Infusion pumps are medical devices employed to deliver medications and fluids into patients body in controlled dosages. They are designed according to the usage; for example, for stationary use, the device is placed at patient bedside, and for ambulatory use, they can be wearable or portable. Infused fluids are various medications that are administered on the basis of patient conditions such as nutrients for eternal feeding, insulin, hormones, antibiotics, and others. Moreover, these pumps are widely used in healthcare settings such as patient, outpatient, private clinics, and at-home settings.
According to the report published by Allied Market Research, the infusion pumps & accessories market size was valued at $8138.49 Million in 2020, and is estimated to reach $13,264.18 Million by 2030, growing at a CAGR of 5.0% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Alarming rise in prevalence of disorders such as cancer and diabetes, rise in healthcare expenditures, rise in government & private funds for development of healthcare sectors, and increase in number of key players for infusion pumps & accessories are expected to notably contribute toward the growth of the global infusion pumps & accessories market during the forecast period.Onkar Sumant
Manager, Healthcare at Allied Market Research
The major factors that drive the growth of the infusion pumps & accessories market include increase in incidence of chronic diseases such as diabetes, cardiovascular disorders, and cancer; growth in geriatric population who are more prone to aforementioned disorders; numerous applications of infusion pumps; and upsurge in demand for home-based infusion pumps products. However, high risk of postoperative complications after endotracheal intubation and dearth of skilled professionals limit the market growth. Conversely, development of technologically advanced infusion pumps and untapped potential in the emerging economies are anticipated to provide numerous opportunities for the market growth during forecast period.
Key Findings of the Study
- By type, the accessories & disposables segment was the highest contributor to the market in 2020.
- On the basis of application type, the gastroenterology dominated the market in 2020, and is expected to continue this trend during the forecast period.
- On the basis of end user, the hospitals dominated the market in 2020, and is expected to continue this trend during the forecast period
- Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
North America accounted for a majority of the infusion pumps & accessories market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of chronic diseases, presence of key players, development of the healthcare sector, and presence of numerous infusion pump products. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of diabetes patients and improvement in healthcare infrastructure.
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- Key Market Players
- B. Braun Melsungen AG
- Baxter International Inc.
- Becton Dickinson & Company
- Fresenius SE & Co
- ICU Medical Inc.
- Insulet Corporation
- Johnson & Johnson
- Medtronic Plc
- Moog Inc.
- Terumo Corporation
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