CHICAGO, March 19, 2020 /PRNewswire/ -- According to the new market research report "Infusion Pump Market by Product [Accessories (Dedicated, Non-dedicated), Devices (Volumetric, Insulin, Syringe, Ambulatory)], Type (Traditional, Specialty), Application (Cancer, Diabetes), & End User (Hospital, Home care, ASCs) - Global Forecast to 2025", published by MarketsandMarkets™, the global Infusion Pumps market is projected to reach USD 18.9 billion by 2025 from USD 13.5 billion in 2020, at a CAGR of 7.0% during the forecast period.
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The rising demand for ambulatory infusion pumps in home care settings, increasing incidence of chronic diseases along with the rapid growth of the geriatric population, and growing number of surgical procedures performed are the major factors driving the growth of this market.
The accessories & consumables segment is expected to grow at the highest CAGR during the forecast period
Based on products, the infusion pumps market is segmented into accessories & consumables and devices. The accessories & consumables segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to its recurrent use and the increasing adoption of infusion pumps for the delivery of medications in a controlled environment.
The dedicated accessories & consumables segment is expected to grow at the highest CAGR during the forecast period
Based on product, the infusion pumps market is segmented into dedicated accessories & consumables and non-dedicated accessories & consumables. The dedicated accessories & consumables segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be attributed to the requirement of compatible administration sets designed for a particular type of infusion pump by the manufacturer to ensure optimum results of the dedicated accessories.
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352 – Pages
The specialty infusion pumps segment is expected to grow at the highest CAGR during the forecast period
Based on type, the infusion pump devices market has been segmented into traditional infusion pumps and specialty infusion pumps market. The specialty infusion pumps segment is expected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the increasing adoption of specialty infusion pumps in home care settings and ambulatory care centers and technological advancements in infusion pump devices.
The diabetes segment is expected to grow at the highest CAGR during the forecast period
Based on application, the infusion pumps market is segmented into chemotherapy/oncology, diabetes, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, and other applications (includes infectious diseases, autoimmune diseases, and diseases of the heart, kidney, lung, and liver). The diabetes segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment is mainly driven by the increasing prevalence of diabetes and the rising demand for insulin pumps for the management of diabetes in home care settings.
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The home care settings segment is expected to grow at the highest CAGR during the forecast period
On the basis of end user, the infusion pumps market has been segmented into hospitals, home care settings, ambulatory care settings, and academic and research institutes. The home care settings segment is estimated to grow at the highest CAGR during the forecast period. Technological advancements in infusion pumps have enabled the development of compact and lightweight devices that are easy to carry and operate. This, coupled with the increasing awareness and acceptance of ambulatory infusion pumps (such as disposable pumps) at home care settings to reduce hospital stays, is propelling the growth of the infusion pumps market for home care settings.
North America accounted for the largest market share in 2019
North America accounted for the largest share of the infusion pumps market in 2019, followed by Europe. The large share of this region can be attributed to the high adoption of specialty infusion pumps for the treatment of chronic diseases, increasing prevalence of chronic diseases, rising geriatric population, and the presence of many large hospitals in the region.
The prominent players in this market are Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Baxter International Inc. (US), Fresenius Kabi (Germany), ICU Medical, Inc. (US), Medtronic plc (Ireland), Moog Inc. (US), Smiths Medical (US), Terumo Corporation (Japan), NIPRO Corporation (Japan), Avanos Medical, Inc. (US), Tandem Diabetes Care, Inc. (US), JMS Co., Ltd. (Japan), Insulet Corporation (US), Roche Diagnostics (Switzerland), Zyno Medical (US), Teleflex, Inc. (US), Mindray Medical International Limited (China), Micrel Medical Devices SA (Greece), and Ypsomed Holding AG (Switzerland), among other key players.
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