Global Drug Infusion Systems Market Size to Reach USD 24.10 Billion in 2032 | Emergen Research
Rising prevalence of diabetes globally and increasing demand for drug infusion systems to control hemodynamics are some key factors driving market revenue growth
Vancouver, Oct. 23, 2023 (GLOBE NEWSWIRE) — The global drug infusion systems market size reached USD 10.56 Billion in 2020 and is expected to register a CAGR of 7.2% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of diabetes globally is expected to drive global drug infusion systems market revenue growth to a significant extent during the forecast period. Increasing demand for drug infusion systems to control hemodynamics is expected to further augment market growth over the forecast period. Rising demand for drug infusion systems to reduce chances of medication errors, especially on pediatric patients, is expected to boost global drug infusion systems market revenue growth over the forecast period.
However, high cost of drug infusion systems is expected to hamper global drug infusion systems market growth to some extent during the forecast period.
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Increasing demand for safe and precise drug delivery systems is a key driver expected to drive global drug infusion systems market revenue growth over the forecast period. Increasing application of drug infusion systems for chronic pain management is expected to further propel revenue growth of the global drug infusion systems market in the near future. Increasing integration of advanced equipment and up-gradation of drug infusion systems, such as flow monitoring and microï¬‚ow regulators, is expected to boost global drug infusion systems market revenue growth going ahead.
Scope of Research
|Market size in 2020||USD 10.56 Billion|
|Revenue forecast in 2032||USD 24.10 Billion|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Control Systems, Infusion Type, Administration Route, Application, End-Use, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA|
|Key companies profiled||Medtronic plc, Arcomed Ag, Baxter International Inc., Insulet Corporation, Smiths Group plc, Becton, Dickinson and Company, Halyard Health, Inc., ICU Medical, Inc., Flowonix Medical Inc., Zyno Medical LLC|
|Customization scope||10 hours of free customization and expert consultation|
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Major Companies and Competitive Landscape
The global drug infusion systems market is fairly fragmented, with a number of large and medium-sized players accounting for majority market revenue. Key players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, adopting more advanced technologies in drug infusion systems solutions, developing, testing, and introducing new and more efficient systems in the market. Some prominent players operating in the global drug infusion systems market are:
- Medtronic plc
- Arcomed Ag
- Baxter International Inc.
- Insulet Corporation
- Smiths Group plc
- Becton, Dickinson and Company
- Halyard Health, Inc.
- ICU Medical, Inc.
- Flowonix Medical Inc.
- Zyno Medical LLC
In May 2020, Baxter International Inc. Baxter International Inc., which is a global pioneer in advanced drug delivery technologies, announced that the Evo IQ Infusion System has received CE marking and regulatory approval from Australia’s Therapeutic Goods Administration (TGA). The introduction of the Evo IQ Infusion System allows for a broader range of infusion therapy solutions for various patient groups.
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Some Key Highlights From the Report
- Increasing usage of closed-loop systems to automate drug infusion to control hemodynamics is driving revenue growth of the closed-loop system segment, which is expected to register a significantly rapid CAGR over the forecast period.
- The total parenteral nutrition segment is expected to register significant revenue growth over the forecast period due to increasing use of total parenteral nutrition type of infusion in pediatric patients for feeding and delivering other fluid nutrients through the vein.
- The enteral segment is expected to register significant revenue growth over the forecast period due to rising utilization of the enteral route for pediatrics and nutrition applications.
- The hospital segment is expected to register significant revenue growth over the forecast period due to increasing application of drug infusion systems in hospitals for the controlled delivery of drugs and ﬂuids.
- Asia Pacific is expected to register fastest revenue growth rate during the forecast period due to rising investment by governments for adoption of technologically advanced medical equipment in the healthcare industry in countries in the region.
- In November 2019, ICU Medical, Inc. announced the acquisition of Pursuit Vascular, Inc. for USD 75.0 million, with an additional earnout payment reportedly coming in 2021. Pursuit Vascular’s ClearGuard HD is a natural extension to ICU Medical’s needle-free IV connector and other infection control technologies, leading to best-of-breed solutions.
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Emergen Research has segmented the global drug infusion systems market on the basis of control systems, infusion type, administration route, application, end-use, and region:
- Control Systems Outlook (Revenue, USD Billion; 2019–2032)
- Open Loop System
- Closed Loop System
- Infusion Type Outlook (Revenue, USD Billion; 2019–2032)
- Continuous Infusion
- Intermittent Infusion
- Patient Controlled Infusion
- Total Parenteral Nutrition
- Administration Route Outlook (Revenue, USD Billion; 2019–2032)
- Application Outlook (Revenue, USD Billion; 2019–2032)
- End-Use Outlook (Revenue, USD Billion; 2019–2032)
- Diagnostic Centers
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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