Infusion Pumps Market SWOT and PEST Analysis 2021-2031
The infusion pumps market size is projected to reach US$ 30.41 billion by 2031 from US$ 15.67 billion in 2023. The market is expected to register a CAGR of 8.6% in 2023–2031. The internet of things (IoT) is set to revolutionize infusion pump technology, which serves as a key infusion pumps market trends.
Infusion Pumps Market Analysis
The rising prevalence of chronic diseases and the growing number of surgeries are some factors that provide opportunities for players in the market to offer new and innovative products. The worldwide infusion pump market is anticipated to expand due to the aging population. Infusion pumps may be necessary for those people over 65 for various reasons, including nourishment, hormones, and medication. Technological developments are fueling the infusion pump market's expansion. More precise, user-friendly, and dependable pumps are being produced by manufacturers than ever before. The need for infusion pumps is increasing as a result of innovations that make the devices more accessible to both patients and healthcare professionals. Infusion pumps help precisely distribute fluids like medicine, antibiotics, and nourishment throughout the body in a regulated environment.
Infusion Pumps Market Overview
The infusion pump is a commonly used medical device for patients with chronic conditions such as cancer and diabetes used at hospitals, homes, and healthcare centers. Infusion pumps are used to deliver medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. Infusion pumps successfully address the delivery-related problems that have serious implications on patient safety, with their ability to administer fluids, medication, and nutrients at very precise intervals, volume, and frequency. Diabetes and cancer patients are contributing significantly to the usage of infusion pumps, which in turn boosts market growth. Further, according to the latest Global Burden of Disease study published in October 2020, the prevalence of chronic and infectious diseases, such as ischemic heart disease, respiratory infection, chronic kidney disease, cancer, and diabetes, is increasing in the US. The Canadian Cancer Society reported that cancer remains the leading cause of death in Canada in 2021. It is estimated that every 2 in 5 Canadians will be diagnosed with cancer in their lifetime.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Infusion Pumps Market: Strategic Insights
Market Size Value in US$ 11,378.8 Million in 2017 Market Size Value by US$ 18,045.6 Million by 2025 Growth rate CAGR of 6.2% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Infusion Pumps Market: Strategic Insights
Market Size Value in | US$ 11,378.8 Million in 2017 |
Market Size Value by | US$ 18,045.6 Million by 2025 |
Growth rate | CAGR of 6.2% from 2018-2025 |
Forecast Period | 2018-2025 |
Base Year | 2018 |
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystInfusion Pumps Market Drivers and Opportunities
Increasing Incidence of Chronic Diseases to Drive the Market Growth
The infusion pump is a commonly used medical device for patients with chronic conditions such as cancer and diabetes used at hospitals, homes, and healthcare centers. Infusion pumps provide significant advantages over the manual delivery of fluids, such as the ability to administer the fluids in a very small dosage and at accurately programmed rates. In many chronic cases, such as cancer and diabetes, these pumps are employed to deliver medication to maintain medicine levels in the bloodstream at a steady state. Cancer is one of the prominent causes of death worldwide, responsible for almost 10 million deaths in 2020. According to the GLOBOCAN Report 2020, ~19.29 million new cancer cases have been reported globally, along with 9.95 million reported deaths caused by the disease. The major cancer types affecting economies are breast cancer, lung cancer, prostate cancer, and colorectum cancer. Moreover, according to the International Diabetes Federation, 537 million people globally, aged 20–79, had diabetes in 2021, and the number is projected to reach to 783 million by 2045. Chronic diseases typically require long-term treatment, and infusion pumps are a necessary tool for delivering medication to patients for long periods. The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases surge the demand for infusion pumps, thereby driving the growth of the market.
Increasing Healthcare Potential of Emerging Economies to Favor Market Growth
Developing countries report a high prevalence of chronic diseases due to significant shifts in people’s lifestyles. In developing nations like China, India, and Brazil, players in the infusion pump market are presented with substantial development potential. This can be attributed to advancements in these nations' healthcare systems, large patient populations, as well as patients' increasing awareness about treatment alternatives. Major pharmaceutical companies have been focusing on expanding their reach across emerging markets by growing their distribution networks and augmented manufacturing capabilities. Moreover, rising per capita income and healthcare spending in developing countries across the Asia Pacific and Latin America has increased patients' access to cutting-edge medical treatments. These factors offer noteworthy opportunities for expansion to players involved in the infusion pumps market
Infusion Pumps Market Report Segmentation Analysis
Key segments that contributed to the derivation of the infusion pumps market analysis are type, application, and end user.
- Based on type, the infusion pumps market is divided into ambulatory pumps, volumetric pumps, syringe pumps, accessories. The volumetric pumps segment held the largest market share in 2023. In addition, the ambulatory pumps segment is anticipated to register the highest CAGR during the forecast period.
- In terms of application, the market is categorized into diabetes, chemotherapy, gastrointestinal diseases, pediatrics. The chemotherapy segment held the largest market share in 2023. In addition, the diabetes segment is projected to register the highest CAGR during the forecast period.
