The global infusion pumps market is projected to generate $27,133.7 million revenue in 2030, advancing at a CAGR of 8.7% during 2021–2030. The rising prevalence of chronic diseases, technological advancements in infusion devices, increasing popularity of home infusion treatments, growing elderly population, and surging cases of hospital-acquired illnesses are driving the industry growth.
The market is categorized into chemotherapy/oncology, diabetes management, gastroenterology, pain management/analgesia, pediatrics/neonatology, and others, based on application. Among these, the diabetes management category accounted for the largest market share in 2021. Globally, the awareness of diabetes and various ways of managing it is increasing. This is because a wide range of initiatives is being taken by non-government organizations (NGOs), diabetes associations, and national and state health departments to create awareness among people regarding diabetes and its management. Owing to such reasons, the demand for diabetes management devices is rising.
Moreover, the market is classified into hospitals, home care settings, ambulatory care settings, and others, on the basis of end user. Among these, the hospitals category held the largest revenue share in the market in 2021. Drug delivery practices are most frequently performed in hospitals, particularly during surgeries or post-surgical pain. For this, they are increasingly using infusion accessories and devices for monitoring and treatment of patients.
Furthermore, the market is bifurcated into devices and accessories and consumables, based on product type. Of these, the accessories and consumables category dominates the market, and it is also projected to witness a higher CAGR, of more than 8%, during 2021–2030. This can be ascribed to the surging usage and availability of accessories and consumables across the globe.
In addition, the infusion pumps market is bifurcated into specialty infusion pumps and traditional infusion pumps, on the basis of functionality. Between the two, the traditional infusion pumps category is projected to grow at a higher CAGR during the forecast period. This can be because the pumps are used to treat common and uncomplicated diseases, which are more prevalent than complex disorders. Furthermore, these pumps are readily available and can be used in home care settings.
Globally, North America is the largest market for infusion pumps. The regional market is growing mainly due to the surging prevalence of diseases, including diabetes, cancer, and gastrointestinal disorders; the rising awareness about diabetes management; and the increasing healthcare spending. Furthermore, several awareness programs with respect to diabetes in North America are promoting diabetes care among citizens, which will further propel the regional market growth in the coming years.
Players operating in the industry have been extensively involved in product launches and approvals to gain competitive advantages in the market.
For instance, in May 2021, Roche Holding AG announced the approval of the Accu-Chek Insight insulin pump with the automated insulin delivery (AID) system from Diabeloop in Switzerland. Similarly, in March 2021, JMS Co. Ltd. announced the launch of the enteral nutrition syringe pump, namely “EN-SP50”.
The major players in the infusion pumps market include Baxter International Inc., Becton, Dickinson and Company, Braun Melsungen AG, CareFusion Corporation, Medtronic Inc., ICU Medical Inc., Nipro Corporation, Pfizer Inc., Terumo Corporation, and Eli Lilly and Company.