multiple medications at the same time, patient safety are a few factors which are boosting the growth of the potential market of advanced infusion systems over conventional ones.
Advanced Infusion Systems Market: Drivers and Restraints
Overall increase in global population suffering from chronic disease, cancer, diabetes is the major factor that drives the market growth of global infusion systems market. Enormously developed technology in infusion system which eliminates user-related risks, higher bioavailability, safety, therapeutic effectiveness, increase in health care spending are also some other factors that drive the growth of the market.
To operate these automated infusion systems, a highly trained intelligent system is required. If this system is not trained properly, it can lead to increased morbidity and mortality rate which can restrain the growth of this market.
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Advanced Infusion Systems Market: Overview
Over the last few decades volumetric and syringe pumps, the clinical and surgical industry, infusion systems, have been widely used for intravenous therapy (IV). Industry experts estimated that 80% of the hospitalized patients receive intravenous (IV) therapy. This demand is expected to increase in the coming years.
Growing incidence of chronic lifestyle disorders like cancer, diabetes and increased rate of aging population are the major factors that are expected to rise the demand for infusion pump market in forecast period. Increasing malnutrition in developing countries is expected to increase the demand for infusion pumps for critical nutrition. Hospitals are the largest end-users of infusion systems and account for over half of the market share.
Advanced Infusion Systems Market: Regional Overview
Region wise, the advanced infusion system market is segmented into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and Middle East and Africa. North Americaholds the largest market share globally. The advanced infusion system market in Asia-Pacific and Latin America is expected to grow relatively fast in coming years. Factors expected to drive this growth are increase in population and increase in incidences of cancer, diabetes and asthma.
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Advanced Infusion Systems Market: Key Players
Hospira, Inc., is a leading provider of infusion technologies globally. The key players in this markets are AngioDynamics, Inc., Animas Corporation, B. Braun Melsungen AG, Terumo Corporation and F. Hoffmann-La Roche Ltd. Infusion systems by Hospira, Inc. have operations in over 60 key markets across Europe, Asia and The Americas. Q Core Medical is a medical device company focused on the infusion pump market, which is expected to hold a large market share in the upcoming period.
Key Segments in The Advanced Infusion System Market
By Product:
- Elastomeric infusion system
- Volumetric infusion system- large volume and small volume pump
- Patient Controlled Analgesia pump
- Disposable infusion system
- Syringe infusion system
- Ambulatory infusion system
- Implantable infusion system
By Application:
- Chemotherapy
- Diabetes
- Pain management
- Asthma
- Clinical nutrition
By End-User:
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic centers
- Bedside
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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