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Drug Infusion Systems Global Market Report 2024 Market Overview, Outlook, Size, Share, Demand 2024-2033 |
Drug Infusion Systems Global Market Report
According to The Business Research Company's, The drug infusion systems market size has grown strongly in recent years. It will grow from $12.8 billion in 2023 to $13.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to shift to electronic infusion devices, increased prevalence of chronic diseases, patient care advancements, home-based infusion therapy, expansion of ambulatory care settings.
The drug infusion systems market size is expected to see strong growth in the next few years. It will grow to $18.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to shift towards disposable systems, rising prevalence of chronic diseases, expansion of ambulatory care facilities, personalized medicine and adaptive dosing, increasing demand for home-based care. Major trends in the forecast period include wireless connectivity and remote monitoring, integration with electronic health records (ehr), smart pump technology, personalized and adaptive dosing, minimally invasive infusion techniques.
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Market Drivers and Trends:
The increasing prevalence of chronic diseases is expected to propel the growth of drug infusion system market going forward. Chronic diseases such as cancer, diabetes, cardiovascular disease, and autoimmune disorders often require long-term or continuous infusion therapy. Drug infusion systems offer a safe, efficient, and effective way to administer medication to patients with these conditions. Compared to high-income countries, prevalence has been increasing more quickly in low- and middle-income nations. Diabetes is a leading factor in renal failure, heart attacks, strokes, blindness, and lower limb amputation. According to the International Diabetes Federation (IDF), in 2021, 537 million adults aged in between 20-79 are living with diabetes (1 in 10 are suffering with diabetes) and this number is expected to reach about 643 million by 2030 and 783 million by 2045. Therefore, rise in demand increasing prevalence of chronic diseases drives the growth of the drug infusion system market.
Advanced drug delivery technologies are the key trend gaining popularity in the drug infusion systems market. Major companies involved in the drug infusion systems market are focused on innovating new products through advanced technologies to sustain their position in the market. For instance, in June 2021, Ivenix, a US-based medical device company, launched a new smart infusion system integrated with an advanced informatics platform. Ivenix's infusion therapy system incorporates new pump technology that automates secondary infusions, ensuring patients receive the complete prescribed therapy. The system also includes a state-of-the-art informatics platform that allows secure access to patient-specific infusion and pump management from any computer or mobile device. It integrates with ADT interfacing, alarm notification systems, charge capture solutions, and electronic medical records (EMR) for seamless workflow integration.
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Major Key Players of the Market:
Medtronic plc; Baxter International Inc.; ICU Medical Inc.; Becton Dickinson and Company; Smiths Group plc; Tandem Diabetes Care Inc.; Terumo Corporation; Acromed AG; Halyard Health Inc.; Insulet Corporation; Zyno Medical Inc.; Braun Melsungen AG; Flowonix Medical Inc.; IRadimed Corporation; Moog Inc.; Debiotech S.A.; Fresenius SE & Co. KGaA; Johnson & Johnson; Hospira; Alaris Health Systems Inc.; B. Braun Melsungen AG; Disetronic Medical Systems AG; Accu-Chek; Abbott Diabetes Care Inc.; Novo Nordisk A/S; Eli Lilly and Company; Sanofi-Aventis; Ypsomed Holding AG; Valeritas Inc.; Proteus Digital Health Inc.; Pear Therapeutics Inc.; Huma Inc.
Drug Infusion Systems Market 2024 Key Insights:
• The drug infusion systems market will grow to $18.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Surge In Chronic Diseases Propels Growth In Drug Infusion System Market
• Pioneering Drug Delivery Technologies In The Infusion Systems Market
• North America was the largest region in the drug infusion systems market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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