Infusion Pumps Market Is Projected to Grow at A Robust CAGR Of 5.0% Between 2022 And 2030

According to a recent market analysis by Future Market Research, the global infusion pumps market is projected to reach a valuation of US$ 6.6 Bn by 2030, expanding at a steady CAGR of 5.0% over the forecast period of 2022-2030. The report assays key drivers, restraints, and challenges shaping the global infusion pump market coupled with analysis of decisive business strategies of the top players. Increasing pool of patients affected by chronic pain and diabetes along with emergence of technologically advanced products with improved features are likely to fuel the global infusion pumps market through 2028. North America is expected to be the largest market in the global infusion pumps market.

Infusion Pumps Market Outlook:

Infusion pumps are healthcare devices used for administering high-risk medication, fluids and nutrients to patients, in a controlled and conditional setting. These fluids or medicines are pumped in the patient’s body through subcutaneous, intravenous, and arterial veins. Those mostly used in hospitals are stationary infusion pumps, portable infusion pumps are wearable and can be used while on-the-go. Several types of infusion pumps are in healthcare institutions including syringe pumps, ambulatory pumps, volumetric pumps, implantable pumps, insulin pumps, enteral pumps, and PCA pumps. Pain relievers, insulin, and chemotherapy drugs are mostly administered to patients using infusion pumps.

Presence of rigid Government guidelines for new items, expanding number of item reviews that frequently is a resultant of prescription blunders related with mixture siphons, and the rising reception of reconditioned and rental imbuement siphons are expected to confine the market development of implantation siphons during the gauge time frame. Client blunders address a huge piece of negative input occurrences connected with mixture siphons

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Then again, great repayment guidelines for imbuement treatments completed in homecare settings is a main consideration advancing income development from the home implantation end-client fragment.

Fragmented Infusion Pumps Market to Present Investment Opportunities; Acquisitions and Innovative NPD to Remain Key Forward Strategies

Key players in the global infusion pumps market include Pfizer (Hospira) Inc., Medtronic Plc., Terumo Corporation, Johnson & Johnson Private Ltd., B. Braun Melsungen AG., Smiths Medical, Baxter International Inc., and Fresenius Kabi AG. The top 5 key players contributed approximately 79% revenue share to the Infusion Pumps Market in 2017. The report on infusion pumps market offers a detailed competitive outlook along with strategy overview, SWOT analysis, and current developments.

Infusion pump manufacturers are constantly improving their forward integration capabilities in the value chain and establishing and enhancing distributor network. Moreover, since the infusion pumps market is highly fragmented, there is no definite leader for all categories, leaving enough scope for investment by mushrooming local players, especially in emerging economies such as China and India. Although, Medtronic is a clear market leader with close to two-third market share through 2014, it does not have a competitive edge in other categories of infusion pumps including syringe pumps and ambulatory pumps.

Players dealing with hospital supplies are increasingly targeting the infusion pumps market for either acquiring leading companies or those facing large number of product recalls.

Incorporating Smart Technology Will Drive the Infusion Pumps Market

In terms of forward strategy, companies are manufacturing user-friendly and technologically advanced infusion pumps that can be monitored remotely. Companies are also including comprehensive drug libraries in pumps that would enable multi-directional interoperability and enhanced data safety of the instrument and patients, for better electronic health record and medication management across multi-care settings. Lastly, advanced technologies including dose error reduction system [DERS] and barcode-enabled point of care (BPOC) systems are also been incorporated in infusion pumps to prevent medication errors, thereby, driving the growth of smart infusion pumps market.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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