According to the new market research report "Infusion Pump Market by Product [Accessories (Dedicated, Non-dedicated), Devices (Volumetric, Insulin, Syringe, Ambulatory)], Technology (Traditional, Specialty), Application (Cancer, Diabetes), & Setting (Hospital, Homecare) - Global Forecast to 2026", published by MarketsandMarkets™, the global market is expected to reach USD 20.5 Billion by 2026 from an estimated USD 13.2 Billion in 2021, at a CAGR of 9.3%.
Browse in-depth TOC on "Infusion
Pump Market"
374 – Tables
81 – Figures
429 – Pages
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The Growth in the market is largely driven by the rising demand
for ambulatory infusion pumps in home care, increasing incidence of chronic
diseases along with the rapid growth of the geriatric population, growing
number of surgical procedures performed, and increasing number of ICU beds in
countries with a high prevalence of COVID-19. On the other hand, product
recalls, stringent regulatory requirements for new products and increasing
adoption of refurbished and rental infusion pumps are expected to restrain the
overall market growth. Increasing incidence of medication errors and lack of
wireless connectivity in most hospitals is the most common challenge faced by
the market. High growth opportunities in emerging countries and growing adoption
of specialty infusion systems are the opportunity areas in infusion pump
market.
The accessories & consumables segment holds the
highest CAGR during the forecast period.
The accessories & consumables segment is estimated to grow
at the highest CAGR during the forecast period. The large share and high growth
of this segment can be attributed to the recurrent use of accessories &
consumables and the increasing adoption of infusion pumps for the delivery of
medications in a controlled environment.
Chemotherapy accounted for the highest share for the
infusion pump market
Based on application the chemotherapy/oncology application
segment accounted for the largest share of the market in 2020. The large share
of this segment can be attributed to the growing incidence of cancer,
increasing availability of ambulatory infusion pumps for chemotherapy, and the
introduction of technologically advanced products in the market.
Home care settings drive the growth of the infusion
pump market
Based on setting, the infusion pumps market has been segmented
into hospitals, home care settings, ambulatory care settings, and academic
& research institutes. The home care setting segment accounted for the
largest share of the market in 2020. Chronic diseases, such as cancer and
diabetes, require continuous monitoring and treatment. Ambulatory infusion
pumps for chronic disease management enable patients to remain mobile during
therapy sessions. Therefore, the use of ambulatory insulin pumps in the home
and alternate care segments has increased in the recent past.
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North America is
expected to account for the highest share for players operating in the infusion
pump market
Geographically, the infusion pumps market is segmented
into North America, Europe, APAC, Latin
America, and the Middle East & Africa. In 2020, North
America accounted for the largest share of the global market,
followed by Europe and the APAC. The
large share of North America can
primarily be attributed to the high adoption of specialty infusion pumps for
the treatment of chronic diseases, increasing prevalence of chronic diseases,
rising geriatric population, and the presence of many large hospitals in the
region. Moreover, a large number of major global players are based in the US,
owing to which the US is a center for innovation in the market.
The infusion pumps market is dominated by Becton, Dickinson and
Company (US), Baxter International Inc. (US), B. Braun
(Germany), Smiths Medical (US), Fresenius Kabi (Germany), and ICU
Medical, Inc. (US). These players adopted major growth strategies such as
product launches & approvals, collaborations, and expansions. Other
prominent players in the market include Terumo Corporation (Japan), Nipro Corporation (Japan),
Avanos Medical, Inc. (US), Tandem Diabetes Care, Inc. (US), JMS Co., Ltd. (Japan), Insulet Corporation (US), Roche Diagnostics (Switzerland), Zyno Medical (US), Teleflex, Inc. (US),
Mindray Medical International Limited (China),
Micrel Medical Devices SA (Greece), Ypsomed
Holding AG (Switzerland), InfuTronix Solutions
LLC (US), SOOIL Development Co., Ltd (South Korea),
Shenzhen MedRena Biotech Co., Ltd. (China), and
CODAN Medizinische Geräte GmbH & Co KG (Germany).
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