Market Research Future has released its report on the Global Infusion Pump Market which reveals that the global market is anticipated to witness a moderate CAGR of 5% during the forecast period of 2017 to 2023. The widespread and necessary use of infusion pumps across the globe for drug delivery and the delivery of other necessary fluids are expected to lead the market to an estimated evaluation of USD 9.71 Bn by the end of the review period.
Infusion Pumps are witnessing increased demands in part due to the growing patient population, and the presence a significant geriatric population. The growing prevalence of chronic and fatal diseases among this massive patient population is key in the increased demand for infusion pumps.
There has been an increased demand for Infusion Pumps in military medical units in order to offer better health facilities to soldiers injured in combat. Moreover, technological advances made by market leaders have led to innovative wireless infusion pumps. Challenged faced by the market include patient safety and the risk of improper infusion. However, with market leaders working toward the development of more reliable infusion pump systems, these challenges are expected to be mitigated to some extent.
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Global Infusion Pump Market – Key Finding
- The Infusion Pump Market and is expected to reach $9.71 billion by 2023.
- Volumetric holds the largest share of 37.1% of the market.
- North America holds the largest market share of Infusion pump market and is anticipated to reach $3.49 billion by the end of forecast period.
- Globally, Asia-Pacific the fastest growing region and expected to grow at the rate of 5.4% during the forecast period.
Global Infusion Pump Market – Segments
The global infusion pumps market has been segmented on the basis of type, application, and end use.
On the basis of type, the global infusion pumps market has been segmented into volumetric pumps, syringe pumps, ambulatory pumps, and others. Volumetric pumps dominated the global infusion pumps market in 2016 and are likely to account for the largest market share over the forecast period.
By application, the infusion pumps market is segmented into chemotherapy, diabetes, gastrointestinal diseases, pediatrics, and others. Chemotherapy accounted for the largest share in the global infusion pumps market in 2016 and is likely to remain a major contributor over the forecast period due to the growing threat of cancer around the world.
By end use, the global infusion pumps market has been segmented into hospitals, ambulatory surgical centers, home care, and others. Hospitals dominated the global infusion pumps market in 2016 and is likely to remain the leading contributor over the forecast period. The home care segment could also emerge as a key player in the global infusion pumps market over the forecast period due to the growing popularity of home care for a wide variety of diseases.
Global Infusion Pump Market – Dominant Players
Some of the key players in this market are:
- 3M
- B. BRAUN MELSUNGEN AG
- Baxter
- Becton, Dickinson and Company
- Fresenius Kabi AG
- ICU Medical, Inc
- Smith’s Medical
- Terumo Medical Corporation
Global Infusion Pump Market – Regional Analysis
Globally North America is the largest market for Infusion Pump and is expected to command the largest market share due to advanced technologies are continuously on rise in these countries. North America is expected to reach $3.49 billion by the end of 2023. Europe accounts for the second largest market and is expected to reach nearly $3.11 billion, whereas
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Asia Pacific with lots of opportunity and continuously growing economies, is expected to be the fastest growing segment with the CAGR of 5.4% during 2017-2023. This rapid growth is majorly due to recent developments in healthcare and improving economies and disposable income per individual. Middle East and Africa with less economic developments and extremely low-income accounts for least market share in 2016 but is expected to grow with better infusion treatment in the countries.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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