2024-2033 Drug Infusion Systems Market Outlook: Unlocking Growth Potential
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What is the Anticipated CAGR of the Drug Infusion Systems Market Over the 2024-2033 Forecast Period?
In recent times, the drug infusion systems market has seen robust growth. The market size is set to rise from $12.8 billion in 2023 and reach $13.78 billion in 2024, experiencing a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this growth during the past years comprise a shift towards electronic infusion equipment, a higher incidence of chronic conditions, enhancements in patient care, home-based infusion care, and the proliferation of ambulatory care environments.
The size of the drug infusion systems market is projected to experience significant expansion in the coming years. A compound annual growth rate (CAGR) of 8.0% is anticipated, taking the market to $18.74 billion by 2028. The surge in growth during the predicted period can be linked to moves towards disposable systems, increasing incidences of chronic diseases, the development of ambulatory care facilities, application of personalized medicine and adaptive dosing, and a rising demand for home-based healthcare. The forecast period is expected to witness key trends such as wireless connectivity and remote monitoring, synchronization with electronic health records (ehr), advanced pump technology, personalized and adaptive dosing, and less invasive infusion techniques.
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What Are the Driving Forces Behind the Growth of the drug infusion systems Market?
The rise in occurrences of chronic diseases is set to drive the expansion of the drug infusion system market. Chronic conditions like cancer, diabetes, cardiovascular disease and autoimmune disorders frequently necessitate long-term or continuous infusion treatments. Drug infusion systems offer a reliable, efficient, and beneficial method for delivering medication to patients with these diseases. The prevalence rates are escalating more rapidly in low- to middle-income countries compared to their high-income counterparts. Diabetes is a leading cause of kidney failure, heart attacks, strokes, blindness and amputation of lower limbs. The International Diabetes Federation (IDF) reports that in 2021, there are 537 million adults between the ages of 20-79 living with diabetes (1 in 10 individuals are affected by diabetes), and this number is predicted to rise to around 643 million by 2030, and 783 million by 2045. As such, the surging demand brought about by the rising prevalence of chronic diseases is fueling the growth of the drug infusion system market.
What Are the Core Segments of the Drug Infusion Systems Market?
1) By Product Type: Elastomeric Infusion System, Disposable Infusion System, Syringe Infusion System, Peristaltic Pump, Multi-Channel Pump, Patient-Controlled Analgesia (PCA) Pump, Insulin Pump, Implantable Infusion System
2) By Route Of Administration: Intravenous, Subcutaneous, Arterial, Epidural, Other Routes Of Administration
3) By Application: Oncology And Chemotherapy, Diabetes, Analgesia, Nutrition, Hematology, Pediatrics, Other Applications
4) By End User: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Other End Users
What Are the Key Innovations Reshaping the Drug Infusion Systems Market?
The emergence of advanced drug delivery systems is a key trend gaining traction in the drug infusion systems industry. Major companies in this field are prioritizing the development of innovative products using cutting-edge technology to maintain their market standing. For example, in June 2021, Ivenix, a medical device firm based in the US, introduced a new smart infusion system equipped with an advanced informatics platform. The infusion therapy system developed by Ivenix incorporates novel pump technology that automates secondary infusions, ensuring patients obtain the full prescribed therapy. In addition, the system comprises a state-of-the-art informatics platform, which provides secure entry to patient-specific infusion and pump management from any computer or mobile device. This system synchronizes with ADT interfacing, alarm notification systems, charge capture solutions, and electronic medical records (EMR), facilitating seamless workflow integration.
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What Regions Are Influencing the Dynamics of the Drug Infusion Systems Market?
North America was the largest region in the drug infusion systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global drug infusion systems market report during the forecast period. The regions covered in the drug infusion systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Drug Infusion Systems Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the drug infusion systems market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Drug Infusion Systems Market Include
1. Drug Infusion Systems Market Executive Summary
2. Drug Infusion Systems Market Segments
3. Drug Infusion Systems Market Size And Template Market Growth Rate
4. Key Drug Infusion Systems Market Trends
5. Major Drug Infusion Systems Market Drivers
……
25. Key Mergers And Acquisitions In The Drug Infusion Systems Market
26. Top Drug Infusion Systems Companies
27. Drug Infusion Systems Market Opportunities And Strategies
28. Drug Infusion Systems Market, Conclusions And Recommendations
29. Appendix
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