Increasing demand for pain management drives market growth. Rising incidence of chronic diseases also contributes to market growth. Infusion pumps allow for continuous delivery of medications such as antibiotics, chemotherapy drugs, and pain-relieving drugs to patients. This helps in managing various chronic diseases and minimizing pain.
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Technological advancements in infusion pump design such as use of portable and wearable pumps boost the market growth.
Market Trends
Adoption of specialty pumps is a key trend driving market growth. This is due to growing incidence of premature births and chronic intestinal conditions. Specialty infusion pumps such as enteral infusion pumps are used to deliver nutrition directly to the gastrointestinal tract.
Another key trend gaining traction is increasing demand for ambulatory infusion pumps. This is due to increasing preference for home healthcare. These pumps allow patients to remain mobile during chemotherapy or antibiotic treatments.
Infusion Pump Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$9.62 billion |
|
Estimated Value by 2030 |
$16.91 billion |
|
Growth Rate |
Poised to grow at a CAGR of 8.4% |
|
Historical Data |
2017–2021 |
|
Forecast Period |
2023–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product, By Technology, By Usage, By Application, By End User |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
• Growing burden of chronic disease • Growing geriatric (aging) population |
|
Restraints & Challenges |
• Safety issues and stringent regulations • High cost of infusion pumps |
Market Opportunities
Large volume infusion pumps are anticipated to hold the dominant position in the product segment. This is owing to significant usage of these pumps for intravenous fluid administration procedures in hospitals. Large volume infusion pumps provide precise fluid administration. They help hospitals manage patient care more effectively by reducing nursing workload.
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The specialty pumps segment will drive the demand for infusion pumps market. These pumps have features like wireless connectivity, intuitive touchscreens and increased mobility. This makes medication delivery more convenient. Fast growing therapeutic areas like oncology and diabetes rely heavily on specialty infusion devices.
Key Market Takeaways:
The global infusion pumps market was valued at US$ 9.62 Bn in 2023. It is anticipated to witness a CAGR of 8.4% during the forecast period.
Technological advancements in infusion therapy delivery systems with enhanced safety features are expected to drive market growth.
On the basis of product, the large volume infusion pumps segment is expected to hold a dominant position. This is owing to widespread usage of these devices for intravenous administration in hospitals.
Based on technology, the traditional infusion pumps segment currently dominates the market. However, specialty infusion pumps are likely to witness faster growth.
By usage, the stationary infusion pumps segment holds the largest market share. This is due to high adoption in hospitals.
In terms of application, the oncology segment dominates the market. This is due to growing cancer prevalence globally.
North America is expected to dominate the global market. This is due to strategic developments by key players and presence of advanced healthcare infrastructure.
Competitor Insights
- BD
- Fresenius Kabi
- ICU Medical
- Smith’s Medical
- Medtronic
- B. Braun Melsungen.
Recent Developments:
In February 2023, Mindray announced the launch of Benefusion i series and u series infusion system. These systems feature high precision, adaptive customization, and simplicity.
In March 2022, Shanghai MicroPort Lifesciences Co., Ltd received marketing approvals from China’s National Medical Products Administration (NMPA). It independently developed new AutoEx Chemotherapy Infusion Pump.
In November 2020, Baxter received Health Canada marketing authorization for its Novum IQ Infusion Platforms.
In June 2019, the U.S. Food and Drug Administration (FDA) issued clearance for Ivenix Infusion System. The Ivenix Infusion System met the FDA guidelines to address recurring safety problems associated with infusion pumps.
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Detailed Segmentation:
By Product:
- Large Volume Infusion Pumps
- Syringe Infusion Pumps
- Insulin Pumps
- Enteral Feeding Pumps
- Elastomeric Pumps
- Implantable Pumps
By Technology:
- Traditional
- Specialty
By Usage:
- Stationary
- Ambulatory
By Application:
- Oncology
- Diabetes
- Gastroenterology
- Pediatrics and Neonatology
- Pain Management
- Others
By End User:
- Hospitals
- Home Healthcare Settings
- Nursing Homes
- Others
By Geography:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
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