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Infusion Pumps Market Share, Size to grow at a CAGR of 6.2% and expected to reach $ 18,045.6 million by 2025

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Infusion Pumps Market Share, Size to grow at a CAGR of 6.2% and expected to reach $ 18,045.6 million by 2025

March 05
22:28 2021
Infusion Pumps Market Share, Size to grow at a CAGR of 6.2% and expected to reach $ 18,045.6 million by 2025

Infusion Pumps Market
Infusion pumps market is expected to reach US$ 18,045.6 million by 2025 from US$ 11,378.8 million in 2017; it is estimated to grow at a CAGR of 6.2% from 2018 to 2027.

An infusion pump is a device used to deliver liquids into a patient’s body in a regulated manner. The pump enables fluid delivery in large and small amounts. The pump is used to deliver both nutrients and medication to the patient’s body. Infusion pumps are regularly used to administer critical fluids, including high-risk medications, pump failures can have significant implications for patient safety. Factors such as increasing incidence of chronic diseases, increasing number of surgical procedures performed and growing geriatric population are estimated to drive the market’s growth. However, the market is likely to experience restraining factors such as frequent product recalls of infusion pumps and stringent regulatory requirements.

Global infusion pumps market, based on the type was segmented as, ambulatory pumps, volumetric pumps, syringe pumps, and accessories. In 2017, the volumetric pumps segment held the largest share of the market, by type. The segment is also expected to witness growth at a significant rate during the forecast period, due to its benefits of administering large volume of dosage of medications or drugs to the patients.

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Some of the prominent players operating in infusion pumps market are BD, B. Braun Melsungen AG, Terumo Corporation, F. Hoffmann-La Roche Ltd., Medtronic, Baxter International, Inc., Smith Medical, Moog, Inc., ICU Medical, Inc., and Insulet Corporation.

The market players are focused towards introducing new and innovative products in the market to sustain their position in the market. For instance, in December, 2018, Terumo Corporation announced that a biosimilar was launched in Europe. The biosimilar is used by company’s PLAJEX pre-fillable syringe. The hulio (biosimilar) is manufactured by the company. These product innovations and launches are expected to propel the growth of the infusion pumps market during the forecast period.

Diabetes is one of the largest global health emergencies of the 21st century. Each year more and more people live with this condition, which can result in life-changing complications. According to the International Diabetes Federation (IDF), in 2017, the number of people with diabetes in North America was approximately 46 million, which is expected to grow to 62 million in 2045. The increase in the disease prevalence is around 35% during the forecast period.

Also, according to the World Health Organization in 2018, cancer was the second leading cause of death across the globe and is responsible for an estimated 9.6 million deaths in 2018. Furthermore, the American Cancer Society estimated that in 2018, 1,735,350 new cancer cases were diagnosed 2018.

Global Infusion Pumps Market – By Type

  • Ambulatory Pumps
    • Enteral Pumps
    • Patient-Controlled Analgesia (PCA) Pumps
    • Insulin Pumps
  • Volumetric Pumps
    • Smart Pumps
    • Elastomeric Pumps
  • Syringe Pumps
  • Accessories

Global Infusion Pumps Market– By Application

  • Diabetes
  • Chemotherapy
  • Gastrointestinal Diseases
  • Pediatrics

Global Infusion Pumps Market– By End User

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Homecare

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