WASHINGTON, March 21, 2022 (GLOBE NEWSWIRE) -- According to a new market research report " Infusion Pump Market Size, Share & Trends Analysis Report by Product Type (Accessories and Consumables, Devices), by Application (Chemotherapy/Oncology , Diabetes Management , Gastroenterology , Pain Management/ Analgesia ), by Setting (Hospitals, Home Care Settings , Ambulatory Care Settings , Academic and Research Institutes), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Infusion Pump Market is expected to grow from USD 13,141.50 Million in 2021 to USD 21,798.08 Million by 2028 at a CAGR of 8.80% during the forecast period.
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Market Synopsis-
An Infusion Pump Market is an external device used in the healthcare industry to deliver medicine and nutrients to a patient's body. Typically, Infusion Pump Markets are preferred for medical treatment of pain relievers, chemotherapy drugs, fluids, and insulin. It is considered as critical devices, as these devices are used in ICUs, CCUs, and emergency departments. IV infusion is a common need in COVID wards This is because patients taking this medication need precise and conditional doses which allow doctors and nurses to treat patients with minimal exposure to infection and without constant supervision. Portable Infusion Pump Markets are used for patients who require continuous infusion due to its portability and ease to taking along while traveling. Thus, portable Infusion Pump Market is more dominant than stationary Infusion Pump Market.
The demand for Infusion Pump Markets increased significantly in 2020, owing to the usage of Infusion Pump Markets in medications such as chemotherapy and diabetes to patients with chronic illnesses. This creates a major challenge in the supply and distribution of Infusion Pump Markets. Although some adverse events with Infusion Pump Markets may be the result of user error, many of the reported events are related to flaws in device design and software, which may hamper the target market growth to a certain extent.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Infusion Pump market is predicted to grow at a CAGR of roughly 8.80% during the forecast period.
- The Infusion Pump market was estimated to be worth roughly USD 13,141.50 Million in 2021 and is expected to reach USD 21,798.08 Million by 2028; based on primary research.
- On the basis of region, Asia-Pacific is projected to dominate the worldwide Infusion Pump market.
List of Prominent Players in the Global Infusion Pump Market:
- Becton
- Dickinson and Company (US)
- Baxter International (US)
- B. Braun (Germany)
- ICU Medical (US)
- Fresenius Kabi (Germany)
- Smith’s 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)
- Infu Tronix 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 Med Rena Biotech Co.
- Ltd. (China)
- CODAN Medizinische Geräte GmbH & Co KG (Germany)
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Market Dynamics:
The increasing number of chronic diseases and the rise in geriatric population are the key factors that drive the demand for Infusion Pump Markets. However, safety issues and medication errors are some of the factors that restrain the market growth. During the projected period, however, technical developments in Infusion Pump Markets are expected to generate profitable opportunities for leading market players.
Surgical operations are increasing year after year all across the world. By 2030, an additional 143 million surgical procedures will be required each year to save lives and prevent disabilities. Medical and technological breakthroughs such as improved anesthesia and improved analgesics for pain treatment, as well as the development of nominally invasive and noninvasive procedures, all contributed to this rise. As a result, the worldwide Infusion Pump Market has benefited from an increase in surgical procedures.
Challenges:
The impact of product recalls, including safety and efficacy concerns, on the sale of Infusion Pump Markets is a major concern for device manufacturers. With these recalls, manufacturers will need to replace the failed Infusion Pump Market with the latest model to compensate for the casualties of the accident.
Moreover, lack of skilled professionals and standard operating procedures are expected to further hinder market development. Inexperienced professionals lead to mistakes during use of pumps, increasing the risk of emergencies, and therefore limiting market development. market growth.
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Regional Trends:
North America dominates the global infusion market due to high prevalence of chronic diseases. And it is the most developed area, and people's good awareness of health has also led to the use of Infusion Pump Markets. The Asia Pacific Infusion Pump Market is expected to experience rapid growth. Asia Pacific holds the second position in the Infusion Pump Market owing to the rising prevalence of chronic diseases in countries such as China and India. With the popularity of smart pumps and electronic medical records, the European and American Infusion Pump Markets are expected to expand. Furthermore, funding from public and private institutions in the European region has the potential to boost biotechnology R&D activities and is expected to drive market growth.
Recent Developments:
In April 2021, Medtronic Plc (Ireland) launched an extended infusion set in selected countries of Europe, which can be worn up to seven days.
Browse market data Tables and Figures spread through 130 Pages and in-depth TOC on "Infusion Pump Market Size, Share & Trends Analysis Report by Product Type (Accessories and Consumables, Devices), by Application (Chemotherapy/Oncology , Diabetes Management , Gastroenterology , Pain Management/ Analgesia ), by Setting (Hospitals, Home Care Settings , Ambulatory Care Settings , Academic and Research Institutes), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/infusion-pump-market-market-322877
The report on the Global Infusion Pump Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Infusion Pump Market?
- How will the Infusion Pump Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Infusion Pump Market?
- What is the Infusion Pump market drivers and restrictions?
- What will be the CAGR and size of the Infusion Pump Market throughout the forecast period?
This market titled “Global Infusion Pump Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size in 2021 | USD 13,141.50 Million |
| Projected Market Size in 2028 | USD 21,798.08 Million |
| CAGR Growth Rate | CAGR of 8.80% From 2022 – 2028 |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Product Type • Accessories and Consumables • Devices • Application • Chemotherapy/Oncology • Diabetes Management • Gastroenterology • Pain Management/ Analgesia • Pediatrics/ Neonatology • Hematology • Setting • Hospitals • Home Care Settings • Ambulatory Care Settings • Academic and Research Institutes |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • 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) • and CODAN Medizinische Geräte GmbH & Co KG (Germany). |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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