The infusion pump market size is anticipated to grow owing to the increasing demand from the healthcare sector. The increasing number of chronic diseases including cancer, diabetes, and gastroenterological disorders across the world, is likely to drive the market. This equipment used in the health sector to transfer liquid into a patient's body with fixed and accurate amounts. They are widely used in nursing homes and hospitals to aid a patient in a critical condition. Furthermore, the high demand for infusion systems in the defense sector is expected to drive industry growth.
Infusion pumps can be used for two purposes, including stationary and portable. The demand for stationary infusion pumps is primarily driven by hospitals for patients. Portable infusion pumps are wearable and we can be used while traveling, giving it an additional benefit over stationary infusion pumps. The market growth of portable infusion pumps is anticipated to escalate which will minimize overall healthcare expenditure. However, the growing adoption of refurbished and rental infusion pumps is limiting the demand for new pumps, thereby impacting the overall industry growth.
An infusion pump is used by an expert, who sets the speed and time duration of the transferred liquid via a pre-installed software. The large volume pumps are used to feed patients, and the small-volume pumps focus on hormones or medication. The infusion pump delivers fluids at automated intervals and in smaller volumes which is not possible through manual administrated fluids. It provides several medications including antibiotics, pain relievers, chemotherapy drugs, and insulin.
Infusion pumps are used to monitor liquids having pump failure and risky medications can become a risk for patient's health and hamper the industry growth. Today, many pumps are in-built with safety measures such as alarms which get activated in case of any problem or when there is any blockage in the tubing that delivers fluid to the patient. Smart pumps are developed in such a way that whenever there is a possibility of risk such as adverse drug interaction or setting the pump's parameter above a specific limit, it gives an alert.
The infusion pump market can be segmented into application, product type, region, and end-users. Based on the product, the market can be segmented into pump accessories, syringe pumps, patient-controlled analgesia pumps, ambulatory pumps, enteral pumps, volumetric pumps, insulin pumps, and implantable pumps. The use of insulin pumps for managing diabetes at home has increased owing to the increasing number of diabetic patients, thereby driving the growth of the insulin pump market. Enteral infusion pumps are an advanced infusion pump designed to reduce dosage errors that are used to transfer fluid medications and nutrients to a patient's digestive system. Patient-controlled analgesia pumps permit patients to analyze a specific amount of medication according to their needs. The factors such as convenience and effective delivery of the drugs can lead to an increase in the industry growth of volumetric pumps.
Based on the application, the market can be divided into chemotherapy, diabetes, hematology, pediatrics, gastroenterology, and analgesia. The chemotherapy division is growing at a high rate owing to rising patients of cancer and increased use of infusion pumps for the administration of medications, to the cancer patients. Based on end-users, it can be segmented into ambulatory surgical centers, hospitals, clinics, and home care. Hospitals contribute the largest share in the growth of the market on the account of various factors such as high purchasing power to buy infusion equipment, availability expertise, and a rise in the number of surgical procedures.
North America is one of the largest contributors to the market growth on the account of the high adoption rate of specialty infusion pumps for the treatment of chronic diseases, rising geriatric population, and the presence of well-established healthcare sectors in the region. The market for infusion pumps in the U.S. and Europe is expected to increase owing to the rising usage of smart pumps and electronic medical records. Moreover, the availability of funds in the Europe region from the public and private bodies is likely to drive the R&D activities in biotechnology are expected to boost the market growth. The rise in medical tourism in developing countries is likely to have a positive impact on the growth of the Asia Pacific infusion pumps market.
The infusion pump market is highly competitive and fragmented. The key players include Becton, Dickinson and Company, Ypsomed Holding AG, B. Braun Melsungen AG, Micrel Medical Devices SA, Baxter International Inc., Mindray Medical International Limited, Fresenius Kabi, Teleflex, Inc., ICU Medical, Inc., Zyno Medical LLC, Medtronic plc, Roche Holding AG, Moog Inc., Insulet Corporation, Smiths Medical, Inc., JMS Co., Ltd, Terumo Corporation, Tandem Diabetes Care, Inc., and NIPRO Corporation.
In April 2017, Becton, Dickinson and Company acquired Caesarea Medical Electronics to expand its product portfolio and geographic presence across the globe. In January 2020, Medtronic launched Efficio, a cloud-based data management software, for use with the SynchroMed II intrathecal drug delivery system, enabling clinicians to efficiently manage their targeted drug delivery pump practices to treat patients with chronic pain, and cancer.
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