High prevalence of chronic diseases, surge in global geriatric population, growth in demand for home healthcare, and infusion pumps possess wide range of application drive the growth of the global infusion pumps & accessories market
PORTLAND, Ore., March 28, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Infusion Pumps & Accessories Market by Type (Devices & Pumps and Accessories & Disposables), Application (Diabetes, Gastroenterology, Analgesia & Pain Management, Chemotherapy, Pediatrics & Neonatology, and Others), and End User (Hospitals, Home Care, Ambulatory Surgical Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021––2030″. According to the report, the global infusion pumps & accessories industry generated $8.1 billion in 2020, and is anticipated to generate $13.2 billion by 2030, witnessing a CAGR of 5.0% from 2021 to 2030.
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Prime determinants of growth
High prevalence of chronic diseases, surge in global geriatric population, growth in demand for home healthcare, and infusion pumps possess wide range of application drive the growth of the global infusion pumps & accessories market. However, several errors associated with infusion pumps and stringent government regulations hinder the market growth. On the other hand, various growth opportunities from emerging economies and development of efficient infusion pumps present new opportunities in the coming years.
- The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global infusion pumps & accessories market.
- A significant rise in the usage of infusion pumps during the pandemic has increased the production of infusion pumps and accessories, which is anticipated to drive the infusion pumps and accessories market.
- Moreover, new innovations by the key players has propelled the growth of the market.
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The accessories & disposables segment to maintain its leadership status throughout the forecast period
Based on product type, the accessories & disposables segment held the highest market share in 2020, accounting for nearly two-thirds of the global infusion pumps & accessories market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to increase in prevalence of diabetes patients. Moreover, the Devices & Pumps segment is projected to manifest the highest CAGR of 5.2% from 2021 to 2030.
The hospitals segment to maintain its lead position during the forecast period
Based on end user, the hospitals segment accounted for the largest share in 2020, contributing to more than half of the global infusion pumps & accessories market, and is projected to maintain its lead position during the forecast period. This is due to increase in use for pediatrics in hospitals. However, the home care segment is expected to portray the largest CAGR of 5.5% from 2021 to 2030.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global infusion pumps & accessories market. This is owing to the robust infrastructure provided for research activities and presence of key players across North America. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 5.3% during the forecast period, owing to increase in use of Infusion pump & accessories products, R & D activities for new product launch, and rise in investments in the healthcare sector in the region.
Leading Market Players
- B. Braun Melsungen AG
- Baxter International Inc.
- Becton Dickinson & Company
- Fresenius SE & Co
- ICU Medical Inc.
- Insulet Corporation
- Johnson & Johnson
- Medtronic Plc
- Moog Inc.
- Terumo Corporation
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SOURCE Allied Market Research