Intravenous Infusion Pumps Market Growth & Trends
The global intravenous infusion pumps market size is expected to reach USD 8.4 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2028. The introduction and development of specialty and smart pumps are imparting crucial growth of the market as they constitute Dose-error Reduction Software (DERS) and customized drug libraries. According to a study conducted by Mindray Medical Company in 2018, medical pumps are the most conventional hospital rentals equipment.
To improve the safety and efficacy of intravenous infusion pumps, the U.S. FDA took an initiative known as the Infusion Pump Improvement Initiative in 2010, which focuses on supporting the benefits of generic pumps and minimizing the risk associated with them at the same time. FDA also launched a website that gives peculiar information about medical pumps to the patients, users, and other stakeholders. Several government collaborative research projects like the Generic Infusion Pump Project are introduced that are aimed at creating new methods for manufacturers for developing software for intravenous medical pumps. National Institute of Standards and Technology is working in collaboration with NCCoE to manufacture wireless medical pumps and such incorporation of various government policies and regulations will in turn propel the market.
The amalgamation of factors like the shift in technology, automation, and standardized dosing for the intravenous medical devices are anticipated to make therapy more convenient and user-friendly for patients. For instance, in May 2018, Baxter launched SPECTRUM IQ that allows patients records to be transferred directly from the EMR to the infusion system which is apt for home therapy as well as for therapies carried out in hospitals.
The hematology disease indication segment is anticipated to grow fast over the forecast period. Rising cases of blood cancer are driving demand for blood transfusion through hematology, thereby driving the segment. North America dominated the market in 2019 and is anticipated to maintain its dominance over the forecast period. Increasing number of surgeries, rising cases of chronic diseases, and R&D in healthcare sector are driving the market in the region.
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Intravenous Infusion Pumps Market Report Highlights
- Ambulatory infusion pumps emerged as the largest product segment in 2019 owing to increasing use of delivery fluids such as nutrients and medications in case of emergencies and treatments like chemotherapy
- The implantable infusion pumps segment is projected to register the highest CAGR over the forecast period as they offer advantages such as improved safety
- The pediatrics/ neonatology segment dominated the market in 2019 in terms of disease indication as there have been growing incidences of premature birth and hence require optimum care and nutrition
- In Asia Pacific, the market is projected to witness the fastest growth over the forecast period owing to the increasing number of geriatric and diabetic patients in the region.
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Intravenous Infusion Pump Market Segmentation
Grand View Research has segmented the global intravenous infusion pumps market on the basis of product, disease indication, and region:
Intravenous Infusion Pumps Product Outlook (Revenue, USD Million, 2016 - 2028)
- Infusion pumps
- Volumetric Infusion pumps
- Insulin Infusion pumps
- Syringe Infusion pumps
- Enteral Infusion pumps
- Ambulatory Infusion pumps
- Patient-Controlled Analgesia Infusion Pumps
- Implantable Infusion pumps
- Others
Intravenous Infusion Pumps Disease Indication Outlook (Revenue, USD Million, 2016 - 2028)
- Chemotherapy
- Diabetes
- Gastroenterology
- Analgesia/Pain Management
- Pediatrics/Neonatology
- Hematology
- Others
Intravenous Infusion Pumps Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- US.
- Canada
- Europe
- UK.
- Germany
- France
- Spain
- Italy
- Netherlands
- Belgium
- Switzerland
- Russia
- Sweden
- Asia Pacific
- India
- Japan
- China
- Australia
- South Korea
- Malaysia
- Singapore
- New Zealand
- Philippines
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
List of Key Players of Intravenous Infusion Pumps Market
- Braun Melsungen AG
- Baxter International
- Medtronic
- Micrel Medical Devices SA
- Boston Scientific Corporation
- Fresenius Kabi
- Smiths Medical, Inc.
- CareFusion Corporation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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