PUBLISHER: The Business Research Company | PRODUCT CODE: 1414179
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414179
“Drug Infusion Systems Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on drug infusion systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for drug infusion systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The drug infusion systems market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Drug infusion systems, classified as medical devices, are instrumental in delivering medications and fluids into a patient's body through a catheter or needle. This method of administration is commonly employed in hospitals, clinics, and various healthcare settings to dispense medications such as pain relievers, antibiotics, chemotherapy drugs, and fluids to patients.
The primary categories of drug infusion systems encompass elastomeric infusion systems, disposable infusion systems, syringe infusion systems, peristaltic pumps, multi-channel pumps, patient-controlled analgesia (PCA) pumps, insulin pumps, and implantable infusion systems. Elastomeric infusion systems, for instance, are flexible containers designed to provide a consistent rate of medication delivery for short-term infusion therapy. They find application in hospitals, clinics, and home care settings for short-term drug infusion therapy. These systems are versatile, administered through various modes such as intravenous, subcutaneous, arterially, epidurally, and others. They cater to diverse medical applications, including oncology and chemotherapy, diabetes, analgesia, nutrition, hematology, pediatrics, and more. Various end-users, such as hospitals, ambulatory surgical centers, diagnostic centers, and others, utilize elastomeric infusion systems for their respective needs.
The drug infusion systems market research report is one of a series of new reports from The Business Research Company that provides drug infusion systems market statistics, including drug infusion systems industry global market size, regional shares, competitors with a drug infusion systems market share, detailed drug infusion systems market segments, market trends and opportunities, and any further data you may need to thrive in the drug infusion systems industry. This drug infusion systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The drug infusion systems market size has grown strongly in recent years. It will grow from $12.8 billion in 2023 to $13.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%.The expansion observed in the historical period can be ascribed to the transition towards electronic infusion devices, a rise in the prevalence of chronic diseases, advancements in patient care, the adoption of home-based infusion therapy, and the growth of ambulatory care settings.
The drug infusion systems market size is expected to see strong growth in the next few years. It will grow to $18.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be linked to a shift towards disposable systems, a rising prevalence of chronic diseases, the expansion of ambulatory care facilities, the adoption of personalized medicine and adaptive dosing, and an increasing demand for home-based care. Noteworthy trends in the forecast period encompass wireless connectivity and remote monitoring, integration with electronic health records (EHR), the implementation of smart pump technology, the adoption of personalized and adaptive dosing, and the utilization of minimally invasive infusion techniques.
The anticipated growth in the drug infusion system market is expected to be propelled by the increasing prevalence of chronic diseases. Chronic conditions such as cancer, diabetes, cardiovascular diseases, and autoimmune disorders often necessitate long-term or continuous infusion therapy. Drug infusion systems provide a secure, efficient, and effective means of administering medication to patients with these conditions. The prevalence of chronic diseases is rising more rapidly in low- and middle-income countries compared to high-income nations. Diabetes, for example, is a significant contributor to renal failure, heart attacks, strokes, blindness, and lower limb amputation. According to the International Diabetes Federation (IDF), in 2021, 537 million adults aged between 20-79 were living with diabetes (1 in 10 individuals), and this number is projected to reach about 643 million by 2030 and 783 million by 2045. Therefore, the increasing demand due to the rising prevalence of chronic diseases is a driving factor for the growth of the drug infusion system market.
The growth of healthcare expenditure is expected to drive the expansion of the drug infusion systems market. Healthcare expenditure refers to the total amount spent on healthcare goods and services within a specific period, typically a year. With increased healthcare expenditures, hospitals, clinics, and other healthcare institutions have more resources to invest in advanced drug infusion systems, leading to a higher demand for these devices. For instance, in July 2022, according to OECD Health Statistics 2022, health spending increased by roughly 6% on average in 2021. Additionally, in May 2022, according to a JPMorgan Chase & Co. report, overall healthcare spending increased by 23% in 2021. Therefore, the upward trend in healthcare expenditure is expected to drive the growth of the drug infusion systems market.
The adoption of advanced drug delivery technologies stands out as a prominent trend in the drug infusion systems market. Leading companies in the market are actively engaged in developing innovative products that incorporate advanced technologies to maintain a competitive position. For example, in June 2021, Ivenix, a medical device company based in the United States, introduced a smart infusion system integrated with an advanced informatics platform. This infusion therapy system by Ivenix features new pump technology that automates secondary infusions, ensuring patients receive the complete prescribed therapy. The system also integrates a state-of-the-art informatics platform, allowing secure access to patient-specific infusion and pump management from any computer or mobile device. It seamlessly integrates with ADT interfacing, alarm notification systems, charge capture solutions, and electronic medical records (EMR) for smooth workflow integration.
Major players in the drug infusion systems market are directing their efforts towards developing innovative products, such as medication delivery systems, to gain a competitive advantage. Medication delivery systems encompass a diverse range of innovative tools and systems designed to enhance the safe, accurate, and efficient administration of medications. For instance, in February 2023, Mindray Medical International Limited, a China-based manufacturer of medical instrumentation, launched the BeneFusion i/u Series Infusion Systems. These systems provide unparalleled accuracy, adaptive customization, and remarkable simplicity, ensuring guaranteed medication safety in various clinical settings. The BolusGUARD motorized syringe loading system with patent-pending automatic clutch technology prevents loading errors, securing every step of the infusion process. The user-friendly interface and intuitive design streamline workflows and enhance the user experience.
In March 2022, Fresenius Kabi, a pharmaceutical company based in Germany, acquired Ivenix Inc. for $240 million. This strategic acquisition aims to expand Fresenius Kabi's portfolio of infusion therapy products and strengthen its position in the infusion system market. The acquisition positions Fresenius Kabi to offer a comprehensive and leading set of premium infusion therapy products for the benefit of patients, customers, and stakeholders. Ivenix, the acquired company, is a medical technology company based in the United States, specializing in the development of infusion systems.
Major companies operating in the drug infusion systems market report are Medtronic plc, Baxter International Inc., ICU Medical Inc., Becton Dickinson and Company, Smiths Group plc, Tandem Diabetes Care Inc., Terumo Corporation, Acromed AG, Halyard Health Inc., Insulet Corporation, Zyno Medical Inc., Braun Melsungen AG, Flowonix Medical Inc., IRadimed Corporation, Moog Inc., Debiotech S.A., Fresenius SE & Co. KGaA, Johnson & Johnson, Hospira, Alaris Health Systems Inc., B. Braun Melsungen AG, Disetronic Medical Systems AG, Accu-Chek, Abbott Diabetes Care Inc., Novo Nordisk A/S, Eli Lilly and Company, Sanofi-Aventis, Ypsomed Holding AG, Valeritas Inc., Proteus Digital Health Inc., Pear Therapeutics Inc., Huma Inc.
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 countries covered in the drug infusion systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The drug infusion systems market consists of sales of smart pumps, syringe pumps, enteral infusion systems, and topical infusion systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.