Infusion Pump Market is anticipated to grow at a substantial CAGR from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Infusion Pump Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global infusion pump market is estimated to be over US$ 11.5 Bn in 2018. It is anticipated to grow at a substantial CAGR from 2019 to 2030.
The continual growth of the infusion pump market can be attributed to several factors which have led to wide scale adoption of these devices, which are extensively used in treatment of chronic diseases such as diabetes and cancer. Moreover, the growing demand for consumables and devices across the globe is anticipated to further contribute to the substantial growth of the global infusion pump market between 2019 and 2030. To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. Becton, Dickinson and Company, a leading global medical technology company, in 2016, announced a new research collaboration supported by JDRF, the leading global organization funding type 1 diabetes (T1D) research to develop new advancements in therapy options for people with type 1 diabetes
Over the years, the rising percentage of geriatric population along with increase in chronic diseases has played a vital role in contributing to the growth of the global infusion pump industry. Several countries, namely India, China, Japan, Brazil and other developing countries have emerged as essential contributors to global infusion pump market. Multiple factors have been responsible for attracting patients to use infusion pumps. Safety, better facilities, convenience, and advanced technologies have been vital in contributing to the infusion pump devices. Recent innovations have led to smaller and smarter pumps with availability of advanced technology, and they have been a major driver for the global infusion pump market, which is further anticipated to grow in the coming years.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Infusion Pump Market by Product (Infusion Pump Accessories/Consumables (Dedicated Accessories/Consumables(Enteral Infusion Pump Accessories/Consumables, Volumetric Infusion Pump Accessories/Consumables, Implantable Infusion Pump, Accessories/Consumables, Syringe Infusion Pump Accessories/Consumables, Pca Pump Accessories/Consumables, Insulin Infusion Pump Accessories/Consumables and Implantable Infusion Pump) and Non-Dedicated Accessories/Consumables(IV/Administration Sets, Infusion Catheters, Cannulas, Tubing and Extension Sets, Needleless Connectors and Valves) and Devices (Syringe Infusion Pumps, Volumetric Infusion Pumps, Ambulatory Infusion Pumps (Chemotherapy Infusion Pumps, Disposable Infusion Pumps), Enteral Infusion Pumps, Insulin Infusion Pumps, Implantable Infusion Pumps and Pca Infusion Pumps), Application (Diabetes, Gastroenterology, Chemotherapy/Oncology, Pediatrics/Neonatology, Analgesia/Pain Management and Hematology) and End Users (Home Care Settings, Hospitals, Academic & Research Institutes and Ambulatory Care Settings) - Analysis & Forecast 2019-2030. in detail along with the table of contents: https://www.marketindustryreports.com/79/infusion-pump-market
The rise in the ambulatory infusion pump can be attributed to its vital role in delivering pain control medication, chemotherapy, total parenteral nutrition infusion(TPN) and other infusions to patients in both inpatient and outpatient settings. In order to reduce high treatment costs, the trend is shifting away from the hospital towards outpatient care in developed markets. As the demand for the outpatient and home care increases, ambulatory pumps are propelling the growth of global infusion pumps market. Frequent product recalls of infusion pumps have been affecting the growth of the infusion pump industry. From 2005-2009 approx., FDA received approximately 56,000 reports of adverse events related with the use of infusion pumps, including many injuries and deaths. During that period, manufacturers conducted 87 infusion pump recalls to address the identified safety concerns. Seventy of these recalls were designated as Class II, a category that applies when the use of the recalled device may cause temporary or medically reversible adverse health consequences, fourteen recalls were Class I – situations in which there is a reasonable probability that use of the recalled device will cause serious adverse health consequences or death.
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Rapidly improving health insurance sector, increased accessibility to advanced healthcare, and expansion of private-sector hospitals to rural areas is anticipated to present a lucrative growth scenario for the infusion pump market in this region. Furthermore, increasing population, continuously growing economy coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
The prominent players in the global infusion pump market are Baxter International, BD, B. Braun Melsungen AG, ICU Medical, Inc., Fresenius Kabi AG, Medtronic, Terumo Corporation, Halyard Health, Mindray Medical International Limited and Insulet Corporation among others.
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