The infusion pump is a device designed to infuse drugs, instil intravenous fluids at low doses at a constant and controllable rate. It is used to deliver nutrients or medication to a patient body. Medication such as insulin, antibiotics, chemotherapy drugs and pain relievers are given with the help of insulin pump. Therefore, it is easy to use and is cost-effective and reliable. They produce quite high but controlled pressure which helps to inject a controlled amount of fluids beneath the skin or through the epidural. Rising awareness about the advanced healthcare solution devices for better treatment of patients has given a positive impact towards the growth of the global infusion pump market over the forecast period of 2017- 2025.
The global infusion pump market is propelled by the increasing geriatric population and for the robust growth of infusion therapy popularity for treating diseases such as Crohn's disease, cancer, rheumatoid arthritis, and many more. Continuous technological evolution for the improvement of healthcare devices is an essential factor for making this market demanding during the forecast period. Moreover, investment in research and development sector related to infusion products and equipment which includes needleless connectors, valves and others for enhancing patient’s care is a prime factor augmenting the growth of the global infusion pump market. Furthermore, these pumps not only deliver controlled and precise dosage, while also, reduces the overall costs of operation. In addition to this, there are technologies which are composed to exert robust growth such as wireless pumps which includes Bar-Coded Medication Administration, dose- calculation & error reduction software. These technologies aid in ensuring that patients receive the required accurate medication. Additionally, smart insulin pumps merged with glucose monitors, and the flexible pump is one of the most major factors enhancing the growth of the infusion pump market in the near future.
The global infusion pump market in the report is segmented by product type which includes ambulatory infusion pumps, volumetric pumps, insulin infusion pumps, implantable infusion pumps, syringe pumps, and others. The ambulatory infusion pumps type is further sub-segmented by disposable and chemotherapy. Based on the application the market of the infusion pump is analyzed as diabetes, neonatology, gastroenterology, pain management, and other. Moreover, the global infusion pump has been geographically segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Rising number of healthcare infrastructure projects coupled with the adoption of advanced technology in Asia-Pacific, makes the region held the largest market share. Moreover, the evolution of next-generation smart pumps proficient for providing therapeutic treatments along with a low operation cost features are mainly driving the European and North America market. Furthermore, increasing investment in research and development for improving the healthcare solutionhas, therefore, increased the demand of infusion pump market in this regions. Moving forward, the rapid growth of healthcare industries and the growing incidence of chronic diseases in countries like Brazil and Chile, therefore, creates a high demand for medical solution devices in Latin-America region. Likewise, new medical solution projects and surging investment in the technological adoption by the key players fuel the growth of the infusion pump product and application in the Middle East and Africa region. Increasing demand for safety healthcare systems in hospitals & diagnostics sector is expected to garnish the market growth during the estimated period.
However, high treatment cost and lack of awareness among the patient’s may impose a restriction on the growth of the global infusion pump market.
Some of the major players in the global infusion pump include Animas Corporation, Baxter International Inc., B. Braun Melsungen AG, Fresenius Kabi AG, ICU Medical, Medtronic, Nipro Corporation, Smiths Medical, and Terumo Corporation.
Global Infusion Pump Market: By Product Type
Global Infusion Pump Market: By Application
Global Infusion Pump Market: By Geography