The global infusion pump market has been evaluated as steadily growing market and expected that the market will reach high growth figures. There has been a tremendous growth in the adoption rate of the infusion system in the delivery of medication and other necessary fluids into the body. The main purpose of the infusion pump is to control the flow of the fluid while being delivered into the body of the patient. Infusion pumps are capable of delivering fluids in large or small amounts and at different flow rates. These are used to deliver nutritional fluids such as minerals, salts, saline solution, and medicinal fluids such as insulin, other hormones, chemotherapy drugs, antibiotics, and pain relievers. The increasing use of infusion pumps is driving the growth of the market. Additionally there are some factors such as rising prevalence of chronic and fatal diseases, high demand of the infusion systems in the military medical units, technological advancements in the infusion pumps from the leading market players are believed to boost the infusion pump market. Infusion Pump Market Growth is significant during forecast period.
The infusion pump market can touch USD 18.30 Billion by the end of 2027, confirms Market Research Future (MRFR). The worldwide market could secure 8.2% CAGR between 2020 and 2027.
On the other hand, Patient safety is one of the major concern in the infusion therapy. As the process involves direct contact with the blood and the body fluids, there is a high risk of infection that can be caused by number of reasons. Due to lack of proper safety precautions during the infusion, use of the non-sterilized or used needles and other disposables, the chances of infection may increase. Miss-management in these procedures can cause severe consequences and it poses severe threat for the patients. Furthermore, unmet medical needs in the low income countries may affect the infusion pump market. As the economic condition of such countries is very poor, the government is not able to provide the basic medical needs for the people. Lack of proper healthcare infrastructure leads to the death of people because of not getting the proper treatment in time. All these factors can hamper the growth of the infusion pump market. infusion pump companies will face certain challenges during the forecast period 2020 to 2027.
Global Infusion System Market Players:
The major participants of this market are 3M, B. BRAUN MELSUNGEN AG, Baxter, Becton, Dickinson and Company, Fresenius Kabi AG, ICU Medical, Inc, Smiths Medical, and Terumo Medical Corporation.
Regional Analysis
Depending on geographic region, infusion pump market is segmented into four key regions: North America, Europe, Asia Pacific, and Middle East Africa. Globally North America is the largest market for infusion pump. The North America market for infusion pump is expected to reach at USD 2.42 billion by the end of the forecasted period. Europe is the second-largest market for infusion pump which is expected to grow at a CAGR of 5.2%. Asia pacific region is expected to be fastest growing region in infusion pump market. Middle East Africa region is projected to have a limited growth.
Segmentation:
Infusion pump market has been segmented on the basis of pump type which comprises of volumetric pump, syringe pump, ambulatory pump others. Volumetric pump accounted for the largest market share of the total market in 2016. On the basis of application, market is segmented into Chemotherapy, diabetes, gastrointestinal diseases, pediatrics, and others. Chemotherapy segment accounted for the largest market share of the total market in 2016. On the basis of end user, market is segmented into hospitals, ambulatory surgical centers, homecare, and others. Hospitals dominated the global market with the largest market share in 2016.
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