Infusion Pumps and Accessories Market —
Infusion pumps and accessories are class of drug delivering devices used for administering medications in a controlled, precise and automated manner. These devices are mainly used for therapeutic purposes in critical care, pain management and other applications, where continuous medication is required to make patient feel comfortable and pain-free. These infusion systems help in avoiding medical errors which would lead to serious life-threatening circumstances or even sometimes to death of a patient. According to IQ4I analysis, the infusion pumps and accessories global market is expected to reach $13,867.0 million by 2026 growing at a mid-single digit CAGR from 2019 to 2026.
Some of the key players of the infusion pumps and accessories market are
Baxter International, Inc. (U.S.) and B. Braun Melsungen AG (Germany), Becton Dickinson & Company (U.S.), Cardinal Health Inc. (U.S.), Fresenius SE & Co. (Germany), ICU Medical Inc. (U.S.), Insulet Corporation (U.S.), Medtronic PLC (Ireland), Nestle Group (Switzerland), Smiths Group PLC (U.K.), Tandem Diabetes Care Inc. (U.S.) and Terumo Corporation (Japan).
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The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
o Rest of North America
o Rest of Europe
o Rest of APAC
• Rest of the World (RoW)
o Rest of Latin America
o Middle East and Others
Infusion pumps and accessories market is segmented on the basis of products, applications, mode of administration, end-users and geography. The infusion pumps and accessories products market is segmented into infusion pumps, consumables, software and servicing, among them infusion pumps held the largest share in 2019 and are expected to grow at a mid-single digit CAGR of from 2019 to 2026. Infusion pumps are further sub-segmented into external infusion pumps and implantable infusion pumps. The external infusion pump accounted for the largest share of in 2019 and is expected to grow at a mid-single digit CAGR from 2019 to 2026. External infusion pumps are further segmented into volumetric infusion pumps, syringe infusion pumps, ambulatory Infusion pumps, disposable infusion pumps, enteral infusion pump and insulin infusion pumps. Among external infusion pumps, insulin infusion pump accounted for the largest share and is expected to grow at a high single digit CAGR from 2019 to 2026. Consumables are segmented into infusion catheters, infusion sets, cannula, valves and others; the infusion catheters segment accounted for the largest share in 2019 and is expected to grow at a mid-single digit CAGR from 2019 to 2026. Applications are segmented into chemotherapy, gastroenterology, pain management, diabetes, hematology, total parenteral nutrition, antibiotics, IVIg/specialty pharmaceuticals and others. Among them, the diabetes segment held the largest share in 2019 and is expected to be the fastest growing segment with a mid-single digit CAGR from 2019 to 2026.
The mode of administration market is segmented into intravenous, subcutaneous, epidural, Intra-arterial, enteral and others. In this segment subcutaneous mode of administration accounted for the largest share in 2019 and is expected to grow at a mid-single digit CAGR from 2019 to 2026. End-users are classified into hospitals, ambulatory surgical centers, homecare and others. Among them, hospitals commanded the largest segmental share in 2019 and homecare is expected to be the fastest growing segment with a mid-single digit CAGR from 2019 to 2026. Hospitals are further segmented into general ward, emergency, critical care and acute care. General ward commanded the largest share in 2019 and is expected to grow at a mid-single digit CAGR from 2019 to 2026.
Geographically, North America is the largest share followed by Europe and Asia Pacific. The APAC region is the fastest growing region and is expected to grow at a mid-single digit CAGR from 2019 to 2026 presenting an array of opportunities for growth and is likely to get the attention of new investors in the infusion pumps and accessories market. Growth in the Asian market is attributed to rising prevalence of lifestyle diseases and government initiatives in establishing innovative technologies and demand for sophisticated medical services.
The infusion pumps and accessories market is expected to grow steadily at a mid-single digit CAGR from 2019 to 2026. Increase in aging population and subsequent rise in incidence of chronic diseases, technological innovations offering wider scope of applications for infusion pumps and increase in use of infusion products in home care setting are the factors driving the market growth. The increasing trend for wireless infusion pumps, emergence of smart pumps and market expansion in emerging nations are expected to offer potential opportunities.
However, various factors such as patient safety risks and medication errors associated with infusion pumps, increasing number of infusion pump product recalls are limiting the growth of infusion pumps and accessories global market. The threats for the infusion pumps and accessories market include lack of cyber-security in wireless infusion pumps and stringent regulatory requirements for new products
The infusion pumps and accessories global market is a highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares.
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