Infusion Pump Market Growth Driven By Changing Lifestyle and Increasing Aging Population
Rise paves the path for other health issues that include joint and tissue damage, heart diseases, diabetes, and cancer.
PUNE, MAHARASHTRA, INDIA, November 8, 2022 /EINPresswire.com/ — According to the “Global Infusion Pump Market report” published by Maximize Market Research, the market is expected to grow from USD 9.12 billion in 2021 to USD 17.91 billion in 2029, at a CAGR of 8.8 percent forecast period from 2022 to 2029.
Infusion Pump Market Scope and Research Methodology
In this report, Global Infusion Pump Market’s analysis was conducted meticulously to present a dynamic picture of the market. The report provides current and future trends prevailing in the market with estimations about the future stance of the market. Growth rate along with its fluctuations are presented in the report for a clearer understanding of the market scenario. A detailed analysis of the competitive landscape of the Global Infusion Pump Market is presented by listing out all the major competitors in the market along with new entrants at local, regional, and global levels. A thorough study of their company profile by goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence was carried out by the analysts, carefully drawing out their business strategies. Segment-wise analysis of the Global Infusion Pump Market by type, application, and end-user is conducted. Thus the report on the Global Infusion Pump Market acts as a guide for investors, market players, followers, and new entrants to devise investment and business strategies.
For data collection, primary and secondary research methods are employed by analysts taking into account the nature of the market for efficient and accurate data. Primary data was gathered through various methods such as surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organizations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. The report thus provides a comprehensive analysis of the Infusion Pump Market to get a clear picture of the market.
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Infusion Pump Market Overview
Infusion pumps are medical devices that are used to administer fluids in the patient’s circulatory system. The dosage is administered by a skilled person who operates the infusion pump with the help of an in-built software interface. Their use over the years has grown due to the advantages offered by the device such as delivering fluids at precise durations and decided volumes. The usage of these infusion pumps has been increasing with advancements in the Global Infusion Pump Market.
Infusion Pump Market Dynamics
The incidence of surgical operations has increased due to changing lifestyles and the rise of the ageing population. A change towards a modern lifestyle has resulted in obesity and several other disorders. This rise paves the path for other health issues that include joint and tissue damage, heart diseases, diabetes and cancer. These factors are expected to drive the Global Infusion Pump Market growth for the forecast period.
The main purpose of Infusion Pumps is their ability to deliver fluids in small doses. Its applications are seen mainly in chemotherapy, gastroenterology, analgesia/pain management and diabetes. The steep increase in chronic diseases has boosted the demand for Global Infusion Pump Market. This is especially true for people with diabetes since they require user-friendly pumps. Insulin pumps are gaining popularity given the need for continuous drug administration.
Regulations for the production of new infusion pumps have become stringent. Several rules and regulations have been laid down that need to be followed to ensure patient’s health and safety. This is expected to be a hurdle for new entrants in the market and the growth of the Global Infusion Pump Market.
Advancements in the Global Infusion Pump Market are expected to expose people to new opportunities. With the Global Infusion Pump Market gaining popularity, its applications have been on the rise. Speciality infusion pumps include patient-controlled analgesia (PCA) pumps, enteral pumps, insulin pumps, and others. Their use considerably reduces the rate of medication errors. Such developments in the market are expected to result in Global Infusion Pump Market growth.
Infusion Pump Market Regional Insights
North America dominated the Global Infusion Pump Regional Market in 2021. This growing streak is expected to be continued at a CAGR of 8.5 percent. This rise is attributed to the region-changing lifestyle leaning more toward unhealthy habits resulting in obesity and chronic illnesses. This requires the advancement in the Infusion Pump Market to meet the growing demand of patients in the region. Among chronic illnesses, diabetes demands high-end infusion pumps along with boosting innovation in the field.
In the Asia-Pacific region, growth is expected to witness growth at a CAGR of 8.2% for the forecast period. The increasing population is resulting in an increased burden of chronic diseases like diabetes and cancer. Countries such as Thailand, India, Singapore and South Korea in the region are driving growth in medical tourism due to inexpensive treatment and surgery costs. Improvement in health infrastructure in emerging economies like China and India is also driving the growth in the Infusion Pump Market.
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Infusion Pump Market Segmentation
By Product Type:
Volumetric Pumps
Syringe Pumps
Elastomeric Pumps
Insulin Pumps
Enteral Pumps
Implantable Pumps
Patient Control Analgesia (PCA) Pumps
By Application:
Chemotherapy/Oncology
Diabetes Management
Gastroenterology
Pain Management Analgesia
Paediatrics/ Neonatology
Haematology
Other Applications
By End-User:
Hospitals
Home Care Settings
Ambulatory Care Settings
Academic and Research Institutes
Infusion Pump Market Key Competitors:
Becton, Dickinson, and Company (US)
Baxter International (US)
B. Braun (Germany)
ICU Medical (US)
Fresenius Kabi (Germany)
Smiths Medical (US)
Medtronic PLC (Ireland)
Moog Inc. (US)
Avanos Medical, Inc. (US)
Nipro Corporation (Japan)
Terumo Corporation (Japan)
Insulet Corporation (US)
Ypsomed Holding AG (Switzerland)
Tandem Diabetes Care (US)
JMS Co., Ltd. (Japan)
Micrel Medical Devices SA (Greece),
InfuTronix Solutions LLC (US)
Zyno Medical LLC (US)
Roche Diagnostics (Switzerland)
Teleflex, Inc. (US)
Mindray Medical International Limited (China)
Epic Medical (Singapore)
SOOIL Development Co., Ltd. (South Korea)
Shenzhen MedRena Biotech Co., Ltd. (China)
CODAN Medizinische Geräte GmbH & Co KG (Germany)
Key questions answered in the Global Infusion Pump Market are:
What is Global Infusion Pump?
What is the growth rate of Global Infusion Pump Market for the next five years?
What is the nature of competition in Global Infusion Pump industry in developed and developing economies?
Who are the key players in the Global Infusion Pump Market?
Who are the market leaders in Global Infusion Pump in Europe?
Who are the market leaders in Global Infusion Pump in USA and Canada?
Who are the market leaders in Global Infusion Pump in India, China, Japan and South Korea?
What are the factors affecting growth in the Global Infusion Pump Market?
Who held the largest market share in Global Infusion Pump Market?
What are the factors for the growth of Asia-Pacific region in Global Infusion Pump Market?
Key Offerings:
Market Share, Size & Forecast by Revenue | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading medical devices research firm, has also published the following reports:
Breast Pump Market -The Breast Pump Market size is expected to reach USD 5.58 billion by 2029 at a CAGR of 10.5 percent during the forecast period. The Breast Pump Market is expected to be driven by the global increase in the number of human milk banks, high birth rates and advancement in medical technology.
Infusion Pump Software Market-The Infusion Pump Software Market size is expected to reach USD 1.3 billion by 2029 at a CAGR of 8 percent during the forecast period. The Infusion Pump Software Market is expected to be driven by an increase in demand for advanced infusion pump software, incidence of chronic diseases on the rise and growing demand for ambulatory pumps.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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