Key Prominent Players Covered in the Infusion Pumps Market Research Report Are Medtronic, BD, Baxter, Insulet Corporation, icumedical, B. Braun Melsungen AG, Smiths Medical (Smiths Group plc.), Fresenius Kabi AG, Terumo Corporation and other key market players.
Pune, Oct. 29, 2020 (GLOBE NEWSWIRE) -- The global infusion pump market size is predicted to reach USD 16.09 billion by 2026, exhibiting a CAGR of 7.1% during the forecast period. The market size stood at USD 9.28 billion in 2018. The market in North America stood at USD 3.41 billion in 2018. The growth in region is attributed to higher diagnosis and treatment rates for diabetes coupled with high adoption of ambulatory infusion pumps. Key Prominent Players Covered in the Infusion Pumps Market Research Report Are Medtronic, BD, Baxter, Insulet Corporation, icumedical, B. Braun Melsungen AG, Smiths Medical (Smiths Group plc.), Fresenius Kabi AG, Terumo Corporation and other key market players.
KEY INDUSTRY DEVELOPMENTS:
October, 2019- Novo Nordisk A/S announced that USFDA has expanded the label for Fiasp (insulin aspart injection) 100 u/ml to include use in insulin Infusion Pump for the improvement of glycemic control in adults with type 1 or type 2 diabetes
July 2019 – Medical device company Ivenix, Inc. received approval for a new smart infusion pump designed to safety issues endemic to industry with more streamlined and intuitive technology.
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Market Growth Drivers:
The increasing prevalence of chronic diseases will spur demand for infusion pumps in the forthcoming years. Moreover, the growing advancements in drug delivery systems will boost the infusion pumps market trends during the forecast period.
The increasing adoption of advanced treatment techniques will have a positive impact on the infusion pump market growth in the foreseeable future.
Growing Cases of Cancer and Diabetes to Aid Market Expansion
The increasing incidence of cancer among patients will spur opportunities for the infusion pumps market during the forecast period. According to the World Health Organization (WHO), in 2018, cancer was estimated to be the second most prominent cause of death globally and is responsible for about 9.6 million deaths.
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Cancer patients require chemotherapy which is to be delivered to the patients in a continuous manner which can be achieved by using the infusion pumps. Moreover, the knowledge about the advantages of infusion pumps such as the ability to administer fluids in small dosage and at accurate programmed rates will promote the infusion pumps market revenue.
Furthermore, the growing cases of diabetes will fuel demand for infusion pumps, which in turn, will bolster healthy growth of the market. according to the International Diabetes Federation (IDF), in 2019, the prevalence of diabetes was estimated to be around 463 million cases worldwide.
Favorable Reimbursement Policies to Boost Growth in North America
The market in North America stood at USD 3.41 billion in 2018. The growth in region is attributed to higher diagnosis and treatment rates for diabetes coupled with high adoption of ambulatory infusion pumps.
Moreover, favorable reimbursement policies will aid growth in the region. Europe is predicted to witness steady growth during the forecast period owing to the prevalence of chronic diseases in the region. Asia Pacific is predicted to grow significantly during the forecast period owing to the growing healthcare infrastructure, growing GDP, increasing per capita disposable income.
The increasing awareness about the available advanced therapies will further influence growth in the region. The market in Latin America and the Middle East & Africa is at nascent stage. Nonetheless, focus of leading players towards market presence will augment growth in the regions.
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Lists of Main Companies in the Infusion Pump Market:
B. Braun Melsungen AG
Smiths Medical (Smiths Group plc.)
Fresenius Kabi AG
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Global Infusion Pump Market Segmentations:
· Volumetric Pumps
· Syringe Pumps
· Elastomeric Pumps
· Insulin Pumps
· Enteral Pumps
· Implantable Pumps
· Patient Control Analgesia (PCA) Pumps
· Pain Management
By End User
· Ambulatory Care Settings
· Specialty Clinics
· Home Care Settings
· North America (U.S. and Canada)
· Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· The Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
Number of procedures and average price of procedures
Replacement rate and pricing of capital equipment
Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
Market & technological trends, new product developments, product pipeline.
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