Global Infusion Sets Market - 2023-2030

Global Infusion Sets Market - 2023-2030

Market Overview

The global infusion sets size was valued at US$ YY million in 2022 and is estimated to reach US$ YY million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).

An infusion set links the insulin pump delivery device to the body. It operates the exact way an intravenous line does. A needle is lodged inside a cannula, a tiny plastic tube normally placed under the skin in the subcutaneous fat. This needle is required to puncture the skin to insert the set.

Market Dynamics

The rising number of diabetes patients, the growing market developments and increasing initiatives by various bodies in the fight against diabetes are boosting the global infusion set market growth throughout the forecast period.

The rising cases of diabetes and growing market developents boost the global infusion set market in the forecast period.

The growing preponderance of diabetes globally is driving the global market growth. For instance, according to the International Diabetes Federation, in 2021, over 537 million adults had diabetes, making it 1 out of 10 people globally. It is estimated to rise to 643 million by 2030 and 783 million by 2045. Also, 3 in 4 adults with diabetes are in low- and middle-income countries. In 2021 diabetes caused one death every five seconds accounting for over 6.7 million deaths globally. Globally diabetes healthcare expenditure for 2021 was around $ 966 billion accounting for a 316% rise over the last 15 years.

More than 240 million cases of diabetes are undiagnosed, over 541 million adults are on the verge of developing type 2 diabetes, and around 21 million live births are affected with diabetes during pregnancy. Furthermore, the growing market developments also contribute to the global market growth during the forecast period. For instance, in November 2022, Medtronic plc, a global leader in healthcare technology, announced the U.S. launch of the Medtronic Extended infusion set, the first and only infusion set tagged for up to 7-day wear. An infusion set is tubing that transfers insulin from an insulin pump to the body and typically requires a set change every two to three days. Also, in January 2022, The U.S. Food and Drug Administration (FDA) approved the investigational device exemption (IDE) for Capillary Biomedical (CapBio) to initiate a key trial of its SteadiFlow seven-day-wear infusion set technology.

The product recalls hinders the global market growth.

However, many infusion pump product recalls are predicted to hamper the market growth during the forecast period. For instance, in March 2020, the U.S. Food and Drug Administration announced that it had classified the Becton Dickinson Alaris System infusion pump recall as a Class I recall, the agency’s most severe recall for medical devices that could cause serious injury or death.

COVID-19 Impact Analysis

The COVID-19 outbreak is anticipated to impact the global infusion set market's growth positively. For example, in May 2020, The U.S. Food and Drug Administration (FDA) allocated an umbrella emergency use approval for infusion pumps and accessories to be utilized by healthcare professionals to treat disorders caused by the COVID-19 infection. The U.S. FDA issued EUAs (Emergency Use Authorizations) that have improved the availability of infusion pumps. Therefore, the rise in infusion pump use during the COVID-19 pandemic has boosted the production of infusion pumps and accessories, which is predicted to push the infusion set market during the forecast period.

Segment Analysis

Infusion sets with filters are estimated to grow at the fastest CAGR during the forecast period (2022-2029).

Infusion filters are employed to reliably control particles from penetrating the human body, averting life-threatening blood clots, or dispersing drugs in a specific and steady pattern. The filtration/retention rate can be determined by choosing the correct pore size. By choosing the most suitable pore size, the retention rate for undersized particles can be decided, and the flow rate for the infusion solution be selected by correlating the membrane flow rate with the priming pressure of the drug delivery solution. Also, the availability of various filters ensures the dominance of the infusion sets with filter segment dominance in the forecast period. For example, the nucleopore membrane precise filtering infusion set can effectively intercept particles and play the role of filtering particles, significantly reducing the pain caused by infusion, effectively reducing the infusion reaction, and ensuring infusion safety. Also, the track-etched membranes have a highly defined pore structure and adjustable pore size and flow parameters. They can offer a unique solution for every infusion filter application. In addition, mounting can be done conveniently with ultrasonic welding or other assembly methods. These track-etched membranes come in pore sizes of 0.1 µm up to 10.0 µm and possess irradiation stability towards Gamma and X-ray for very convenient sterilization of the whole unit. Thus, the mentioned data indicates that the infusion set with filter holds most of the global infusion set market in the forecasted period.

Geographical Analysis

The North American market is expected to grow at a high CAGR during the forecast period.

The increasing cases of diabetes in North America contribute to the dominance of this region over the global market throughout the forecast period (2022-20292); for instance, the data from the American International Diabetes Federation indicates that in 2021 in North America and the Caribbean, there were 51 million adults living with diabetes which is predicted to be 57 million by 2030 and 63 million by 2045. Also, around 1 out of 4 American adults had diabetes but were undiagnosed. In 2021 diabetes claimed over 931,000 deaths and a total of $ 415 billion expenditure for diabetes. Furthermore, the increasing government initiatives to fight against diabetes also contribute to North America's dominance over the global infusion set market throughout the forecast period. For instance, in 2021, the Government of Canada announced $35 million for investments in diabetes, specifically, $25 million for diabetes research, surveillance, and prevention, as well as the development of a national framework for diabetes.

Also, expand access to the National Diabetes Prevention Program’s (National DPP) lifestyle change program, an evidence-based intervention to prevent or delay the onset of type 2 diabetes in adults at high risk. The year-long program uses a CDC-approved curriculum, is facilitated by a trained lifestyle coach, and focuses on making realistic behavior changes through healthy eating, increasing physical activity, and managing stress. Thus, owing to the data mentioned the North American infusion set market is estimated to grow at a high CAGR throughout5 the forecast period.

Competitive Landscape

The growing cases of diabetes keep the global infusion sets the market competitive. Micsafe Medical, Fresenius Kabi, Smith Medical, Becton, Dickinson and Company (BD), B. Braun Melsungen AG, Baxter, Tandem Diabetes, Bexen Medical, and Wuhan W.E.O Science & Technology are examples of a few key market players. These key players hold the market through acquisitions, product launches, and collaborations. For instance, in July 2022, Tandem Diabetes Care acquired infusion set developer Capillary Biomedical.

Medtronic Plc.

Overview:

Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

Product Portfolio:

The product portfolio of Medtronic plc has a MiniMed Mio Advance infusion set: This has a 90° soft cannula and can be inserted with only four steps. The all-in-one insertion design means that no separate serter is required.

The global infusion sets market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.