Infusion pumps are mainly used in hospitals and other healthcare service providers to deliver fluids and medication in to patient’s body in controlled manner. These infusion pumps improves patient care with control on antibiotics, anesthetics, insulin, and others. Infusion systems are devices which are used for administrating the drugs and fluids like saline, dextrose, and plasma solutions. Growing demand for volume infusion are required for hydration therapy and parenteral nutrition is fuelling growth of the global infusion pumps market. However, high cost of implantable devices are hampering growth of the global infusion pumps market. Nevertheless, tapping the unmet need are expected to create lucrative opportunities for key players to collect higher revenue.
According to the report by TMR, the global infusion pumps market was valued at around US$ 7,036 mn in 2017 and is anticipated to expand with a CAGR of around 5.4% from 2018 to 2026 to attain value of US$ 10,000.0 mn by the end of 2026.
Global Infusion Pumps Market: Key Segments
Based on product type, the global infusion pumps market can be segmented into insulin pumps, PCA pumps, enteral pumps, and others. The products in this segment have been analyzed based on different uses of infusion devices to treat chronic diseases in various region. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. In terms of application, the global infusion pumps market can be classified into diabetes management, pain management, chemotherapy, and others. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.
Global Infusion Pumps Market: Regional Outlook
In terms of geography, the global infusion pumps market has been categorized into five major regions and the key countries in the respective region: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, Israel, and Rest of MEA). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The research study also provides the competitive scenario in these regions.
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Companies Mentioned in Report
The report also profiles major players in the market and provides various attributes such as company overview, financial overview, product portfolios, business strategies, and recent developments. Major companies profiled in the infusion pumps market are include F. Hoffmann-La Roche Ltd., Tandem Diabetes Care, Inc., ICU MEDICAL, INC., Smith Medical, Medtronic plc, Terumo Corporation, Baxter International Inc., Becton, Dickinson and Company, B. Braun Holding GmbH & Co. KG, and Fresenius SE & Co. KGaA.
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.
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