Intravenous Infusion Pump Market 2020 and Forecast 2021-2027

                                          
Report Overview: Intravenous Infusion Pump Market


The global intravenous infusion pump market size was valued at USD 1.4 billion in 2020 and is expected to grow a compound annual growth rate (CAGR) of .8% from 2021 to 2027. Intravenous infusion pumps are used to administer medications, hormones, and nutritional fluids into the circulatory system through veins in controlled amounts. Intravenous infusion pumps are in extensive use in clinical settings such as hospitals, nursing homes, and in the home. The pump is operated by the trained operator by programming the rate and duration of fluid delivery by means of built-in software to deliver nutrients, hormones, antibiotics, chemotherapy drugs, and pain relievers. The key factors driving the growth of the market consists of increased incidences of chronic diseases, rapid flourish seen in the geriatric population, rising surge for ambulatory intravenous infusion pumps, and the burgeoning number of people undergoing surgical procedures.


Intravenous infusion pumps are mainly used to administer critical fluids that include high-risk medication. Most of the intravenous infusion pumps are equipped with safety features and inbuilt alarms for operator alerts intended to activate in the event of a problem. Many conditions such as immune deficiencies, cancer, and congestive heart failure cannot be treated oral medications and require infusion therapy.

While administering medication, vitamins, minerals, amino acids, and varied essential micronutrients can also be added to the infusion for collateral nutrition, which proves yet another benefit of intravenous infusion pumps. Smart pumps are intravenous infusion pumps that are technologically advanced with automation, drug libraries, and various operator and patient safety features for accurate, precise and controlled delivery of fluids into the patient system. Such advanced features are especially beneficial in the treatment of chemotherapy, and this is the reason smart pumps are gaining a lot of popularity in the medical sector.

On the basis of disease indication, chemotherapy is projected to be the fastest-growing segment over the forecast period 2021-2027. According to the WHO, 1.8 million new cases of cancer were reported globally in 2019. However, effective cancer treatments are on the rise which has led to an increase in the number of cancer survivors. Moreover, a report by WHO states that the percentage of the world’s population of over 60 years will double from 12.0% to 22.0% between 2015 to 2050 indicating the rise in geriatric population and their high risk of experiencing many health conditions at the same time, creating a market for intravenous infusion pumps that will play an critical role in dealing emergencies.

Product Insights: Intravenous Infusion Pump Market

The ambulatory intravenous infusion pumps segment held the largest market share of 2.1% in 2019. These intravenous infusion pumps are used to deliver liquid nutrients and medications to a patient in both emergency situations and for chronic conditions as these pumps are widely favored for the delivery of nutrients and medications. The availability of other pumps like Patient Controlled Analgesia (PCA) pumps, insulin pumps, and smart pumps will contribute to the supplementary growth of this segment. The rising demand for enteral and syringe intravenous infusion pumps are contributing to the burgeoning preference of intravenous infusion pump which will also lead to segment growth.

Lately, smart pumps with controlled IV medication and error-prevention software are widely used as these advanced intravenous infusion pumps are equipped with advanced features like the drug libraries, which help in storing the amount of the medicated fluid given to the patient. In addition, its barcode technology, which helps in the verification of a patient’s identity and also helps prevent drug administration errors. On the other hand, implantable infusion pumps are anticipated to register the highest CAGR over the forecast period. Implanted infusion pumps are small devices placed under the skin during surgery that sends liquid pain medicine through a thin tube (catheter) to a specific part of your body. This pump segment is expected to flourish in the latter future as it has a low incidence of infections and a low incidence of delivery system failure during treatment.

Disease Indication Insights: Intravenous Infusion Pump Market

The pediatrics/neonatology segment held the largest market share of 2.7% in 2019. This indicates to the segment which uses intravenous infusion pumps predominantly for their medical procedures requiring the delivery of fluids at a customizable and precise programmed rate.

Conversely, hematology is estimated to be the fastest-growing segment over the forecast period. With the rising incidences of surgeries and blood cancer (hemophilia), the demand for intravenous infusion pumps has seen a surge in hematology for treatments like blood transfusion, is expected to likely increase in the coming years. Intravenous pumps are used for hematology as it is the only way that blood can be transfused into a patient and moreover they are precise, compact, continuous, and the flow can be controlled manually or can be automated, avoiding the risk of failure during the treatment.

