According to a new market report published by Transparency Market Research "Infusion Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global infusion pumps market was valued at USD 5.4 billion in 2012 and is expected to grow at a CAGR of 5.3% from 2013 to 2019, to reach an estimated value of USD 7.8 billion in 2019.
Infusion pumps are used to deliver therapeutic drugs and fluids such as plasma, dextrose and saline solutions,into a patient's body at a precisely controlled rate. These devices are efficiently used for infusion through several routes of administration such as intravenous, epidural, arterial, subcutaneous, peritoneal, enteral and intrathecal. The use of these pumps during treatment of several indications such as diabetes, chemotherapy and in pain management has helped the infusion pumps market to grow in the past decade. With the increasing burden of these diseases across the globe, the market is expected to witness significant growth in the near future.
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A large segment of the global population suffering from diseases such as cancer, diabetes and chronic pain is a major driver for growth of the global infusion pumps market. The demand for more advanced infusion systems from developed nations such as the U.S., Canada, the U.K., France, Germany, Australia, Japan and Singapore is likely to serve as a good opportunity for leading players in the market. However, the quantum growth in infusion pumps market is expected to be driven by developing countries such as India and China which have a large population base and increasing attention towards healthcare infrastructure.
The global infusion pumps market has been segmented on the basis of product types, channel types, application areas, and geographic regions. On the basis of type of device, the market is divided into large volume infusion pumps, disposable infusion pumps, syringe infusion pumps, ambulatory infusion pumps and implantable infusion pumps. In 2012, large volume infusion pumps accounted for the largest share by revenue of the global infusion pumps market followed by disposable infusion pumps. Large volume infusion pumps form the largest product segment in the market due to several advantages such as many application areas, higher accuracy in infusions, wider infusion time range, dose calculation software and the recent trend of wireless integration of infusion data for electronic medical records.
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The report also provides market estimations for application areas where these pumps are being used. The market has been categorized on the basis of application areas into five major segments, namely, clinical nutrition, chemotherapy, analgesia, diabetes and others. In 2012, the clinical nutrition segment shared 31.9% of the global infusion pumps market revenue. The incidence rate of diabetes in the world is increasing, particularly in the affluent countries, and this would significantly drive the market for infusion pumps used in diabetes.
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Geographically, North America was the largest market for infusion devices in 2012 and contributed 44.0% of the global infusion pumps market revenue in the same year. The government initiatives and provision in federal laws such as Patient Care and Affordable Care Act (PPACA) and the Health Information Technology for Economic and Clinical Health (HITECH) Act are further propelling the market. There is an increasing demand for 'smart' infusion pumps in this region and therefore North America shall maintain its leadership in the global infusion pumps market. During the forecast period 2013 to 2019, Asia-Pacific region is expected to grow at a much faster rate than other regions majorly due to the large patient base and increasing incidences of diabetes and cancer. The magnitude of malnutrition in this region is very high which is expected to trigger the demand for infusion pumps for clinical nutrition. Additionally, a significant rise in healthcare expenditure of developing economies such as China and India will continue to boost the demand for infusion pumps in this region.
The global infusion pumps market is dominated by a few major players such as CareFusion Corporation, Hospira, Inc., Baxter International, Inc., Fresenius Kabi AG, B. Braun Melsungen AG, and Terumo Corporation. Several product recalls by the prominent players as well as small companies in the market have deterred the market growth to some extent.
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