Infusion pumps are medical devices, which are used to deliver fluids, nutrients, or medications, such as insulin and other hormones, chemotherapy drugs, antibiotics, and pain relievers into a patient’s body at preset intervals in accurate dosages. The infused fluids and medications play vital role in therapeutics or medical treatments, and are widely used in healthcare settings such as patient, outpatient, private clinics, and at-home settings.
Increase in prevalence of chronic diseases, such as cancer and diabetes and rise in healthcare expenditure are major factors that contribute in the growth of the infusion pumps & accessories market. Moreover, other factors that fuel the market growth include, increase in adoption of infusion pumps products and rise in geriatric population. In addition, many companies are increasing their market presence by expanding their business across new markets. For instance, in March 2021, JMS CO. Ltd. launched a new syringe pump designed for eternal nutrition applications. These aforementioned factors drive the growth of the infusion pumps & accessories market.
Furthermore, increase in awareness towards home healthcare, surge in production of infusion pumps, and increase in awareness among people about the use of infusion pumps are factors that boost the market growth. According to International Diabetes Federation in 2019, approximately 463 million people lived with diabetes. Thus, rise in number of diabetes patients and advancements in infusion pumps product development are expected to drive the growth of the market.
Conversely, technological advancement and companies efforts to launch new product pipeline in emerging economies are expected to offer lucrative growth opportunities in the infusion pumps & accessories market. Whereas, stringent government regulations for the approval of infusion pump devices and risks associated with infusion therapies are anticipated to hinder the market growth. People, nowadays, are more health conscious, which in turn, compels them to maintain their health condition and thus, increase the demand for home healthcare products. This encourages many key players to enter emerging markets and offers a lucrative growth opportunity in the infusion pumps & accessories market.
The infusion pumps & accessories market is segmented on the basis of type, application, end user, and region. By Type, the market is categorized into devices & pumps and accessories & disposables. Furthermore, the devices & pumps segment is divided into syringe infusion pumps, insulin infusion pumps, volumetric infusion pumps, ambulatory infusion pumps, patient controlled analgesia pumps, implantable infusion pumps, and enteral infusion pumps. The accessories & disposables segment is divided into infusion catheters, valves, IV sets, cannulas, tubing, needles, and other disposables.
By application, it is fragmented into diabetes, gastroenterology, analgesia & pain management, chemotherapy, pediatrics & neonatology, and others.
BY End user, it is divided into hospitals, homecare, ambulatory surgical centers, and others.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global infusion pumps & accessories market are B. Braun Melsungen AG, Baxter International, Becton Dickinson & Company, Fresenius SE & Co., ICU Medical Inc., Insulet Corporation, Johnson & Johnson, Medtronic Plc, Moog Inc., and Terumo Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global infusion pumps & accessories market to identify the prevailing opportunities
- This study presents the competitive landscape of the global market to predict the competitive environment across geographies
- Comprehensive analysis of factors that drive and restrict the market growth is provided
- Region- & country-wise analysis is provided to understand the market trends and dynamics
KEY MARKET SEGMENTS
By Product
- Devices & Pumps
- Syringe Infusion Pumps
- Insulin Infusion Pumps
- Volumetric Infusion Pumps
- Ambulatory Infusion Pumps
- Patient Controlled Analgesia Pumps
- Implantable Infusion Pumps
- Enteral Infusion Pumps
- Accessories & Disposables
- Infusion Catheters
- Valves
- IV sets
- Cannulas
- Tubing
- Needles
- Other Disposables
By Application
- Diabetes
- Gastroenterology
- Analgesia & Pain Management
- Chemotherapy
- Pediatrics & Neonatology
- Other Applications
By End User
- Hospitals
- Home Care
- Ambulatory Surgical Centers
- Other End Users
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- B Braun Melsungen AG
- Baxter International Inc
- Becton Dickinson & Company
- Fresenius SE & Co
- ICU Medical Inc
- Insulet Corporation
- Johnson & Johnson
- Medtronic Plc
- Moog Inc
- Terumo Corporation
What is the estimated value of the Infusion Pumps & Accessories Market?
What is the growth rate of the Infusion Pumps & Accessories Market?
What is the forecasted size of the Infusion Pumps & Accessories Market?
Who are the key companies in the Infusion Pumps & Accessories Market?
