The infusion pump market size to reach USD 11 billion by 2025, growing at a CAGR of 8% during the forecast period. The global infusion pump market is one of the fastest-growing segments in the medical device market. The market is growing at a significant rate, which can be attributed to the prevalence of lifestyle-related diseases such as diabetics, increased surgery volumes, the anesthetic usage in pain management, pediatric neonate nutritional supply, and the rise in cancer patients. The demand for infusion pump has increased phenomenally due to the outbreak of COVID-19. With the increase in the number of infections across the world, hospitals are facing a shortage of infusion pump to treat COVID-19 patients using nebulization support. Therefore, governments are ordering thousands of infusion pump from manufacturers. With the sudden surge in demand for infusion pump, both global and domestic players are ramping up their production capabilities to meet the rising demand, thereby increasing growth prospects.
- The insulin pump segment is expected to observe an incremental growth of over $1.2 billion by 2025 on account of the increasing growth in the diabetic population.
- The specialty segment is likely to grow at the highest CAGR of over 8% during the forecast period 2019–2025 due to the widespread popularity of highly innovative specialty pumps.
- The home healthcare setting segment is projected to reach an incremental growth of $1.4 billion by 2025 because of the growth in chronic diseases and the shift from hospitals to home healthcare settings.
- The APAC region is likely to grow at the highest CAGR of over 11% during the period 2019–2025 due to the presence of chronic respiratory disease burden and high prevalence of terminal and critical diseases.
INFUSION PUMPS MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY PRODUCT
In 2019, the volumetric infusion segment accounted for a share of 28%. They are used to provide safe and accurate delivery of intravenous fluid products to patients. The transfusion of a large number of body fluids and electrolytes can only be administered by a volumetric infusion pump; therefore, they are witnessing high application, especially in small and medium-sized hospitals.
A wide range of applications in the healthcare and non-healthcare segments drives the demand for syringe pumps. The main advantage is the high precision when dispensing small volumes and more flexible dispensing capacity, easier and smaller pulsations. The number of syringe pumps used in general cardiovascular and anesthesia departments is higher than other models, hence their contribution is high.
Approximately 463 million adults across the world are living with diabetes in 2019, and this count is expected to grow to 700 million by 2045. Among 79% of adults with diabetes are in low and middle-income countries. With the increasing awareness of insulin pump therapy, patients are shifting toward insulin pumps over conventional diabetes management treatment options. The usage is witnessed higher among younger diabetes patients than elderly people that are more inclined toward self-injection practices.
INSIGHTS BY TECHNOLOGY
The specialty segment dominated the global infusion pump market and accounted for the largest market shares of 41%. Insulin pumps, enteral feeding, and implantable infusion pump are considered specialty infusion pump. The dominant share of this segment can be attributed to the increasing prevalence and incidence of non-communicable diseases such as diabetes, increase surgery volume, which demands the infusion transfer of medicine, the increase in people suffering from liver cancers, the usage of enteral pumps in neonates born with multiple complications. All these factors are contributing to higher demand in the market.
Traditional pumps include a syringe, volumetric, and PCA. They are used in medical settings such as mobile, home, and long-term care settings. They are usable in both stationary and mobile environments to administer pain medication, antibiotics, chemotherapy medication, and hydrating fluids. Compared to specialty pumps, the medication error is higher in the traditional ones. This is one of the factors, which is limiting the adoption in the market. Although they are widely used in hospital settings, limited scope for innovations and a slow reduction in the target population are expected to decline their market share during the forecast period.
INSIGHTS BY USAGE
The demand for stationary pumps is increasing as they are widely applied in clinical emergency care settings in hospitals. Large volumes are widely used for saline solutions, antibiotics, nutrition transfer to the patient, and small volumes are used for hormones, insulin, and powerful narcotic administration in small doses to patients. The growing number of home patients receiving medical care for chronic conditions has increased, hence the usage of stationary equipment in homecare settings fuels the demand for the infusion pump.
In 2019, the ambulatory infusion pump market accounted for a share of 37%. The application of ambulatory insulin pump has improved due to the increase in the usage of the infusion pump in the home healthcare settings.
INSIGHTS BY APPLICATION
The rise in several types of cancers across the globe is one of the primary reasons for the growth of malnutrition cases, which, in turn, are propelling the usage of enteral feeding devices and syringe pumps to administer medications to patients. The high prevalence of the diabetic population in developed and developing regions is majorly contributing to the surge of insulin pumps across the globe.
INSIGHTS BY END-USERS
Healthcare professionals in hospitals use an infusion pump to deliver medications to the patient’s body in a controlled manner. The increase in the number of patients admitted to ICUs and the rise in chronic diseases are the major factors increasing the market share of the hospital segment. The availability of skilled healthcare professionals with high knowledge and expertise in the infusion pump technology has attracted patients to hospitals than other healthcare providers, thereby the segment growth.
The home healthcare setting segment is growing at a faster rate and is likely to capture infusion pump market share in the future with the increased adoption of home healthcare services in developed countries. The slow shift of healthcare facilities from hospitals to home care settings is the major factor for the growth of the segment. Home healthcare nurses are greatly affecting the management of adverse effects of chemotherapy at home, increasing the quality of life, and improving patient outcomes.
INSIGHTS BY GEOGRAPHY
North America is leading the global infusion pump market. The US and Canada markets include a share of 92% and 8%, respectively, in North America in 2019. In the US, a high percentage of people suffering from liver cancers have been reinforcing the demand for the infusion pump.
The region is witnessing a steady growth of infusion pump due to the growing geriatric population and the increasing prevalence of several lifestyle-related diseases. However, one of the important reasons for the dominance of North America in the global market is infusion pump are covered by insurance companies. This factor is positively affecting the market growth.
INSIGHTS BY VENDORS
The global infusion pump market share is fragmented by the presence of several global, regional, and domestic vendors. B. Braun Melsungen, Baxter International, BD, Fresenius Kabi, ICU Medical, Medtronic, and Smiths Medical are the infusion pump market leaders. Most key vendors are focused on developing and commercializing infusion pump catering to several requirements of end-users. They have also increased their R&D investment to develop new product launches and streamline and improve error-free equipment. Hence, the market is witnessing the development of a highly advanced and innovative infusion pump, especially insulin infusion pumps.
The global infusion pump market analysis report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Product
- Large-volume Infusion Pumps
- Enteral Feeding Pumps
- Pediatrics & Neonatology
- Pain Management
- Home Care Settings
- Nursing Homes
- North America
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia