Technology Advancement in Infusion Pump Market - Global Forecast to 2026

 The infusion pump 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%. 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.

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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). 

In 2020, the healthcare industry was one of the hardest hit by the pandemic. Emergency treatments of COVID-19 patients pushed hospitals around the world to the breaking point. At the same time, elective surgeries had to be postponed or even canceled, further straining the already difficult financial situation of many hospitals since a large part of these surgeries are a critical component of covering hospital costs. Manufacturers of medical supplies, medical devices, and drugs were also heavily impacted by the pandemic. On the other hand, infusion pumps and ventilators can be considered critical devices, as these devices are used in ICUs, CCUs, and emergency departments. IV infusion is a common need in COVID wards. Infusion pumps are used in hospitals and other emergency centers to control and deliver doses of medication, and because they can be set to do this without constant supervision, they allow doctors and nurses to treat patients with minimal exposure to infection. Hence, the demand for infusion pumps grew significantly in 2020. This made the supply and distribution of infusion pumps a major challenge. Apart from this, the increasing demand for infusion pumps such as enteral feeding pumps and ambulatory infusion pumps in the home care sector is aiding market growth during this period. On the other hand, players operating in this market are estimating a decline in sales for the devices in the fourth quarter of 2021, which is expected to affect the market growth to a certain extent.

 

Browse through 374 market data tables and 81 figures spread across 415 pages as well as the in-depth TOC on the “Infusion Pump Market–Global Forecast to 2026.”

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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.

 

Volumetric infusion pump accounted for the largest share for the infusion pump dedicated accessories market

The volumetric infusion pump accessories & consumables segment accounted for the largest share of the dedicated accessories & consumables market in 2020. The large share of this segment can be attributed to the high adoption of volumetric infusion pumps and related accessories to deliver large volumes of medications and nutrients to patients in hospitals.

 

Infusion catheters accounted for the largest share for the infusion pump non-dedicated accessories market

The infusion catheters segment accounted for the largest share of the non-dedicated accessories & consumables market in 2020. The large share of this segment can be attributed to the recurrent use of infusion catheters compared to other non-dedicated accessories & consumables.

 

Diabetes segment holds the highest CAGR in the infusion pump market during the forecast period.

Based on Application, the diabetes management application segment is projected to witness the highest growth rate during the forecast period. The increasing incidence of diabetes and the rising demand for insulin pumps for the management of diabetes in home care settings are the major factors contributing to the growth of this segment.

 

Home care segment holds the highest CAGR in the infusion pump market during the forecast period.

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 infusion pumps 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 infusion pumps 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 infusion pumps market.

 

Study Coverage

This report describes and studies the Infusion pump Market based product, application, setting, and regional level. It provides detailed information regarding the major factors influencing the growth of this market. The report includes an in-depth competitive analysis and the product matrix of the prominent players in this market, along with their company profiles, product portfolios, recent developments, and MNM overview.

“Brief information on the research methodology for the report can be found in the report description provided on the website.”