Infusion Pumps & Accessories Market Expected to Reach $13,264.18 Million by 2030 | CAGR of 5.0%

According to a new report published by Allied Market Research, titled, “Infusion Pumps & Accessories Market by Type, Application Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,"the infusion pumps & accessories market size was valued at $8,138.49 million in 2020, and is estimated to reach $13,264.18 million by 2030, growing at a CAGR of 5.0% from 2021 to 2030.

Infusion pumps are medical devices employed to deliver medications and fluids into patient’s body in controlled dosages. They are designed according to the usage; for example, for stationary use, the device is placed at patient bedside, and for ambulatory use, they can be wearable or portable. Infused fluids are various medications that are administered on the basis of patient conditions such as nutrients for eternal feeding, insulin, hormones, antibiotics, and others. Moreover, these pumps are widely used in healthcare settings such as patient, outpatient, private clinics, and at-home settings.

The factors that drive the growth of the infusion pumps & accessories market include increase in prevalence of chemotherapy procedures and rise in demand of infusion pumps for pediatric use. Moreover, rise in demand for ambulatory infusion pumps in home care settings, also fuel the growth of the market. However, stringent governmental regulations and reforms associated with infusion therapy impede the market growth. Conversely, the development of new product by key players along with large production of infusion pumps and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.

The major factors that drive the growth of the infusion pumps & accessories market include increase in incidence of chronic diseases such as diabetes, cardiovascular disorders, and cancer; growth in geriatric population who are more prone to aforementioned disorders; numerous applications of infusion pumps; and upsurge in demand for home-based infusion pumps product. For instance, in February 2021, Mindray Medical has launched BeneFusion e series-esp, evp, and eds, new infusion systems for expanding its product portfolio. Moreover, in 2020, Medtronic Plc has launched Exillia infusion pump to cater the increasing demand in COVID-19 pandemic. Thus, development of infusion pump devices by key players propels the growth of the market.

Early diagnosis of chronic diseases at or near bedside or at home increases the chances of successful treatment and further minimizes the hospital expenditure. The home healthcare market is gaining popularity as it is a cost-effective alternative to hospital-based treatments of chronic diseases. Home-based infusion pumps provide better and immediate results. In addition, Portable Elastomeric Infusion System developed by Baxter International Inc. is a home-based infusion system that provides 30 minutes to 5 hours of continuous infusion. It is used or ambulatory medication therapies that need intermittent infusion and can be used to administer outpatient parenteral antimicrobial therapy (OPAT). Therefore, growth in demand for home-based healthcare drives the growth of the infusion pumps and accessories market.  

The infusion pumps & accessories market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is segmented into devices & pumps and accessories & disposables. Furthermore, the devices & pumps is divided into syringe infusion pumps, insulin infusion pumps, volumetric infusion pumps, ambulatory infusion pumps, patient controlled analgesia pumps, implantable infusion pumps and enteral infusion pumps. The accessories & disposables segment is divided into infusion catheters, valves, IV sets, cannulas, tubing, needles, and other disposables.

The accessories & disposables segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of product approvals, advancements in R&D activities in pharmaceutical & medical device industries, and surge in adoption of infusion pump products.

By application, it is fragmented into diabetes, gastroenterology, analgesia & pain management, chemotherapy, pediatrics & neonatology, and others. The gastroenterology acquired top position in the market in 2020, and this trend is expected to continue during the forecast period, owing to large number of infusion pump products offered by key players. 

By End user, it is divided into hospitals, homecare, ambulatory surgical centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA

North America accounted for a majority of the global infusion pumps & accessories market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in number of approvals, rise in presence of key players, and surge in development of technology for healthcare in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of cancer cases, rise in chemotherapy procedures, and growth in health care expenditures.

Key Findings of the Study

• By type, the accessories & disposables segment was the highest contributor to the market in 2020.
• On the basis of application type, the gastroenterology dominated the market in 2020, and is expected to continue this trend during the forecast period.
• On the basis of end user, the hospitals dominated the market in 2020, and is expected to continue this trend during the forecast period
• Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

North America accounted for a majority of the infusion pumps & accessories market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of chronic diseases, presence of key players, development of the healthcare sector, and presence of numerous infusion pump products. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of diabetes patients and improvement in healthcare infrastructure.