Infusion Pump Market
Growth Factors of Infusion Pump Market
The infusion pump market size was valued at USD 11.12 billion in 2023, and the market is now projected to grow from USD 11.92 billion in 2024 to USD 21.13 billion by 2032, exhibiting a CAGR of 7.4% during the forecast period of 2024-2032.
The COVID-19 outbreak has contributed to the infusion pump market growth in 2020 due to the increased number of tests. However, due to the scarcity of workers and the halting of the supply chain production was slowed. However, high growth in new product launches contributed to incremental revenues. It is believed to grow more in the market by 2024-2032.
Another factor favouring the infusion pump market share is an increase in the growing prevalence of chronic diseases. These pumps enable small dose, fractionalized and accurate delivery, crucial in illnesses such as cancer and diabetes. Insulin pumps are particularly used for type 1 diabetes as they offer a convenient long-term approach to administering medication. The factors mentioned contribute to the increased demand for products worldwide.
Also, growing rates of chronic illnesses and expensive hospital-based infusions are spurring the development of home infusion systems. The increasing need for long-term care among elderly people supports these developments. Home infusion therapies and site care management are another concern to leading elite companies. Smart pumps with communication and EHR interface capabilities improve the security and precision of the conveyed pharmaceutical. These innovations provide increased accessibility for healthcare professionals about the status of patients.
Comprehensive Analysis of Infusion Pump Market
The infusion pump market adds to the overall regional analysis supported by demand and supply forces in the medical device industry. These segmentations are categorized by types, by applications and by end-users. The types include, Volumetric Pumps, Syringe Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Implantable Pumps and PCA Pumps. The applications include, Diabetes, Oncology, Pain Management and Others. The end-users include, Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings and Others.
North America was expected to hold the largest market share for infusion pumps in 2023 with the market size valued at USD 4.29 billion. Majorly, diabetes diagnosis and treatment rates and the increase in the adoption of favourable ambulatory pumps with reimbursement policies have been the dominant drivers. The region's infusion pump market is being pushed up by progress in medical devices.
The prominent market players who invest in it are directly involved in the healthcare industry and determine the market outline, contributing to industrial prospects. These players include, Medtronic (Ireland), Becton Dickinson and Company (U.S.), Baxter (U.S.), Insulet Corporation (U.S.), ICU Medical, Inc. (U.S.), B. Braun Melsungen AG (Germany), Smiths Medical (Smiths Group plc.) (U.S.), Fresenius Kabi AG (Germany), Terumo Corporation (Japan), F. Hoffmann-La Roche Ltd (Switzerland) and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China). These market players offer a competitive environment.
In August 2023, ICU Medical Inc. confirmed that its Plum Duo infusion pump with LifeShield infusion safety software has obtained clearance from the U.S. FDA.
Segmentation Table
Global Infusion Pump Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 7.4% from 2024 to 2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Type, Application, End-User, and Region
By Type
Volumetric Pumps- Syringe Pumps
- Elastomeric Pumps
- Insulin Pumps
- Enteral Pumps
- Implantable Pumps
- Patient Control Analgesia (PCA) Pumps
By Application
Diabetes- Oncology
- Pain Management
- Others
By End-User
Hospitals- Ambulatory Care Settings
- Specialty Clinics
- Home Care Settings
By Region
North America (By Type, By Application, By End User, and By Country)- U.S. (By Type)
- Canada (By Type)
- Europe (By Type, By Application, By End User, and By Country/Sub-region)
- Germany (By Type)
- France (By Type)
- U.K. (By Type)
- Italy (By Type)
- Spain (By Type)
- Scandinavia (By Type)
- Rest of Europe (By Type)
- Asia Pacific (By Type, By Application, By End User, and By Country/Sub-region)
- China (By Type)
- Japan (By Type)
- India (By Type)
- Australia (By Type)
- Southeast Asia (By Type)
- Rest of Asia Pacific (By Type)
- Latin America (By Type, By Application, By End User, and By Country/Sub-region)
- Brazil (By Type)
- Mexico (By Type)
- Rest of Latin America (By Type)
- Middle East and Africa (By Type, By Application, By End User, and By Country/Sub-region)
- GCC (By Type)
- South Africa (By Type)
- Rest of Middle East & Africa (By Type)
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