The global infusion pumps market size is expected to reach USD 22 billion by 2030 from at USD 13 billion in 2021, poised to grow at a noteworthy CAGR of 9.5% during the forecast period 2021 to 2030.
The growing demand for infusion pumps can be attributed to advancements in the domain of medical research. The healthcare industry is characterised by the presence of several complex technologies that need to work in tandem with each other. Patients suffering from chronic illnesses require seamless treatment and care, necessitating the availability of technologies for monitoring, tracking, and medical administration. In recent times, the medical industry has become increasingly focused on ensuring proper dosage and medication. Overdosage or underdosage have been a cause of medical negligence, and have invited flak across the medical industry. Therefore, there is a need to develop scrutinous technologies that help in administering the right amount of medical fluids in the body. In light of the factors mentioned above, it is safe to conclude that the need for infusion pumps in the healthcare sector would increase. Besides, the focus of the medical industry on developing a seamless domain for medical discharge of fluids has also given an impetus to market growth.
Rising Incidence of Chronic Diseases to Propel Demand
The demand within the global market for infusion pumps has been rising on account of the rising geriatric population across the globe. This trend can be explained by the fact that the elderly people are frequently in need of medications that are often administered intravenously rather than orally. Furthermore, chronic diseases such as cancer, diabetes, and cardiovascular disorders often render patients weak and unable to eat which also calls for the use of infusion pumps. The administration of drugs, dextrose, plasma, and saline fluids into the body is done through the use of infusion pumps, and this also enhances the growth prospects of the global market.
High Costs of Ambulatory Implantable Devices to Hamper Growth
Ambulatory implantable devices incur heavy expenses, and this has become a major restrain in the growth of the global market for infusion pumps. Furthermore, healthcare sectors across a number of underdeveloped regions are still barred from the usage of infusion systems due to the limitations of the healthcare sector in these regions. Despite these factors that could hamper the growth of the global market for infusion pumps, the demand within this market is expected to keep soaring as better medical reimbursement policies are introduced by the governments.
Continuous Infusion Pumps to Attract Increased Demand
The user interface of infusion pumps can be detailed according to the end-use of these pumps. It has come to the attention of the medical sector that continuous fusion devices are the need of the hour across the healthcare sector. These pumps can ensure continuous pulses of infusion, ranging between 500 nanolitres and 10 millilitres. Furthermore, use of continuous fusion devices helps in programming infusion speeds at the end of healthcare professionals. The sale of continuous infusion pumps is expected to supersede the demand for intermittent infusion pumps over the next few years. The timing of infusion can be altered across the latter, and this is an important dynamic of market growth and maturity. The blood vessels of the human body can experience irritation due to irregulated administration of fluids. Therefore, it is important to develop high-performance infusion pumps. Pain management, diabetes management, and chemotherapy are some of the common applications of infusion pumps.
North America to Lead Market Expansion
On the basis of regions, the global infusion pumps market can be segmented into South America, North America, Europe, Asia Pacific, and the Middle East and Africa. The growth of the medical industry in China and India has given a thrust to the growth of the Asia Pacific market. Besides, there is little contention about the emergence of new technologies that can help in managing the humongous load of patients across the healthcare industry of these regions. The North America infusion pumps market has been at the forefront of market growth and maturity. Medical research practices followed across the US have changed the fortunes of the healthcare industry in the region. Several research lines for treatment of various chronic diseases are underway across the US.
Some of the prominent players operating in the global infusion pumps market are ICU MEDICAL, INC., Smiths Medical, Tandem Diabetes Care, Inc., and Medtronic plc.
Report Scope of the Infusion Pumps Market
|Market Size||US$ 22 Billion by 2030|
|Growth Rate||CAGR of 9.5% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Companies Mentioned||ICU MEDICAL, INC., Smiths Medical, Tandem Diabetes Care, Inc., and Medtronic plc.|
This report focuses on infusion pumps market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall infusion pumps market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global infusion pumps market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the infusion pumps market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the infusion pumps market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Infusion pumps market.
Market Segments: This part of the report discusses about product, application and other segments of the infusion pumps market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global infusion pumps market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the infusion pumps market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global infusion pumps market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global infusion pumps market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global infusion pumps market.
The study objectives of this report are:
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