CHICAGO, July 29, 2021 /PRNewswire/ -- According to the
new market research report "Infusion Pump Market by
Product [Accessories (Dedicated, Non-dedicated), Devices
(Volumetric, Insulin, Syringe, Ambulatory)], Technology
(Traditional, Specialty), Application (Cancer, Diabetes), &
Setting (Hospital, Homecare) - Global Forecast to 2026",
published by MarketsandMarkets™, the global market is expected to
reach USD 20.5 Billion by 2026 from
an estimated USD 13.2 Billion in
2021, at a CAGR of 9.3%.
Browse in-depth TOC on "Infusion Pump Market"
374 – Tables
81 – Figures
429 – Pages
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The Growth in the market is largely driven by the rising demand
for ambulatory infusion pumps in home care, increasing incidence of
chronic diseases along with the rapid growth of the geriatric
population, growing number of surgical procedures performed, and
increasing number of ICU beds in countries with a high prevalence
of COVID-19. On the other hand, product recalls, stringent
regulatory requirements for new products and increasing adoption of
refurbished and rental infusion pumps are expected to restrain the
overall market growth. Increasing incidence of medication errors
and lack of wireless connectivity in most hospitals is the most
common challenge faced by the market. High growth opportunities in
emerging countries and growing adoption of specialty infusion
systems are the opportunity areas in infusion pump market.
The accessories & consumables segment holds the highest
CAGR during the forecast period.
The accessories & consumables segment is estimated to grow
at the highest CAGR during the forecast period. The large share and
high growth of this segment can be attributed to the recurrent use
of accessories & consumables and the increasing adoption of
infusion pumps for the delivery of medications in a controlled
environment.
Chemotherapy accounted for the highest share for the infusion
pump market
Based on application the chemotherapy/oncology application
segment accounted for the largest share of the market in 2020. The
large share of this segment can be attributed to the growing
incidence of cancer, increasing availability of ambulatory infusion
pumps for chemotherapy, and the introduction of technologically
advanced products in the market.
Home care settings drive the growth of the infusion pump
market
Based on setting, the infusion pumps market has been segmented
into hospitals, home care settings, ambulatory care settings, and
academic & research institutes. The home care setting segment
accounted for the largest share of the market in 2020. Chronic
diseases, such as cancer and diabetes, require continuous
monitoring and treatment. Ambulatory infusion pumps for chronic
disease management enable patients to remain mobile during therapy
sessions. Therefore, the use of ambulatory insulin pumps in the
home and alternate care segments has increased in the recent
past.
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North America is expected to
account for the highest share for players operating in the infusion
pump market
Geographically, the infusion pumps market is segmented into
North America, Europe, APAC, Latin
America, and the Middle
East & Africa. In 2020,
North America accounted for the
largest share of the global market, followed by Europe and the APAC. The large share of
North America can primarily be
attributed to the high adoption of specialty infusion pumps for the
treatment of chronic diseases, increasing prevalence of chronic
diseases, rising geriatric population, and the presence of many
large hospitals in the region. Moreover, a large number of major
global players are based in the US, owing to which the US is a
center for innovation in the market.
The infusion pumps market is dominated by Becton, Dickinson and
Company (US), Baxter International Inc. (US), B. Braun (Germany), Smiths Medical (US), Fresenius
Kabi (Germany), and ICU Medical, Inc. (US). These players adopted
major growth strategies such as product launches & approvals,
collaborations, and expansions. Other prominent players in the
market include Terumo Corporation (Japan), Nipro Corporation (Japan), Avanos Medical, Inc. (US), Tandem
Diabetes Care, Inc. (US), JMS Co., Ltd. (Japan), Insulet Corporation (US), Roche
Diagnostics (Switzerland), Zyno
Medical (US), Teleflex, Inc. (US), Mindray Medical International
Limited (China), Micrel Medical
Devices SA (Greece), Ypsomed
Holding AG (Switzerland),
InfuTronix Solutions LLC (US), SOOIL Development Co., Ltd
(South Korea), Shenzhen MedRena
Biotech Co., Ltd. (China), and
CODAN Medizinische Geräte GmbH & Co KG (Germany).
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