Table of Contents
Executive Summary
According to a new report titled, “Infusion Pumps & Accessories Market by Type, Application Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,the infusion pumps & accessories market size was valued at $8,138.49 million in 2020, and is estimated to reach $13,264.18 million by 2030, growing at a CAGR of 5.0% from 2021 to 2030.Infusion pumps are medical devices employed to deliver medications and fluids into patient’s body in controlled dosages. They are designed according to the usage; for example, for stationary use, the device is placed at patient bedside, and for ambulatory use, they can be wearable or portable. Infused fluids are various medications that are administered on the basis of patient conditions such as nutrients for eternal feeding, insulin, hormones, antibiotics, and others. Moreover, these pumps are widely used in healthcare settings such as patient, outpatient, private clinics, and at-home settings.
The factors that drive the growth of the infusion pumps & accessories market include increase in prevalence of chemotherapy procedures and rise in demand of infusion pumps for pediatric use. Moreover, rise in demand for ambulatory infusion pumps in home care settings, also fuel the growth of the market. However, stringent governmental regulations and reforms associated with infusion therapy impede the market growth. Conversely, the development of new product by key players along with large production of infusion pumps and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.
The major factors that drive the growth of the infusion pumps & accessories market include increase in incidence of chronic diseases such as diabetes, cardiovascular disorders, and cancer; growth in geriatric population who are more prone to aforementioned disorders; numerous applications of infusion pumps; and upsurge in demand for home-based infusion pumps product. For instance, in February 2021, Mindray Medical has launched BeneFusion e series-esp, evp, and eds, new infusion systems for expanding its product portfolio. Moreover, in 2020, Medtronic Plc has launched Exillia infusion pump to cater the increasing demand in COVID-19 pandemic. Thus, development of infusion pump devices by key players propels the growth of the market.
Early diagnosis of chronic diseases at or near bedside or at home increases the chances of successful treatment and further minimizes the hospital expenditure. The home healthcare market is gaining popularity as it is a cost-effective alternative to hospital-based treatments of chronic diseases. Home-based infusion pumps provide better and immediate results. In addition, Portable Elastomeric Infusion System developed by Baxter International Inc. is a home-based infusion system that provides 30 minutes to 5 hours of continuous infusion. It is used or ambulatory medication therapies that need intermittent infusion and can be used to administer outpatient parenteral antimicrobial therapy (OPAT). Therefore, growth in demand for home-based healthcare drives the growth of the infusion pumps and accessories market.
The infusion pumps & accessories market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is segmented into devices & pumps and accessories & disposables. Furthermore, the devices & pumps is divided into syringe infusion pumps, insulin infusion pumps, volumetric infusion pumps, ambulatory infusion pumps, patient controlled analgesia pumps, implantable infusion pumps and enteral infusion pumps. The accessories & disposables segment is divided into infusion catheters, valves, IV sets, cannulas, tubing, needles, and other disposables.
The accessories & disposables segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of product approvals, advancements in R&D activities in pharmaceutical & medical device industries, and surge in adoption of infusion pump products.
By application, it is fragmented into diabetes, gastroenterology, analgesia & pain management, chemotherapy, pediatrics & neonatology, and others. The gastroenterology acquired top position in the market in 2020, and this trend is expected to continue during the forecast period, owing to large number of infusion pump products offered by key players.
By End user, it is divided into hospitals, homecare, ambulatory surgical centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA
North America accounted for a majority of the global infusion pumps & accessories market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in number of approvals, rise in presence of key players, and surge in development of technology for healthcare in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of cancer cases, rise in chemotherapy procedures, and growth in health care expenditures.
Key Findings Of The Study
- By type, the accessories & disposables segment was the highest contributor to the market in 2020
- On the basis of application type, the gastroenterology dominated the market in 2020, and is expected to continue this trend during the forecast period
- On the basis of end user, the hospitals dominated the market in 2020, and is expected to continue this trend during the forecast period
- Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
- North America accounted for a majority of the infusion pumps & accessories market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of chronic diseases, presence of key players, development of the healthcare sector, and presence of numerous infusion pump products Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of diabetes patients and improvement in healthcare infrastructure
Companies Mentioned
- B. Braun Melsungen AG
- Baxter International
- Becton Dickinson & Company
- Fresenius SE & Co.
- ICU Medical Inc.
- Insulet Corporation
- Johnson & Johnson
- Medtronic Plc, Moog Inc.
- Terumo Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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