The increasing incidence of chronic diseases along with the rapid growth of the geriatric population, rising demand for ambulatory infusion pumps, and the growing volume of surgical procedures performed across the globe are some of the key factors driving the growth of the infusion pumps market.
New York, Aug. 06, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Infusion Pump Market by Product, Technology, Application, & Setting – Global Forecast to 2026” – https://www.reportlinker.com/p04710244/?utm_source=GNW However, the presence of stringent regulations for new products, medication errors associated with infusion pumps (which have resulted in product recalls), and the increasing adoption of refurbished and rental infusion pumps are expected to restrain the growth of this market during the forecast period.
Based on product type, the accessories & consumables segment holds the largest market share during the forecast period.Based on products, the infusion pumps market has been segmented into accessories & consumables and devices. The accessories & consumables segment accounted for the largest share of the infusion pumps market in 2020. The large share and high growth of this segment can be attributed to the recurrent use of accessories & consumables and the increasing adoption of infusion pumps for the delivery of medications in a controlled environment
Based on infusion pump devices, the volumetric infusion pump accounted for the highest market share during the forecast period.Based on devices, the infusion pump market is segmented into volumetric infusion pumps, insulin pumps, enteral infusion pumps, ambulatory infusion pumps, syringe infusion pumps, patient-controlled analgesia (PCA) pumps, and implantable infusion pumps.The volumetric infusion pumps segment accounted for the largest share of the infusion pump devices market in 2020.
Volumetric infusion pumps are widely used to deliver large volumes of fluid to patients.These pumps are capable of delivering fluids, blood transfusions, and total parental nutrition (TPN) to patients at continuous predetermined medium-to-high flow rates.
These devices are useful for almost all areas of healthcare and are widely used for IVs.
Based on technology of infusion pump devices, the traditional pump segment is expected to register the highest CAGR during the forecast period.Based on technology, the infusion pump devices market has been segmented into traditional infusion pumps and specialty infusion pumps market.The traditional infusion pumps segment accounted for the largest share of the infusion pump devices market in 2020.
The large share of this segment is mainly due to the wide applications of traditional infusion pumps, their low cost compared to specialty infusion pumps, and their high adoption in hospitals.
Based on application, the diabetes segment is expected to register the highest CAGR during the forecast period.Based on application, the infusion pumps market is segmented into chemotherapy/oncology, diabetes management, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, and other applications (includes infectious diseases, autoimmune diseases, and diseases of the heart, kidney, lung, and liver).The diabetes management segment is expected to witness the highest growth rate during the forecast period.
Growth in this segment is mainly driven by the increasing prevalence of diabetes and the rising demand for insulin pumps to manage diabetes in home care settings.
Based on setting, home care settings are expected to register the highest CAGR during the forecast period.Based on setting, the infusion pumps market has been segmented into hospitals, home care settings, ambulatory care settings, and academic & research institutes.The home care settings segment is projected to register the highest CAGR during the forecast period.
Technological advancements in infusion pumps have enabled the development of compact and lightweight devices that are easy to carry and operate. This, coupled with the increasing awareness and acceptance of ambulatory infusion pumps (such as disposable pumps) at home care settings to reduce hospital stays, propels the growth of the infusion pumps market for home care settings.
North America is expected to account for the largest share of the infusion pump market in 2020Geographically, the infusion pump market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.North America accounted for the largest share of the infusion pump market in 2020.
The large share of North America in the global infusion pumps market can be attributed to the rising geriatric population, increasing prevalence of diabetes, and the rapid adoption of technological advancements.
Break of primary participants was as mentioned below:• By Company Type – Tier 1–60%, Tier 2–30%, and Tier 3–10%• By Designation – C-level–30%, Director-level–50%, Others–20%• By Region – North America–45%, Europe–15%, Asia Pacific–25%, Latin America- 10%, Middle East and Africa–5%
Key players in the Infusion Pump MarketThe key players in the infusion pump market include are Becton, Dickinson and Company (US), Baxter International (US), B. Braun Melsungen AG (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).
Research Coverage:The report analyzes the infusion pump market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, setting, and region.The report also includes a product portfolio matrix of various infusion pump available in the market.
The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the ReportThe report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global infusion pump market. The report analyzes this market by product, application, and setting.• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global infusion pump market.• Market Development: Comprehensive information on the lucrative emerging markets by product, application, and setting.• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global infusion pump market• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global infusion pump market.Read the full report: https://www.reportlinker.com/p04710244/?utm_source=GNW
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