Infusion Pumps - Market Insights, Competitive Landscape, and Market Forecast - 2030

Infusion Pumps Market By Type (Volumetric Pumps, Syringe Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Implantable Pumps, and Patient-Controlled Analgesia Pumps), Application (Diabetes, Oncology, Pain Management, Gastroenterology, and Others), End-User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings, and Others), and Geography is expected to grow at a steady CAGR Forecast till 2028 owing to increasing prevalence of chronic diseases and increase in the demand of remote patient monitoring.

The global infusion pumps market was valued at USD 13.80 billion in 2022, growing at a CAGR of 9.54% during the forecast period from 2023 to 2028, to reach USD 23.85 billion by 2028. The demand for Infusion Pumps is primarily motivated by the increasing prevalence of chronic diseases, the increase in the demand for remote patient monitoring, growing research and development activities to launch home infusion systems, and the increasing cost of hospital-based infusion therapies.

Infusion Pumps Market Dynamics:

Infusion pumps offer significant benefits over the manual delivery of fluids like the ability to administer the fluids in a very small dosage and at accurate programmed rates. In many cases like cancer and diabetic conditions, these pumps are used to deliver the medication to maintain drug levels in the bloodstream at a steady state.

Overall, the burden of cancer incidence is growing globally rapidly and this is expected to increase the demand for infusion pumps. For instance, according to the data cited by the World Health Organization (WHO) 2022, worldwide around 2.26 million cases of breast, 2.21 million cases of lung, 1.93 million cases of colon and rectum, 1.41 million cases of prostate, and 1.09 million cases of stomach cancer were reported in 2020. Cancer patients need chemotherapy which is to be delivered to the patients in a continuous manner which can be achieved by using the pump. Such diseases have become a major public health concern and need a quick and regulated mode of treatment.

Moreover, As per statistics by the IDF Diabetes Atlas (2022), 537 million adults were living with diabetes in 2021. This number is predicted to rise to 643 million by 2030 and 783 million by 2045. Insulin infusion pumps are increasingly being preferred in the management of type 1 diabetes. These patients necessitate user-friendly self-controlled pumps to achieve continuous medication delivery.

Thereby, the aforementioned factors are going to positively impact the growth of the infusion pump market.

However, certain factors such as the infusion pumps giving faulty readings sometimes and also the non-availability of best practicing guidelines for using infusion pumps pose a minor hurdle for the growth of the infusion pumps market.

Infusion Pumps Market Segment Analysis:

Infusion Pumps Market By Type (Volumetric Pumps, Syringe Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Implantable Pumps, and PCA Pumps), Application (Diabetes, Oncology, Pain Management, Gastroenterology, and Others), End-User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the type segment of the infusion pumps market, the insulin pumps category is expected to hold the largest market share. This can be ascribed to the advantages and applications associated with insulin pumps in the management of patients with diabetes.

With the growing prevalence of diabetes, devices such as insulin infusion pumps come in handy for people who self-administer insulin daily. An insulin pump is a small computerized device that provides continuous delivery of short-acting insulin through a thin tube and substitutes the need for a long-acting one.

Insulin pump also replaces the need for multiple daily injections with a continuous insulin infusion. Insulin infusion pumps are increasingly being preferred in the management of type 1 diabetes. According to the latest data published by the International Diabetes Federation, in 2022, around 8.75 million people were living with diabetes, with 1.52 million under age 20.

Rising technological advancement and the adoption of insulin pumps over traditional methods are some of the key market drivers. These pumps are highly convenient for people who require multiple insulin injections daily. These devices are less invasive and hence, are largely adopted by the patient pool.

The increasing focus of manufacturers on developing and launching newer insulin pumps is going to assist in the market growth of the same. For example, in August 2022, Insulet Corporation, the global leader in tubeless insulin pump technology with its Omnipod® brand of products, introduced the Omnipod DASH® Insulin Management System (Omnipod DASH) to healthcare providers in Australia.

Additionally, assistance from government bodies, and increasing government initiatives to reduce the overall healthcare cost associated with prolonged hospital admittance are likely to support the rising demand for infusion systems.

Hence, all the above-mentioned factors are expected to drive segment growth in the infusion pump market.

North America is expected to dominate the overall Infusion Pumps Market:

North America is expected to dominate the overall infusion pumps market during the forecast period. this domination is due to the growing demand for advanced technologies in infusion pumps, higher diagnosis rate, the increasing chronic disease in the region, the presence of key players, and others that are driving the regional growth in the infusion pumps market.

