Global Intravenous Infusion Pumps Market

Intravenous Infusion Pumps Market was worth US$ 5.35 Bn. in 2022 and total revenue is expected to grow at a rate of 7.9 % CAGR from 2023 to 2029, reaching almost US$ 9.11 Bn. in 2029.

Intravenous Infusion Pumps Market Overview:

The Intravenous Infusion Pump Market is expected to grow at a CAGR of 7.9 %. An intravenous infusion pump is a medical device that distributes controlled volumes of fluids, such as nutrition and drugs, into a patient's circulatory system via the intravenous route. The use of intravenous infusion pumps reduces the risk of medical errors. Intravenous infusion pumps are classed according to their intended purpose, such as stationary or portable. These pumps are commonly used in medical settings such as critical care, outpatient, private clinics, and at-home care. The market is expected to reach 9.11 Bn in 2029.

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Intravenous Infusion Pumps Market Dynamics:

The rise in the incidence of chronic diseases and the increase in the elderly population are two significant factors driving the growth of the intravenous infusion pump market. According to the World Health Organization (WHO), the burden of chronic diseases is rapidly increasing. Chronic diseases accounted for nearly 60% of the world's 56.5 million total fatalities and 46% of the burden of disease in 2001, and this figure is expected to rise to 57 % by 2022. Individuals with chronic diseases also receive just 56% of recommended preventative health care treatments, according to the New England Journal of Medicine.

Critical fluids, including high-risk drugs, are used by infusion pumps. Errors in the usage of these devices can result in major injury to patients and even death. According to the Institute of Medicine in the United States, roughly 1.5 million patients are affected by pharmaceutical errors each year, which cost an average of USD 8,750 per Potential Adverse Drug Event (PADE). Intravenous Infusion pumps have one of the highest recall rates among medical devices.

Medical errors account for 19.4% of all adverse events, making them the most common cause of medical injury. According to the National Center for Biotechnology Information, medical errors cause up to 251,000 deaths in the United States each year, making them the third highest cause of death. Infusions given intravenously (IV) have been identified as a common source of medication mistakes. These are challenges to the intravenous infusion pumps market.

Intermittent therapy for the delivery of antibiotics or continuous infusion therapy for the delivery of chemotherapeutic drugs are two of the most common uses for these intravenous pumps. According to the National Center for Biotechnology Information, ambulatory pumps are widely used and will continue to expand in popularity. The market is expected to grow because to factors such as the growing ageing population, the prevalence of chronic diseases, and the low cost. Also an increase in the number of people having procedures for cosmetic, cancer, cardiovascular, and other reasons is anticipated to fuel the growth.

Intravenous Infusion Pumps Market Segment Analysis:

Based on Product, the market is segmented into Volumetric Infusion pumps, Insulin Infusion pumps, Syringe Infusion pumps, Enteral Infusion pumps and Ambulatory Infusion pumps. Insulin infusion pumps are expected to grow at an annual rate of 8.5 %. According to the International Diabetes Federation (IDF), roughly 463 million persons globally have diabetes in 2022, with that number expected to rise to 700 million by 2045. Insulin infusion pumps are useful for those who self-administer insulin on a daily basis, especially as the prevalence of diabetes rises. An insulin pump is a compact electronic device that delivers short-acting insulin continuously through a thin tube, eliminating the need for long-acting insulin. A continuous insulin infusion from an insulin pump also eliminates the need for many daily injections

The volumetric infusion pumps segment earned the most revenue in 2022 and is expected to continue to do so throughout the forecast period. This is due to a rise in the use of technologically advanced volumetric infusion pumps with features such as EHR connection, built-in safety systems, and a drug library, which is a list of pharmaceuticals kept in the smart pump's memory and serves as a significant tool for preventing medication errors.

Intravenous Infusion Pumps Market, by Product in 2022(%)

Based on Diseases, the market is segmented into Chemotherapy, Diabetes, Gastroenterology, and Pediatrics/Neonatology. The largest segment, pediatrics/neonatology, was identified as having a 27.0 % in 2022, followed by gastroenterology. According to the National Center for Biotechnology Information, 85.29 million cases of digestive diseases were diagnosed in 2017, with the number expected to gradually rise in the following years. Colorectal cancer is the most common GI-related cause of death, followed by pancreatic cancer and hepatobiliary neoplasms. According to NCBI's statistical study, the disease is more common in women and is linked to risk factors such as poor dietary choices, a high intake of spicy and/or fermented foods, smoking, using alcohol, and living in filthy surroundings.

