"Rising Chronic Disease Cases and Advancements in Medical Technology Drive Rapid Growth in the Infusion Pump Market"
BOSTON, Nov. 8, 2024 /PRNewswire/ -- "According to the latest study from BCC Research "Infusion Pumps and Devices: Technologies and Global Markets," the global market is expected to grow from $10.1 billion in 2024 to $14.7 billion by the end of 2029 at a compound annual growth rate (CAGR) of 7.7% during the forecast period of 2024 to 2029."
This report provides an in-depth analysis of the infusion pump market, including the market shares of leading companies. The market is segmented by product types, including general-purpose infusion pumps, such as large-volume, syringe, electronic ambulatory, and elastomeric pumps, as well as specialty pumps such as insulin, patient-controlled analgesia, enteral, and implantable infusion pumps. The report focuses on application areas such as diabetes management, pain management/analgesia, nutrition, chemotherapy/oncology, and other therapeutic uses. End users are categorized into hospitals, home care, and alternate site care settings.
This report is especially relevant now due to the escalating prevalence of chronic diseases such as diabetes, cancer, and cardiovascular conditions, alongside the rapidly aging global population. These factors have significantly increased the demand for more sophisticated and reliable infusion pumps to manage complex treatment protocols, including smart infusion pumps with enhanced safety features and wireless connectivity. Another trend is the shift toward home-based healthcare, driven by patient preference and the need to reduce hospital stays, which has created demand for portable, user-friendly infusion devices.
The following factors are driving the global market for infusion pumps:
Growing Incidence of Chronic Disease: Chronic diseases such as diabetes, cancer, and cardiovascular conditions necessitates continuous and precise medication management, which infusion pumps provide. In addition, as the global population ages, the incidence of these chronic conditions rises and the elderly often require long-term treatments.
Rising Number of Surgeries: The number of surgical procedures is on the rise due to advancements in medical technology and an aging population that requires more surgical interventions. Infusion pumps play a critical role during surgeries for administering anesthesia and other medications, as well as in post-operative care for pain management and recovery. Their ability to deliver precise doses of medication helps reduce complications, making them indispensable in surgical settings.
Demand for Ambulatory Infusion Pumps in Home Care Settings: Growing trend towards home-based healthcare is driven by the need to reduce hospital stays and healthcare costs. Ambulatory infusion pumps are portable and allow patients to receive continuous medication at home. These pumps are cost-effective and enable patients to maintain their daily routines while receiving needed treatments.
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Report Synopsis
Report Metrics | Details |
Base year considered | 2023 |
Forecast period considered | 2024-2029 |
Base year market size | $9.5 billion |
Market size forecast | $14.7 billion |
Growth rate | CAGR of 7.7% for the forecast period of 2024-2029 |
Segment covered | Products, applications, end users and Region |
Regions covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Countries covered | U.S., Canada, Germany, U.K., France, Italy, China, Japan, and India |
Market Drivers | • Growing chronic disease coupled with increasing geriatric population. • Rising number of surgeries. • Increasing demand for ambulatory infusion pumps, mainly in home care settings. |
Interesting facts about the global market for infusion pumps:
- Insulin Pumps: account for the largest share of the global infusion market, led by companies like Insulet and Medtronic.
- Home Care settings: are the preferred site for infusion pumps due to their ease of use and cost-effectiveness.
- AI and Remote Monitoring Integration: will revolutionize infusion pumps, with more accurate and user-friendly solutions.
The report addresses the following questions:
- What is the infusion pump market's projected size and growth rate?
- The global infusion pump market is expected to grow at a CAGR of 7.7% to reach $ 14.7 billion by 2029, up from $10.1 billion in 2024.
2.What are the factors driving the growth of the infusion pump market?
- The growing incidence of chronic diseases coupled with the increasing geriatric population, rising number of surgeries, and demand for ambulatory infusion pumps, mainly in home care settings.
3.Which market segments are covered in the report?
- The infusion pump market is segmented by product, application, end-user, and region.
4.Which product segment will dominate the market by the end of 2029?
- The specialty infusion pumps segment.
5.Which region has the highest market share in the infusion pump market?
- North America holds the highest share of the market.
Leading companies in the market include:
- AVANOS MEDICAL INC.
- B. BRAUN SE
- BAXTER
- BECTON DICKINSON
- CARDINAL HEALTH
- FRESENIUS SE & CO. KGAA
- ICU MEDICAL INC.
- INSULET CORP.
- MEDTRONIC
- SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO. LTD.
- TERUMO CORP.
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