Global Infusion Pumps Market Driven by Increasing Incidence of Chronic Diseases
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By HospiMedica International staff writers Posted on 08 Nov 2022 |
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An infusion system consists of a pump (device) and associated disposables for delivering fluids, such as nutrients and medications, into a patient's body in controlled amounts. These devices are efficiently used for infusion through several routes of administration, such as intravenous, epidural, arterial, subcutaneous, peritoneal, enteral, and intrathecal. They enable the delivery of solutions in a predetermined and controlled manner and are thus helpful in managing chronic diseases and associated pain. Rising demand for ambulatory infusion pumps in home care, increasing incidence of chronic diseases along with a rapid growth of the geriatric population, and growing number of surgical procedures being performed, are driving the growth of the global infusion pumps market. However, product recalls, stringent regulatory requirements for new products, and increasing adoption of refurbished and rental infusion pumps could restrain market growth. As a result, the market is projected to register a CAGR of 7% from USD 14.7 billion in 2022 to USD 20.5 billion by 2027.
These are the latest findings of MarketsandMarkets INC. (Northbrook, IL, USA), a provider of quantified B2B research.
Based on products, the accessories & consumables segment of the infusion pumps market is estimated to register the highest CAGR during the forecast period due to the recurrent use of accessories & consumables and increasing adoption of infusion pumps for delivery of medications in a controlled manner. Based on type, the infusion catheters segment accounted for the largest share of the non-dedicated accessories and consumables market in 2021, owing to the recurrent use of infusion catheters compared to other non-dedicated accessories and consumables.
Based on technology, the traditional infusion pumps segment accounted for the largest market share in 2021, led by the wider applicability of traditional infusion pumps, their low cost compared to specialty infusion pumps, and their high adoption rate in hospitals. Based on applications, the diabetes management segment of the infusion pumps market is projected to register the highest CAGR during the forecast period due to the increasing incidence of diabetes and rising demand for insulin pumps for management of diabetes in home care settings.
Based on setting, the home care setting segment of the infusion pumps market is expected to register the highest CAGR during the forecast period. Technological advancements in manufacturing infusion pumps that are compact and lightweight which can be easy to carry and operate, coupled with increasing awareness and acceptance of ambulatory infusion pumps (such as disposable pumps) in home care settings to reduce hospital stays, is fuelling the growth of the infusion pumps market for home care settings. Geographically, APAC is the fastest-growing infusion pumps market globally primarily due to the increasing prevalence of chronic diseases such as obesity, heart disease, diabetes, and other chronic diseases, rising geriatric population, and increasing investments by major market players in the APAC region.
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