Dublin, Dec. 10, 2021 (GLOBE NEWSWIRE) -- The "Infusion Pump Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global infusion pump market is evaluated at US$ 7.871 billion for the year 2019 growing at a CAGR of 5.51% reaching the market size of US$11.456 billion by the year 2026.
Geographically North America is the largest market for infusion pumps, followed by Europe, Asia-Pacific, and Latin America. The rising prevalence of chronic diseases, increasing healthcare expenditure, and improving healthcare infrastructure are major growth drivers for the market.
The global infusion pumps market is primarily driven by the rising incidence of chronic diseases, such as cancer and others, coupled with the rising adoption of these devices, owing to broadening applications of infusion pumps. Currently, infusion pumps are widely used in chemotherapy, diabetes management, and many other applications. The rising prevalence of these diseases, worldwide, is creating ample opportunities for the market to grow.
In addition, technological advancements in device technology, and companies' efforts in innovating products to meet the safety and increase the adoption of devices are likely to fuel the market growth. Moreover, the market players in the global infusion pumps and accessories market are actively participating in new product launches against individual disease treatment procedures, geography expansions, and collaborations to improve their market share.
One such activity includes the launch of D-mine, a wearable micro-infusion pump, used for the continuous subcutaneous administration of drugs to treat Parkinson's disease, by EVER Pharma in July 2019. Currently, there are several various types of infusion pumps available; one of them, which has gained huge popularity for continuous subcutaneous insulin infusion, is the insulin infusion pump.
The exponential rise in the number of chronic diseases and their corresponding cases has been a significant driver of the market over the years.
The market witnessed exponential growth during the year 2020 owing to the COVID-19 pandemic. In May 2020, United States Food and Drug Administration (US FDA) issued an umbrella emergency use authorization (EUA) for infusion pumps and infusion pump accessories for use by healthcare providers to treat conditions caused by the Coronavirus Disease 2019 for the controlled infusion of medications, total parenteral nutrition, and other fluid requirements.
The US FDA has issued EUAs that have increased the availability of infusion pumps and infusion pump accessories, which are an integral part of the patient treatment during the COVID-19 pandemic. This guideline had a positive impact on the growth of the market in the recent past and is expected to propel at higher growth rates even in the future.
Company Profiles
- Baxter International Inc.
- Becton, Dickinson and Company
- Braun Melsungen AG
- Johnson & Johnson
- Medtronic Inc.
- Nipro Corporation
- Option Care Health Inc.
- Pfizer Inc.
- Smiths Medical
- Terumo Corporation
Market Segmentation
By Type
- Insulin Pump
- PCA Pump
- Enteral Pump
By Mechanism
- Syringe Pump
- Elastomeric pump
- Peristaltic pump
- Multi-channel pump
- Smart Pump
By Application
- Chemotherapy
- Gastroenterology
- Diabetes
- Pain management
- Haematology
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- UK
- Middle East & Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/712tdv
