CHICAGO, April 26, 2022 /PRNewswire/ -- According to the new market research report "APAC Infusion Pumps Market by Product (Accessories (Dedicated, Non-dedicated), Devices (Volumetric, Insulin, Syringe, Ambulatory)), Technology (Traditional, Specialty), Application (Cancer, Diabetes), & End User (Hospital, Home Care) - Fore cast to 2027", published by MarketsandMarkets, the Asia Pacific Infusion Pumps Market is expected to reach USD 5.7 billion by 2027 from an estimated USD 3.7 billion in 2022, at a CAGR of 9.1%.
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The Growth in the Asia Pacific Infusion Pumps Market is largely driven by the rising demand for ambulatory infusion pumps in home care, increasing incidence of chronic diseases along with the rapid growth of the geriatric population, growing number of surgical procedures performed, and increasing number of ICU beds in countries with a high prevalence of COVID-19. On the other hand, product recalls, stringent regulatory requirements for new products and increasing adoption of refurbished and rental infusion pumps are expected to restrain the overall market growth. Increasing incidence of medication errors and lack of wireless connectivity in most hospitals is the most common challenge faced by the market. High growth opportunities in emerging countries and growing adoption of specialty infusion systems are the opportunity areas in infusion pump market.
The accessories & consumables segment holds the highest CAGR during the forecast period.
Based on product, the APAC infusion pumps market is segmented into accessories & consumables consumables and devices. The accessories & consumables segment is estimated to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to the recurrent use of accessories & consumables and the increasing adoption of infusion pumps for the delivery of medications in a controlled environment.
Based on type, the dedicated accessories & consumables segment holds the largest market share during the forecast period.
Based on type, the accessories & consumables market is segmented into dedicated and non-dedicated accessories & consumables. The dedicated accessories & consumables segment accounted for the larger market share in 2021. The manufacturer's requirement of compatible administration sets designed for a particular type of infusion pump to ensure optimum results of these accessories is a major factor for the APAC infusion pumps market growth.
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Based on type, the portable infusion pump segment is expected to register the highest CAGR during the forecast period.
Based on type, the devices market is segmented into stationary infusion pumps and portable infusion pumps. The portable infusion pumps segment is expected to witness the highest growth during the forecast period. This is mainly due to the technological advancements in infusion pump devices and the increasing adoption of insulin and ambulatory infusion pumps in homecare settings.
Chemotherapy holds the largest market share for the infusion pump market
Based on application the chemotherapy/oncology application segment accounted for the largest share of the APAC infusion pumps market in 2021. The large share of this segment can be attributed to the growing incidence of cancer, increasing availability of ambulatory infusion pumps for chemotherapy, and the introduction of technologically advanced products in the market.
Hospitals drive the growth of the APAC infusion pumps market
Based on end user, the Asia Pacific Infusion Pumps Market has been segmented into hospitals, homecare settings, ambulatory care settings, and academic & research institutes. The hospitals segment accounted for the largest share of the APAC market in 2021. The large share of this segment is attributed to the strong financial capabilities of hospitals for purchasing high-priced infusion devices, the large patient pool treated at hospitals, and the availability of trained professionals to operate infusion pumps.
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China is expected to register the highest CAGR in the APAC infusion pumps market
Geographically, the Asia Pacific Infusion Pumps Market is segmented into China, Japan, India, Australia, Thailand, Indonesia, Vietnam, Southeast Asia, and Rest of Asia Pacific. China is expected to grow at the highest CAGR from 2022 to 2027. This can be attributed to factors such as the rising geriatric population, growing incidence of chronic diseases, increasing number of hospital set-ups, growing accessibility to advanced healthcare facilities, rising healthcare expenditure, rapidly improving health insurance sector, growing demand for advanced technologies, and the increasing adoption of infusion pump devices among hospitals for COVID-19 patients are fueling the demand for infusion devices in China.
The APAC infusion pumps market is dominated by Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Fresenius Kabi AG (Germany), Baxter International, Inc. (US), Medtronic PLC (Ireland), ICU Medical, Inc. (US), Avanos Medical, Inc. (US), Terumo Corporation (Japan), Nipro Corporation (Japan), JMS Co., Ltd. (Japan), Cardinal Health, Inc. (US), Epic Medical (Singapore), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories(US), Danaher Corporation(US), Mindray Medical International Limited (China), SOOIL Development Co., Ltd. (South Korea), Micrel Medical Devices SA (Greece), Tandem Diabetes Care, Inc. (US), Ypsomed Holding AG (Switzerland), Shenzhen MedRena Biotech Co., Ltd. (China), Allied Medical Limited (India), BPL Medical Technologies (India), Shanghai LEIEN Medical Equipment Co., Ltd. (China), and Plenum Tech Pvt. Limited (India).
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Infusion Pump Market by Product [Accessories (Dedicated, Non-dedicated), Devices (Volumetric, Insulin, Syringe, Ambulatory)], Technology (Traditional, Specialty), Application (Cancer, Diabetes), & Setting (Hospital, Homecare) - Global Forecast to 2026
https://www.marketsandmarkets.com/Market-Reports/infusion-pumps-accessories-market-90374506.html
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