The rising demand for ambulatory infusion pumps in home care settings, coupled with the increasing incidence of chronic diseases is some of the major factors driving the growth of the market.
The global Infusion
Pump Market is forecast to reach USD 20.21 Billion by 2027, according
to a new report by Reports and Data. The infusion pump market size is expected
to grow because of the growing demand in the medical sector. The rising number
of chronic diseases, including diabetes, gastroenterological disorders, and
cancer across the world, is expected to drive the market growth. This equipment
is used to transfer liquid into a patient's body with accurate and fixed
amounts. They are extensively used in hospitals and nursing homes to help the
patient in a critical condition. Moreover, the high demand for infusion systems
from the defense sector is anticipated to drive market growth.
Infusion pumps can be used for 2
purposes, including portable and stationary. Stationary infusion pumps are
primarily driven by the demand from hospitals for the patients. Portable
infusion pumps are wearable, and it can be used during traveling, giving it an
additional advantage over stationary infusion pumps. The market growth of
portable type is expected to escalate, that will minimize overall medical
expenditure. However, the rising adoption of rental and refurbished infusion
pumps is a major market restraint.
An infusion pump is used by a
health expert, who sets the time duration and speed of the transferred liquid
using a pre-installed software. The small-volume pumps focus on hormones or
medication, and the large volume pumps are used to feed patients. The infusion
pump delivers fluids in smaller volumes and at automated intervals, which is
not possible through manual administrated fluids. It provides several
medications, including pain relievers, antibiotics, insulin, and chemotherapy
drugs.
The COVID-19 impact:
With Covid-19 infections increasing across the globe, the apprehensions of
the shortage of essential life-saving devices and other necessary medical
supplies to provide optimum care to the infected and prevent the spread of this
pandemic also widens. Moreover, till treatment is developed, ventilators act as
a critical treatment preference for the COVID-19 patients, who shall require
essential care. Furthermore, there is a dire need for rapid manufacturing
processes for a wide range of test-kits, including self-administered, antibody
tests, and others.
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Further key findings from the report suggest
- The usage of insulin pumps for managing diabetes at
home has increased because of the increasing number of diabetic patients,
thereby propelling the growth of the insulin pump market.
- The enteral infusion pumps are an advanced infusion
pump that is used to reduce dosage errors during the transfer of fluid
nutrients and medications to a patient's digestive system.
- Among the application segment of this market,
chemotherapy is growing at the highest rate of 7.5% during the forecasted
period owing to an increasing number of cancer patients and increased use
of infusion pumps for the administration of medications to these patients.
- Hospitals are expected to register a huge growth
owing to various factors like the expertise availability, a rise in the
number of surgical procedures, and high purchasing power to buy infusion
equipment.
- North America is one of the prime contributors to
the market growth because of the presence of well-established healthcare
sectors in the region, the high adoption rate of specialty infusion pumps
for the treatment of chronic diseases, and the rising geriatric
population.
- Key participants include Becton, Dickinson and
Company, B. Braun Melsungen AG, Baxter International Inc., Fresenius Kabi,
ICU Medical, Inc., Smiths Medical, Medtronic Plc, Moog Inc., Terumo
Corporation, and Avanos Medical, Inc. among others.
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For the purpose of this report,
Reports and Data have segmented the global infusion pump market on the basis of
product, application, end-user industries, and region:
Product Outlook (Revenue, USD
Million; 2017-2027)
- Accessories & Consumables
- Devices
Application Outlook (Revenue,
USD Million; 2017-2027)
- Chemotherapy/Oncology
- Diabetes
- Gastroenterology
- Analgesia/Pain management
- Hematology
- Others
End-User Outlook (Revenue, USD
Million; 2017-2027)
- Hospitals
- Home Care Settings
- Ambulatory Care Settings
- Academic & Research Institutes
Regional Outlook (Revenue, USD
Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
In conclusion, the report offers
a comprehensive analysis of the factors expected to drive the global Infusion
Pump market growth over the forecast period of 2021-2028. The report is an
all-inclusive document covering the market landscape and a futuristic
perspective on its growth and progress. The report also provides an analysis of
the entry-level driving and restraining factors for the new entrants
contributing to the market. The report also offers strategic recommendations to
the established players as well as new entrants to help them gain a strong foothold
in the market.
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