Dublin, Nov. 03, 2021 (GLOBE NEWSWIRE) -- The "Intravenous Infusion Pump Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global intravenous infusion pump market was valued at $4,154.30 million in 2020, and is estimated to reach $8,147.20 million by 2030, growing at a CAGR of 7.10% from 2021 to 2030.
Infusion pump is a medical device that delivers fluids such as nutrients and medications into a patient's body in controlled amounts. Infusion pumps are increasingly used in clinical settings such as hospitals, nursing homes, and in home.
In general, an infusion pump is operated by a trained user who programs the rate and duration of fluid delivery through a built-in software interface. Infusion pumps offer significant advantages over manual administration of fluids, including the ability to deliver fluids in small volumes and the ability to deliver fluids at precisely programmed rates or automated intervals. Furthermore, infusion pumps can deliver nutrients or medications, such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers.
Chronic diseases are the major cause of disability and deaths across the globe, and 80% of deaths due to chronic diseases occur in low- and middle-income countries. In addition, chronic diseases include cardiovascular diseases, stroke, cancer, chronic respiratory diseases, and diabetes, wherein cardiovascular disease is the major cause of deaths globally, according to WHO. The prevalence of cancer has increased drastically, raising the global burden to 19.3 million cases in 2020, as stated by the NCBI. Such diseases have become a major public health concern and need a quick and regulated mode of treatment. Rise in incidence of diseases such as cardiovascular and cancer has led to an increase in demand for intravenous infusion pump devices.
The possibility of medication errors exists due to increase in disease burden. Thus, there is a need for advanced delivery systems that are more safe, efficient, and standardized. Furthermore, the introduction of smart intravenous infusion pumps or next-generation intravenous pumps is imparting lucrative growth opportunities for the market. Smart pumps are intelligent intravenous infusion devices that are embedded with a computer software system aimed at decreasing drug dosing errors through the presence of drug libraries ensuring safe medication administration.
The applications of these intravenous pumps in intermittent therapy for delivery of antibiotics or continuous infusion therapy for the delivery of chemotherapeutic medications are prominent. According to NCBI, the use of ambulatory pumps is common and will continue to grow annually. Factors such as surge in geriatric population, rise in prevalence of chronic diseases, and low cost are likely to propel the market. Moreover, rise in the number of individuals undergoing surgeries globally for cosmetic, cancer, cardiovascular, or other ailments is likely to have a positive impact on the market growth.
Infusion pumps and ventilators can be considered critical devices, as these devices are used in ICUs, CCUs, and emergency departments. IV infusion is a common need in COVID wards. Infusion pumps are used in hospitals and other emergency centers to control and deliver doses of medication, and because they can be set to do this without constant supervision, they allow doctors and nurses to treat patients with minimal exposure to infection. Hence, the demand for infusion pumps grew significantly in 2020. This made the supply and distribution of infusion pumps a major challenge
Owing to increase in spending on long-term care, the preference for homecare settings has been rising substantially. Ambulatory infusion pumps in homecare settings are more in demand due to rise in expenditure majorly on hospitalization and increase in prevalence of chronic diseases. Increase in the rate of adopting ambulatory infusion pumps and rise in need to reduce hospital stays are critical factors for surge in demand for ambulatory infusion pumps in homecare settings
The global Intravenous infusion pump market is segmented into type, application, end user and region. By type, the market is categorized into volumetric infusion pumps, syringe infusion pumps & patient controlled analgesia infusion pumps. On the basis of application, it is divided into oncology, parenteral nutrition, analgesia/pain management, and others. Depending on end user, it is categorized into hospitals & clinics, home healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global Intravenous infusion pump market are F. Hoffmann-La Roche Ltd., Fresenius SE & Co. KGaA, B. Braun Holding GmbH & Co. KG, Becton, Dickinson and Company, Baxter International, Inc., Terumo Corporation, Medtronic, Smith Medical, ICU Medical, Inc., and Tandem Diabetes Care, Inc.
Key Benefits
- This report provides an extensive analysis of the current trends and future estimations and dynamics in the global intravenous infusion pump market to identify the prevailing opportunities.
- This study presents the competitive landscape of the global market to predict the competitive environment across geographies.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Region- & country-wise analysis is provided to understand the market trends and dynamics.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter's five forces analysis
3.3.1. Top player positioning
3.4. Market dynamics
3.4.1. Drivers, restraints, and opportunity
3.4.2. Drivers
3.4.2.1. Increasing prevalence of chronic diseases and rising demand for ambulatory infusion pumps in home care settings
3.4.2.2. Technological advancements leading to products with improved features
3.4.2.3. Rising demand for ambulatory infusion pumps in homecare settings
3.4.3. Restraints
3.4.3.1. Product recalls
3.4.4. Opportunity
3.4.4.1. Emerging economies to offer growth opportunities
3.5. Impact of COVID-19 on intravenous infusion pump market
3.5.1. Overview
3.5.2. Impact analysis
CHAPTER 4: INTRAVENOUS INFUSION PUMP MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Volumetric Infusion Pumps
4.2.1. Key market trends and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Syringe Infusion Pumps
4.3.1. Key market trends and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.4. Patient Controlled Analgesia Infusion Pumps
4.4.1. Key market trends and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis, by country
CHAPTER 5: INTRAVENOUS INFUSION PUMP MARKET, BY APPLICATION
5.1. Overview
5.1.1. Market size and forecast
5.2. Oncology
5.2.1. Market size and forecast, by region
5.2.2. Market analysis, by country
5.3. Parenteral Nutrition
5.3.1. Market size and forecast, by region
5.3.2. Market analysis, by country
5.4. Analgesia/Pain Management
5.4.1. Market size and forecast, by region
5.4.2. Market analysis, by country
5.5. Others
5.5.1. Market size and forecast, by region
5.5.2. Market analysis, by country
CHAPTER 6: INTRAVENOUS INFUSION PUMP MARKET, BY END USER
6.1. Overview
6.1.1. Market size and forecast
6.2. Hospitals & Clinics
6.2.1. Market size and forecast, by region
6.2.2. Market analysis, by country
6.3. Home Healthcare
6.3.1. Market size and forecast, by region
6.3.2. Market analysis, by country
6.4. Others
6.4.1. Market size and forecast, by region
6.4.2. Market analysis, by country
CHAPTER 7: INTRAVENOUS INFUSION PUMP MARKET, BY REGION
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