The global intravenous infusion pump market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are rising geriatric population and increasing number of people suffering from chronic ailments such as cancer, diabetes, and chronic pain where these pumps are used to control drugs during treatment.
Intravenous infusion pumps are mainly used to deliver fluids such as medications, nutrition, and antibiotics in a precise and regulated manner to the patient. These pumps are used in hospitals, home settings, ambulatory surgery centers, infusion clinics, and long-term care institutions. High frequency of chronic diseases and increasing healthcare spending, particularly on hospitalization has led to rising demand for home healthcare around the world. In comparison to costly hospital care, home healthcare offers consumers affordable choice. Therefore, there is increasing demand for infusion pump products, which is expected to boost market growth going ahead.
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Factors Restraining Growth Of The Global Intravenous Infusion Pump Market:
The global intravenous infusion pump market growth is substantially hampered by several unfavorable factors. Software defects leads to a number of difficulties such as failure to activate pre-programmed alarms, while others do so even when there isn\’t a problem, which is a major factor restraining market growth. Over-infusion or under-infusion can also be caused by software faults. Confusing or unclear on-screen instructions often lead to incorrect programming of infusion rates or doses. Components such as pump housings that break under routine use, premature battery failures, sparks, or pump fire can create risks to patients, including possibility of over-infusion or under-infusion of critical fluids, which is expected to cause a slow-down in market growth.
Opportunities For Players Operating In The Global Intravenous Infusion Pump Market:
Technological advancement has led to development of products with improved features. This is a major factor expected to open up lucrative business opportunities for major players and new entrants in global market. In addition, various companies in this market are concentrating on manufacturing inventive and creative products in order to gain a competitive advantage over their competitors.
Global Intravenous Infusion Pump Market Revenue Led By Type Segment:
Based on type, the volumetric infusion pumps segment is expected to account for largest revenue share over the forecast period. This is due to rising usage of technologically advanced volumetric infusion pumps with features such as EHR connection, built-in safety systems, and a drug library, which is a list of pharmaceuticals kept in smart pump\’s memory and serves as a significant tool for preventing medication errors. As developing nations socio-economic prospects are improving, more individuals are expected to adopt volumetric pumps in home-healthcare settings further driving market growth going ahead.
Global Intravenous Infusion Pump Market Leading Application Segment:
Based on the application, the oncology segment is expected to reach the highest revenue share over the forecast period. This is attributed to rising cases of patients suffering from cancer that is driving demand for these pumps, which are used to give medications during cancer therapy.
Global Intravenous Infusion Pump Market Leading End-Use Segment:
Based on the end-use, the market is segmented into hospitals, home care settings, ambulatory care settings, and academic and research institutes. The hospitals segment is expected to dominate all other segments in terms of revenue generation over the forecast period. Strong financial capability of hospitals for purchasing high-priced infusion equipment, large patient pool treated at hospitals, and availability of competent personnel to run infusion pumps are factors contributing to the segment\’s growth.
North America Accounts For Largest Revenue Share In Global Intravenous Infusion Pump Market:
Among regional markets, North America emerged as the largest market for intravenous infusion pumps in 2020, with the highest revenue share. Factors such as well-developed medical infrastructure, rising prevalence of chronic diseases, and advancements in infusion technology are expected to boost market revenue growth during the forecast period. Furthermore, availability of efficient insurance and medical device reimbursement regulations as well as strong local presence of leading manufacturers and significant exporters of intravenous infusion pumps are other factors expected to drive growth of this region.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific intravenous infusion pump market is expected to register the fastest growth in CAGR of over the forecast period. Alarming rise in burden of chronic diseases such as cancer and diabetes, rising number of surgical procedures, rapid adoption of innovative medical devices, and presence of major global players are some key factors driving market growth in this region.
Major Companies Profiled In The Report:
- Hoffmann-La Roche Ltd.
- Fresenius SE & Co. KGaA
- Braun Holding GmbH & Co. KG
- Dickinson and Company
- Baxter International, Inc.
- Terumo Corporation
- Smith Medical
- ICU Medical, Inc.
- Tandem Diabetes Care, Inc.
Strategies And Objectives Of Major Companies:
- In April 2021, Medtronic, one of the major leaders in medical technology and services, announced the launch of its extended infusion set in selected countries of Europe. This infusion set is designed to be worn for seven days, allowing diabetic patients to stay on intravenous infusion pump therapy with fewer insertions and interruptions.
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 intravenous infusion pump market is segmented on the basis of technology, accessories, type, application, end-users, and region:
Technology Outlook (Revenue, USD Billion; 2023-2032)
Accessories Outlook (Revenue, USD Billion; 2023-2032)
Type Outlook (Revenue, USD Billion; 2023-2032)
- Syringe Infusion Pumps
- Volumetric Infusion Pumps
- Patient Controlled Analgesia Infusion Pumps
Application Outlook (Revenue, USD Billion; 2023-2032)
- Parenteral Nutrition
- Analgesia/Pain Management
End Users Outlook (Revenue, USD Billion; 2023-2032)
- Home Healthcare
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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