Infusion Pumps Market Growing at Steady CAGR to 2030 | Fresenius Kabi, ICU Medical, Smiths Medical, Medtronic

The Infusion Pumps Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Infusion pumps are medical devices used to deliver fluids, medications and nutrients into a patient's circulatory system in controlled amounts. These pumps are used in a variety of clinical settings such as oncology, diabetes management, pain management and nursing care.

Market Dynamics:

The growth of the infusion pumps market is driven by the rising incidence of chronic diseases such as cancer, diabetes and cardiovascular diseases. According to World Health Organization (WHO), chronic diseases accounted for approximately 60% of all deaths worldwide in 2001 with rates steadily increasing each year. Furthermore, technological advancements in infusion therapy with the introduction of smart, wireless and ambulatory infusion pumps is also fueling market growth. These new generation infusion pumps allow for increased mobility and remote monitoring of patients.

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‣ Brief Overview to the research study.

‣ Table of Contents The scope of the study's coverage

‣ Leading market participants

‣ Structure of the report's research framework

‣ Coherent Market Insights' research approach

Major companies in Infusion Pumps Market are:

✤ BD
✤ Fresenius Kabi
✤ ICU Medical
✤ Smiths Medical
✤ Medtronic
✤ B. Braun Melsungen

Note: Major Players are sorted in no particular order.

Major Market Drivers for the Infusion Pumps Market

Increasing Prevalence of Chronic Diseases Requiring Infusion Therapy

With rising chronic disease burden globally, conditions like cancer, diabetes and cardiovascular diseases are significantly driving the demand for infusion pumps. Infusion therapy is an effective treatment option for many chronic diseases that allows for controlled delivery of medications such as antibiotics, chemotherapy drugs and pain relievers. As per WHO, cancer burden is expected to grow by over 50% in the next 20 years alone. This growing patient pool with chronic diseases is a key factor fueling the infusion pumps market growth.

Advancing Technology and Innovation in Infusion Pumps

Continuous technological advancement is expanding the capabilities of infusion pumps. Features like touchscreens, additional functionalities, wireless connectivity and smart capabilities are making infusion pumps more accurate and user-friendly. This is increasing their adoption across various healthcare settings. Industry players are also introducing innovative ambulatory, portable and wearable infusion devices that allow patients to receive treatment outside of clinical facilities. The new generation of smarter "smart pumps" with clinical decision support is optimizing drug delivery and enhancing patient safety as well. Overall, ongoing technology innovations are positively impacting the infusion pumps market expansion.

Major Market Restrain for the Infusion Pumps Market

Stringent Regulatory Framework and Clinical Validations Required

Infusion pumps are classified as class III medical devices by regulatory bodies and require rigorous clinical testing and validations before market approval and commercialization. The approval process is quite long and resource-intensive. Moreover, infusion pumps are subjected to strict quality standards, performance testing, post-market surveillance and adverse event reporting. Any non-compliance can lead to product recalls affecting brand image and revenues of the companies. The stringent regulatory environment increases the compliance burden for the manufacturers, thus restraining the market to some extent.

Major Market Opportunity for the Infusion Pumps Market

Increasing Home Healthcare and Ambulatory Infusion Therapy Demand

The preference for home healthcare and ambulatory care settings over conventional hospital treatment is providing significant opportunities for infusion pumps market. Home infusion therapy allows patients to receive treatment for chronic conditions while staying at home, improving their quality of life. This trend is driven by the desire to avoid high hospitalization costs and receive treatment in a familiar environment. It is also enabled by the availability of advanced portable and wearable infusion pumps. The home healthcare market for infusion pumps is expected to grow twice as fast as the hospital market in the coming years.

Major Market Trend for the Infusion Pumps Market

Adoption of Specialty Pumps for Specific Therapies and Patient Groups

The demand specific infusion therapies for certain diseases and patient demographics is shaping new product development trends. For instance, specialty pumps tailored for pediatrics with child-friendly features, elastomeric pumps for chemotherapy, syringe pumps for intra-arterial administration and enteral nutrition pumps. There is also focus on developing multi-therapy pumps to support diverse infusion applications. Wearable and specialty insulin pumps have revolutionized diabetes management as well. Such niche products catering to unmet needs of certain patient groups and clinical conditions will be a notable trend, driving significant market opportunities.

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Highlights of the global Infusion Pumps Market report:

→ This analysis provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), using 2021 as the base year. It also covers the global Infusion Pumps Market in-depth.

→ It offers enticing investment proposition matrices for this sector and explains the likely future growth of key revenue streams.

→ Additionally, this study offers crucial insights into market forces, limitations, opportunities, new product introductions or approvals, market trends, regional perspective, and competitive tactics used by top rivals.

→ Based on the following factors: company highlights, product portfolio, significant highlights, financial performance, and strategies, it covers key players in the global Infusion Pumps Market.

→ Marketers and company leaders will be able to make wise decisions about next product launches, type updates, market expansion, and marketing strategies thanks to the insights from this research.

→ A wide spectrum of industry stakeholders are covered by the global Infusion Pumps Market research, including investors, vendors, product producers, distributors, new entrants, and financial analysts.

→ The many strategy matrices used in researching the global Infusion Pumps Market will aid stakeholders in making decisions.

The research was developed through the synthesis, analysis, and interpretation of data gathered from multiple sources on the parent market. Additionally, analysis has been done of the economic circumstances and other economic indicators and factors to evaluate their respective impact on the Infusion Pumps Market, along with the present impact, so as to develop strategic and informed projections about the scenarios in the market. This is mostly due to the developing countries' unmet potential in terms of product pricing and revenue collection.

Key Questions Answered In The Report:

• Which regional market will experience the greatest and most rapid growth?

• Who are the top five Infusion Pumps Market players?

• How will the Infusion Pumps Market evolve over the next six years?

• What application and product will dominate the Infusion Pumps Market?

• What are the market drivers and constraints for Infusion Pumps Market?

• What will be the Infusion Pumps Market's CAGR and size during the forecast period?

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About Coherent Market Insights

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This release was published on openPR.