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HEALTHCARE & PHARMACEUTICAL

Infusion Pump Market Analysis by Pump Type (Ambulatory, Enteral, Implantable, Insulin, Volumetric, PCA, and Others); by Type (Stationary, and Portable Pumps); by Technology (Specialty, and Tradition); by End-User (Home Care Facility, Research Centers, Hospitals, and Others); and by Application (Oncology, Hematology, Analgesia, Neonatology, Gastroenterology, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • 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.   

Global Infusion Pump Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~8%

Base Year Market Size (2022)

~ USD 13 Billion

Forecast Year Market Size (2033)

~ USD 27 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global infusion pump market is estimated to garner a revenue of ~USD 27 Billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 13 Billion in the year 2022. The growth of the market is primarily attributed to the higher prevalence of cancer across the globe. 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 along with the advancement of drug delivery technologies are further factors which are boosting the market growth over the forecast period.

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Global infusion pump 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.

Global Infusion Pump Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Cases of Diabetes - As of 2018, approximately 1.4 new cases of diabetes were diagnosed in US adults aged 18 or above resulting in nearly 7 per 1000 individuals. Diabetes is a condition in which the human body doesn’t produce an adequate amount of insulin or can’t utilize it resulting in too much storage of blood sugar in the bloodstream. Diabetes can be very discomforting to live with and can also be life-threatening. In such conditions, infusion pumps are utilized to release recommended doses of insulin to control the increment of blood sugar after the meal.

  • Growing Number of People in the Need of Pain Management – For instance, it is observed that nearly 3.5 million suffer from chronic daily migraines, meanwhile, approximately 75% of the adults in the United States are reported to be living with severe back pain.

  • Booming Penetration of Hemophilia Across the Globe - The number of people estimated to be living with hemophilia worldwide is around 200 thousand while hemophilia A affected around 150 thousand people in 2019.

  • Skyrocketing Demand for Infusion Pumps in Neonatology – For instance, it is estimated that nearly 6500 newborn babies die each day summing up to 45% of death of children aged under 5 years.

  • Significant Growth in the Global Health Expenditure - As per the data released by the World Bank, it was demonstrated that the worldwide health expenditure was reached around 9.83% of GDP in 2019.

Challenges

  • Booming Number of Medication Errors – Many times, medication errors such as miscalculations, unit errors, push- button mistake, and alarm error occur while using the infusion pumps. Hence, this factor is estimated to hinder the market growth over the projected time frame.

  • Lack of Requisite Technology such as, Wireless Connectivity

  • Requirement for Higher Initial Investment

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, the insulin segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising utilization of insulin infusion pumps by the 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, surge in the promising technological advancement in insulin pump field is also propelling the growth of the infusion pump market over the forecast period.

Global Infusion Pump Market Regional Synopsis

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 the rising adoption of ambulatory pumps, and the growing prevalence of diabetes 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.

Market Segmentation

Our in-depth analysis of the global infusion pump market includes the following segments:

           By Pump Type

  • Ambulatory
  • Enteral
  • Implantable
  • Insulin
  • Volumetric
  • PCA
  • Others

           By Type

  • Stationary
  • Portable Pumps

           By Technology

  • Specialty
  • Tradition

 

 

            By End-User

  • Home Care Facility
  • Research Centers
  • Hospitals
  • Others

           By Application

  • Oncology
  • Hematology
  • Analgesia
  • Neonatology
  • Gastroenterology
  • Others

Top Featured Companies Dominating the Global Infusion Pump Market

  • Becton, Dickinson and Company

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Baxter Healthcare Corporation
  • CODAN Medizinische Gerate GmbH & Co KG
  • Shenzhen MedRena Biotech Co., Ltd.
  • B. Braun SE
  • ICU Medical, Inc.
  • Terumo Corporation
  • Moog Inc.
  • Ypsomed Group
  • NIPRO Corporation

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