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Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
DESCRIPTION
The recent surge in chronic diseases such as diabetes, cancer, and cardiovascular conditions has significantly increased the need for precise and effective medication delivery through infusion pumps. As these health issues become more prevalent, there is a heightened demand for infusion pumps to administer various treatments and manage patient care effectively. Technological advancements have played a crucial role in meeting this demand. Modern infusion pumps now come with cutting-edge features designed to enhance their functionality and reliability. For instance, advanced software integrated into these pumps helps in reducing medication errors by providing accurate dosage calculations and real-time alerts for potential issues. Additionally, the introduction of wireless technology allows healthcare professionals to remotely monitor and control the infusion pumps, thereby improving patient safety and operational efficiency.
Wissen Research analyses that the global infusion pump market is estimated at ~USD 17 billion in 2023 and is projected to reach ~USD 26.5 billion by 2030, expected to grow at a CAGR of ~6.5% during the forecast period, 2024-2030.
Infusion Pump Market Dynamics:
Driving Factor: Growing demand for ambulatory infusion pumps in home care settings
Shifting demographics and the increasing prevalence of chronic conditions are set to drive healthcare costs in the coming decades. As the demand for long-term care rises, the need for infusion pumps is anticipated to grow substantially. Ambulatory infusion pumps, in particular, are gaining widespread use due to their affordability and ease of use, allowing patients to manage their treatment more effectively at home and reduce the length of hospital stays. This trend is expected to significantly contribute to the expansion of the infusion pump market.
Opportunity: Significant growth potential in emerging markets
Emerging economies like China, India, and Brazil present substantial growth opportunities for players in the infusion pump market. This is driven by increasing patient awareness of treatment options and enhancements in healthcare systems within these countries. Furthermore, rising per capita income and healthcare spending in developing nations across Asia Pacific and Latin America have improved patient access to advanced healthcare treatments. These factors create significant growth prospects for companies in the infusion pump market.
Challenge: Challenges in Integrating Smart Pumps with Hospital Systems
To achieve auto-preprogramming and auto-documentation, integrated smart pumps develop a closed-loop, fully integrated medication safety system. Despite this, many hospitals face challenges with interoperability between hospital information systems and smart infusion devices. This issue largely stems from inadequate wireless connectivity and limited hospital budgets, which hinder the seamless integration of these technologies. As a result, these barriers represent a significant obstacle to the growth and advancement of the infusion pumps market.
Sources: Company Websites and Wissen Research Analysis.
Specialty infusion pump segment is expected to grow at the higher CAGR during the forecast period.
The infusion pump devices market is segmented by technology into traditional and specialty infusion pumps. Among these, the specialty pump segment holds the larger market share and is projected to grow at a faster rate than the traditional infusion pump segment during the forecast period. This growth is driven by the increasing prevalence of diabetes, leading to higher demand for insulin pumps, along with the advantages of specialty pumps, such as their lightweight design and mobility.
Ambulatory care setting segment of the infusion pump industry is expected to grow at the fastest rate during the forecast period
The hospitals segment held the largest share of the infusion pump market by setting, while the ambulatory care setting segment is anticipated to be the fastest-growing during the forecast period. This growth is attributed to the rising number of ambulatory surgical centers (ASCs) and the increasing volume of surgical procedures performed, which has led to a higher installation and use of infusion pumps in ASCs.
North America is expected to be the largest regional market for the infusion pump industry
North America leads the infusion pump market. The region is experiencing growth due to the rising incidence and prevalence of chronic diseases. Additionally, the strong presence of major key players, the increasing approval of pen injectors for various applications across multiple countries, and government initiatives to raise awareness about advancements in infusion pumps and their related accessories and consumables are expected to play a significant role in driving market growth in North America.
Major Companies and Market Share Insights
Major players operating in infusion pump market are Baxter International, Inc. (US), B. Braun Melsungen AG (Germany), Fresenius Kabi (Germany), and Medtronic PLC (Ireland). Becton, Dickinson and Company, ICU Medical, Nipro Corporation, Insulet Corporation among others.
Recent Developments:
Introduction
Market Definition
An infusion pump is a medical device used to administer controlled doses of medication into a patient’s body. These pumps can deliver various substances, such as nutrients, antibiotics, insulin or other hormones, pain relievers, and chemotherapy drugs. Compared to manual fluid administration, infusion pumps offer the advantages of delivering fluids at precisely programmed rates, automated intervals, and in very small volumes. They are widely used in clinical settings, including ambulatory surgical centers, hospitals, homes, and nursing homes. There are several types of infusion pumps, including large volume pumps, patient-controlled analgesia (PCA) pumps, enteral pumps, syringe pumps, and insulin pumps.
