ID: MRFR/MED/0980-CR | February 2021 | Region: Global | 125 pages
Infusion Pump Market share is anticipated to accomplish USD 9.71 Billion with the support of a 5% CAGR over the forecast period ending in 2023. Intravenous infusion pumps are exploited to direct medications, nutritional fluids, and hormones into the circulatory system via the veins in exact amounts. Intravenous infusion pumps are deployed in clinical settings such as nursing homes, hospitals, and homes. Their use in dispensing critical fluids that comprise high-risk medications is estimated to promote the infusion pump market.
The repositioning of infusion pumps farther from the patient is one-way nurses respond to patient care and medicine dispensation in the current pandemic. The need for protecting frontline workers due to the widespread lack of PPE is estimated to encourage the infusion pump market. The pandemic has led several nurses to resort to placing infusion pumps outside the patient's room with the assistance of an extra-long extension tubing so that they can manage medications from several feet away. While not ideal, this trend is being observed in several setups, leading to innovations in improving infusion pump efficacy. The hospital shortage of ventilators, personal protective equipment, and infusion pumps critical for delivering medications and fluids to the rising number of hospitalized COVID-19 patients is vital in the market. This has led to the FDA's control seeking to boost tech like remote monitoring of infusion pumps so suppliers and COVID-19 patients can maintain safe distances from each other. Extension sets enable hospitals to run that tubing under doors and occasionally through crude holes in walls.
Increased Use Of Infusion Pumps For Drug Delivery
The surge in drug delivery intravenously in liquid form has risen as patients in critical condition cannot take their medications in solid forms.
Rising Prevalence Of Fatal Diseases
The escalating incidence of chronic illnesses and the fatality rates associated with these ailments are projected to transform the global market.
High Demand For The Infusion Systems In The Military Medical Units
The surging application in medical units in several military units is projected to add to the market's overall development.
Technological Advancements From The Leading Market Players
The enhancement in technology is a pivotal factor enhancing the infusion pump market share's progress in the future.
Patient Safety Concerns
The cases related to incorrect infusion techniques are projected to alter the development that can be expected from the market.
Unmet Medical Needs In The Low-Income Countries
In developing countries, the dismal healthcare infrastructure is assessed to enhance the market for infusion pumps in the forthcoming period.
Growing Geriatric Population Presents Significant Growth
The rise in the elderly population is a significant contributor to expanding the infusion pump manufacturer in the impending period as they currently need the infusion pump devices more than ever in-home settings due to the COVID-19 restrictions that are currently in force in several countries.
The volumetric pump segment is likely to account for the principal market portion in the forecast period.
The chemotherapy segment reported for the principal infusion market share of the overall market in the impending period.
The hospital segment governed the infusion pump market with the chief market share in the approaching period.
North American To Be Moved By Advanced Technology
The North American regional market is the principal base for top infusion pump manufacturers. It is anticipated to rule the principal market portion because advanced technologies incessantly develop in these countries. The North American region is anticipated to influence USD 3.49 billion by the end of 2023.
Strong Patient Base To Enhance The Market
The European regional market is estimated to account for the subsequent chief market expected to earn nearly USD 3.11 billion in earnings. This speedy growth is majorly owing to current expansions in healthcare and refining economies and disposable income per person.
Steady Growth To Power APAC
With the presence of opening for continuously growing economies, the Asia Pacific region is projected to be the fastest budding regional market.
The central companies in bolstering the infusion pump market size are
Dec 2020 Elkem Silicones, an international silicone producer, has shared its knowledge working with OEMs to explicitly progress a silicone product for the healthcare market and how the material can deliver more long-lasting solutions infusion drug delivery. The Silbione brand, a French-based company's Elkem's supplies medical silicone solutions, formed in a clean environment and reinforced by biocompatibility testing.
Oct 2020 Baxter International supplied an urgent device correction connected to all of its Spectrum infusion pumps. The device maker declared that deviations from specific cleaning methods might damage the pumps' functionality and performance. Baxter stated it had obtained 16 reports of an acute injury that may have been instigated by improper cleaning of the devices to residue buildup or corrosion. The company said that differing from cleaning methods designated in the operation manual may initiate corrosion of electrical pins on the infusion pump, triggering the pump to shut down without warning the user.
Oct 2020 Zyno Solutions, specialists in delivering intelligent IV infusion systems, will introduce the Nimbus Ambulatory Infusion Pump and the Z-800F Infusion Pump. The Nimbus electronic ambulatory infusion pump uses a sleek, pioneering technology; intended to be small in size, cost-effective, and flexible for numerous uses. With customizable infusion protocols and ambulatory pump programs, the Nimbus can collect several ambulatory infusion applications' requirements.
August 2020 Becton, Dickinson, and Company, a foremost international medical technology business, declared four voluntary recalls are moving the company's infusion pumps. These are huge volume infusion pumps that deliver controlled amounts of blood products, medications, fluids, and blood to patients as needed. Healthcare facilities and hospitals use the devices throughout various procedures, counting those focusing on critical care, cancer, pain management, and surgery.
|Market Size||USD 9.71 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||3M, BRAUN MELSUNGEN AG, Baxter, Becton, Dickinson and Company, Fresenius Kabi AG, ICU Medical, Inc, Smiths Medical, Terumo Medical Corporation|
|Key Market Opportunities||Growing Geriatric Population Presents Significant Growth|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global infusion pump market can touch a value of USD 9.71 billion by 2023.
The global infusion pump market can exhibit a CAGR of 5% from 2017 to 2023.
The volumetric pump segment has captured the maximum shares of the global infusion pump market under the ‘type’ segment.
The chemotherapy application has held the major share of the global infusion pump market.
North America can touch a valuation of USD 3.49 billion by 2023.
Baxter, Fresenius Kabi AG, Terumo Medical Corporation, Becton, Dickinson and Company, B. BRAUN MELSUNGEN AG, ICU Medical, Inc, 3M, and Smiths Medical are prominent players of the global infusion pump market.