According to DataHorizzon Research, The infusion pumps market size was valued at USD 12.8 Billion in 2022 and is expected to have a market size of USD 31.1 Billion by 2032 with a CAGR of 9.4%.
Fort Collins, Colorado, Sept. 28, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Infusion Pumps Market Size, Growth, Share, Statistics Report, By Type (Volumetric Pumps, Syringe Pumps, Elastomeric Pumps, Insulin Pumps, Enteral Pumps, Implantable Pumps, Patient Control Analgesia (PCA) Pumps), By Application, By End-User, By Region Forecasts, 2023-2032." Tianjin Industrial Pump
According to DataHorizzon Research, The infusion pumps market size was valued at USD 12.8 Billion in 2022 and is expected to have a market size of USD 31.1 Billion by 2032 with a CAGR of 9.4%. An infusion pump is a medical device that helps patients receive medications and nutrition in precise and measured volumes. Infusion pumps often operate in therapeutic settings such as hospitals, nursing homes, and residences. Compared to manual fluid administration, infusion pumps provide several benefits. They supervise the vitamin levels through medications, antibiotics, chemotherapy, hormones like insulin or other hormones, and painkillers.
The growing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases drives the demand for infusion pumps, as these devices are used for administering medications and fluids. Technological advancements in infusion pumps, such as developing smart pumps that detect errors and provide alerts, are driving the market expansion. There is an opportunity for manufacturers to develop infusion pumps with advanced features like real-time monitoring and data collection, improved accuracy, and wireless connectivity. These features improve patient outcomes, reduce the risk of medication errors, and improve efficiency.
With the increasing aging population, the demand for healthcare services is rising, and so is the demand for infusion pumps. The growing popularity of home healthcare has increased the need for infusion pumps, as patients now choose to receive treatment in the comfort of their homes instead of going to hospitals. This includes both ambulatory infusion pumps and insulin infusion pumps.
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Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors
Volumetric Pumps, Syringe Pumps, Elastomeric Pumps, Insulin Pumps, Enteral Pumps, Implantable Pumps, Patient Control Analgesia (PCA) Pumps
Diabetes, Oncology, Pain Management, Others
Hospitals, Ambulatory Care Settings, Specialty Clinics, Home Care Settings
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others
Baxter International, B. Braun Melsungen AG, Medtronic, Micrel Medical Devices SA, Boston Scientific Corporation, CareFusion Corporation, Fresenius Kabi, Smiths Medical, F. Hoffmann-La Roche Ltd., Tandem Diabetes Care, Inc., Terumo Corporation, Mindray, Moog Inc., IRadimed Corporation
The global infusion pumps market has been segmented as type, application, end-user, and region. The diabetes segment is leading the market with a significant share. Insulin pumps are mostly used in diabetes treatment. Insulin pumps are expected to dominate the infusion pump market with the largest share. The growth is attributed to the rising number of diabetes patients. These pumps are used to continuously deliver insulin, which can help to control blood sugar levels better.
North America is one of the largest markets for infusion pumps due to the high prevalence of chronic diseases, the presence of major key players, and the well-developed healthcare infrastructure. The region is also seen increasing adoption of home healthcare and ambulatory infusion pumps. The market is experiencing growth due to the rise of diabetes and the increasing use of insulin injection pens instead of vials and syringes.
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Infusion Pumps Market Report Highlights:
The global infusion pumps market growth is anticipated at USD 31.1 billion at a CAGR of 9.4% by 2032.
The infusion pumps market growth drivers include the demand for advanced therapeutics based on the increasing chronic diseases.
Based on type, insulin pumps dominated the global market in 2022 due to increased demand from diabetic patients.
Diabetes is a leading application segment, and the growth is anticipated to remain high in the forthcoming years.
North America became a significant market in the following years, attributed to the increase in demand for home healthcare and advances in the healthcare infrastructure.
Some prominent players in the infusion pumps market report include Baxter International, B. Braun Melsungen AG, Medtronic, Micrel Medical Devices SA, Boston Scientific Corporation, CareFusion Corporation, Fresenius Kabi, Smiths Medical, F. Hoffmann-La Roche Ltd., Tandem Diabetes Care, Inc., Terumo Corporation, Mindray, Moog Inc., and IRadimed Corporation.
Key Developments in the Industry:
In 2023, the U.S. FDA approved the Plum Duo Infusion Pump with Lifeshield Infusion safety software designed by ICU Medical Inc., a global leader in developing and manufacturing innovative medical devices.
In 2023, Baxter Healthcare Corporation recalled its Infusion pump products namely SIGMA Spectrum Infusion Pumps with Master Drug Library (V8) and Spectrum IQ Infusion Systems with Dose IQ Safety Software (V9) based on the reports of false alarms for upstream obstruction after the software upgrades in Version 8 and Version 9 respectively.
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Infusion Pumps Market Report Segmentation:
Infusion Pumps Market, By Type (2023-2032)
Patient Control Analgesia (PCA) Pumps
Infusion Pumps Market, By Application (2023-2032)
Infusion Pumps Market, By End-User (2023-2032)
Infusion Pumps Market, By Region (2023-2032)
Rest of Middle East & Africa
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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