Infusion Pump Market Predicted to Show Substantial Growth in Future By Application Like Chemotherapy, Diabetes Etc. To 2023

Infusion Pump Market research report By Market Research Future delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period 2019-2023

Pune, Maharashtra - May 16, 2019 /MarketersMedia/ —

Infusion pumps are used to administer critical fluids and errors associated with infusion pump such as pump failure, and adverse drug interaction can have high-risk implications on patient safety which is a major impediment to the growth of the global infusion pump market. In addition, all medical devices are subject to strict monitoring by the US FDA. Various adversities associated with infusion pumps have been reported to the FDA which has resulted in the establishment of new and tightened guidelines for medical device manufacturers which can deter the growth of the market over the forecast period. Furthermore, wireless infusion pumps are vulnerable to cybersecurity threats which is a major bottleneck to the growth of the global infusion pump market.

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Prevalence of selected medical conditions which require controlled treatment and drug delivery at programmed rates have further fostered the market growth. A steady increase in home healthcare services has induced high demand within the global infusion pump market. Home infusion therapy is increasingly becoming popular for the treatment and management of certain diseases which does not require a stay at the hospital, and this expected to augur the growth of the market over the forecast period.

Technological developments in infusion pumps such as the addition of safety features of alarms along with high demand for infusion pumps in military medical units are other factors boosting the growth of the global infusion pump market.

Global Infusion Pump Market – Dominant Players

Some of the key players in this market are:

Becton, Dickinson and Company
Fresenius Kabi AG
ICU Medical, Inc
Smith’s Medical
Terumo Medical Corporation

Global Infusion Pump Market – Segments

The Global Infusion Pump Market, in MRFR's report, has been segmented on the basis of type, application, end user, and region. By type, the market is segmented into syringe pump, ambulatory pump, and volumetric pump. The volumetric pump segment accounts for more than one-third of the total market and is the largest segment among type.

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By application, the market is segmented into diabetes, gastrointestinal disorders, pediatrics, chemotherapy, and other applications. By end-user, the market is segmented into ambulatory surgical centers, hospitals and, homecare.

Global division of the market has been done by region and includes North America, Europe, Asia Pacific, and Middle East & Africa.

Global Infusion Pump Market - Regional Analysis

By region, the Global Infusion Pump Market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa.

North America accounts for the largest share of almost 41% of the global market, led by the US and Canada. Growing aging population along with the prevalence of chronic diseases in the region is favoring the growth of the market. Besides, improvement in healthcare sector is also a factor driving market growth.

Europe follows the Americas closely which is spurred by the growing burden of chronic diseases such as diabetes and cancer in the region. Germany, France, and the UK are the key contributors to the Europe market who collectively account for almost 70% share of the market.

APAC is the fastest growing market for infusion pumps. The rapid development of the healthcare sector and expanding patient base can be credited for the growth of the market.

Global Infusion Pump Market – Key Finding

The Infusion Pump Market and is expected to reach $9.71 billion by 2023.

Volumetric holds the largest share of 37.1% of the market.

North America holds the largest market share of Infusion pump market and is anticipated to reach $3.49 billion by the end of forecast period.

Globally, Asia-Pacific the fastest growing region and expected to grow at the rate of 5.4% during the forecast period.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Source: MarketersMedia

Release ID: 513453

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