Infusion Pumps and Accessories Market is Projected to Grow Expeditiously: USD 13.2 Bn Revenue by 2031
High prevalence of chronic diseases, surge in global geriatric population, growth in demand for home healthcare, and infusion pumps possess wide range of application drive the growth of the global infusion pumps and accessories market. However, several errors associated with infusion pumps and stringent government regulations hinder the market growth. On the other hand, various growth opportunities from emerging economies and development of efficient infusion pumps present new opportunities in the coming years.
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Syringe infusion pumps are type of infusion pumps that have the ability to infuse or withdraw fluids and are used to deliver small amounts of fluid or medications to patients. In this device, the syringe plunger is pushed forward by the motor to deliver the liquid. Syringe infusion pumps are commonly used for delivery of precise doses of drugs and infusion fluids. Insulin infusion pump is a small electronic pump that can be carried by patients. The pump mimics the functions of pancreas and precise doses of rapid-acting insulin for 24 hours through a Continuous Subcutaneous Insulin Infusion (CSII).
Infusion Pumps and Accessories Market Segmentation
The accessories & disposables segment to maintain its leadership status throughout the forecast period
Based on product type, the accessories & disposables segment held the highest market share in 2020, accounting for nearly two-thirds of the global infusion pumps and accessories market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to increase in prevalence of diabetes patients. Moreover, the Devices & Pumps segment is projected to manifest the highest CAGR of 5.2% from 2021 to 2030.
The hospitals segment to maintain its lead position during the forecast period
Based on end user, the hospitals segment accounted for the largest share in 2020, contributing to more than half of the global infusion pumps and accessories market, and is projected to maintain its lead position during the forecast period. This is due to increase in use for pediatrics in hospitals. However, the home care segment is expected to portray the largest CAGR of 5.5% from 2021 to 2030.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global infusion pumps and accessories market. This is owing to the robust infrastructure provided for research activities and presence of key players across North America. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 5.3% during the forecast period, owing to increase in use of Infusion pump & accessories products, R & D activities for new product launch, and rise in investments in the healthcare sector in the region.
Leading Market Players:
B. Braun Melsungen AG
Baxter International Inc.
Becton Dickinson & Company
Fresenius SE & Co
ICU Medical Inc.
Insulet Corporation
Johnson & Johnson
Medtronic Plc
Moog Inc.
Terumo Corporation
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