Global infusion pump market

Infusion Pump Market Size, Share, Growth Analysis, By Product(Accessories And Consumables [Accessories and Consumables (Volumetric infusion pump dedicated disposables, Insulin pump dedicated disposables, Enteral infusion pump dedicated disposables, Syringe infusion pump dedicated disposables), By Setting(Hospitals, Home Care Settings, Ambulatory Care Settings, Academic and Research Institutes), By Application(Chemotherapy/Oncology, Diabetes Management, Gastroenterology, Analgesia/Pain Management), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35A2184 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 95 | Figures: 76

Infusion Pump Market Dynamics

Infusion Pump Market Drivers

Increasing Incidence of Chronic Disease 

  • The infusion pump market is highly influenced by the growing incidence of chronic diseases such as diabetes, cancer, and cardiovascular diseases. More and more patients require long-term care, and the devices become more crucial when there is the need for accuracy and reliability in drug delivery. The ability of infusion pumps to allow precise dosing and continuous infusions makes them indispensable in the management of complex treatment regimens. This trend is especially common in geriatric populations, which have many chronic conditions. The infusion pump industry is growing because healthcare providers are increasingly making use of advanced infusion technologies to increase safety, make procedures go faster, and advance patient care. 

Technological Innovation 

  • Infusion pump technology innovation is what drives the market. New developments in precision of drug delivery and safety for the patient include smart infusion pumps with dosage error-reduction devices and integrated electronic medical records. These pumps decrease the chance of problems caused by an incorrect dosage by being monitored in real-time with alarms. Further, the ambulatory and portable infusion pumps promote significantly more flexibility in patient care. These infusion pumps allow for treatment in various environments such as home care and, thus, the demand for these advanced devices expected to continue to rise since patient-centered care is gaining utmost importance to health care systems which will, in turn, promote the infusion pump market growth. 

Restraints 

High Charges and Reimbursement Problem 

  • One of the critical limiting factors of this infusion pump industry is that these devices and their maintenance are very costly. The high cost of advanced infusion pumps, particularly smart pumps, may be too expensive for smaller or less well-funded healthcare organizations to invest in. Other barriers to adoption include payment issues; not all insurance plans cover infusion pumps entirely, and this adds to the challenge of spreading costs for consumers and providers. This may impede full adoption rate realization, especially where budget constraints are more restrictive or health care resources are limited, and this may impact infusion pump market growth in the future.  

Regulatory Compliance and Approvals 

  • Such regulatory requirements about infusion pumps may lead to a queuing problem in the clearance process of new products. A manufacturer's process gets entangled in long and complicated procedures to get the obligatory certification, ensuring that products fulfill safety standards of several organizations, including the FDA and EMA. Such a long lead time for approval might also deter investment in the manufacture of new products as taking up of the latest technology is behind schedule and development costs become high. The producers are bound to shift rapidly under the changing legislations which would introduce complexity and uncertainty in their business. These issues could further limit the entry of new players into the market and decelerate the pace of innovation.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Infusion Pump Market size was valued at USD 16.8 billion in 2022 and is poised to grow from USD 18.01 billion in 2023 to USD 31.41 billion by 2031, growing at a CAGR of 8.2% during the forecast period (2024-2031).

The infusion pump industry is dominated by a good number of several significant players providing a wide variety of pump types in various application areas. Despite this being an extremely fragmented industry, companies such as Baxter, Medtronic, and Becton Dickinson can still hold market leadership within their product segment. The significant winning imperatives to be focused would include enlarging the product portfolio both organically and inorganically and strengthening the distribution networks globally, particularly in emerging countries such as China, Brazil, and India. Increased pressure on prices can help to force regional companies to bring their competition to this space. Other important players in this paper are B. Braun Melsungen AG and icumedical. 'Becton, Dickinson and Company (US) ', 'Baxter International Inc. (US) ', 'B. Braun Melsungen AG (Germany) ', 'Fresenius Kabi (Germany) ', 'Medtronic PLC (Ireland) ', 'Terumo Corporation (Japan) ', 'Nipro Corporation (Japan) ', 'Avanos Medical, Inc. (US) ', 'Insulet Corporation (US) ', 'Tandem Diabetes Care, Inc. (US) ', 'JMS Co., Ltd. (Japan) ', 'Roche Diagnostics (Switzerland) ', 'Moog, Inc. (US) ', 'Teleflex, Inc. (US) ', 'Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China) ', 'Ypsomed Holding AG (Switzerland) ', 'Micrel Medical Devices SA (Greece) ', 'Zyno Medical LLC (US) ', 'Infutronix (US) ', 'Epic Medical (US) ', 'Sooil Development Co., Ltd. (South Korea) ', 'Shenzhen Medrena Biotech Co., Ltd. (China) ', 'Codan Medizinische Gerate GmbH & Co. KG (Germany) ', 'Eitan Medical (Israel)'

The infusion pump market is highly influenced by the growing incidence of chronic diseases such as diabetes, cancer, and cardiovascular diseases. More and more patients require long-term care, and the devices become more crucial when there is the need for accuracy and reliability in drug delivery. The ability of infusion pumps to allow precise dosing and continuous infusions makes them indispensable in the management of complex treatment regimens. This trend is especially common in geriatric populations, which have many chronic conditions. The infusion pump industry is growing because healthcare providers are increasingly making use of advanced infusion technologies to increase safety, make procedures go faster, and advance patient care. 

Home care is deeply affecting the infusion pump market. Patients prefer home over hospitals because of convenience and lower treatment cost. This change brings along a requirement for portable, patient-friendly infusion devices that could be used by patients or caregivers. They are concentrating their production lines on infusion pumps that can be used at the patient's home to try and cut down on congestion in hospitals and related costs. Manufacturers are now focusing more on infusion pumps that are designed for home use to enhance access and patient self-management of chronic diseases. 

North America is a significant region in the infusion pump market due to several significant factors. Specialty infusion pumps are used highly in this region, especially for the control of chronic diseases, such as controlling diabetes and cancer. The demand is further necessitated by the increasingly aging population of North America, in which people spend most of their time requiring more intensive health care. The established health care sectors in the infusion pump market, focused on safety, make a distinction through advanced technologies, but sustained health care innovation expenditures are contributing to the growing U.S. market since they help ensure leadership in this crucial industry. 

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global infusion pump market

Report ID: SQMIG35A2184

$5,300
BUY NOW GET FREE SAMPLE