Next Generation Infusion Pump Market is Expected to Grow at a 4.8% CAGR and Reach US$ 8.5 Billion by 2032 | FMI Analysis

Posted on 2024-07-09 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Next Generation Infusion Pump Market

The way we deliver medication is evolving, and the Next Generation Infusion Pump Market is poised for significant growth. According to a new report, this market is expected to reach a staggering USD 8.5 billion by 2032, up from USD 5.1 billion in 2022. This translates to a steady growth trajectory with a Compound Annual Growth Rate (CAGR) of 4.8%.

Next Generation Infusion Pumps are a combination of intuitive user interface, simplicity, and state-of-the-art information technology. They are inclined with an advanced pumping system that measures flow to improve workflow efficiency and patient safety. Its smartphone-like user interface is designed to diminish interpretation and programming errors empowering end users to save time and reduction in pump interactions. Next Generation Infusion Pumps are largely accepted by healthcare professionals because they provide more patient safety and efficacy.

The technology used in regular infusion pumps hasn’t kept pace with advancements in the healthcare industry. According to a report published by the institute of Medicine in 2007, from the year 2005 to 2009, 710 deaths and more than 56,000 adverse events were reported to the FDA, most amongst medical technologies, adding more than $2 Bn to annual healthcare costs in the US. On the other hand, Next Generation Infusion Pumps provide enough functionality, flexibility, scalability, affordability, and ease of use needed for the changing needs of the healthcare system, indicating robust growth in the Next Generation Infusion Pump market over the forecast period.

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Next Generation Infusion Pumps attribute high integration between the pump and hospital IT system, reducing errors. Moreover, diverse new technologies like implantable insulin pumps in addition to delivering targeted, consistent medication, increase patient ease as well. The leading market players are focusing on safer operability, minimized chances of product recalls, and enhanced product designs, over the forecast period.

Next Generation Infusion Pump Market: Drivers and Restraints

Insulin infusion pumps are dominating the Next Generation Infusion Pump market, however, worldwide booming prevalence of diabetes is a key driver for the Next Generation Infusion Pump market. Increased R&D initiatives on IV drug administration for malnutrition, cancers, diabetes, AIDS, neurological disorders, and gastrointestinal disorders coupled with technological innovation, are anticipated to generate lucrative growth in the Next Generation Infusion Pump market.

The regular infusion pump market has observed massive bad press in the last few years, for diverse risks and concerns over infusion errors, this restraint, however, has opened multiple opportunities for Next Generation Infusion Pump manufacturers. Furthermore, the lack of sufficient healthcare infrastructure in developing markets is anticipated to impact negatively on the Next Generation Infusion Pump market.

Next Generation Infusion Pump Market: Overview

Next Generation Infusion Pump market is emerging owing to the promising discovery of new innovative pumps. Key players in the market are focusing on new technologies such as smartphone-connected insulin pumps, wearable insulin pumps, and implantable insulin pumps, also focusing on accessing secure and immediate access to patient-specific infusion pump management information from any mobile device or computer, regardless of Electronic Medical Record integration. Such R&D improvements are making a ground-breaking infusion management platform, indicating transformation in Next next-generation Infusion Pump Market.

Next Generation Infusion Pump Market: Region-wise Outlook

Geographically, the next generation infusion pump market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America and Europe regions are anticipated to contribute the maximum market revenue share in Next generation infusion pump market over the forecast period due to the availability of advanced healthcare infrastructure and the presence of key players in the regions which are expected to surge the demand for next-generation infusion pumps during the forecast period in the above-mentioned region. Asia Pacific region as well, is anticipated to witness crucial growth due to growing healthcare infrastructure in the region. An increasing number of mid-sized hospitals is identified to be a major driver of the APEJ market growth.

Next Generation Infusion Pump Market: Key Players

The players leading in next next-generation infusion pump market include Ivenix, Inc., Zyno Medical, B. Braun Melsungen AG, Baxter International, Inc., F. Hoffmann-la Roche Ltd., Johnson & Johnson (U.S.), Pfizer (Hospira) Inc., and Smiths Medical to name a few.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology, and applications.

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The report covers an exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico, Brazil, and the Rest of Latin America)
Western Europe (Germany, Italy, France, UK, Spain, Nordic countries, Belgium, Netherlands, Luxembourg, and the Rest of Western Europe)
Eastern Europe (Poland, Russia and Rest of Eastern Europe)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, and Rest of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Next Generation Infusion Pump Market: Segmentation

Next Generation Infusion Pump market has been segmented based on application, end user, and region

Based on the Application,

Oncology
Analgesia
Diabetes
Hematology
Neonatology
Gastroenterology
Autoimmune Diseases

Based on end-user,

Hospitals
Ambulatory Surgical Centers (ASCs)
Clinics
Others

Report Highlights:

Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.

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