NEW YORK, July 1, 2021 /PRNewswire/ -- According to a new report published by Persistence Market Research, the global balloon infusers market size valued at US$ 905.7 Mn in 2020, and is predicted to surge at a CAGR close to 9% over the forecast period (2021-2031).
The caregiving model across the world is changing toward evidence-backed systems for better tracking of capital flow, patient progress, and reducing duration of hospital stay. One of the most important requirements of evidence-backed treatment is found in acute pain service (APS).
Balloon infusers, being lightweight and most economical in nature, are witnessing greater adoption in hospitals and home care settings. These are easy to operate and can be controlled by patients and licensed caregivers. These are preferred over electronic pumps as they can deliver fluids at precise volumes, frequencies, and intervals.
Leading pharmaceutical companies are focused on manufacturing user-friendly balloon infusers with regulators and flow sensors for the precise measurement of drug delivery rates. In addition, some players, as part of their strategy to gain a larger market share, are launching balloon infusers with added features.
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Key Takeaways from Market Study
- Continuous rate balloon infusers are expected to contribute around 70% revenue share in the market by 2031.
- Among all applications, the pain management segment is expected to expand at a CAGR of 10% by 2031. However, chemotherapy is also expected to be the next leading segment, as cancer is one of the leading chronic diseases, and is expected to hold 1/3 market share.
- Among all the end users, the hospitals segment accounted for more than 40% market share in 2020.
- North America holds the highest share in the global balloon infusers market, while East Asia is the next leading region, due to various technological advancements in the balloon infusers.
- The U.S. holds a big portion of global revenue and accounts for around 90% share in the North American market.
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"Increasing number of chronic diseases, rising adoption of balloon infusers, ongoing COVID-19 pandemic, and technologically advanced products are factors expected to drive market growth over the coming years," says an analyst of Persistence Market Research.
Innovative Product Bundling Strategies Creating Sustainable Demand
Balloon infuser manufacturers are progressively concentrating on bundling related accessories and IV drug to increase their market penetration. In this regard, dependence on direct sales visits is rising in economies such as India and China.
Visits directly by sales personnel lead to chances for the training of staff to be tasked with delivering drugs to patients. This builds goodwill on the part of producers and the possibility of contract deals from end user. Attractive, effective margin bargaining and pricing are strategies anticipated to boost future sales of balloon infusers.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the balloon infusers market in its latest study, presenting a historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.
The research study is based on the product (continuous rate balloon infusers and variable rate balloon infusers), application (pain management, antibiotic therapy, antiviral therapy, chemotherapy, and others), and end user (hospitals, ambulatory surgical centers, home care settings, speciality clinics, and others), across seven key regions of the world.
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