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 global infusion pumps & accessories industry generated $8.1 billion in 2020, and is anticipated to generate $13.2 billion by 2030, witnessing a CAGR of 5.0% from 2021 to 2030.
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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.
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.
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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North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global infusion pumps & accessories market. This is owing to the robust infrastructure provided for research activities and presence of key players across North America. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 5.3% during the forecast period, owing to increase in use of Infusion pump & accessories products, R & D activities for new product launch, and rise in investments in the healthcare sector in the region.
Leading 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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