Intravenous Infusion Pumps Market

Intravenous Infusion Pumps Market Outlook (2022 – 2032)

Newly-released Intravenous Infusion Pumps market analysis report by Persistence Market Research shows that global sales of the Intravenous Infusion Pumps Market in 2021 were held at US$ 5.2 Bn. With a CAGR of 9% during 2022 - 2032, the market is projected to reach a valuation of US$ 13.2 Bn.

The absolute dollar opportunity for Intravenous Infusion Pumps Market will be witnessing US$ 7.6 Bn overall growth because the demand for intravenous infusion pumps in healthcare facilities such as hospitals, and nursing homes have significantly increased.

Revenue of Intravenous Infusion Pumps Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Intravenous Infusion Pumps Market research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Intravenous Infusion Pumps Market increased at around 7.6% CAGR, wherein, North America held significant share in the global market.

The global rise in the prevalence of chronic diseases such as diabetes, cardiovascular disease, cancer, respiratory disease, and other autoimmune diseases is a key factor driving the market growth. During the forecast period, the demand is expected to be driven by an increase in the number of surgical and medical procedures performed. The WHO (World Health Organization) predicts that the global population of people aged 60 and up will reach 1.4 billion by 2030. The growing elderly population is also a key factor driving the Intravenous Infusion Pumps Market. As a result, the Intravenous Infusion Pumps market is expected to grow at a CAGR of 5.7% over the next ten years.

What will be the growth prospects of the Intravenous Infusion Pumps Market?

Chronic illnesses are the leading cause of disability and mortality worldwide, accounting for 80% of all deaths in low- and middle-income nations. Chronic illnesses include cardiovascular diseases, stroke, cancer, chronic respiratory diseases, and diabetes, with cardiovascular disease being the leading cause of mortality worldwide, according to the World Health Organization.

According to NCBI, the worldwide incidence of cancer has risen dramatically, with 18.1 million cases reported in 2018. Such illnesses have become a serious public health problem, necessitating rapid and controlled treatment. The rising prevalence of ailments such as cardiovascular disease and cancer has increased the demand for intravenous infusion pumps.

Because of the growing illness load, the danger of drug mistakes occurs. As a result, enhanced delivery methods that are safer, more efficient, and more standardized are required. The development of smart intravenous infusion pumps, also known as next-generation intravenous pumps, is increasing market growth potential. Smart pumps are used to administer intravenous solutions with computerized features that are intended to minimize drug dosage mistakes and ensure error-free medical care.

Which Region is projected to Offer the Largest Opportunity for Intravenous Infusion Pumps Market?

Intravenous Infusion Pumps Market revenue is expected to grow at the fastest rate in the Asia Pacific. A growing older population mixed with a growing middle class is likely to improve the demand for the intravenous infusion pumps market in the Asia Pacific in the approaching years. According to UNFPA research, the APAC region's aging population is expanding at an unprecedented rate and by 2050, one in every four individuals will be over 60, bringing the overall population to close to 1.3 billion.

Country-wise Analysis

Which Country Lies at the Centerstage for Intravenous Infusion Pumps market Revenue?

The United States dominated the global Intravenous Infusion Pumps Market and is expected to reach US$ 5.3 Bn by 2032. The reimbursement and technological advancement facilities are advantageous factors in the United States are some of the key factors propelling the demand.

The growing geriatric population is a key driver of market expansion in the country. According to US Census Bureau projections, the number of Americans aged 65 and above is expected to grow from 52 million in 2018 to nearly 95 million by 2060. Furthermore, the proportion of the population aged 65 and above is expected to rise from 16% to 23%.

Because of the increased prevalence of chronic illnesses, expanding geriatric population, and advantageous reimbursement policies in this area, North America is likely to have a significant market share in the intravenous infusion pumps market. Chronic illnesses account for more than 75% of all healthcare expenses in the United States, according to the Centers for Disease Control and Prevention and the National Center for Health Statistics.