- Based on end user, the infusion pumps market is segmented into hospitals & clinics, ambulatory surgical centers, homecare. The hospitals & clinics segment held the largest market share in 2023 and is estimated to register the highest CAGR during the forecast period.
Infusion Pumps Market Share Analysis by Geography
The geographic scope of the infusion pumps market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the infusion pumps market. The presence of leading market players and their product developments, the growing geriatric population, and rising prevalence of chronic diseases and infections favor the market’s growth in the region. Moreover, the greater diagnosis and treatment rates for diabetes linked with the surge in adoption of ambulatory pumps, and favorable reimbursement procedures in the region fuel the growth of the market.
Asia Pacific is anticipated to grow with the highest CAGR in the coming years. Growing prevalence of chronic diseases, rising healthcare infrastructure, growing disposable income, and growing awareness about the availability and accessibility to advanced therapies are some of the factors that are likely to support the market growth in the region.
Infusion Pumps Market Report Scope
Infusion Pumps Market News and Recent Developments
The infusion pumps market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for biodefense and strategies:
- In August 2023, ICU Medical Inc. received 510(k) regulatory clearance from the US Food and Drug Administration for the Plum Duo infusion pump with LifeShield infusion safety software. The pump features a large touch screen with a highly intuitive user interface and two channels capable of delivering up to four compatible IV medications. (Source: ICU Medical Inc., Press Release, 2023)
- In May 2022, Fresenius Kabi completed the acquisition of Ivenix, a manufacturer of infusion systems. Fresenius Kabi now offers health care professionals in the US a broad and expanding portfolio of advanced infusion pumps and solutions to meet needs across the continuum of care. (Source: Fresenius SE & Co. KGaA, News Release, 2022)
- In June 2021, Baxter Healthcare and Micrel Medical, entered into an agreement for the distribution of the Micrel Mini Rythmic PN+ infusion pump for parenteral nutrition. As part of the agreement, Baxter Healthcare is the sole distributor of the Micrel Mini Rythmic PN+ infusion pump and its accessories across Australia and New Zealand. (Source: Baxter, Press Release, 2021)
Infusion Pumps Market Report Coverage and Deliverables
The “Infusion Pumps Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , By Application and End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Infusion Pumps Market
May 2024
Dental Laser Treatment Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Hard Tissue, Soft Tissue, and Others), End User (Hospitals, Dental Clinics, Dental-Owned Practices, and Others), Clinical Indication [Conservative Dentistry, Root Canal (Endodontic Treatment), Oral Surgery, Implantology, Peri-Implantitis, Periodontics, and Others], and Geography
May 2024
Antimicrobial Surgical Suture Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Triclosan Antimicrobial Suture and Chlorhexidine Antimicrobial Suture), Raw Materials (Polyglactin 910 Antimicrobial Suture, Poliglecaprone 25, and Polyglycolic Acid), Application (Cardiovascular Surgery, General Surgery, Ophthalmic Surgery, Gynecological Surgery, Orthopedic Surgery, Plastic Surgery, Veterinary Surgery, Dental Surgery, and Others), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2024
Smart Hospital Beds Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Patient Weight (Less than 70 lb, 70 to 150 lb, 150 to 400 lb, 400 to 500 lb, Greater than 500 lb); Offering (Products and Accessories, Software and Solutions, and Services); Application (Fall Prevention, Pressure Injury Prevention, Patient Deterioration and Monitoring, and Others); End User (Hospitals, Clinics and Nursing Homes, Ambulatory Surgical Centers, Medical Laboratories, Long Term Care Centers, and Others), and Geography
May 2024
Heart Transplant Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Surgery Type (Orthotopic Heart Transplant and Heterotopic Heart Transplant), Type (Donor Live Heart and Artificial Hearts), End User (Hospitals, Cardiac Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2024
Breath Analyzer Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Fuel Cell Technology, Semiconductor Sensor, Infrared Spectroscopy, and Others), Application (Drug Abuse Detection, Alcohol Detection, and Medical Applications), End User (Law Enforcement Agencies, Hospitals & Diagnostic Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2024
Osteoarthritis Therapy Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Therapy Type (TENS, Occupational Therapy, Physical Therapy, Platelet-Rich Plasma Therapy and Stromal Vascular Fraction, Prolotherapy, and Others), Disease Indication (Knee Osteoarthritis, Spine Osteoarthritis, Foot and Ankle Osteoarthritis, Shoulder Osteoarthritis, Hand Osteoarthritis, and Others), End User (Hospitals and Clinics, Specialty Clinics, Ambulatory Surgical Centers, Homecare, and Others), and Geography
May 2024
Surgical Navigation Systems Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Optical Navigation System, Electromagnetic Navigation System, Hybrid Navigation System, Fluoroscopy Navigation System, CT-Based Navigation System, and Others), Application (Orthopedic, ENT, Neurology, Dental, and Others), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography
May 2024
Skull Clamp Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Three-Pin Skull Clamp, Four-Pin Skull Clamp, and Two-Pin Skull Clamp), Application (Surgery and Medical Imaging), Material (Stainless Steel, Aluminum Alloy, Titanium, and Radiolucent), Accessories (Skull Pins, Headrest, and Others), End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)