Infusion Pump Market Size, Share, Growth Analysis, By Product(Accessories & Consumables, Devices), By Application(Chemotherapy/Oncology, Diabetes management), By End users(Hospitals, Ambulatory), By Region - Industry Forecast 2024-2031

Global Infusion Pump Market size was valued at USD 16.8 billion in 2022 and is poised to grow from USD 18.01 billion in 2023 to USD 31.41 billion by 2031, growing at a CAGR of 8.2% during the forecast period (2024-2031).

Infusion pumps, including implantable pumps, insulin pumps, and ambulatory chemotherapy pumps, play a crucial role in managing various conditions in home care settings, such as diabetes and cancer. While ambulatory infusion pumps are designed to be wearable or portable, other types of infusion pumps are used to precisely administer fluids like medications, antibiotics, and nutritional solutions in controlled environments. These devices are commonly employed in ambulatory surgery centers, hospitals, infusion clinics, long-term care facilities, and home care settings. The growing prevalence of chronic diseases has led to an increased preference for home healthcare solutions. Rising healthcare expenditures, especially in hospital settings, are also benefiting the global infusion pump market. Additionally, a high demand for infusion systems within the defense industry is anticipated to further drive market growth. The aging population is another significant factor contributing to market expansion, as individuals over the age of 65 often require infusion pumps for medication, hormones, nutrition, and other medical needs. This demographic shift underscores the increasing need for infusion pumps in both home and institutional care settings.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Infusion Pump market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Infusion Pump Market Segmental Analysis

Global Infusion Pump Market is segmented by Product, Setting, Application, and region. Based on Product, the market is segmented into Accessories and Consumables, and devices. Based on Setting, the market is segmented into Hospitals, Home Care Settings, Ambulatory Care Settings, and Academic and Research Institutes. Based on Application, the market is segmented into Chemotherapy/Oncology, Diabetes Management, Gastroenterology, Analgesia/Pain Management, Pediatrics/Neonatology, Hematology, and Other Applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Drivers of the Global Infusion Pump Market

The global increase in surgical procedures can be attributed to an aging population and a rise in obesity and other lifestyle-related disorders. Obesity, in particular, is a significant contributor to various health issues, including cardiovascular and orthopedic diseases. It heightens the risk of conditions such as coronary heart disease, joint and tissue damage, several types of cancer (including breast, colon, prostate, endometrial, kidney, and gallbladder), ischemic stroke, and type 2 diabetes mellitus. Infusion pumps play a critical role in managing and delivering medications during and after surgical procedures. They are essential for the continuous and precise administration of drugs in areas such as chemotherapy, gastroenterology, pain management, and diabetes. Infusion pumps are especially crucial in surgeries such as bariatric procedures, cardiothoracic surgeries, and laparoscopic cholecystectomies, where they are used for administering narcotic analgesics and anesthetics. As the frequency of surgical procedures continues to grow, the demand for infusion therapy is expected to increase correspondingly.

Restraints in the Global Infusion Pump Market

Infusion pumps are designed to deliver liquid medications and other solutions to patients, and they are subject to rigorous standards and regulations to ensure patient safety and health. The approval of new infusion pump products is overseen by various regulatory bodies, including the US Food and Drug Administration (FDA), the Medicines and Healthcare Products Regulatory Agency (MHRA), and the European Medicines Agency (EMA). In Europe, infusion pumps must obtain CE mark approval to be legally marketed and sold. In terms of classification, non-implantable infusion pumps are categorized as Class IIb devices, while implantable infusion pumps are classified as Active Implantable Medical Devices (AIMD). These classifications reflect the level of risk and the regulatory requirements associated with each type of infusion pump, ensuring that they meet stringent safety and efficacy standards before reaching the market.

Market Trends of the Global Infusion Pump Market

The growing prevalence of chronic diseases and the rising costs of hospital-based infusion therapy have spurred significant research and development into home-based infusion solutions. The increasing number of patients with conditions such as diabetes, cancer, and neurological disorders has led to a higher demand for long-term care, often preferred in a home setting. Additionally, the expanding elderly population, which requires ongoing care therapies, is driving the innovation of new products designed for home-based infusion. Leading companies in the market are concentrating on specialized medicine site management. For instance, Ivenix, Inc. introduced the Epic smart infusion pump in August 2020, aiming to reduce infusion-related injuries and enhance patient safety. This development highlights the industry's focus on improving home-based infusion therapy to meet the needs of a growing patient population while managing healthcare costs effectively.