Infusion pumps market to surpass USD 9 billion by the end of 2024

According to Lead research analyst at Goldstein Research, “Global infusion pumps market is anticipated to project a promising CAGR of 5.9% during the forecast period 2016-2024. Increasing prevalence of chronic disease along with rising geriatric population is the major factors fuelling the growth of infusion pumps market across the globe. However, in the past 4-5 years 56,000 adverse infusion pumps events were reported. Compliance related to the product design is the major challenge faced by major market players. Moreover, in developing countries the demand for infusion pumps are growing as the expenditures over healthcare sector is increasing and the adoption of speciality infusion pumps are also growing, offering significant growth opportunities for infusion pumps market. However, strict government regulations associated with the design of infusion pumps may hinder the growth of infusion pumps market during forecast period. Our market study on infusion pumps encompasses detailed overview of the current market scenario along with the market numbers and future demand analysis.
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Global infusion pumps market is segmented based on product, application and end-users. Product segment is further categorized into ambulatory infusion pumps, implantable infusion pumps, syringe pumps, volumetric pumps and infusion disposable sets. Among these segments of products, volumetric segment accounted for the highest revenue share with over 22%, despite witnessing slight decline in growth rate. Ambulatory pump will emerge as the second largest segment accounting for nearly 17.5% share by 2024. Global infusion pumps market valued USD 7.2 billion in 2016 and is projected to expand at a CAGR of 5.9% over the forecast period i.e. 2016-2024.
Geographically, North America region dominates the global market in terms of revenue share followed by Asia Pacific region. The expansion of infusion pump market in North America region can be attributed towards rising adoption of insulin pumps and growing healthcare services such as clinics and infusion centers. Middle East region currently accounts for more than 12% revenue share in overall infusion pumps market. In 2015, UAE spend more than USD 10.2 billion over healthcare sector and the healthcare in gulf countries is expected to grow at a CAGR of 11.3 % over the forecast period, which will encourage the infusion pump manufacturers to invest in these countries.
Moreover, increasing investment in the R&D of wearable insulin pumps is providing vast business opportunities for manufacturers. For instance, US FDA approved a wearable infusion device called the Pushtronix system to deliver 420 mg monthly dose. Pushtronix is based on the smart dose technology platform of West Pharmaceutical Services. The device is available in US since August 2016 and gaining enough popularity in healthcare sector.
“Global Infusion Pumps Market Outlook 2024” contains detailed overview of the global infusion pumps market in terms of market segmentation by components, by software, by end-user and by application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global infusion pumps market report also provides competitive outlook of some of the major players of global infusion pumps market which includes profiling of companies such as Medtronic Plc., Pfizer (Hospira) Inc., Johnson & Johnson Private Ltd., Braun Melsungen AG., Smiths Medical, CareFusion Corporation, Fresenius Kabi AG, MOOG Inc., Terumo Corporation, Becton, Dickinson and Co., B. Braun Melsungen AG, F. Hoffmann-la Roche Ltd., etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global infusion pumps market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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