The report “Infusion Pump Market by Product (Volumetric, Insulin, Enteral, Syringe, Ambulatory, Implantable, PCA, Accessories), Application (Oncology, Diabetes, Gastroenterology, Pediatrics, Hematology), End User (Hospital, Home Care, ACS) – Global Forecast to 2023″, The global infusion pumps market is expected to grow at a CAGR of 6.0% during the forecast period, to reach USD 15.89 Billion by 2023 from USD 11.90 Billion in 2018.
Browse 247 market data Tables and 54 Figures spread through 300 Pages and in-depth TOC on “Infusion Pump Market
The increasing prevalence of chronic diseases along with the rapid growth in the geriatric population, growing use of ambulatory infusion pumps in home care settings, and growing number of surgical procedures are some of the key factors driving the growth of the infusion pumps market. However, the presence of stringent regulations for new products, medication errors associated with infusion pumps (that have resulted in product recalls), and the increasing adoption of refurbished and rental infusion pumps are expected to restrain the growth of this market to a certain extent during the forecast period.
The devices include volumetric infusion pumps, syringe infusion pumps, insulin infusion pumps, ambulatory infusion pumps, enteral infusion pumps, patient-controlled analgesia infusion pumps, and implantable infusion pumps. In 2017, the insulin infusion pumps segment dominated the infusion pump devices market.
Based on application, the infusion pump market is segmented into chemotherapy/oncology, diabetes, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, and other applications. The chemotherapy/oncology segment accounted for the largest share of the global infusion pump market in 2017. The large share of this segment can be attributed to the growing incidence of cancer, increasing availability of ambulatory infusion pumps for chemotherapy, and the introduction of technologically advanced products in this market segment. The diabetes segment is expected to grow at the highest CAGR during the forecast period. Growth the diabetes segment is mainly driven by the increasing incidence of diabetes and rising demand for insulin pumps for the management of diabetes in home care settings.
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On the basis of end user, the infusion pumps market is segmented into hospitals, home care settings, ambulatory care settings, and academic & research institutes. The hospitals segment dominated the market in 2017. The large share of this end-user segment is mainly attributed to the strong financial capabilities of hospitals for purchasing high-priced infusion devices, large patient pool, and the availability of trained professionals to operate infusion pumps.
Geographically, the infusion pumps market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America accounted for the largest share of this market.