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Intravenous Infusion Pumps Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Intravenous Infusion Pumps Market
According to The Business Research Company's, The intravenous infusion pumps market size has grown strongly in recent years. It will grow from $5.71 billion in 2023 to $6.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to advances in medical technology, aging population, home healthcare services, hospital and healthcare facility expansion, regulatory standards.
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Market Drivers and Trends:
The increasing prevalence of bleeding disorders is expected to propel the growth of the intravenous infusion pump market in the coming years. Bleeding disorders are a category of medical illnesses that impair the body's capacity to correctly produce blood clots. These conditions can cause excessive and persistent bleeding following an accident or surgery, and hemorrhage can also start on its own and be difficult to control. Intravenous infusion pumps are a significant therapy tool for bleeding problems. Intravenous infusion pumps may be used to deliver these drugs in a precise and regulated way, guaranteeing the patient receives the exact dose at the correct time. For instance, in June 2021, according to the National Blood Authority, an Australia-based statutory government, the Australian Bleeding Disorders Registry had 7,040 active patients with bleeding disorders, of which hereditary hemophilia A (HMA) affects around 36% of individuals, followed by hereditary von Willebrand disease (VWD). Therefore, the increasing prevalence of bleeding disorders is driving the growth of the intravenous infusion pump market.
Major companies operating in the intravenous infusion pump market are focusing on innovative products like the Novum IQ syringe infusion pump (SYR) to better meet the needs of their existing consumers. A syringe infusion pump, additionally referred to as a syringe driver, is a motorized device that precisely regulates the passage of fluid from a syringe by inserting or withdrawing the plunger mechanically. It is a sort of infusion pump that administers medicine and other fluids in vivo rather than using an intravenous bag for diagnosis, therapy, or other patient care. For instance, in August 2022, Baxter International Inc., a US-based healthcare company that manufactures surgical and intravenous infusion pumps, stated that its new Novum IQ syringe infusion pump (SYR) with Dose IQ Safety Software had received FDA 510(k) approval. The Novum IQ SYR is equipped with Baxter's dosage IQ Safety Software, which is a web-based, customized drug library and dosage error reduction solution that assists physicians and hospitals by providing centralized access to medication library files to ensure pumps are up-to-date with the most recent drug and dosage information, integrating titration avoidance technology to provide extra infusion safety measures, increasing the accessibility and efficiency of information technology infrastructure, and providing scalability as medical systems and technology grow.
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Major Key Players of the Market:
B. Braun Melsungen AG; Baxter International Inc.; Medtronic plc; Fresenius Kabi AG; Smiths Medical Inc.; Becton Dickinson and Company (BD); Terumo Corporation; F. Hoffmann-La Roche Ltd.; ICU Medical Inc.; IRadimed Corporation; Mindray Medical International Limited; Zyno Medical LLC; Tandem Diabetes Care Inc.; Johnson & Johnson; Micrel Medical Devices SA; Boston Scientific Corporation; Pfizer Inc.; Q-Core Medical Ltd.; Moog Inc.; Roche Diagnostics International AG; Nipro Corporation; Animas Corporation; Ypsomed Holding AG; Valeritas Inc.; ZOLL Medical Corporation; Codan Medical A/S; Halyard Health Inc.; InfuSystem Holdings Inc.; Hospira Infusion Systems; CareFusion Corporation
Intravenous Infusion Pumps Market 2024 Key Insights:
• The intravenous infusion pumps market size is expected to grow to $8.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• Fueling Market Growth The Role Of Intravenous Infusion Pumps In Managing Rising Prevalence Of Bleeding Disorders
• Innovative Products And Advancements In The Intravenous Infusion Pump Market
• North America was the largest region in the intravenous infusion pumps market in 2023.
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