Dublin, May 06, 2022 (GLOBE NEWSWIRE) — The report “Infusion Pumps and Accessories Market by Type, Application and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” has been added to from ResearchAndMarkets.com offer.
Infusion Pumps and Accessories Market was valued at USD 8138.49 Million in 2020 and is projected to reach USD 13264.18 Million by 2030, growing at a CAGR of 5.0% from 2021 to 2030.
Factors driving the growth of the infusion pumps and accessories market include increasing prevalence of chemotherapy procedures and increasing demand for infusion pumps for pediatric use. Additionally, increasing demand for ambulatory infusion pumps in home care facilities is also fueling the growth of the market. However, stringent government regulations and reforms associated with infusion therapy are hampering the market growth. Conversely, development of new products by key players along with large production of infusion pumps and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.
Major factors driving the growth of the infusion pumps and accessories market include increasing incidence of chronic diseases such as diabetes, cardiovascular disorders, and cancer; growth of the geriatric population which is more prone to the aforementioned disorders; many applications of infusion pumps; and an increase in demand for home infusion pump products. For example, in February 2021, Mindray Medical launched BeneFusion e series-esp, evp and eds, new infusion systems to expand its product portfolio. Additionally, in 2020, Medtronic Plc launched the Exillia infusion pump to meet growing demand from the COVID-19 pandemic. Thus, development of infusion pump devices by key players propels the growth of the market.
Early diagnosis of chronic diseases at the bedside or near the bedside or at home increases the chances of successful treatment and further minimizes hospital expenses. The home care market is growing in popularity as it is a cost-effective alternative to hospital treatment for chronic conditions. Home infusion pumps provide better and immediate results. Additionally, the Portable Elastomeric Infusion System developed by Baxter International Inc. is a home infusion system that provides 30 minutes to 5 hours of continuous infusion. It is used for outpatient drug therapies that require intermittent infusion and can be used to deliver outpatient parenteral antimicrobial therapy (OPAT). Hence, the growth in the demand for home healthcare is driving the growth of the infusion pumps and accessories market.
The infusion pumps and accessories market is segmented on the basis of type, application, end user and region. On the basis of type, the market is segmented into devices and pumps and accessories and disposables. Further, devices and pumps are divided into syringe infusion pumps, insulin infusion pumps, volumetric infusion pumps, ambulatory infusion pumps, patient-controlled analgesia pumps, implantable infusion pumps and enteral infusion pumps. . The Accessories and Disposables segment is divided into infusion catheters, valves, IV sets, cannulas, tubing, needles and other disposables.
The accessories and disposables segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increasing number of product approvals, progress of R&D activities in pharmaceutical and medical device industries and an increase in the adoption of infusion. pump products.
By application, it is fragmented into diabetes, gastroenterology, analgesia and pain management, chemotherapy, pediatrics and neonatology, and others. Gastroenterology has acquired the leading position in the market in 2020, and this trend is expected to continue during the forecast period, due to the large number of infusion pump products offered by major players.
By end user, it is divided into hospitals, home care, outpatient surgery centers and others. Regionally, it is analyzed across North America, Europe, Asia-Pacific and LAMEA
North America accounted for the majority of the global infusion pumps and accessories market share in 2020 and is expected to remain dominant during the forecast period. This is attributed to an increase in the number of approvals, an increase in the presence of key players, and an increase in the development of healthcare technology in the region. Asia-Pacific is expected to experience lucrative growth, owing to rising number of cancer cases, increase in chemotherapy procedures, and growth in healthcare expenditure.
Main results of the study
- By type, the accessories and disposables segment was the largest contributor to the market in 2020
- Based on the type of application, gastroenterology led the market in 2020 and is expected to continue this trend during the forecast period
- On the basis of end user, hospitals dominated the market in 2020 and are expected to continue this trend during the forecast period
- Regionally, North America generated the largest revenue share in 2020, while Asia-Pacific is expected to grow at the highest CAGR during the forecast period
- North America accounted for the majority of the infusion pumps and accessories market share in 2020 and is expected to remain dominant during the forecast period. This is attributed to increasing prevalence of chronic diseases, presence of key players, development of healthcare industry and presence of numerous infusion pump products Asia Pacific is expected to experience lucrative growth , due to an increase in the prevalence of diabetes patients and improved health infrastructure
- High prevalence of chronic diseases
- Rise of the global geriatric population
- Growth in demand for home care
- Infusion pumps have a wide range of applications
- Several errors associated with infusion pumps
- Strict government regulations
- Diverse Growth Opportunities in Emerging Economies
- Development of efficient infusion pumps
- B. Braun Melsungen AG
- Baxter International
- Becton Dickinson & Company
- Fresenius SE & Co.
- ICU Medical Inc.
- Island Corporation
- Johnson & Johnson
- Medtronic Plc, Moog Inc.
- Terumo Company.
For more information about this report visit https://www.researchandmarkets.com/r/acijx
Infusion Pumps and Accessories Market
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