The global infusion pump market accounted for a value of USD 12.0 billion in 2019 and is projected to register growth at a CAGR of 6.5% during forecast period.
COVID-19 has impacted the infusion pump market. The hospitals are witnessing shortage of personal protective equipment, ventilators and infusion pumps due to outbreak of corona virus. The infusion pump helps in delivering fluids and medication to the hospitalized corona virus patients. The technology like remote monitoring of infusion pumps so that COVID-19 patients can maintain safe distance from each other. The demand for infusion pump is rapidly increasing among the hospitals around the world. The infusion pump market is likely to witness growth due to COVID-19.
For more details, visit: Global Infusion Pump Market By Product (Accessories & Consumables and Devices), By Application (Diabetes, Hematology, Others), By End-Users (Hospitals, Home Care Setting, Others), By Region, Forecast & Opportunities to 2026
The incidence of chronic diseases is increasing due to increase in geriatric population around the world. The demand for ambulatory infusion pumps is rising rapidly along with the growing volume of surgical procedures performed around the world. This increases adoption of infusion pumps along with the increase in adoption of refurbished infusion pump and drives growth in infusion pump market during forecast period.
On the basis of product, the infusion pump market is segmented into accessories & consumables and devices. The accessories & consumables segment is estimated to register growth at highest CAGR during forecast period. The use of accessories & consumables is increasing as the adoption of infusion pump is increasing for the purpose of delivery of medication into patient’s system. The increasing demand for accessories & consumables around the world drives growth in this segment during forecast period.
On the basis of application, the infusion pump market is segmented into diabetes, oncology/chemotherapy, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology and others. The diabetes segment is estimated to register growth at highest CAGR during forecast period. The incidence of diabetes is increasing around the world and this increases the demand for insulin pumps for the management of diabetes. This increases the demand for infusion pump in diabetes segment during forecast period.
North America region accounted for the largest market share in 2019 and it is estimated to dominate market during forecast period. The adoption of specialty infusion pumps is increasing highly for the treatment of chronic diseases as the incidence of chronic diseases is increasing in this region. The geriatric population is also increasing in this region and there is a presence of large hospitals using new and advanced technologies. The technological advancement is increasing in infusion pump market due to presence of major market players in this region.
The key market players in infusion pump industry are Becton, Dickson and Company, B. Brun Melsungen AG, Baxter International Inc., Fresenius Kabi, ICU Medical Inc., Smith Medical, meditronic Plc., Moog Inc., Terumo Corporation, Avanos Medical Inc., Nipro Corporation, Insulet Corporation, Tandem Diabetes Care Inc., JMS Co. Ltd., Zyno Medical, Teleflex Inc., Micrel Medical Devices S.A. and Ypsomed Holding AG.
- What are the expected industry trends over the next three to five years?
- Which of the infusion pump product is likely to lead by 2026?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?