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Infusion Pump Market to Touch $15.81 Billion by 2028; Advancements in Drug Delivery Systems to Boost Market Development

February 25, 2022 | Healthcare

The global infusion pump market size is anticipated to exhibit remarkable growth by reaching USD 15.81 billion by 2028. Fortune Business Insights™ in its report titled “Infusion Pump Market Size, Share & COVID-19 Impact Analysis, By Type (Volumetric Pumps, Syringe Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Implantable Pumps, and PCA Pumps), By Application (Diabetes, Oncology, Pain Management, and Others), By End User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings, and Others), and Regional Forecast, 2021-2028” examines that the market size in 2020 stood at USD 9.02 billion in 2020 and is projected to exhibit a CAGR of 7.3% during 2021 and 2028. The market is estimated to reach USD 9.67 billion in 2021. Advancements in drug delivery systems, increasing prevalence of chronic disorders, and rising development and research initiatives are anticipated to boost the growth of the market.


Alfred E. Mann Foundation for Scientific Research (AMF) Property Sale to Expand Medtronic’s Product Portfolio


Alfred E. Mann Foundation for Scientific Research (AMF) sold its intellectual property to Medtronic in September 2021. AMF will work alongside Medtronic to develop a next-generation implantable insulin pump for patients suffering from type 1 diabetes in Europe. The technology offers a significant improvement over current implantable insulin pumps. It offers magnetic resonance imaging (MRI), precise insulin delivery, and compact design. This strategy shall enable Medtronic to expand its product portfolio and boost its market position.


Robust Demand for Pumps from Healthcare Sector to Boost Market Growth


This market is expected to grow positively during the COVID-19 pandemic because of the rising demand for pumps from the healthcare sector. The sudden spike in COVID-19 patients leads to the emergence of several organ failures, which, in turn, is likely to boost sales. The adoption of reduced capacities, part-time shifts, and production machinery may enable manufacturers to recover losses and balance costs. Furthermore, the rising medical expenditures and demand for advanced medical equipment are likely to boost the adoption of the product. These factors are likely to fuel the market development during the pandemic.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/infusion-pump-market-102554


Prevalence of Diabetes Cases Globally to Boost Market Growth


Increasing cases of diabetes among the population is expected to boost the adoption of advanced medical devices. An infusion device provides the ability to provide medication in specified doses and speeds the recovery process. It reduces hospital stays and boosts the effectiveness of the medication. Furthermore, increased cancer cases among the population may increase infusion pumps’ demand. For example, as per the information provided by the World Health Organization (WHO), the number of reported cancer deaths reached 9.6 million. Medical pumps provide chemotherapy to patients effectively and are also used extensively to treat type 1 diabetes patients. Moreover, the rising demand for ambulatory infusion devices in several medical applications is expected to boost sales. The pumps provide TPN infusion, analgesics, and chemotherapy to patients at home and in hospitals. In addition, the rising demand for self-controlled pumps is likely to drive the infusion pump market growth.


Major Players Announce Novel Products to Boost Brand Presence


The prominent companies operating in the market launch novel products to attract consumers and improve brand presence globally. For example, Medtronic announced a first-of-its-kind infusion set in April 2021. It can be utilized in European countries for up to seven days and delivers insulin to the human body using infusion pumps. It is compatible with the MiniMed 700 and 600 line of insulin pumps. This launch can help Medtronic attract consumers’ attention and boost its brand presence globally. Furthermore, the adoption of technologically advanced production strategies may enable companies to reduce production costs, reduce time and resource consumption, increase operational efficiency, and satisfy organizational goals.


Industry Development



  • February 2021: B. Braun Medical Inc. was awarded “2021 Best in KLAS” for its Traditional Smart Pumps. Simultaneously, its Infusomat Space Large Volume Pump also received the same award for its efficiency.


LIST OF KEY COMPANIES PROFILED IN THE REPORT:



  • Medtronic (Ireland)

  • Becton Dickinson and company (U.S.)

  • Baxter (U.S.)

  • Insulet Corporation (U.S.)

  • ICU Medical, Inc. (U.S.)

  • B. Braun Melsungen AG (Germany)

  • Smiths Medical (Smiths Group plc.) (U.S.)

  • Fresenius Kabi AG (Germany)

  • Terumo Corporation (Japan)

  • F. Hoffmann-La Roche Ltd (Switzerland)

  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)


Further Report Findings



  • The market in North America stood at USD 3.52 billion in 2020 and is expected to gain the largest portion of the global infusion pump market share. Higher diagnosis and treatment rates are likely to boost infusion pumps’ adoption. Increased spending capacity and evolving lifestyle may boost product sales.

  • Moreover, the presence of developed medical infrastructure and rising diabetes treatment rates may boost industry growth. In addition, favorable government subsidies and increasing cancer and diabetes rates may fuel the industry's progress.

  • According to type analysis, the insulin pumps segment is expected to dominate the market share because of the rising number of type 1 patients globally. In addition, the introduction of advanced pump technologies is expected to boost market development.


Report Scope & Segmentation



















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD billion)



Segmentation



Type; Application; End User; and Region



Segmentation



By Type



  • Volumetric Pumps

  • Syringe Pumps

  • Elastomeric Pumps

  • Insulin Pumps

  • Enteral Pumps

  • Implantable Pumps

  • Patient Control Analgesia (PCA) Pumps



By Application



  • Diabetes

  • Oncology

  • Pain Management

  • Others 



By End User



  • Hospitals

  • Ambulatory Care Settings

  • Specialty Clinics

  • Home Care Settings



By Geography



  • North America (By Type, By Application, By End User, and by Country)

    • U.S. (By Type)

    • Canada (By Type)



  • Europe (By Type, By Application, By End User, and by Country)

    • U.K. (By Type)

    • Germany (By Type)

    • France (By Type)

    • Italy (By Type)

    • Spain (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Type, By Application, By End User, and by Country)

    • China (By Type)

    • Japan (By Type)

    • India (By Type)

    • Australia (By Type)

    • Southeast Asia (By Type)

    • Rest of Asia Pacific (By Type)



  • Latin America (By Type, By Application, By End User, and by Country)

    • Brazil (By Type)

    • Mexico (By Type)

    • Rest of Latin America (By Type)



  • Middle East & Africa (By Type, By Application, By End User, and by Country)

    • GCC (By Type)

    • South Africa (By Type)



  • Rest of Middle East & Africa (By Type)


Infusion Pump Market
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