Sources: Company Websites and Wissen Research Analysis.
Sources: Wissen Research Analysis.
Key Stakeholders
Key objectives of the Study
Research Methodology
The aim of the study is to examine the key market forces such as drivers, opportunities, restraints, challenges, and strategies of key leaders. To monitor company advancements such as patents granted, product launches, expansions, and collaborations of key players, analyzing their competitive landscape based on various parameters of business and product strategy. Markey sizing will be estimated using top-down and bottom-up approaches. Using market breakdown and data triangulation techniques, market sizing of segments and sub-segments will be estimated.
FIGURE: RESEARCH DESIGN
Sources: Wissen Research Analysis.
Research Approach
Collecting Secondary Data
The process of collating secondary research data involves the utilization of databases, secondary sources, annual reports, investor presentations, directories, and SEC filings of companies. Secondary research will be utilized to identify and gather information beneficial for the in-depth, technical, market-oriented, and commercial analysis of the infusion pump market. A database of the key industry leaders will also be compiled using secondary research.
Collecting Primary Data
The primary research data will be conducted after acquiring knowledge about the infusion pump market scenario through secondary research. A significant number of primary interviews will be conducted with stakeholders from both the demand and supply side (including various industry experts, such as Vice Presidents (VPs), Chief X Officers (CXOs), Directors from business development, marketing and product development teams, product manufacturers) across major countries of Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. Primary data for this report will be collected through questionnaires, emails, and telephonic interviews.
FIGURE: BREAKDOWN OF PRIMARY INTERVIEWS FROM SUPPLY SIDE
FIGURE: BREAKDOWN OF PRIMARY INTERVIEWS FROM DEMAND SIDE
FIGURE: PROPOSED PRIMARY PARTICIPANTS FROM DEMAND AND SUPPLY SIDE
Note: Above mention companies are non-exhaustive.
Market Size Estimation
All major manufacturers offering various infusion pump services will be identified at the global / regional level. Revenue mapping will be done for the major players, which will further be extrapolated to arrive at the global market value of each type of segment. The market value of infusion pump market will also split into various segments and sub segments at the region level based on:
FIGURE: REVENUE MAPPING BY COMPANY (ILLUSTRATION)
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
FIGURE: REVENUE SHARE ANALYSIS OF KEY PLAYERS (SUPPLY SIDE)
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
FIGURE: MARKET SIZE ESTIMATION TOP-DOWN AND BOTTOM-UP APPROACH
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
FIGURE: ANALYSIS OF DROCS FOR GROWTH FORECAST
Sources: Doctors Without Borders (Médecins Sans Frontières – MSF), Emergency medical services (EMS), Johns Hopkins University School of Medicine, International Red Cross and Red Crescent Movement, Partners In Health (PIH), Harvard Medical School, Project HOPE, National Health Institution (NIH), Company Website, Press Releases, Annual Reports, Paid Data Sources, and Wissen Research Analysis.
FIGURE: GROWTH FORECAST ANALYSIS UTILIZING MULTIPLE PARAMETERS
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
Research Design
After arriving at the overall market size-using the market size estimation processes-the market will be split into several segments and sub segment. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub segment, the data triangulation, and market breakdown procedures will be employed, wherever applicable. The data will be triangulated by studying various factors and trends from both the demand and supply sides in the infusion pump market.
