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Global infusion pumps market, based on the type was segmented as, ambulatory pumps, volumetric pumps, syringe pumps, and accessories. In 2017, the volumetric pumps segment held the largest share of the market, by type. The segment is also expected to witness growth at a significant rate during the forecast period, due to its benefits of administering large volume of dosage of medications or drugs to the patients.
The market for infusion pumps is expected to grow significantly due to factors such as, increasing incidence of chronic diseases, increasing number of surgical procedures performed and growing geriatric population. In addition, rising medical tourism in developing countries is anticipated to have a positive impact on the growth of the infusion pumps market in the coming years.
Some of the prominent players operating in infusion pumps market are BD, B. Braun Melsungen AG, Terumo Corporation, F. Hoffmann-La Roche Ltd., Medtronic, Baxter International, Inc., Smith Medical, Moog, Inc., ICU Medical, Inc., and Insulet Corporation. The market players are focused towards introducing new and innovative products in the market to sustain their position in the market. For instance, in December, 2018, Terumo Corporation announced that a biosimilar was launched in Europe. The biosimilar is used by company’s PLAJEX pre-fillable syringe. The hulio (biosimilar) is manufactured by the company. These product innovations and launches are expected to propel the growth of the infusion pumps market during the forecast period.
Market Insights
Increasing Incidence of Chronic Diseases
An infusion pump, a medical device, delivers fluids, like nutrients and medications, into a patient’s body in precise amounts. Infusion pumps are widely used in hospitals, nursing homes, and some types of infusion pumps can be used at home too. Infusion pumps are used to deliver medications – such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. Thus the rising prevalence of chronic diseases like cancer, diabetes, and others drives the market growth.
Diabetes is one of the largest global health emergencies of the 21st century. Each year more and more people live with this condition, which can result in life-changing complications. According to the International Diabetes Federation (IDF), in 2017, the number of people with diabetes in North America was approximately 46 million, which is expected to grow to 62 million in 2045. The increase in the disease prevalence is around 35% during the forecast period.
Also, according to the World Health Organization in 2018, cancer was the second leading cause of death across the globe and is responsible for an estimated 9.6 million deaths in 2018. Furthermore, the American Cancer Society estimated that in 2018, 1,735,350 new cancer cases were diagnosed 2018.
Infusion pumps are also used to treat heart failure that helps in relieving and controlling the symptoms. According to Emory Healthcare, in 2018, around 5 million people in America suffer from congestive heart failure (CHF).
Thus, the increasing incidences of chronic diseases pose several opportunities for the infusion pumps market to grow during the forecast period.
The report segments the global infusion pumps market as follows:
Global Infusion Pumps Market – By Type
Patient-Controlled Analgesia (PCA) Pumps
Global Infusion Pumps Market – By Application
Global Infusion Pumps Market – By End User
Global Infusion pumps Market – By Geography
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