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 global Infusion Pump 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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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.
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.
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).
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.
North America accounted for the largest share of the infusion pumps market in 2019, followed by Europe.
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), Micrel Medical Devices SA (Greece), and Ypsomed Holding AG (Switzerland), among other key players.