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Press Release: Infusion Pumps Market to Surpass US$ 5,709.1 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
An infusion pump is a medical device that is used to deliver various fluids to the body in a controlled manner. The pump is used in intravenous drug delivery in hospitals, nursing homes, long-term care units, and home settings. Infusion pumps find application in chemotherapy, neonatology, analgesia, gastroenterology, hematology, and diabetes treatment and management.
The global infusion pumps market is estimated to account for US$ 5,709.1 Mn in terms of value by 2027.
Global Infusion Pumps Market: Drivers
Infusion pumps are used to administer insulin in the treatment of diabetes. Therefore, increasing prevalence of diabetes is expected to boost growth of the global infusion pumps market over the forecast period. For instance, according to the American Diabetes Association, in 2018, there were over 500 million prevalent cases of type 2 diabetes worldwide.
Increasing geriatric population is also expected to boost growth of the global infusion pumps market. People above the age of 65 years may require infusion pumps for administering medication/ hormone/ nutrition and others. For instance, according to the World Health Organization, the proportion of the world's population over 60 years will nearly double from 12% to 22% during 2015-2050.
North America region held dominant position in the global infusion pumps market in 2018, accounting for 37.3% share in terms of volume, followed by Europe.
Figure 1. Global Infusion Pumps Market Value (US$ Mn), by Region, 2018
Global Infusion Pumps Market: Restraints
Increasing product recall is expected to hinder growth of the global infusion pumps market over the forecast period. For instance, in May 2019, BD recalled the Alaris infusion sets for pump model 8100, owing to the possibility of an incomplete occlusion occurring on the pumping segment.
Moreover, lack of standard usage guidelines and skilled professionals is also expected to hinder the market growth. The use of infusion pumps is not uniform and proper documentation for usage and availability of drug libraries is currently lacking.
Global Infusion Pumps Market: Opportunities
Key players in the market can focus on expanding their presence in emerging economies to enhance their market share. For instance, in April 2018, B. Braun Medical Industries officially opened five new and enhanced production plants and other administrative buildings in Penang, Malaysia, for manufacturing medical devices for infusion therapy.
Key players in the market can also focus on integrating smart pumps for use in infusion therapy. For instance, in October 2019, B. Braun Medical Inc.collaborated with STANLEY Healthcare to integrate and deploy its Space Infusion Pump Systems with STANLEY Healthcare’s software platform, Aeroscout RTLS MobileView, at Saratoga Hospital, located in Saratoga Springs, New York.
Volumetric pumps segment in the global infusion pumps market was valued at US$ 747.0 Mn in 2018 and is expected to exhibit a CAGR of 4.8% during the forecast period.
Global Infusion Pumps Market: Trends/Key Takeaways
Key players in the market are focused on launching user-friendly infusion pumps to enhance their market share. For instance, in 2018, InfuTronix Solutions, a developer and distributor of ambulatory infusion pumps, demonstrated its Nimbus II PainPRO – a compact-sized ambulatory infusion system with a user-friendly interface at the 2018 World Congress on Regional Anesthesia & Pain Medicine/ASRA's 43rd Annual Regional Anesthesiology & Acute Pain Medicine Meeting.
Key players in the market are also focused on R&D of advanced infusion pumps to expand their product portfolio. For instance, in July 2018, Shift Labs, an infusion technology provider partnered with Option Care Enterprises, Inc. to introduce the DripAssist Infusion Rate Monitor for home infusion care.
Global Infusion Pumps Market: Regulations
In Europe, all countries have to adopt only approved products with a CE mark. However, reporting of adverse events is not as clear as in the U.S. FDA. Moreover, there is lack of clear reporting of clinical outcomes at a country level
Global Infusion Pumps Market: Competitive Landscape
Major players operating in the global infusion pumps market include, B. Braun Melsungen AG, CareFusion Corporation, Fresenius Kabi AG, Terumo Corporation, Medtronic Plc., Baxter International Inc., Smiths Medical, MOOG Inc., Johnson & Johnson Private Ltd., and Hospira, Inc.
Global Infusion Pumps Market: Key Developments
Key players in the market are focused on adopting collaboration and partnership strategies to enhance their market share. For instance, in June 2019, Bainbridge Health implemented its infusion pump safety solution at Nemours Children’s Hospital in Orlando, Florida.
Key players in the market are also focused on establishing new distribution centers to enhance their market share. For instance, in January 2019, Med One Group established new distribution centers in California that are equipped with a variety of medical equipment to rent including infusion pumps.
An infusion pump are used for administration of medications and nutrients to patients who cannot take the same orally. These devices are routinely used in a wide array of application in healthcare settings to administer drugs at a controlled rate as programmed by the healthcare professional. These pumps offer various advantages over manual administration of medications or any other fluids such as automated delivery of fluids in smaller volumes at preset intervals. High-risk medications for cancer, anesthesia, and diabetes (insulin), are some examples of medication that can be safely administered using infusion pumps. A variety of infusion pumps are available in the market including ambulatory pumps, volumetric pumps, syringe pumps, enteral pumps, insulin pumps, and implantable pumps.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 42 market data tables and 40 figures on "Infusion Pumps Market” - Global forecast to 2027.
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