Infusion Pumps Segment to Bolster Infusion Devices Market Growth During 2023–2031.
According to our new research study on "Infusion Devices Market Forecast to 2031 – Global Analysis – by Product Type, Application, and End User," the market is expected to grow US$ 23.08 billion by 2031 from US$ 13.73 billion in 2023; the market is estimated to register a CAGR of 6.7% during 2023–2031. The infusion devices market report emphasizes the trends prevalent in the global market, along with drivers and deterrents affecting its growth. Mounting cancer prevalence and growing geriatric population are contributing to the infusion devices market growth. However, frequent product recalls of infusion devices hamper the market growth.
Technological advancements are expected to bring new infusion devices market trends in the coming years. The field of healthcare is experiencing significant technological advancements, with IV infusion systems leading the way in innovation. A few latest developments in IV infusion technology are smart pumps, wireless connectivity, electronic health record integration, and other features designed to improve operational efficiency.
Infusion Devices Market Share, by Region, 2023 (%)
Infusion Devices Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Infusion Pumps Pumps [Volumetric Pumps, Syringe Pumps, Insulin Pumps, Patient Control Analgesia (PCA) Pumps, Enteral Pumps, Implantable Pumps, and Elastomeric Pumps] and Infusion Sets [Vented Infusion Sets and Non-Vented Infusion Sets], Application (Diabetes, Oncology, Pain Management, Hematology, Pediatrics, Gastroenterology, and Others), End User (Hospitals and Specialty Clinics, Homecare Settings, Ambulatory Surgical Centers, and Others), and Geography
Infusion Devices Market Size, Growth, and Share by 2031
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Source: The Insight Partners Analysis
Smart Pump Integration: These devices are designed for precise and programmable fluid delivery, ensuring accurate dosing while ensuring patient safety. In addition to health benefits, smart pumps contribute to operational efficiency by automating and optimizing the infusion process. For example, in April 2024, Baxter announced the US FDA clearance of Novum IQ Large Volume Infusion Pump and Dose IQ Safety Software, advancing connected and intelligent infusion therapy. The Novum IQ Infusion Platform offers large volume and syringe infusion smart pumps on an integrated system with shared innovative digital health solutions to improve patient safety and efficiency for clinicians.
Remote Monitoring: The integration of wireless connectivity in IV infusion systems can transform the handling of infusion therapies. This feature enables remote monitoring and management, allowing providers to supervise multiple infusion setups from a central location. Remote monitoring technology also enhances the overall workflow within healthcare facilities and streamlines logistical aspects. Infuzamed provides a mobile, wearable infusion pump with advanced remote monitoring and control capabilities. The lightweight product eliminates the use of traditional cumbersome wires and poles. The device fits sleekly and comfortably on a patient's forearm and requires no additional attachments.
Increasing Cancer Prevalence Bolsters Infusion Devices Market
As per the WHO, in 2022, there were 19,976,499 cancer cases and 9,743,832 deaths due to cancer. The globally increasing prevalence of cancer creates a burden on healthcare systems by bolstering the demand for chemotherapy, immunotherapy, and targeted therapy. Infusion devices are commonly used for delivering these treatments. Chemotherapy drugs are prescribed to be given slowly to reduce side effects, as they are highly toxic. Chemotherapies can also be taken orally. Other types of cancer therapies, such as immunotherapies and targeted therapies, use monoclonal antibodies. Infusion therapy is majorly required for administering treatment with monoclonal antibodies. These drugs are used to treat cancers and other conditions, such as autoimmune diseases. Infusions can be administered at a clinic or home. Thus, the increasing prevalence of cancer boosts the growth of the infusion devices market.
The infusion devices market analysis has been carried out by considering the following segments: product type, application, end user, and geography. The infusion devices market, by product type, is bifurcated into infusion pumps and infusion sets. The infusion pumps segment held a larger infusion devices market share in 2023, and it is expected to register a higher CAGR during 2023–2031. Growing cases of chronic diseases, such as cancer, diabetes, and others, propel the demand for their proper treatment, which drives the need for different types of infusion pumps. Volumetric pumps, syringe pumps, elastomeric pumps, insulin pumps, enteral pumps, and patient control analgesia pumps are a few types of infusion pumps. Market players are launching products with advanced technologies to treat various diseases. For instance, in April 2024, Baxter International Inc. announced the clearance of its Novum IQ large volume infusion pump (LVP) with Dose IQ Safety Software. This addition of LVP modality to the Novum IQ Infusion Platform, which includes Baxter's syringe infusion pump (SYR) with Dose IQ Safety Software (powered by the IQ Enterprise Connectivity Suite), allows clinicians to use a single, integrated system across various patient care settings. The introduction of Novum IQ LVP in the US demonstrates Baxter's dedication to ongoing innovation in advancing infusion therapy.
Based on application, the infusion devices market is segmented into diabetes, pain management, hematology, pediatrics, gastroenterology, and others. The diabetes segment held the largest infusion devices market share in 2023. According to the Diabetes in Canada 2023, Type 1, accounting for 5–10% of cases, requires insulin therapy for life. Type 2, which covers 90–95% of cases, is treated with health behavior modifications, oral medications, or injectables such as insulin. Both diabetes types need infusion pumps, such as insulin pumps, to regulate and monitor the essential amount of glucose in the patient's bloodstream. An insulin pump is a small device that continuously delivers insulin to manage carbohydrate intake. The pump contains a reservoir connected to a small plastic tube called a cannula, through which insulin is infused into fatty tissue. The cannula, along with a needle, is inserted under the skin for insulin delivery. MiniMed 780G insulin pump system and MiniMed 630G insulin pump by Medtronic plc are a few of the infusion devices available in the market for the treatment of diabetes.
Based on end user, the infusion devices market is segmented into hospitals and specialty clinics, ambulatory surgical centers, homecare settings, and others. The hospitals and specialty clinics segment held the largest share of the global infusion devices market in 2023.
The geographic scope of the infusion devices market report includes the assessment of the market performance in North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. North America accounted for the largest infusion devices market size in 2023. The presence of leading market players such as BD, Baxter International Inc., Moog Inc., and ICU Medical, Inc. is benefiting the infusion devices market in this region. These market players adopt development strategies and launch various innovations, which create the demand for infusion pumps and infusion sets among end users, including hospitals and home care in North America. The US holds the largest share of the infusion devices market in North America.
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