Global Infusion Pumps Market: Snapshot
Infusion pumps are mainly used in
hospitals and other healthcare service providers to deliver fluids and
medication in to patient’s body in controlled manner. These infusion
pumps improves patient care with control on antibiotics, anesthetics,
insulin, and others. Infusion systems are devices which are used for
administrating the drugs and fluids like saline, dextrose, and plasma
solutions. Growing demand for volume infusion are required for hydration
therapy and parenteral nutrition is fuelling growth of the global
infusion pumps market. However, high cost of implantable devices are
hampering growth of the global infusion pumps market. Nevertheless,
tapping the unmet need are expected to create lucrative opportunities
for key players to collect higher revenue.
According to the report by TMR, the
global infusion pumps market was valued at around US$ 7,036 mn in 2017
and is anticipated to expand with a CAGR of around 5.4% from 2018 to
2026 to attain value of US$ 10,000.0 mn by the end of 2026.
High incidences of diabetes to be Beneficial for Growth
On the basis of product, the global
infusion pumps market is segmented into insulin pumps, PCA pumps, and
enteral pumps. Of these, insulin pumps segment accounted for the leading
share in the global infusion pumps market and is anticipated to
continue over forecast period followed by PCA pumps. This growth is
attributable to the increase in prevalence of diabetes and development
of advanced insulin pump.
On the basis of end user, the global
infusion pumps market is segmented into hospitals, ambulatory care
settings, and home care settings. Of these, the hospitals segment
accounted for a large share of the market in 2017 and is likely to
continue its dominance during the forecast period. This growth is
attributable to higher demand for infusion pumps from hospitals.
Based on the application, the global
infusion pumps market is segmented into diabetes management, pain
management, and chemotherapy. Of these, diabetes management segment
dominated the global infusion pumps market in 2017 and is expected to
remain dominant over the forecast period. This growth is attributable to
growing prevalence of diabetes globally.
Growing Favorable Reimbursement Policies to Bolster Growth in Asia Pacific and Europe
On the basis of region, the global
infusion pumps market is segmented into North America, Europe, Asia
Pacific, Latin America, and Rest of the World. Of these, North America
is dominating the global market for infusion pumps owing to large number
of people using insulin for type-1 and type-2 diabetes patients.
However, the markets in the Europe and Asia Pacific are expected to
expand with expand with CAGR owing to growing awareness and initiatives
from local governments in order to increase the awareness levels about
benefits of the infusion pumps and improving production of infusive
pumps market. Additionally, growing favorable reimbursement policies in
the developing regions are creating growth opportunities in the global
market.
Key players operating in the infusion
pumps market include F. Hoffmann-La Roche Ltd., ICU MEDICAL, INC.,
Tandem Diabetes Care, Inc., Smiths Medical, and Medtronic plc. These
prominent players are adopting strategies to improve their products and
expand their business globally and to gain market shares.
The continual growth of the infusion pump market can be attributed to several factors which have led to wide scale adoption of these devices, which are extensively used in treatment of chronic diseases such as diabetes and cancer. Moreover, the growing demand for consumables and devices across the globe is anticipated to further contribute to the substantial growth of the global infusion pump market between 2019 and 2030.
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