Medical Devices Infusion pump Market is estimated to grow at 6.28% CAGR of during the forecasting period 2...

Infusion pump Market is estimated to grow at 6.28% CAGR of during the forecasting period 2021-2027

An infusion pump is a medical pump which delivers fluids such as antibiotics, hormones, pain relievers and chemotherapy drugs. Nutrients and drugs are monitored and controlled with the help of this pump. It offers an accurate and regulated flow and amount in a required set of times. The advanced infusion pumps has been developed with high precision, great sensitivity to temperature and pressure and an extensive range of applications in food chemical industries and laboratories making sure of safety issues. The pump is utilized in intravenous drug delivery in long-term care units, hospitals, clinics, nursing homes and home settings. Infusion pumps find application in analgesia, neonatology, chemotherapy, hematology, gastroenterology, and diabetes treatment and management. However, the increasing replacement of infusion pumps such as a commodity and lack of wireless connectivity in the hospital are restraining the growth of the market. 

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Key Driving Factors: Rising prevalence of cancer and diabetes

The surging prevalence of cancer among patients will enhance the growth of the infusion pumps market during the forecast period. As per the World Health Organization (WHO), cancer was considered to be the second most vital cause of death across the world and is responsible for about 9.6 million deaths. Cancer patients need chemotherapy which is to be given to the patients frequently which can be obtained by using the infusion pumps. Additionally, the awareness about the benefits of infusion pumps such as the capability of delivering fluids in small dosage and at precise planned rates will foster the infusion pumps market revenue. Furthermore, the increasing cases of diabetes will further boost the demand for infusion pumps, thereby, will aid in healthy growth of the market. Moreover, the infusion pumps are mostly used in the management of type 1 diabetes.

Major players in the Infusion Pump Market includes B. Braun Melsungen AG, Medtronic plc, JMS Co., Ltd., Becton, Dickinson and Company, NIPRO Corporation, Terumo Corporation, Micrel Medical Devices SA, Avanos Medical, Inc., Moog Inc., Baxter International Inc., Teleflex, Inc., Tandem Diabetes Care, Inc., Insulet Corporation, Roche Diagnostics, Zyno Medical, Mindray Medical International Limited, and Ypsomed Holding AG.

Opportunities: Rising deployment of ambulatory infusion pumps

Ambulatory infusion pumps have authenticated to be highly significant in ensuring targeted drug and nutrient conveyance among patients. Ambulatory infusion pumps work on batteries which moderately and gradually convey medicines such as antibiotics or chemotherapy drugs into the body. These pumps are mostly famous since they do not disturb daily routine of patients. As per the increasing popularity of ambulatory infusion pumps various vendors are focusing on increasing ambulatory infusion pumps production and manufacturing. Thus, it is providing lucrative opportunities for the market.

By End Users:

The end users include hospitals, home care settings, ambulatory care settings, and academic and research institutes. The home care settings segment is expected to witness the highest growth rate in the infusion pumps market in the forecast period. Rising conscious and preference of ambulatory infusion pumps such as disposable pumps at home care settings to decrease hospital stays, is catalyzing the growth of the infusion pumps market for home care settings.

By Product

·    Accessories & Consumables

o  Dedicated Accessories & Consumables

§ Volumetric infusion pumps

§ Insulin pumps

§ Enteral infusion pumps

§ Syringe infusion pumps

§ Ambulatory infusion pumps

§ PCA pumps

§ Implantable infusion pumps

o  Non-dedicated Accessories & Consumables

§ Infusion catheters

§ IV/administration sets

§ Needleless connectors

§ Cannulas

§ Tubing & extension sets

§ Valves

§ Other non-dedicated accessories & consumables

·        Devices

By Application 

·        Chemotherapy/Oncology

·        Diabetes

·        Gastroenterology

·        Analgesia/Pain management

·        Pediatrics/Neonatology

·        Hematology

·        Other Applications

By End User 

·        Hospitals

·        Home care settings

·        Ambulatory care settings

·        Academic and Research Institutes 

By Region 

·        North America

·        Europe

·        Asia Pacific

·        Rest of the World

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Published Date : April-2021