Market Analysis: Infusion Pump Market Projected to Reach $13B

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Several research reports indicate continued growth for the infusion pump and infusion pump accessories market over the next 10 to 15 years. Infusion pumps are a class of drug delivery devices that have found wide adoption across different application areas, according to a press release.

“Their popularity can be attributed to their reliable, user friendly features and ergonomic design,” according to PR Newswire. “The market has a wide array of different types of infusion pumps (volumetric, syringe, implantable, elastomeric, ambulatory and others); combined, they offer a large range of infusion volume, flow rate, occlusion alarm pressure range and many other technical parameters that can be adjusted according to the patient’s requirements and care areas. These pumps have strengthened their position in a variety of application areas including oncology, diabetes, pain management, enteral feeding and general infusion.”

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Despite the fact that the current market is significantly mature, a number of technological advancements from established and new players have sustained the growth momentum. Companies are continuously on the lookout for new avenues of growth in terms of novel features; this is expected to result in an even wider adoption going forward.

Global Industry Analysts Inc. (GIA), a worldwide business strategy and market intelligence source, issued a press release last year in which its analysts report that the global market for infusion pumps is projected to reach $13 billion by 2022. GIA’s experts indicate that a rise incidence and prevalence of chronic disease, migration of treatment towards home care settings and improving health care infrastructure in emerging markets are all factors benefitting the market.

The analysts at MarketsandMarkets agree that the infusion pump and accessories market will reach new heights in the coming years.

“The global infusion pumps and accessories market is expected to reach $10.2 billion by 2020 at a CAGR (compound annual growth rate) of 5.8 percent during the forecast period,” according to MarketsandMarkets. “Growth in this market is mainly attributed to the increasing prevalence of chronic diseases owing to the rising geriatric population; increasing use of infusion products in home care with favorable reimbursement coverage; and technological improvements in infusion products. However, the stringent product approval process and occurrence of several cases of medication errors associated with infusion pumps (and related product recalls in the recent past) may restrain the growth of the infusion pumps and accessories market during the forecast period. Product innovations focusing on improving the safety features of infusion pumps are at the center of the R&D efforts of leading players in this market.”

Home care is a growing segment, but hospitals remain the largest sector of the market.

“The infusion pumps and accessories market, by end user, is segmented into hospitals, home care, ambulatory surgery centers, and others. The hospitals segment accounted for the largest share – 54.9 percent – of the global infusion pumps and accessories market in 2014. This can be largely attributed to the financial capabilities of hospitals to purchase high-priced infusion devices as well as the availability of trained professionals to operate infusion devices,” according to MarketsandMarkets.    

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