Global Infusion Pump Market: Overview
The infusion pump is a device that infuses fluids, medication, and nutrients into the patient’s body in a precise amount in a controlled manner via arterial, intravenous, and subcutaneous routes. Infusion pump comes in two type one for portable purpose and another for the stationary purpose. Stationary infusion pumps are used for the patients in the hospital. It is commonly used for medication of insulin, pain relievers, fluids, and chemotherapy drugs.
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Global Infusion Pump Market: Growth Factors
Increasing prevalence of chronic disorders and rapid technology advancements coupled with rising awareness about health in the healthcare sector is anticipated to fuel the market growth. Infusion pumps supply an accurate amount of medication; the safety features offered by infusion pump and availability in the various shapes & sizes is expected to boost the growth of the market. Rising occurrences of diabetes give rise to the demand for insulin and insulin infusion pumps, investments in diabetes care and management which positively influences the market. Growing R&D initiatives and investments on intravenous drug administration for cancers, neurological problems, gastrointestinal disorders, AIDS, type-1 diabetes, and malnutrition are expected to generate lucrative growth opportunities.
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Global Infusion Pump Market: Segmentation
The global infusion pump market is categorized based on the end user, product type, and application. Based on the end user, the market is classified as ambulatory surgical centers, hospitals, and home-care settings. The product type segment is segregated into implantable infusion pumps, infusion disposable sets, ambulatory infusion pumps, volumetric pumps, and syringe pumps. On the basis of application, the global infusion pump market is fragmented into analgesia/pain management, chemotherapy/oncology, hematology, pediatrics/neonatology, diabetes, and gastroenterology.
Global Infusion Pump Market: Regional Analysis
North America is the leading region for infusion pump market that shows a significant growth. The presence of small and mid-sized hospitals in the Asia Pacific anticipates giving rise to the market growth in future. Growing prevalence of chronic diseases in developing nations such as India and China is expected to burgeon the market growth in the coming years. Western Europe is highly investing in the infusion pump, which is projected to propel the infusion pump market in future. Wearable insulin pumps are gaining popularity in the Middle East. Various advantages of the infusion pumps such as there are hardly any risk of patient harm, prevent I.V. medication delivery errors, and delivers consistently targeted medication fuels the market growth in the Latin American region. With the advent of new technology and growing trend of geriatric telemedicine and mobile healthcare, the smartphone-connected insulin pumps and wireless connectivity has been influenced, which augments the global infusion pump market.
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Global Infusion Pump Market: Competitive Players
Major players dominating the global infusion pump market are Terumo Corporation, CareFusion Corporation, Medtronic Plc., Braun Melsungen AG., and MOOG Inc. Other influencing players include Smiths Medical, Pfizer (Hospira) Inc., Fresenius Kabi AG, Johnson & Johnson Private Ltd., and Baxter International Inc.
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