Global Infusion Pump Market for Spectacular Growth, Projected to Reach US$ 209.8 Million by 2034 at a 7.2% CAGR

The global infusion pump market is expected to grow significantly, reaching a predicted valuation of US$209.8 million by 2034 according to industry predictions. The benefits that infusion pumps provide in terms of precisely and carefully regulating medicine dosages are being increasingly recognized, which is driving this increase. From 2024 to 2034, the market is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.2%.

Infusion pumps are essential in medical settings because they make it possible to provide patients fluids, drugs, and nutrition precisely and effectively. Global demand for infusion pumps is anticipated to increase as healthcare providers look to improve medication delivery procedures, optimize therapeutic outcomes, and improve patient safety.

The growing number of people suffering from different chronic conditions is driving the creation of fresh approaches for infusion therapy that can be administered at home. The need for these specialized infusion devices has expanded due to the aging population, which frequently needs long-term care.

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The market for infusion pumps is driven primarily by the healthcare industry. Infusion pumps are essential in healthcare settings because controlling chronic diseases requires accurate and continuous medication delivery.

Innovations in drug delivery technology have also contributed to the market’s growth by producing infusion pumps with specialized features to meet a range of medical needs.

Several key trends are shaping the future of the infusion pump market:

• Chronic Disease Management: The rising prevalence of chronic diseases like diabetes, cancer, and gastroenterological conditions is a major driver. These conditions often require long-term treatment, and infusion pumps play a vital role in administering medication effectively.
• Shift to Home-Based Care: The increasing demand for home-based infusion therapies is another key factor. Infusion pumps offer a cost-effective and convenient alternative to hospital-based treatment, allowing patients to receive care in the comfort of their own homes. This trend is expected to continue fueling market growth.

Key Takeaways from the Market Study

• The market valuation in 2022 was US$ 626
• The market valuation in 2017 was US$ 543
• Based on product type, volumetric pumps are expected to dominate at a value share of 22% in 2023.
• India is estimated to register at a CAGR of 3.8% by 2033.
• China experiences significant growth, projected at a CAGR of 3.3% by 2033.

“Rapid technological innovations are projected to encourage companies to develop more user-friendly and technologically advanced infusion systems and is considered a major driving factor of the infusion pump market,” comments a Future Market Insights analyst

 

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Competitive Landscape

The infusion pump industry boasts a substantial array of market participants. Research and development play a pivotal role among these players, primarily focusing on introducing eco-friendly product lines as a core aspect of their manufacturing endeavors. Furthermore, they employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.

Some of the key developments are

• Voluntis, a prominent player in the healthcare software industry, joined forces with Biocon biologics to revolutionize diabetes management. The strategic partnership aims to develop and offer innovative digital therapeutics designed to support diabetes patients who rely on biologics therapy.
• Mindray Medical expanded its product portfolio by introducing the BeneFusion e series. The new line includes eSP, eVP, and eDS infusion systems, representing a technological step forward. The introduction of these advanced infusion systems reflects Mindray Medical’s commitment to providing cutting-edge medical equipment to healthcare facilities.

Recent Developments

• In 2023, Terumo Corporation revealed its plans to build a new manufacturing plant for its medical care solutions division. The facility will be located at the Kofu Factory premises situated in Yamanashi, Japan.
• In 2023, Virginia Oncology Associates (VOA) procured the Ivenix Infusion System to deliver medications to its patients. This purchase was made under an agreement signed with Fresenius Kabi.
• In 2023, Terumo Blood and Cell Technologies collaborated with BioCentriq to showcase how automated cell and gene therapy platforms from Terumo can expedite the development of CAR-T cells.

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Key Market Players:

• Terumo Corporation
• Medtronic Plc
• Smiths Medical
• MOOG Inc.
• B. Braun Melsungen AG
• Fresenius Kabi AG
• Terumo Corporation
• CareFusion Corporation
• ICU Medical, Inc.
• Baxter International Inc.

Key Market Segmentation:

By Product Type:

• Syringe Pumps
• Small Volume Pump
• Ambulatory Pumps
• Volumetric Pumps
• Peristaltic
• Cassette/Piston
• Implantable Pumps
• Insulin Pumps
• Enteral Pumps
• PCA Pumps
• Pump Accessories

By Modality:

• Stationary Pumps
• Infusion Pumps

By Application:

• Chemotherapy/Oncology
• Pediatrics/Neonatology
• Analgesia
• Gastroenterology
• Hematology
• Diabetes

By End User:

• Hospitals
• Ambulatory Surgical Centers
• Home Care
• Clinics
• Others

By Region:

• North America
• Latin America
• East Asia
• South Asia
• Europe
• Oceania
• MEA

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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