Infusion Pump Market: Estimated Growth Curve, Trends, Size, Share, and Analysis Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Infusion Pump Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The infusion pump market size has grown strongly in recent years. It will grow from $14.01 billion in 2023 to $15.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to aging population, chronic diseases, hospitalization trends, surgical procedures, advancements in healthcare..

The infusion pump market size is expected to see strong growth in the next few years. It will grow to $20.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to home healthcare trends, rise in ambulatory care centers, global health challenges, technological integration, patient empowerment.. Major trends in the forecast period include development of wearable infusion devices, expansion of ambulatory infusion centers, customization for pediatric and geriatric patients, focus on cost-effectiveness and efficiency, integration of artificial intelligence in infusion systems..

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Market Drivers and Trends:

The rise in the prevalence of chronic diseases is expected to propel the growth of the infusion pump market going forward. Chronic diseases refer to noncommunicable diseases (NCDs), which are long-term health conditions and often progress slowly over an extended period. The rise in the prevalence of chronic diseases, such as cancer and diabetes, is mostly driven by changing lifestyles, lack of physical activities, decreasing quality of life, and poor eating habits. Infusion pumps are used to treat some of these chronic diseases by providing accurate dosing, precise fluid delivery, and customized treatments. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Also, the International Diabetes Federation, an organization of over 230 national diabetes associations in more than 160 countries and territories, projected that, there would be 643 million diabetics worldwide by 2030 and 783 million by 2045. Therefore, a rise in the prevalence of chronic diseases will fuel the infusion pump market growth.

Technological advancement has emerged as a key trend gaining popularity in the infusion pump market. Major companies operating in the infusion pump market are focused on developing new technological solutions to strengthen their position. For instance, in November 2022, US-based medical device company Medtronic launched the world's first and only insulin pump infusion set, MiniMed Quick-set Plus. It was uniquely developed with cutting-edge components that aid in lowering insulin preservative loss and maintaining insulin flow and stability to extend an infusion set's wear time by two times. It is the first and only infusion set that is approved by FDA, and it is designed to provide a more convenient and comfortable experience for diabetes patients.

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Major Key Players of the Market:

Becton, Dickinson and Company; Baxter International Inc.; B. Braun Melsungen AG; ICU Medical Inc.; Fresenius Kabi AG; Smiths Medical Inc.; Medtronic plc; Moog Inc.; Terumo Corporation; Insulet Corporation; Boston Scientific Corporation; Tandem Diabetes Care Inc.; InfuTronix Solutions LLC; Micrel Medical Devices SA; Shenzhen Mindray Bio-Medical Electronics Co. Ltd.; Pfizer Inc.; Johnson & Johnson Services Inc.; Roche Diagnostics Corporation; Siemens Healthineers AG; Mindray Medical International Limited; Ambu A/S; AngioDynamics Inc.; Caesarea Medical Electronics Ltd.; Owens & Minor Inc.; Hospitech Respiration Ltd.; IRadimed Corporation; Ivenix Inc.; Sooil Development Co. Ltd.; ZOLL Medical Corporation; Zyno Medical LLC

Infusion Pump Market 2024 Key Insights:

• The infusion pump market will grow to $20.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Rising Prevalence Of Chronic Diseases To Drive Market Growth
• Technological Advancements Driving Innovation In Infusion Pump Market
• North America was the largest region in the infusion pump market in 2023

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