Global Infusion Pump Market Size To Worth USD 27.92 Billion by 2032 | CAGR of 7.6%
The Global Infusion Pump Market Size was valued at USD 13.42 Billion in 2022 and the Worldwide Infusion Pump Market Size is expected to reach USD 27.92 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Tandem Diabetes Care, Inc., Smith Medical, Terumo Corporation, Becton, Dickinson & Company, Fresenius SE & Co. KGaA, F. Hoffmann-La Roche Ltd., B. Braun Holding GmbH & Co. KG, Baxter International, Inc., Medtronic, ICU Medical, Inc., and other key vendors.
New York, United States, Nov. 21, 2023 (GLOBE NEWSWIRE) — The Global Infusion Pump Market Size is To Grow from USD 13.42 Billion in 2022 to USD 27.92 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.
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An infusion pump is a medical device that delivers fluids, such as medications, nutrients, or blood products, directly into a patient’s bloodstream. It ensures precise and controlled administration, reducing the risk of human errors. These programmable devices are commonly used in hospitals, clinics, and home care settings for various treatments, including pain management, chemotherapy, and critical care interventions. With its reliability and safety features, the infusion pump plays a vital role in modern healthcare, providing healthcare professionals with a crucial tool to deliver essential fluids accurately to patients in need.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on “Global Infusion Pump Market Size, Share, and COVID-19 Impact Analysis, By Product (Accessories & Consumables and Devices), By Application (Chemotherapy/Oncology, Diabetes Management, Gastroenterology, Pain Management/ Analgesia, Pediatrics/ Neonatology, Hematology, and Others), By End-User (Hospitals, Home Care Settings, Ambulatory Care Settings, and Academic & Research Institutes), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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- In 2022, the insulin pump segment accounted for around 42.5% market share
On the basis of the product, the global infusion pump market is segmented into accessories & consumables and devices. The insulin pump segment dominated the infusion pump market for several reasons. The prevalence of diabetes is increasing worldwide, leading to a growing number of patients requiring insulin therapy. Insulin pumps offer a convenient and efficient method for delivering insulin, allowing for better glucose management and improved patient outcomes. The pumps can be programmed to provide precise dosages throughout the day, replicating the natural insulin release in the body. Moreover, advancements in insulin pump technology, such as integration with continuous glucose monitoring systems, have further boosted their popularity among diabetes patients, consolidating the insulin pump segment’s dominant position in the market.
- Oncology segment is expected to grow at the fastest CAGR of around 7.5% during the forecast period
Based on the application, the global infusion pump market is segmented into chemotherapy/oncology, diabetes management, gastroenterology, pain management/ analgesia, pediatrics/ neonatology, hematology, and others. The oncology segment is expected to grow at the fastest rate during the forecast period in the infusion pump market due to several compelling reasons. Cancer treatments, such as chemotherapy and immunotherapy, often require continuous and precise drug administration, which infusion pumps excel at providing. As the incidence of cancer cases continues to rise globally, the demand for infusion pumps in oncology settings is expected to increase significantly.
- The hospitals segment held the largest market revenue share around 38.2% in 2022.
Based on the end-user, the global infusion pump market is segmented into hospitals, home care settings, ambulatory care settings, and academic & research institutes. The hospitals segment held the largest market revenue share in the infusion pump market due to several key factors. Hospitals are major healthcare facilities that witness a high volume of patient admissions, surgeries, and critical care treatments. The demand for infusion pumps in hospitals is driven by the need for precise and continuous drug delivery to patients undergoing various medical procedures and therapies. Additionally, the rising prevalence of chronic diseases and an aging population further augment the demand for infusion pumps in hospital settings, solidifying the hospitals segment’s dominant position in generating substantial revenue within the market.
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Asia-Pacific is predicted to grow at a significant CAGR of around 7.9% over the projected period
Based on region, Asia-Pacific is expected to grow at a significant rate in the infusion pump market for various reasons. The region’s large and continuously growing population, coupled with an increasing burden of chronic diseases, drives the demand for advanced medical technologies, including infusion pumps. Additionally, rising healthcare expenditure, improving healthcare infrastructure, and growing awareness about the benefits of infusion therapy contribute to the market’s expansion.
North America holds the largest market share in the infusion pump market due to the adoption of modern medical technologies like infusion pumps. The prevalence of chronic diseases and the aging population contribute to a substantial demand for continuous and accurate drug delivery systems.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. the major players in the global infusion pump market include Tandem Diabetes Care, Inc., Smith Medical, Terumo Corporation, Becton, Dickinson & Company, Fresenius SE & Co. KGaA, F. Hoffmann-La Roche Ltd., B. Braun Holding GmbH & Co. KG, Baxter International, Inc., Medtronic, ICU Medical, Inc. and others.
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- In March 2022, Fresenius Kabi (Germany) has acquired US FDA clearance for the wireless Agilia Connect Infusion System, which combines the Agilia Volumetric Pump and the Agilia Syringe Pump with Vigilant Software Suite-Vigilant Master Med technology.
- In July 2022, Capillary Biomedical (US) has been bought by Tandem Diabetes Care (US). Tandem Diabetes Care’s product range in the infusion pump business area has grown as a result.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Global Infusion Pump Market based on the below-mentioned segments:
Infusion Pump Market, By Product
- Accessories & Consumables
Infusion Pump Market, By Application
- Diabetes Management
- Pain Management/ Analgesia
- Pediatrics/ Neonatology
Infusion Pump Market, By End-User
- Home Care Settings
- Ambulatory Care Settings
- Academic & Research Institutes
Infusion Pump Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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