Global Infusion Pumps Market to surpass US$ 6,057.4 Mn by end of 2028, Says Coherent Market Insights

Global Infusion Pumps Market to surpass US$ 6,057.4 Mn by end of 2028, Says Coherent Market Insights

PR Newswire

SEATTLE, Nov. 11, 2021

SEATTLE, Nov. 11, 2021 /PRNewswire/ -- According to Coherent Market Insights, The global infusion pumps market is estimated to account for 6,057.4 Mn in terms of value by the end of 2028.

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An infusion pump is a medical device that delivers liquids directly to a patient's blood or bodily fluids. In the case of intravenous fluids, it is used to replace lost fluids from the broken bones, heart, or other tissues. It is usually employed intravenously, but subcutaneous, venous, and arterial infusions can also be administered. In the case of arterial and venous fluids, an infusion pump delivers oxygen, supplemental oxygen, or hydraulic fluid directly to the lungs or to any specified area of the body. It is designed for single or multiple doses, depending on the requirements of the individual. In the case of subcutaneous fluid infusion pumps, they deliver nutrients directly to the body. This type of pump is used in various situations such as to replace liquids lost due to diarrhea, vomiting, and loss of fluids due to exercise, surgery, or shock.

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Market Drivers

1.  Increasing incidence of chronic diseases is expected to drive growth of the global infusion pumps market during the forecast period.

Several chronic diseases such as cancer, cardiovascular disease (CVD), and cystic fibrosis have witnessed a significant increase in incidences over the years. According to the World Health Organization (WHO), in 2018, around 9.6 million died due to cancer with over 300,000 new cases of cancer being diagnosed each year among children aged 0-19 years across the globe. According to the same source, around 17.9 million people die each year from cardiovascular disease worldwide. According to the Cystic Fibrosis Foundation (CFF), in the U.S., over 1,000 new cases of cystic fibrosis are diagnosed each year. As a result of this, the demand for infusion pumps has increased in homecare settings worldwide.

2.  Increasing number of surgical procedures is expected to propel the global infusion pumps market growth over the forecast period

With technological advancements in the medical sector and devices, the adoption of surgical procedures has increased. As a matter of fact, the advent of minimally invasive procedures and novel medical devices have made surgical procedures a lot safer than they were previously. As a result of this, the demand for infusion pumps has increased across healthcare facilities such as hospitals and clinics.

Market Opportunity

1.  Continuous research and development activities can present lucrative growth opportunities

Key companies are focused on research and development activities and laying key emphasis on the launch of advanced products, in order to expand their product portfolio and gain a competitive edge in the market. For instance, in April 2021, Medtronic Inc. launched its Medtronic Extended infusion set in select European countries.

2.  Rising disposable income in emerging economies can provide major business opportunities

Many emerging economies including China, India, and Brazil have witnessed a significant increase in disposable. This, in turn, has led to increase in demand for advanced medical devices including infusion pumps. The adoption of homecare settings has also increased across these countries, which has further accelerated the demand for infusion pumps.

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Market Trends

1.  North America Trends

North America is expected to witness significant growth in the global infusion pumps market during the forecast period. This is owing to rapid technological developments combined with growing burden of chronic diseases such as diabetes and cancer across the region. Furthermore, the presence of key companies such as Medtronic Inc. and Pfizer Inc. is expected to boost the regional market growth in the near future.

2.  Asia Pacific

Asia Pacific is expected to register a robust growth rate, owing to rising investment in the healthcare sector coupled with growing disposable income in emerging economies across the region. Furthermore, increasing geriatric population is expected to propel the regional market growth over the forecast period.

Competitive Section

Major companies involved in the global infusion pumps market are Baxter International Inc., Becton, Dickinson, and Company, Braun Melsungen AG, CareFusion Corporation, Eli Lilly and Company, F. Hoffmann-la Roche Ltd, Fresenius Kabi, ICU Medical Inc., Johnson & Johnson, Medtronic Inc., Nipro Corporation, Option Care Health Inc., Pfizer Inc., Smiths Medical, and Terumo Corporation.

For instance, in January 2021, Eitan Medical received the U.S. Food and Drug Administration (FDA) 510(k) clearance for an upgraded Sapphire infusion pump system.

Global Infusion Pumps Market, By Region:

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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