Infusion Pumps Market is projected to reach US$ 6.6 Billion by 2030 | FMI

[295 Pages Report] FMI's recent report on infusion pumps projects the market to surge at a CAGR of 5.4% from 2020-2030. Growth is attributed to increasing diabetic population across prominent regions. As per World Health Organization's projections, there were 422 million diabetic people as of 2014, with a 5% increase in premature mortality.

Consequently, there has also been an increase in associated co-morbidities such as strokes, heart attacks, kidney failure and visual impairment. As a result, infusion pump usage has upticked in order to provide the appropriate medication and nutritional input.

To facilitate efficient drug delivery, manufacturers have incorporated various technological advancements in recent years. Additionally, the advent of wearable and smart infusion pumps is further fueling the market's revenue prospects.

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Infusion Pumps Market Outlook:

Data Points Market Insights
Market Value 2022 USD 4.4 Bn
Market Value 2030 USD 6.6 Bn
CAGR 2022-2030 5.0%
Key Players The key players are CareFusion Corporation, ICU Medical, Inc., Baxter International Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Terumo Corporation, Medtronic Plc, Smiths Medical, MOOG Inc., and Johnson & Johnson Services, Inc.
Share of Top 5 Countries 46.8%

Global Infusion Pumps Market- Key Takeaways

Rising prevalence of cancer to push forward oncology-grade infusion pumps usage in the coming years
Ambulatory pumps are poised to hold major sway in the wake of swift drug and nutrient delivery
Europe to pivot global infusion pumps market growth, capturing over 1/3rd of the revenue pie
Global infusion pumps market is likely to surpass US$ 6 Bn by 2030-end
Favorable business reimbursement policies are expected to bolster infusion pumps demand in coming years

COVID-19 Impact Analysis

The COVID-19 pandemic is anticipated to have a moderate impact on the global infusion pumps market. In the initial months of the pandemic's onset, a slump in the demand-supply equation was observed. This was in response to the imposition of lockdowns and social distancing protocols. Eventually, a resurgence was recorded.

In recent months, regulatory authorities such as the U.S Food and Drug Administration (FDA) issued emergency use authorization to increase the availability of infusion pumps and related accessories. Infusion pumps have been pivotal in administering vital medicines and parenteral nutrition to patients admitted for chronic ailments.

As hospitals reach a saturation point, governments are providing flexibility to infusion pump manufacturers to address supply shortages by permitting them to resume operations. This is slated to sustain the infusion pumps market demand in the short-term forecast.

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Global Infusion Pumps Market- Competitive Intelligence

Prominent players 

Fresenius Kabi AG,
Terumo Corporation,
Medtronic Plc,
Baxter International Plc.,
Smith Medical,
MOOG Inc.,
Johnson & Johnson Services Inc.,
ICU Medical Inc. and
Becton Dickinson & Company among others.

Product launches, expansions, collaborations and other inorganic strategies are being pursued by the aforementioned players. In 2019, Terumo Corporation announced the launch of its TERUFUSION Infusion Pump Type LM Series which utilize smart cutting-edge IT solutions to deliver optimal management and prevents inadvertent excess infusion of drugs into the patient.

In 2010, Hospira Inc. partnered with Smith Medical to market and promote various infusion pumps. The companies collaborated in order to co-promote Hospira's Symbiq and Plum A+ general infusion pumps along with its Hospira MedNet safety software. The venture also promoted Smith Medical's Medfusion syringe pumps with the PharmGuard Medication Safety Software.

More Insights on the Infusion Pumps Market Report

A recent market study published by FMI on the ophthalmic lasers market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report incorporates an unbiased analysis of the following segments: product type (syringe pumps, ambulatory pumps, volumetric pumps, implantable pumps, insulin pumps, enteral pumps, PCA pumps and pump accessories), application (chemotherapy/oncology, pediatrics/neonatology, analgesia, gastroenterology, hematology and diabetes), end-user (hospitals, ambulatory surgical centers, homecare, clinics and others) and region (North America, Latin America, Europe, MEA, East Asia, South Asia and Oceania).

Infusion Pumps Market - Key Segment

Product Type

Syringe Pumps
Ambulatory Pumps
Volumetric Pumps (Peristaltic and Cassette/Piston)
Implantable Pumps
Insulin Pumps
Enteral Pumps
PCA Pumps
Pump Accessories

Application

Chemotherapy/Oncology
Pediatrics/Neonatology
Analgesia
Gastroenterology
Hematology
Diabetes

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End User

Hospitals
Ambulatory Surgical Centers
Homecare
Clinics
Others

Region

North America
Latin America
Europe
Middle East & Africa (MEA)
East Asia
South Asia
Oceania

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.