The entire economic burden of US$ 1.3 Tn per year is anticipated to climb to 4.2 trillion in treatment costs and lost economic activity by 2023. Furthermore, the adoption of new technologically sophisticated products for the routine treatment of chronic medical conditions, knowledge of modern intravenous infusion pumps, and the presence of well-established healthcare infrastructure are all propelling growth.

Category-wise Insights

Which Intravenous Infusion Pumps Captures Highest Demand?

Insulin infusion pumps which account for over one-fifth of the demand are expected to grow at a 10.8% CAGR. According to the International Diabetes Federation (IDF), roughly 463 million persons worldwide have diabetes in 2019, with the figure expected to rise to 700 million by 2045. With the rising incidence of diabetes, equipment like insulin infusion pumps is becoming increasingly useful for those who self-administer insulin on a regular basis.

An insulin pump is a compact electronic device that delivers continuous brief insulin through a thin tube, eliminating the need for long-acting insulin. A continuous insulin infusion also eliminates the need for repeated daily injections.

Smart pumps enabled with error-prevention software and controlled IV medication are significantly used as these intravenous pumps are equipped with advanced features. The smart pumps provide drug libraries, which help with the storage of the actual volume of fluid given to the patient, and barcode scanning technology, which aids in verifying a patient's identity as well as avoiding medication administration errors.

Which Disease Indication has Highest Demand of Intravenous Infusion Pumps?

The pediatrics/neonatology category was the largest revenue contributor, followed by gastroenterology with over a quarter share throughout the analysis period. According to the NCBI, 85.3 million instances of digestive diseases were reported in 2017, with the figure likely to rise significantly in the future years. Colorectal cancer has been the prominent cause of mortality in the GI system, followed by pancreatic cancer and hepatobiliary neoplasms. The NCBI statistical research indicated that the disease is more widespread in females and is connected with risk factors such as poor nutrition, a high consumption of spicy and/or fermented foods, smoking, alcohol usage, and filthy living circumstances.

Neonatology is the medical specialty that deals with newborns, born prematurely, those with low birth weight, those with intrauterine growth restriction, those with congenital abnormalities (birth defects), those with sepsis, those with pulmonary hypoplasia, or those with birth asphyxia. According to the WHO, 15 million babies are delivered prematurely each year, making it the top cause of Newborn mortality worldwide. With practicable, cost-effective care and sufficient nutrition in the early phases following delivery, about three-quarters can decrease the number of newborns born preterm.

Competitive Analysis

Over the projected period, rising emphasis on innovations and investments among public and private entities is expected to strengthen competition in the market. The key vendors in the global Intravenous Infusion Pumps market are Baxter International, B. Braun Melsungen, AG Medtronic, Micrel Medical Devices, SA Boston Scientific Corporation, CareFusion Corporation, Fresenius Kabi, and Smiths Medical among others.

Some of the recent development in the Intravenous Infusion Pumps Market are:

• In April 2021, Medtronic announced the availability of its extended infusion set in several European countries. This infusion set may be worn for 7 days, allowing diabetic patients to continue intravenous infusion pump therapy with fewer insertions and interruptions.
• In August 2020, Mindray released a new generation infusion system called the BeneFusion n Series. It provides significant insights into patient safety, interoperability and data management, and operational simplicity, all of which contribute to the establishment of new standards in infusion treatment.

Market Segments Covered in Intravenous Infusion Pumps Industry Analysis

By Infusion Pumps Type

• Volumetric Infusion Pumps
• Insulin Infusion Pumps
• Syringe Infusion Pumps
• Enteral Infusion Pumps
• Ambulatory Infusion Pumps
• Patient-Controlled Analgesia Infusion Pumps
• Implantable Infusion Pumps
• Other Infusion Pumps Types

By Disease Indication

• Chemotherapy
• Diabetes
• Gastroenterology
• Analgesia/Pain Management
• Pediatrics /Neonatology
• Hematology
• Other Disease Indications

By Region

• North America
• Latin America
• Europe
• APAC
• MEA

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