The global chemotherapy infusion pumps market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are an increase in the incidence and prevalence of cancer. Chemotherapy is a drug-based treatment that is used to control, cure, or relieve the symptoms of cancer. It can be used to cure and control cancer in its early stages. It is also used to alleviate symptoms of cancer in its later stages. Chemotherapy pumps, also known as chemotherapy infusion pumps, assist in controlled administration of chemotherapy drugs. Chemotherapy infusion pump is made of a hard plastic bottle with a balloon inside those holds the chemotherapy drug. The balloon pushes chemo into the patient’s body and flow restrictor (outside the balloon) aids in restricting flow of the chemo. After cardiovascular diseases, cancer is one of the leading causes of death worldwide.
An infusion pump is a medical device that administers fluids into a patient’s body in a precise and controlled manner. Infusion pumps come in a variety of shapes and sizes, and they are used for a variety of purposes. Infusion pumps are devices that deliver large or small amounts of fluids, as well as nutrients and medications such as antibiotics, chemotherapy drugs, insulin or other hormones, and pain relievers.
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Major Factors Driving Growth of The Global Chemotherapy Infusion Pumps Market:
An increase in incidence and prevalence of cancer is driving the global chemotherapy infusion pumps market. Furthermore, an increase in use of chemotherapy infusion pumps for delivery of chemo medicines, as well as an increase in geriatric population and advancements in health care, are expected to propel global chemotherapy infusion pumps market forward in coming years. Furthermore, existing market participants are employing advanced techniques and strategies to develop novel methods for manufacturing technologically enhanced infusion pumps. This is likely to drive demand for chemotherapy infusion pumps during the forecast period. However, frequent product recalls and strict government regulations are expected to limit market growth in the coming years.
Factors Restraining Growth of The Global Chemotherapy Infusion Pumps Market:
Chemotherapy infusion pumps are operated in a variety of ways and are powered by electrical or mechanical stimulations. Syringe pumps, elastomeric pumps, smart pumps, and other types of pumps are available. In the coming years, frequent product recalls and stringent government regulations are expected to restrain the market.
Opportunities For Players Operating in The Global Chemotherapy Infusion Pumps Market:
Innovative, cost-effective, and safe products are being introduced into the market by major players. Manufacturers are concentrating on developing modern or smart syringe pumps that are programmed with high accuracy and proper fluid control to reduce errors. These pumps are used in conjunction with dose error reduction software, which could help ensure safe chemotherapy treatment in hospitals and at home. These may create numerous opportunities for firms in this market.
Global Chemotherapy Infusion Pumps Market Revenue Led by Product Type Segment:
In terms of revenue, LVP is expected to have the largest market share among the type segments. During the chemotherapy treatment procedure, the large volume pump is commonly used to administer drug doses. In addition, it aids in administration of precise fluid amounts.
Global Chemotherapy Infusion Pumps Market Leading End-Use Segment:
Over the forecast period, the hospital is expected to generate the most revenue among the application segments. This is due to an increase in number of healthcare settings and oncology care centers around the world.
Accounts for Largest Revenue Share in Global Chemotherapy Infusion Pumps Market:
North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa are the regions in which the global chemotherapy infusion pumps market can be divided. Because of the high rate of adoption of chemotherapy infusion pumps in the region, North America dominated the market in 2017. Additionally, an increase in cancer prevalence and presence of a large number of manufacturers in North America are expected to drive the chemotherapy infusion pumps market during the forecast period. This could be due to an increase in cancer awareness programs and government initiatives in countries like the United States and Canada to promote chemotherapy insulin pumps.
Asia Pacific Continues to Lead In Terms Of Revenue CAGR:
In the near future, Asia Pacific is expected to be a highly profitable region for chemotherapy infusion pumps. Due to a large population base, an increase in number of hospitals, and an increase in adoption of infusion pumps for chemotherapy, market in these regions is expected to grow rapidly during the forecast period. Over the next few years, market in Asia Pacific is expected to grow at the fastest rate. This is primarily due to improved medical infrastructure and an increase in number of patients in Asia Pacific countries suffering from various types of cancer.
Major Companies Profiled in The Report:
- Becton, Dickinson
- ICU Medical
- Halyard Health
- Baxter International
- vTitan Corporation
- Zyno Medical
- Micrel Medica
Strategies And Objectives Of Major Companies:
In January 2023, Zoho Corporation, a software development company backed by vTitan Corporation, a healthcare company, released the Accuflow IBP-550 Syringe Infusion Pumps, which are used by critical care patients undergoing chemotherapy, pain medication, and heart surgery.
What Our Report Provides and Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global Chemotherapy Infusion Pumps Market is segmented on the basis of product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- LVP (Large Volume Pump)
- Syringe Pump
- Elastomeric Pumps
End-use Outlook (Revenue, USD Billion; 2023-2032)
- Hospital & Clinic
- Home Care
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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