Market Research Future (MRFR) has announced a new release on the Global Infusion Pumps Market. The report delivers an accurate picture of the infusion pumps market’s present statistics and growth potential over the forecast period (2018-2023). The report predicts the Global Infusion Pumps Market to reach a value of USD 9.71 billion by 2023, exhibiting a robust growth rate of 5% over the 2017-2023 forecast period.
The Global Infusion Pumps Market is driven primarily by the growing prevalence of chronic diseases and fatal diseases that require constant monitoring, such as cancer. Infusion pumps are primarily used to achieve precise and regular delivery of the accurate amounts of medication for chronic patients. This includes substances such as insulin for diabetes patients and chemotherapy drugs for cancer patients. The increasing prevalence of such conditions is the major driver propelling the global infusion pumps market over the forecast period. The increasing demand for infusion pumps in military medical units is also a major driver for the infusion pumps market.
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
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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 – 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 – Regional Analysis
Geographically, the Global Infusion Pumps Market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
North America is likely to lead the global infusion pumps market over the forecast period due to the widespread prevalence of cancer and diabetes and the easy availability of advanced treatment systems such as infusion pumps. The advanced healthcare sector in North American countries such as the U.S. and Canada are likely to be a major driver for the infusion pumps market in the region over the forecast period. Europe is likely to follow North America in the global infusion pumps market, with both regional markets likely to reach values of more than USD 3 billion by 2023.
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The Asia Pacific market for infusion pumps is expected to exhibit the fastest growth over the forecast period, at a robust 5.4% CAGR. The growing prevalence of chronic conditions in APAC as well as the steady development of the healthcare sector in developing countries such as China, India, Korea, etc. are likely to drive the infusion pumps market in APAC over the forecast period. The Middle East and Africa market’s share in the global infusion pumps market is likely to remain little more than nominal over the forecast period, though steady growth is expected in the healthcare sector in the region.
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