Infusion Pump Market size is expected to cross USD 27 Billion by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of infusion pump was USD 13 Billion. The growth of the market is primarily attributed to the higher prevalence of cancer across the globe. The World Health Organization (WHO) published a report stating that in 2020 almost 10 million people died on account of cancer, making the disease the leading cause of death worldwide. Besides this, the increasing ratio of chronic diseases such as neurological disorders and diabetes along with the advancement of drug delivery technologies are further factors that are boosting the market growth over the forecast period.
The global infusion pumps market trends such as the growing prevalence of kidney and other stomach-related diseases and ongoing advancements in medical technologies are projected to influence the growth of the market positively over the forecast period. It is observed that around 12% of the global population is living with chronic kidney disease (CDK) and around 1 million people die every year due to these diseases across the globe. Moreover, mounting spending on medicine R&D and significantly emerging demand for infusion pumps in home care facilities are further expected to flourish the growth of the market during the forecast period. For instance, as of 2021, around 0.04 million home care providers were functioning in the United States. Therefore, such factors are anticipated to hike the growth of the market over the forecast period. Also, the rising geriatric population which needs long-term care therapies, and the high focus of leading market players on on-site care management for specialty medicines is anticipated to impetus a significant revenue generation. Furthermore, the increase in the number of surgical procedures performed across the globe, growing cases of medication errors, and high demand for ambulatory infusion pumps are other factors that are anticipated to boost the growth of the global infusion pump market.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
8% |
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Base Year Market Size (2022) |
USD 13 Billion |
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Forecast Year Market Size (2033) |
USD 27 Billion |
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Regional Scope |
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Pump Type (Ambulatory, Enteral, Implantable, Insulin, Volumetric, PCA)
The global infusion pump market is segmented and analyzed for demand and supply by pump type into ambulatory, enteral, implantable, insulin, volumetric, PCA, and others, out of which, Over the forthcoming years, the insulin segment is expected to grow remarkably. The growth of the segment can be accounted to the rising utilization of insulin infusion pumps by people living with diabetes globally. For instance, in 2019, approximately 1 million people were anticipated to lose their lives due to diabetes across the globe. Moreover, the surge in the promising technological advancement in the insulin pump field is also propelling the growth of the infusion pump market over the forecast period.
End-user (Home Care Facility, Research Centers, Hospitals)
The global infusion pump market is also segmented and analyzed for demand and supply by end-user into home care facilities, research centers, hospitals, and others. Out of these three segments, the home care facility is anticipated to hold the largest share during the assessment period. The major factor that is attributed to segment growth is the rising adoption of ambulatory pumps and the high need for on-site care management. Another growth factor of the segment is expected to be the high costs associated with prolonged hospitalization which increases the preference for infusion pumps in home care settings. On the other hand, the hospital segment is also projected to garner a notable revenue generation by the end of the forecast period. The presence of a high number of hospitals around the globe along with advanced facilities for infusion pump installation and rising global healthcare expenditure are the major factors that are expected to fuel the adoption rate of the infusion pump in the future. According to the World Bank, in 2019, the global health expenditure reached USD 1,121.9 per capita. Furthermore, other factors that are anticipated to contribute positively to segment growth are the rising government support to develop hospital infrastructure and favorable policies associated with hospitals along with the rising patient pool visiting hospitals daily.
Our in-depth analysis of the global market includes the following segments:
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By Pump Type |
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By Type |
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By Technology |
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By End-User |
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By Application |
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North America Market Forecast
The North America infusion pump market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market is estimated to be the rising adoption of ambulatory pumps, and the growing prevalence of chronic diseases such as diabetes, cancer, and others owing to a significant change in lifestyle. For instance, nearly 36 million Americans were projected to be living with diabetes summing up to 10% of the entire population in 2019. Moreover, a significant surge in the premium-priced infusion pumps to improve the healthcare services quality and the presence of the major key players in the region is further expected to push the market growth over the forecast period. The rapid expansion of the healthcare industry along with the high adoption of ambulatory pumps and the high need for fast diagnosis and treatment is also anticipated to boost the preference for infusion pumps in the upcoming years. In addition, the region's expanding healthcare industry and rising awareness about the advantages offered by infusion pumps are also anticipated to boost the market growth during the forecast period.
Baxter Healthcare Corporation to acquire clearance for U.S. Food and Drug Administration (FDA) for its Novum IQ syringe infusion pump. The product comes with Dose IQ safety software, the latest developments for infusion therapy. Novum IQ SYR is attached to the Connectivity Suite of Baxter’s IQ Enterprise.
ICU Medical, Inc. to acquire recognition as top-performing Smart Pump EMR-Integrated by KLAS Research for its Plum 360. The award is offered based on the feedback of thousands of healthcare providers and a side-by-side comparison of IV smart pumps.
Author Credits: Radhika Gupta, Shivam Bhutani
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