The "Global Infusion Pump Market Size By Application, By End-User, By Geographic Scope And Forecast" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Infusion Pump Market, including its growth prospects, market trends, and market challenges
JERSEY CITY, N.J., Sept. 15, 2023 /PRNewswire/ -- The Global Infusion Pump Market is projected to grow at a CAGR of 6.0% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 14.26 Billion in 2022 and is expected to reach USD 22.79 Billion by the end of the forecast period.
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Browse in-depth TOC on "Infusion Pump Market"
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Global Infusion Pump Market: Insights, Growth Drivers, Outlook, and Key Players
The global Infusion Pump Market is set to witness significant growth in the coming years, driven by several key factors, including the increasing demand within the healthcare sector, a rising prevalence of chronic diseases worldwide, and advancements in infusion pump technology. In this press release, we delve into the market drivers, outlook, and key players contributing to this dynamic landscape.
Infusion Pump Market Drivers:
- Healthcare Sector Demand: The robust growth of the healthcare sector is a primary driver of the global infusion pump market. The escalating incidence of chronic illnesses such as cancer, diabetes, and gastroenterological disorders on a global scale is fueling the demand for advanced infusion pumps. These devices provide precise and automated delivery of vital medications and nutrients, reducing errors and enhancing patient care.
- Technological Advancements: The Infusion Pump Market has witnessed remarkable technological advancements, resulting in the development of next-generation pumps characterized by heightened accuracy, increased sensitivity to temperature and pressure, and expanded applications in food, chemical, and laboratory settings. This has significantly improved patient safety and the efficiency of medical procedures.
- Aging Population: The world's increasing geriatric population is another significant driver. Individuals aged 65 and above often require infusion pumps for the controlled dispensing of medication, hormones, nutrition, and other vital substances. As the elderly population continues to grow, the demand for Infusion Pump Market is expected to rise correspondingly.
Infusion Pump Market Outlook:
Despite the promising growth prospects, the global infusion pump market faces some challenges. The trend of viewing infusion pumps as commodities, a shortage of wireless connectivity in healthcare facilities, and associated safety concerns are potential hindrances to market growth. Additionally, the adoption of refurbished and rental infusion pumps is impacting the demand for new pump units. Addressing these challenges will be crucial for sustaining the market's growth trajectory.
Infusion Pump Market Key Players:
Several prominent companies are actively shaping the global infusion pump market. Key players in this industry include:
- Becton, Dickinson and Company
- B. Braun Melsungen
- Baxter International
- Fresenius Kabi
- ICU Medical
- Medtronic
- Moog Inc.
- Smiths Medical
- Terumo Corporation
- Roche Diagnostics
These companies are at the forefront of innovation, continually enhancing their product portfolios to meet the evolving needs of the healthcare industry.
In conclusion, the global infusion pump market is poised for substantial growth, driven by healthcare sector demand, technological advancements, and the aging population. To capitalize on this growth, key players are investing in research and development, striving to deliver cutting-edge infusion pump solutions to the market.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Infusion Pump Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Infusion Pump Market into Application, End-User, And Geography.
- Infusion Pump Market, by Application
- Chemotherapy/Oncology
- Diabetes
- Gastroenterology
- Analgesia/Pain Management
- Pediatrics/Neonatology
- Hematology
- Other
- Infusion Pump Market, by End-User
- Hospitals
- Home Care Settings
- Ambulatory Care Settings
- Academic & Research Institutes
- Infusion Pump Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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