As per the Centers for Disease Control and Prevention (CDC) 2022, around 37.3 million people which is about 11.3% of the US population are suffering from diabetes.

Moreover, as per the figures mentioned by the American Cancer Society 2021, it was estimated that around 1.9 million new cancer cases were diagnosed in the United States in 2021. Also, according to the data provided by the Centers for Disease Control and Prevention (CDC) in 2021, around 1,752,735 new cases of cancer were reported in the US in 2019. As per Globocan 2021 data, there were around 61,152 new cases of leukemia recorded in 2020 in the United States. As per the same source around 73, 652 cases of Non-Hodgkin lymphoma and 8,107 new cases of Hodgkin lymphoma were recorded in 2020 in the US. The prevalence is increasing at a high rate, which in turn, will increase the demand for better treatment. This situation is giving rise to a critical need for infusion pumps for the prevention, and treatment of chronic disease, which will further boost the demand for infusion pumps market in both hospitals as well as home care settings in North America.

Further, in North America, the market is driven by a favorable reimbursement environment in the US, for example, Medicare Parts A and B cover tubeless and tubed pumps, respectively, requiring the patient to pay only 20% of the cost of the pump.

In addition, the presence of medical device companies operating in insulin pumps, such as Tandem and Insulet, in the region will also help the growth of the infusion pump market.

Therefore, owing to the above-mentioned factors, the infusion pumps market is expected to bolster in the United States during the forecast period.

Infusion Pumps Key Players:

Some of the key market players operating in the infusion pumps market include Baxter International, B. Braun Melsungen AG, Medtronic, Micrel Medical Devices SA, Boston Scientific Corporation, CareFusion Corporation, Fresenius Kabi, Smiths Medical, and others.

Recent Developmental Activities in Infusion Pumps:

• On August 11, 2022, Insulet Corporation, the global leader in tubeless insulin pump technology with its Omnipod® brand of products, introduced the Omnipod DASH® Insulin Management System (Omnipod DASH) to healthcare providers in Australia.
• In September 2020, Medtronic plc received approval from the US Food and Drug Administration (FDA) for its MiniMed 770G hybrid system.
• In May 2020, Baxter International Inc. received regulatory approval for the Evo IQ Syringe Infusion System along with CE marking from Australia's Therapeutic Goods Administration (TGA).

Key Takeaways from the Infusion Pumps Market Report Study

• Market size analysis for current market size (2022), and market forecast for 5 years (2023-2028)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global infusion pumps market.
• Various opportunities available for the other competitor in the infusion pumps market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028?
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for market growth in the coming future?

Target Audience who can be benefited from this Infusion Pumps Market Report Study

• Infusion Pumps providers
• Research organizations and consulting companies
• Infusion Pumps-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders
• Various End-Users who want to know more about the infusion pumps market and the latest technological developments in the infusion pumps market.

Frequently Asked Questions for Infusion Pumps Market:

1. What is Infusion Pump?

An infusion pump is a medical device used to deliver fluids into a patient's body in a controlled manner. There are many different types of infusion pumps, which are used for a variety of purposes and in a variety of environments. Some infusion pumps are designed mainly for stationary use at a patient's bedside. Others, called ambulatory infusion pumps, are designed to be portable or wearable.

2. What is the market for global infusion pumps?

The global infusion pumps market was valued at USD 13.80 billion in 2022, growing at a CAGR of 9.54% during the forecast period from 2023 to 2028, to reach USD 23.85 billion by 2028.

3. What are the drivers for the global infusion pump market?

The major drivers driving the demand for infusion pumps are the rising prevalence of chronic diseases, an upsurge in the demand for remote patient monitoring, increasing research and development activities to launch home infusion systems, and increasing cost of hospital-based infusion therapies.

4. What are the key players operating in the global infusion pump market?

Some of the key market players operating in the global infusion pumps market include Baxter International, B. Braun Melsungen AG, Medtronic, Micrel Medical Devices SA, Boston Scientific Corporation, CareFusion Corporation, Fresenius Kabi, Smiths Medical, and others.

5. Which region has the highest share in the infusion pumps market?

North America is expected to dominate the overall infusion pumps market during the forecast period, 2023 to 2028. This domination is due to the growing demand for advanced technologies in Infusion Pumps, higher diagnosis rate, the increasing chronic disease in the region, presence of large players in the US.