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| Global Infusion Pumps Market Size |
The infusion pumps market allows for controlled delivery of fluids, such as nutrients, medications, toxins, chemotherapy agents, etc. in measured quantities into the body via a catheter or IV. Infusion Pumps are primarily used in patient settings such as hospitals, long term care facilities and home healthcare. They offer key advantages such as accurate and controlled dosage, flexibility and ease of use. With rising incidences of chronic diseases and growing geriatric population, demand for infusion pumps is accelerating globally.
The Global Infusion Pumps Market is estimated to be valued at US$ 49182.65 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2030.
Rising prevalence of chronic diseases, such as cancer,
diabetes and cardiovascular diseases has boosted the need for infusion therapy.
Growing preference for ambulatory/home healthcare is also supporting market
growth. However, product recalls and patients safety issues pose challenges.
Key Takeaways
Key players operating in the Infusion Pumps are Consolidated Metco, Inc., BUVO
Castings, Bodine Aluminum, Shandong Xinanrui Casting, RusAL, Walbro, RYOBI
Aluminium Casting (UK) Ltd., Dynacast, Rio Tinto, Alcoa Corporation. The
leading players are focusing on developing innovative smart pumps to strengthen
their product portfolios.
The growing geriatric population suffering from multiple chronic conditions is
the key growth driver for infusion pumps. As per WHO statistics, worldwide
geriatric population is projected to reach 2 billion by 2050. Additionally,
rising prevalence of cancer and increasing adoption of targeted therapy is
anticipated to propel demand.
Technological advancements are expanding application areas of infusion pumps.
Smart pump platforms integrated with clinical decision support software are
being utilized to prevent medication errors. Ambulatory/portable pumps with
rechargeable batteries allow patients to remain mobile during therapy.
Market Trends
1) Growing adoption of Specialty Pumps: Specialty pumps tailored for
pediatric/neonatal, enteral and pain management applications are gaining
traction. Features such as adjustable flow rates, customizable library and
bolus capabilities are encouraging specialty pump uptake.
2) Integration with Clinical Information Systems: Major players are focusing on
developing smart pumps integrated with electronic medical records and hospital
inventory systems. This allows clinicians to order drugs from the pump
interface and transmit important therapy data for review.
Market Opportunities
1) Emerging Markets: Global
Infusion Pumps Market Size in Asia Pacific and Middle East regions
present high growth potential owing to rising healthcare spends, medical
tourism and growing chronic disease burden.
2) Home Healthcare Applications: Technological advances are making infusion
devices compact, rechargeable and simple to use at home settings without much
training. This greatly expands market opportunities in home healthcare segment.
Impact of COVID-19 on Infusion Pumps Market
The COVID-19 pandemic has significantly impacted the growth of the global
infusion pumps market. During the initial outbreak, the supply chain
disruptions and reduced production largely affected the market. However, with
the rising number of COVID-19 cases, the demand for infusion pumps saw a sudden
surge as they are playing a critical role in the treatment of infected
patients. Various pumps are being used for administering antibiotics,
nutrition, analgesics, chemotherapy drugs and other important medications to
coronavirus patients. The sales of syringe pumps, ambulatory pumps and
patient-controlled analgesia pumps rose sharply due to the pandemic.
In the pre-COVID era, the market was growing steadily at a CAGR of around 7%
driven by the increasing prevalence of chronic diseases, rapid growth in the
geriatric population, rising number of surgical procedures and technological
advancements. However, the pandemic has accelerated the market growth in the
post-COVID period. Many countries have increased their healthcare spending to
strengthen their medical infrastructure and stock up on important medical
equipments including infusion pumps. With most industry experts predicting
future waves of the virus, the demand for infusion devices is expected to
remain high in the coming years. Manufacturers will need to ramp up their
production capacity and focus on developing specialized infusion systems to
meet the treatment requirements during such health emergencies.
North America accounts for the largest share of the global infusion pumps
market in terms of value. This is attributed to the presence of advanced
healthcare facilities, rising healthcare spending, growing geriatric population
suffering from chronic conditions in the US and Canada. However, Asia Pacific
is considered as the fastest growing regional market driven by factors such as
increasing medical tourism, rising affluence, growing awareness about
therapeutic clinical benefits of infusion devices and improving healthcare
infrastructure in emerging countries like China and India.
Geographical Regions with highest market concentration
The North American region holds the highest market share in terms of value for
infusion pumps. This can be attributed to factors like presence of major
industry players, advanced healthcare infrastructure, heavy spending on
healthcare especially in US and growing prevalence of chronic diseases. The
large patient pool suffering from various ailments and rapid adoption of new
technologies provide lucrative opportunities for market players in this region.
Fastest growing region for Infusion Pumps Market
Asia Pacific represents the fastest growing regional market for infusion pumps
globally. This growth can be credited to rapidly developing healthcare sector,
rising medical tourism, growing affluence, increasing healthcare expenditure,
large geriatric population base and expanding customer base for home healthcare
solutions in highly populated countries like China and India. Additionally,
favorable government policies and initiatives supporting healthcare
modernization are driving the market growth in Asia Pacific region.
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