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.
The infusion pumps & accessories market size was valued at $8,138.49 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.
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Infusion pumps are medical devices employed to deliver medications and fluids into patient’s 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.
High prevalence of chronic diseases, surge in global geriatric population, growth in demand for home healthcare, and infusion pumps possess wide range of application drive the growth of the global infusion pumps & accessories market. However, several errors associated with infusion pumps and stringent government regulations hinder the market growth. On the other hand, various growth opportunities from emerging economies and development of efficient infusion pumps present new opportunities in the coming years.
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.
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.
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global infusion pumps & accessories market.
- A significant rise in the usage of infusion pumps during the pandemic has increased the production of infusion pumps and accessories, which is anticipated to drive the infusion pumps and accessories market.
- Moreover, new innovations by the key players has propelled the growth of the market.
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