Regional Insights: Intravenous Infusion Pump Market

North America lead the intravenous infusion pumps market and accounted for a revenue share of 49.1% in 2019 and this trend is expected to continue throughout the forecast period. Increasing incidence of chronic diseases, increasing number of surgical procedures performed, well developed and increasing R&D, and escalating adoption of advanced technology in intravenous infusion pumps contributed to the growth of the market in this region. In North America alone, there were approximately 17.5 million surgical and minimally invasive plastic procedures performed, as stated by the American Society of Plastic Surgeons in 2017, thus rise in aesthetic procedures like mammoplasty and liposuction is and will be contributing immensely to boost the growth of this market in the coming years.

In Asia Pacific, the market is expected to witness a significant CAGR of 6.4% over the forecast period. This is attributed to lower upfront cost, rising socio-economic factors in developing countries, and ever-escalating incidences of several chronic diseases like cancer, diabetes, cystic fibrosis, and arthritis, which will play a major role in the growth of the market in this region.

Key Companies & Market Share Insights: Intravenous Infusion Pump Market

The global market is highly competitive. One of the key factors driving competitiveness among market players is the shift in technology, automation, and standardized dosing, the extensive adoption of advanced healthcare technology for improved healthcare services. Moreover, major players often opt for geographical expansion in order to retain market share and adopt strategies such as mergers, acquisitions, and new product launches to widen their product portfolio. For instance, Baxter International launched SpectrumIQ, an intravenous infusion pump technology with integrated EMR (Electronic Medical Records) and DeviceVue, an asset tracking software to improve the efficiency of drug delivery. Some of the prominent players in the intravenous infusion pump market include:

Key Companies Profiled    

 	
B. Braun Melsungen AG
 	
Baxter International
 	
Medtronic
 	
Micrel Medical Devices SA
 	
Boston Scientific Corporation
 	
Fresenius Kabi
 	
 Smiths Medical, Inc.
 	
CareFusion Corporation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global intravenous infusion pump market report on the basis of product, disease indication, and region:

Product Outlook (Revenue, USD Million, 2016 - 2027)

Infusion pumps

Volumetric Infusion pumps

Insulin Infusion pumps

Syringe Infusion pumps

Enteral Infusion pumps

Ambulatory Infusion pumps

Patient Controlled Analgesics (PCA)

Implantable Infusion pumps

Others

Disease Indication Outlook (Revenue, USD Million, 2016 - 2027)

Chemotherapy

Diabetes

Gastroenterology

Analgesia/Pain Management

Pediatrics/Neonatology

Hematology

Others

Regional Outlook (Revenue, USD Million, 2016 - 2027)

North America

The U.S.

Canada

Europe

The U.K.

Germany

France

Spain

Italy

Netherlands

Belgium

Switzerland

Russia

Sweden

Asia Pacific

India

Japan

China

Australia

South Korea

Malaysia

Singapore

Philippines

Thailand

Indonesia

Latin America

Brazil

Mexico

Argentina

Colombia

Chile

Middle East & Africa

South Africa

Saudi Arabia

UAE

Israel

Egypt

Frequently Asked Questions About This Report

How big is the intravenous infusion pump market?

b. The global intravenous infusion pump market size was estimated at USD 1.42 billion in 2020 and is expected to reach USD 1.51 billion in 2020.

What is the intravenous infusion pump market growth?

b. The global intravenous infusion pump market is expected to grow at a compound annual growth rate of 5.9% from 2020 to 2027 to reach USD 2.26 billion by 2027.

Which segment accounted for the largest intravenous infusion pump market share?

b. North America lead the intravenous infusion pump market with a share of 49.1% in 2019. This is attributable to increasing number of surgical procedures performed, well developed & increasing R&D, and escalating adoption of advanced technology in infusion pumps.

Who are the key players in intravenous infusion pump market?

b. Some key players operating in the intravenous infusion pump market include Baxter International, B. Braun Melsungen AG; Medtronic; Micrel Medical Devices SA; Boston Scientific Corporation; CareFusion Corporation; Fresenius Kabi; and Smiths Medical.

What are the factors driving the intravenous infusion pump market?

b. Key factors that are driving the market growth include increased incidences of chronic diseases, rapid flourish seen in the geriatric population, rising surge for ambulatory infusion pumps, and the burgeoning number of people undergoing surgical procedures.

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