Market Research Future (MRFR) has published a cooked research report on the “Global Infusion Pump Market” that contains information from 2018 to 2032. The Infusion Pump market is estimated to register a CAGR of 8.20% during the forecast period of 2023 to 2032.
The global Infusion Pump market is accounted to register a CAGR of 8.20% during the forecast period and is estimated to reach USD 21.2 Billion by 2032.
The infusion pump market refers to the sector involved in the production and distribution of medical devices used to deliver fluids, such as medications, nutrients, or fluids, into a patient's body in a controlled and regulated manner. These pumps are utilized in various healthcare settings, including hospitals, clinics, and home care, to ensure accurate and precise administration of fluids. The market caters to the increasing demand for reliable and efficient drug delivery systems.
MRFR recognizes the following companies as the key players in the global Infusion Pump market— 3M, BRAUN MELSUNGEN AG, Baxter, Becton Dickinson and Company, Fresenius Kabi AG, ICU Medical Inc, Smiths Medical, and Terumo Medical Corporation.
The global Infusion Pump market has been segmented based on Type, Application and End User.
On the basis of Type, the market is segmented into Volumetric Pumps and Syringe pumps. In 2020, the volumetric pump market had the lion's share, accounting for 65–67% of the total revenue generated by infusion pumps.
Based on Application, the global Infusion Pump market has been segmented into chemotherapy, diabetes, gastrointestinal diseases, and pediatrics. The paediatrics segment dominated the market in 2020 and is anticipated to develop at a quicker rate between 2020 and 2027. With the tremendous improvements in paediatric medicine and the rising birth rate, there is a greater demand for high-quality paediatric care.
Based on End User, the global Infusion Pump market has been segmented into Hospitals, Ambulatory Surgical Centers, and Homecare. In 2020, hospitals had the largest segment share. The market is anticipated to expand as a result of hospitals' substantial patient populations, their ability to purchase pricey infusion devices, and their availability of qualified personnel who can run infusion pumps.
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The global Infusion Pump market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Infusion Pump market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Infusion Pump market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Infusion Pump market comprises of Middle East, Africa, and Latin America.
The Asia-Pacific Infusion Pump Market dominated this market in 2022. It is anticipated to reach USD 1.8 billion in 2020 and to grow at a considerable CAGR over the study period. A significant prevalence of chronic diseases like cancer, diabetes, and cardiovascular disorders exists in Asian countries due to their dense population. Because of their reputation for providing quality healthcare and economical surgery, these countries are popular destinations for medical tourism.
Additionally, the second-largest market share for Infusion Pump is held by North America. The expansion of the intravenous pump sector in this region, as well as rising surgical procedures, well-developed and expanding R&D, and rising adoption of cutting-edge infusion pump technology, were all supported by the rising prevalence of chronic diseases.
Infusion Pump sales in Europe will hold the third-largest market share in 2020. Thanks to developments in infusion technology, infusion devices may now connect with the electronic medical record via interoperability software. Interoperability software makes it feasible to communicate and exchange data with different information technology systems, software applications, and networks in different contexts.
Additionally, the Infusion Pump market in Germany had the biggest market share and was expanding at the quickest rate on the continent of Europe.
Key Findings of the Study