Infusion Pump Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Application (Continuous Load, Standby Load, and Peak Load); Equipment (Generators, Transformers, Load Banks, and Others); Power Rating (Up to 50 kW, 51 kW – 500 kW, 501 kW – 2500 kW, and Above 2500 kW); and Region/Country

Detailed Analysis of COVID-19 Impact on the Infusion Pump Market

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212

Table:

38

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Report ID:

UMEP21828

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Infusion Pump Market
Infusion Pump Market

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The global infusion pump market is expected to witness a CAGR of around 8% during the forecast period (2021–2027). The prevalence of lifestyle-related diseases such as diabetes, increased surgical procedures, anesthetic usage in pain management, pediatric neonate nutritional supply, and the rapid growth in cancer patients all over the world. Additionally, infusion pumps are used for the treatment of diabetes. Therefore, increasing the prevalence of diabetes over the globe is expected to drive the market for infusion pumps during the forecast period. For instance, according to, the International Diabetes Federation (IDF), In 2021, Approximately 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. The rising geriatric population is also expected to drive the growth of the global infusion pump market during the forecast period. Above the age of 65, patients will require infusion pumps for the treatment of diabetes, cancer, anesthetic usage in pain management, and the rising number of surgeries. According to World Health Organization (WHO), the world’s population over 60 years will nearly double from 12% to 22% during 2015-2050.

Becton, Dickinson and Company, Baxter International (US), B. Braun, ICU Medical, Fresenius Kabi, Smiths Medical, Medtronic PLC, Avanos Medical, Inc., Nipro Corporation, Terumo Corporation. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

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Insights Presented in the Report

“Amongst Type, device category to witness the fastest growth during the forecast period”

Based on type, the market is classified into devices and accessories. Amongst them, in 2020, the devices category dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the rising incidence of diabetes, cancer, and gastroenterology, globally. Further, volumetric infusion pumps are used to provide safe and accurate administration of intravenous fluid products such as medications, blood products, and parenteral nutrition to the patient. Furthermore, infusion pumps are also used in chemotherapy for cancer patients. Chemotherapy infusion pumps help in the administration of chemotherapy drugs in a controlled procedure. According to the World Health Organization (WHO), cancer accounts for 8.3 million deaths each year, with 70% of new cancer cases expected to be reported over the next 20 years. The rising cancer cases all over the world is anticipated to be a key driver of the infusion pumps market during the forecast period.

“Amongst Application, Diabetes category is accounted for a significant market share in 2020”

Based on application, the market is classified into diabetes, oncology, pain management, and others. Amongst them, in 2020, the diabetes category is estimated to witness the highest CAGR for the forecast period. This is mainly due to the rising prevalence of diabetes and the increasing demand for insulin pumps for the management of diabetes in hospitals as well as home care settings. In addition, the growth of this market segment includes increased incidences of chronic diseases, growth in the geriatric population, and an increment in the number of people undergoing surgical procedures. Additionally, obesity and overweight is a major reason of complications of heart disease and stroke, diabetes, musculoskeletal disorders, cancer, and the risk for non-communicable diseases. According to the World health organization (WHO), In 2016, more than 1.9 billion adults, 18 years and older, were overweight. Of these over 650 million were obese. 39% of adults aged 18 years and over were overweight in 2016, and 13% were obese. Furthermore, 39 million children under the age of 5 were overweight or obese in 2020.