Based on End use, the market is divided into Hospitals, Ambulatory surgical centers, Homecare settings, Diagnostics centers and others. In homecare settings, an increase in demand for intravenous infusion pumps has been observed for the management of various conditions such as diabetes and cancer. Inventory infusion pumps are unique in that they are meant to be portable and wearable.

There is a growing preference for homecare settings due to rising long-term care costs. Because of increased hospitalization costs and the frequency of chronic diseases, Intravenous infusion pumps are in higher demand in homecare settings. The adoption of Intravenous infusion pumps is increasing, and there is a rising demand to reduce hospital stays, which is driving the rise of ambulatory infusion pumps in homecare settings.

Intravenous Infusion Pumps Market Regional Insights:

North America dominated the intravenous infusion pump market in 2022, accounting for 49.3 %. Over the forecast period, the segment is expected to retain its growth rate. This can be due to a variety of variables, including a well-developed medical infrastructure, a high prevalence of chronic diseases, and advances in infusion technology. In addition, advantageous insurance and medical device reimbursement regulations, as well as a strong local presence of key manufacturers and significant exporters of intravenous infusion pumps, are expected to move the regional market forward in the forecast year.

Over the forecast period, the market in Asia Pacific is expected to grow at the fastest rate of 8.4%. This is due to the rising prevalence of chronic diseases like cancer and diabetes, as well as the increasing number of surgical procedures performed, the quick acceptance of breakthrough medical equipment, and the regional presence of large firms. Over the projected period, these factors are expected to generate profitable prospects in the Asia Pacific market

The objective of the report is to present a comprehensive analysis of the Intravenous Infusion Pumps Market to the stakeholders in the Equipment. The past and current status of the analysis of complicated data in simple language. The report covers all the aspects of the Equipment with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has
Been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the Equipment to the decision-makers.

The report also helps in understanding the Intravenous Infusion Pumps Market dynamics, structure by analyzing the market segments and projects the Intravenous Infusion Pumps Market size. Clear representation of competitive analysis of key players by Product, price, and financial position, Product portfolio, growth strategies, and Regional presence in the Intravenous Infusion Pumps Market make the report investor’s guide.

Intravenous Infusion Pumps Market Scope: Inquire before buying

Intravenous Infusion Pumps Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)

Intravenous Infusion Pumps Market, Key Players are

1. Baxter International
2. B. Braun Melsungen AG
3.Medtronic
4. Micrel Medical Devices SA
5. Boston Scientific Corporation
6. CareFusion Corporation
7. Fresenius Kabi
8. Smiths Medical
9. ICU Medical (Hospira Inc.)
10. iRadimed Corporation
11. Zyno Medical
12. Medtronic Plc
13. Terumo Corporation
14. Nipro Corporation
15. Summit Medical Products, Inc
16. Ambu A/S
17. Gamastech S.R.L
18. vTitan, Acromed AG

Frequently Asked Questions:

1) What was the market size of Intravenous Infusion Pumps Market markets in 2022?
Ans - Intravenous Infusion Pumps Market was worth US$ 5.35 Bn in 2022.

2) What is the market segment of Intravenous Infusion Pumps Market markets?
Ans -The market segments are based on Product, Diseases and End use.

3) What is forecast period consider for Intravenous Infusion Pumps Market?
Ans -The forecast period for Intravenous Infusion Pumps Market is 2023 to 2029.

4) Which are the worldwide major key players covered for Intravenous Infusion Pumps Market report?
ANS - Baxter International, B. Braun Melsungen AG, Medtronic, Micrel Medical Devices SA, Boston Scientific Corporation, CareFusion Corporation, Fresenius Kabi, Smiths Medical, ICU Medical (Hospira Inc.), iRadimed Corporation, Zyno Medical, Medtronic Plc, Terumo Corporation, Nipro Corporation, Summit Medical Products, Inc, Ambu A/S, Gamastech S.R.L, vTitan, Acromed AG

5) Which region is dominated in Intravenous Infusion Pumps Market?
Ans -In 2022, North America region dominated the Intravenous Infusion Pumps Market.