Infusion Therapy Market to Eclipse US$ 78.9 Million by 2031, Steered by a Strong CAGR of 6.7%| Transparency Market Research Inc.
The global market is anticipated to see growth from 2021 to 2031 as chronic diseases including cancer, neurological disorders, and gastrointestinal disorders become more prevalent
Wilmington, Delaware, United States, Aug. 25, 2023 (GLOBE NEWSWIRE) — In 2021, the worldwide infusion therapy market was valued at approximately US$ 41.7 billion. This valuation is projected to experience a consistent growth trajectory, with an expected CAGR of 6.7% from 2022 through 2031. By the year 2031, the infusion therapy market is poised to achieve an impressive market worth of US$ 78.9 billion.
The growth of the market is being driven by an increase in hospital-acquired infections (HAIs), which are brought on by contact with contaminated equipment, bedding, and air droplets across facilities. There is a growing need for home infusion treatment to provide the best care and lessen the risk of infection. Another element driving the market is the creation of inexpensive, user-friendly home infusion kits.
Large volume pumps as well as small volume pumps are the two primary kinds of infusion pumps. While tiny pumps are used to distribute hormones and drugs, large volume pumps are utilized for delivering nutrition. In the context of chemotherapy infusion, a pump that regulates the pace and volume of infusion introduces the drugs (from a list of around 100 agents) used for treating cancer.
Chemotherapy drugs are administered via a vein in the patient’s hand or arm. They can also be injected under the skin or infused through a particular port. These drugs keep circulating in the body and combat the illness. The use of sophisticated infusion pumps that may reduce mistakes, like the IP-200 infusion system, is anticipated to drive market expansion.
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|Market Revenue||US$ 41.7 Bn|
|Estimated Value||More than US$ 78.9 Bn|
|Growth Rate – CAGR||6.7%|
|No. of Pages||233 Pages|
|Market Segmentation||Product, Indication, Therapy, End-user|
|Regions Covered||North America,Europe,Asia Pacific,Latin America,Middle East & Africa|
|Companies Covered||B. Braun Melsungen AG,Medtronic plc,Becton, Dickinson and Company,ICU medical (Smiths Medical),Baxter International, Inc.,Polymedicure,BIO-MED,Terumo Medical Corporation,MEDIPRIM GmbH,Fresenius Kabi,Cardinal Health|
Key Findings of the Market Report
- The accessories sector led the global industry in 2021 in terms of products.
- According to indication, the global market for infusion treatment in 2021 was led by the cancer sector.
- The antibiotic/antiviral sector led the worldwide market in 2021 in terms of treatment.
- In 2021, the hospitals end-user sector dominated the world market.
- Based on region, the market for infusion treatment in North America was thought to be one of the most profitable.
Market Trends for Infusion Therapy
- In 2021, the hospitals end-user sector dominated the global market. The same trend is likely to exist during the forecast period as well. There has been an increase in instances due to the discovery of new coronavirus strains in various regions of the world. The quantity of hospital admissions has grown as a result.
- For critical care, many patients—especially the elderly as well as those with serious lung infections—are put on ventilators. Such individuals need continuous intravenous nourishment to maintain appropriate nutrition.
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Global Infusion Therapy Regional Market Outlook
Various reasons are propelling the growth of the infusion therapy market in different regions. These are:
- In 2021, North America held the majority of the global market share, mostly due to a surge in pharmaceuticals and medicines used in infusion treatment to treat chronic and rare disorders.
- The growth in the number of elderly people, a high incidence of chronic diseases like heart disease, cancer, and diabetes, and the rapid rate of technology development in the healthcare industry all contribute to the region’s worldwide domination.
- In recent years, there has been a surge in investment in the North American healthcare business. Market expansion in the area has been fueled by an improvement in quality of life brought on by economic development.
- The market in Asia Pacific is anticipated to expand rapidly over the projected period due to the quick adoption of novel innovations in the field of infusion treatment and the growth in the frequency of chronic illnesses.
Global Infusion Therapy Market: Key Players
- B. Braun Melsungen AG
- Medtronic plc
- Becton, Dickinson and Company
- ICU medical (Smiths Medical)
- Baxter International, Inc.
- Terumo Medical Corporation
- MEDIPRIM GmbH
- Fresenius Kabi
- Cardinal Health
Some developments by the key players in the global market for Infusion Therapy are:
- B. Braun, one of the top providers of infusion treatment and pain management solutions and a leader in medical technology, gained FDA permission for its Daytona Beach pharmaceutical manufacturing facility in 2022.
- The business has pledged to invest more than $1 billion in the United States, including the new Daytona Beach plant, to reduce IV fluid shortages by boosting supply and production capability. The company currently has strategically located production facilities on both coasts owing to its current IV solutions facility in Irvine, California.
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Global Infusion Therapy Market Segmentation
- Infusion Pumps
- Ambulatory Infusion Pumps
- Stationary Infusion Pumps
- Syringe Infusion Pumps
- Disposable Pumps
- Large Volume Pumps
- Elastomeric Pumps
- Infusion Set
- Gastrointestinal Diseases/Disorders
- Congestive Heart Failure
- Rheumatoid Arthritis
- Immune Deficiencies
- Blood Component Stimulating Factor
- Pain Management
- Ambulatory Surgical Centers
- Homecare Settings
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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