Sources: Doctors Without Borders (Médecins Sans Frontières – MSF), Emergency medical services (EMS), Johns Hopkins University School of Medicine, International Red Cross and Red Crescent Movement, Partners In Health (PIH), Harvard Medical School, Project HOPE, National Health Institution (NIH), Company Website, Press Releases, Annual Reports, Paid Data Sources, and Wissen Research Analysis
1. Introduction
1.1 Key Objectives
1.2 Definitions
1.2.1 In Scope
1.2.2 Out of Scope
1.3 Scope of the Report
1.4 Scope Related Limitations
1.5 Key Stakeholders
2. Research Methodology
2.1 Research Approach
2.2 Research Methodology / Design
2.3 Market Sizing Approach
2.3.1 Secondary Research
2.3.2 Primary Research
3. Executive Summary & Premium Content
3.1 Global Market Outlook
3.2 Key Market Findings
4. Market Overview
4.1 Market Dynamics
4.1.1 Drivers/Opportunities
4.1.2 Restraints/Challenges
4.2 End User Perception
4.3 Need Gap
4.4 Supply Chain / Value Chain Analysis
4.5 Industry Trends
4.6 Pricing Analysis
4.7 Porter’s Five Forces Analysis
5. Patent Analysis
5.1 Patents Related to Infusion Pump Technologies/Devices
5.2. Patent Landscape and Intellectual Property Trends
6. Global Infusion Pump Market, by Product Type (2023-2030, USD Million)
6.1 Accessories and consumables
6.1.1 Dedicated accessories and consumables
6.1.1.1 Volumetric infusion pump
6.1.1.2 Insulin pumps
6.1.1.3 Enteral infusion pumps
6.1.1.4 Syringe infusion pumps
6.1.1.5 Ambulatory infusion pumps
6.1.1.6 Patient Controled Analgesia (PCA) pumps
6.1.1.7 Implantable infusion pumps
6.1.2 Non-dedicated accessories and consumables
6.1.2.1 Infusion catheters
6.1.2.2 IV/administration sets
6.1.2.3 Needleless connectors
6.1.2.4 Cannulas
6.1.2.5 Tubing and extension sets
6.1.2.6 Valves
6.1.2.7 Other non-dedicated accessories and consumables
6.2 Devices
6.2.1 Insulin pumps
6.2.2 Volumetric infusion pump
6.2.3 Ambulatory infusion pumpss
6.2.3.1 Disposable infusion pumps
6.2.3.2 Chemotherapy infusion pumps
6.2.4 Syringe infusion pumps
6.2.5 Enteral infusion pumps
6.2.6 Patient Controled Analgesia (PCA) Pump
6.2.7 Implantable infusion pumpsy
7. Global Infusion Pump Market, by Setting (2023-2030, USD Million)
7.1 Homecare Settings
7.2 Hospitals
7.3 Ambulatory care settings
7.4 Academic and research institutes
8. Global Infusion Pump Devices Market, by Mode (2023-2030, USD Million)
8.1 Portable infusion pumps
8.2 Stationary infusion pumps
9. Global Infusion Pump Devices Market, by Technology (2023-2030, USD Million)
9.1 Specialty infusion pumps
9.2 Traditional infusion pumps
10. Global Infusion Pump Market, by Application (2023-2030, USD Million)
10.1 Diabetes management
10.2 Chemotherapy/oncology
10.3 Pediatrics/neonatology
10.4 Hematology
10.5 Gastroenterology
10.6 Analgesia/pain management
10.7 Other Application
11. Global Infusion Pump Market, by Region (2023-2030, USD Million)
11.1 North America
11.1.1 US
11.1.2 Canada
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Spain
11.2.4 Italy
11.2.5 UK
11.2.6 Rest of the Europe
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia and New Zealand
11.3.5 South Korea
11.3.6 Rest of the Asia Pacific
11.4 Middle East and Africa
11.5 Latin America
12. Competitive Analysis
12.1 Key Players Footprint Analysis
12.2 Market Share Analysis
12.3 Key Brand Analysis
12.4 Regional Snapshot of Key Players
12.5 R&D Expenditure of Key Players
13. Company Profiles2
13.1 Becton, Dickinson and Company
13.1.1 Business Overview
13.1.2 Product Portfolio
13.1.3 Financial Snapshot3
13.1.4 Recent Developments
13.1.5 SWOT Analysis
13.2 Nipro Corporation
13.3 Baxter International, Inc.
13.4 Braun Melsungen AG
13.5 Tandem Diabetes Care
13.6 Fresenius Kabi
13.7 Medtronic PLC
13.8 ICU Medical,
13.9 Ananos Medical
13.10 Insulet Corporation
13.11 JMS Co.
13.12 Roche Diagnostics
13.13 Teleflex, Inc
13.14 Moog Inc
13.15 Ypsomed Holding AG
14. Conclusion
15. Appendix
15.1 Industry Speak
15.2 Questionnaire
15.3 Available Custom Work
15.4 Adjacent Studies
15.5 Authors
16. References
Key Notes:
Note 1 – Contents in the ToC / market segments are tentative and might change as the research proceeds.
Note 2 – List of companies is not exhaustive and might change during the course of study.
Note 3 – Details on key financials might not be captured in case of unlisted companies.
Note 4 – SWOT analysis will be provided for top 3-5 companies.