“Amongst End-Users, Hospitals and Clinics category is expected to witness significant growth in the infusion pump market”

Based on end-user, the market is bifurcated into hospitals and clinics, hospitals & clinics, ambulatory surgery centers (ASC), and others. In 2020, the hospitals and clinics category accounted for the majority share in the global market. This is can be ascribed to the fact that hospitals and clinics are the first step in disease diagnosis. In addition, a rise in the number of healthcare facilities across countries coupled with the surging investment in the research and development by the hospitals is resulting in the growth of the infusion pump market. Furthermore, the government across countries is investing in the healthcare industry for advancements and technological upgradation. However, the home care setting segment is expected to drive the market during the forecast period due to the growing adoption of ambulatory pumps. Moreover, increasing government initiatives for the reduction of overall healthcare costs associated with prolonged hospitalization is likely to support the rising demand for infusion systems for the homecare system

“North America to witness significant growth during the forecast period”

North America is expected to show the highest CAGR growth in the infusion pump market during the forecast period. Increasing Incidence of diabetes, cancer, and an increasing number of surgical procedures performed, increasing R&D, and adoption of advancements in technology drive the market of infusion market in this region. The major contributors to the growth of this market are U.S. and Canada. Among these regions, the U.S. held the largest market share in the region due to high disease prevalence, high medical R&D expenditure, and a strong healthcare system. In addition, the prevalence of diabetes in the U.S. is also quite significant, which can be attributed to their lifestyle and stressed work environment. According to the Centre for Disease Control (CDC), in the U.S., 34.2 million population were diagnosed with diabetes in 2018 and the number is expected to grow in the future.

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Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.


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1.1.Market Definitions
1.2.Limitation
1.3.Stakeholders
1.4.Currency used in Report
2.1.Research Process of the Infusion Pump Market
2.2.Research Methodology of the Infusion Pump Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Infusion Pump Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5GLOBAL INFUSION PUMP MARKET COVID-19 IMPACT
6GLOBAL INFUSION PUMP MARKET REVENUE (USD BN), 2019-2027F
7.1.Devices 
7.1.1.Volumetric Infusion Pumps
7.1.2.Insulin Pumps
7.1.3.Enteral Infusion Pumps
7.1.4.Syringe Infusion Pumps
7.1.5.Others 
7.2.Accessories
8.1.Diabetes
8.2.Oncology
8.3.Pain management
8.4.Others 
9.1.Hospitals & Clinics
9.2.Ambulatory Surgery Centers (ASC) 
9.3.Others 
10.1.North America
 10.1.1.U.S.
 10.1.2.Canada
 10.1.3.Rest of North America
10.2.Europe 
 10.2.1.Germany
 10.2.2.United Kingdom
 10.2.3.France
 10.2.4.Spain
 10.2.5.Italy
 10.2.6.Rest of Europe
10.3.Asia-Pacific
 10.3.1.China
 10.3.2.Japan
 10.3.3.India
 10.3.4.Rest of Asia-Pacific
10.4.Rest of World
11.1.Market Drivers
11.2.Market Challenges
11.3.Impact Analysis
12INFUSION PUMP MARKET OPPORTUNITIES
13INFUSION PUMP MARKET TRENDS
14.1.Demand Side Analysis
14.2.Supply Side Analysis
15VALUE CHAIN ANALYSIS
16.1.Competitive Landscape
16.1.1.Porter’s Five Forces Analysis 
17.1.Becton, Dickinson and Company
17.2.Baxter International
17.3.B. Braun 
17.4.ICU Medical
17.5.Fresenius Kabi
17.6.Smiths Medical
17.7.Medtronic PLC
17.8.Avanos Medical, Inc.
17.9.Nipro Corporation
17.10.Terumo Corporation
18DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the infusion pump market were the three major steps undertaken to create and analyze the adoption of the infusion pump in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the infusion pump market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the infusion pump market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the infusion pump market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the infusion pump market. Further, we conducted factor analysis using dependent and independent variables such as various applications, equipment, and power rating of infusion pump equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Infusion pump market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the infusion pump market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of infusion pump market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the infusion pump market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Power Rental Market
Infusion Pump Market

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the infusion pump market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application, and end-user in the infusion pump market.

The main objective of the infusion pump Market Study

The current & future market trends of the infusion pump market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the infusion pump market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type, application, and end-user.
  • Define and analysis of the regulatory framework for the infusion pump market industry.
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
  • Analyze the current and forecast market size of the infusion pump market for the major region.
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
  • Company profiles of the infusion pump market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?