SAN FRANCISCO, Aug. 19, 2021 /PRNewswire/ -- The global intravenous infusion pumps market size is expected to reach USD 8.4 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2028. The introduction and development of specialty and smart pumps are imparting crucial growth of the market, as they constitute Dose-error Reduction Software (DERS) and customized drug libraries. According to a study conducted by Mindray Medical Company in 2018, medical pumps are the most conventional hospital rentals equipment.
Key Insights & Findings:
- Ambulatory infusion pumps emerged as the largest product segment in 2019 owing to increasing use of delivery fluids such as nutrients and medications in case of emergencies and treatments like chemotherapy
- The implantable infusion pumps segment is projected to register the highest CAGR over the forecast period as they offer advantages such as improved safety
- The pediatrics/ neonatology segment dominated the market in 2019 in terms of disease indication as there have been growing incidences of premature birth and hence require optimum care and nutrition
- In Asia Pacific, the market is projected to witness the fastest growth over the forecast period owing to the increasing number of geriatric and diabetic patients in the region.
Read 110 page market research report, "Intravenous Infusion Pumps Market Size, Share & Trends Analysis Report By Product (Volumetric, Insulin, Syringe, Enteral, Ambulatory, Implantable Pumps), By Disease Indication, By Region, And Segment Forecasts, 2021 - 2028', by Grand View Research
To improve the safety and efficacy of intravenous infusion pumps, the U.S. FDA took an initiative known as the Infusion Pump Improvement Initiative in 2010, which focuses on supporting the benefits of generic pumps and minimizing the risk associated with them at the same time. FDA also launched a website that gives peculiar information about medical pumps to the patients, users, and other stakeholders. Several government collaborative research projects like the Generic Infusion Pump Project are introduced that are aimed at creating new methods for manufacturers for developing software for intravenous medical pumps. National Institute of Standards and Technology is working in collaboration with NCCoE to manufacture wireless medical pumps and such incorporation of various government policies and regulations will in turn propel the market.
The amalgamation of factors like the shift in technology, automation, and standardized dosing for the intravenous medical devices are anticipated to make therapy more convenient and user-friendly for patients. For instance, in May 2018, Baxter launched SPECTRUM IQ that allows patients records to be transferred directly from the EMR to the infusion system which is apt for home therapy as well as for therapies carried out in hospitals.
The hematology disease indication segment is anticipated to grow fast over the forecast period. Rising cases of blood cancer are driving demand for blood transfusion through hematology, thereby driving the segment. North America dominated the market in 2019 and is anticipated to maintain its dominance over the forecast period. Increasing number of surgeries, rising cases of chronic diseases, and R&D in healthcare sector are driving the market in the region.
Grand View Research has segmented the global intravenous infusion pumps market on the basis of product, disease indication, and region:
- Intravenous Infusion Pumps Product Outlook (Revenue, USD Million, 2016 - 2028)
- Infusion pumps
- Volumetric Infusion pumps
- Insulin Infusion pumps
- Syringe Infusion pumps
- Enteral Infusion pumps
- Ambulatory Infusion pumps
- Patient-Controlled Analgesia Infusion Pumps
- Implantable Infusion pumps
- Others
- Intravenous Infusion Pumps Disease Indication Outlook (Revenue, USD Million, 2016 - 2028)
- Chemotherapy
- Diabetes
- Gastroenterology
- Analgesia/Pain Management
- Pediatrics/Neonatology
- Hematology
- Others
- Intravenous Infusion Pumps Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Netherlands
- Belgium
- Switzerland
- Russia
- Sweden
- Asia Pacific
- India
- Japan
- China
- Australia
- South Korea
- Malaysia
- Singapore
- New Zealand
- Philippines
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
List of Key Players of Intravenous Infusion Pumps Market
- B. Braun Melsungen AG
- Baxter International
- Medtronic
- Micrel Medical Devices SA
- Boston Scientific Corporation
- Fresenius Kabi
- Smiths Medical, Inc.
- CareFusion Corporation
Browse through Grand View Research's coverage of the Global Medical Devices Industry:
- Drug Device Combination Products Market - The global drug device combination product market size was valued at USD 96.3 billion in 2016 and is expected to exhibit a CAGR of 7.9% during the forecast period.
- Insulin Delivery Devices Market - The insulin delivery devices market accounted for USD 9.9 billion in 2015 and is anticipated to grow at a CAGR of 7.3% during the forecast period.
- BRIC Diabetes Care Devices Market - The BRIC diabetes care devices market size was valued at USD 3.22 billion in 2018 and is expected to grow at a compound annual growth rate CAGR of 5.3% from 2019 to 2026.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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