Growth Trajectory Of The Infusion Pump Market 2024-2033
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The infusion pump market has experienced robust growth, surging from $14.01 billion in 2023 to $15.16 billion in 2024, with a compound annual growth rate (CAGR) of 8.2%.
- Key drivers for historic growth include an aging population, increased prevalence of chronic diseases, and advancements in healthcare technologies.
- Surgical procedures and hospitalization trends have also contributed to market expansion.
Anticipated Growth and Market Dynamics
Projections indicate continued growth for the infusion pump market, reaching $20.9 billion by 2028, with a CAGR of 8.4%.
- Factors driving forecasted growth include home healthcare trends, the rise in ambulatory care centers, and global health challenges.
- Technological integration and patient empowerment initiatives also contribute to market dynamics.
Rising Prevalence Of Chronic Diseases To Drive Market Growth
The surge in chronic diseases serves as a primary driver for the expansion of the infusion pump market.
- Chronic diseases, including cancer and diabetes, are on the rise due to changing lifestyles and poor dietary habits.
- Infusion pumps play a crucial role in delivering accurate dosing and customized treatments for chronic conditions.
- Data from the National Center for Biotechnology Information (NCBI) and the International Diabetes Federation underscores the escalating prevalence of chronic diseases worldwide.
Advanced Infusion Management Software Transforming The Market
Companies in the infusion pump market are focusing on developing infusion management software to enhance operational efficiency and patient care.
- B. Braun Medical Inc. launched the DoseTrac Enterprise Infusion Management Software, offering real-time views and retrospective reporting features.
- This software streamlines data management and facilitates centralized control of infusion pump fleets across healthcare facilities.
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Fresenius Kabi Expands Portfolio With Strategic Acquisition Of Ivenix Inc.
Fresenius Kabi’s acquisition of Ivenix Inc. in March 2022 bolsters its infusion pump technology portfolio.
- The acquisition enables Fresenius Kabi to offer advanced infusion pump systems, alongside infusion supplies and accessories.
- Ivenix Inc. specializes in the manufacturing of intravenous drug infusion pump systems, enhancing Fresenius Kabi’s market position.
Market Segmentation and Regional Insights
The infusion pump market is segmented based on product, type, technology, application, and end-user.
- Products include accessories and consumables, as well as infusion pump devices.
- Types encompass volumetric, insulin, enteral, syringe, ambulatory, PCA, and implantable infusion pumps.
- Technologies range from traditional to specialty infusion pumps.
- Applications cover chemotherapy, diabetes management, gastroenterology, pain management, pediatrics, hematology, and other medical fields.
- End-users span hospitals, ambulatory care settings, specialty clinics, and home care settings.
Regional Insights: North America Leads Market Dynamics
North America emerged as the largest region in the infusion pump market in 2023, driven by robust healthcare infrastructure and technological innovations.
- The region’s dominance highlights its role as a key hub for medical research and innovation.
- However, emerging markets present significant growth opportunities for market expansion.
In summary, the infusion pump market is poised for substantial growth, driven by technological advancements, increasing chronic disease prevalence, and strategic acquisitions. As companies continue to innovate and expand their product portfolios, the market will evolve to meet the growing demand for advanced infusion solutions globally.
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