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Intravenous Infusion Pump Market Size
Intravenous Infusion Pump Market size exceeded USD 5.5 billion in 2022 and is expected to depict over 5% CAGR through 2023-2032, as a result of the growing prevalence of cancer and other chronic diseases.
Intravenous (IV) therapy is gaining ground to provide greater relief to chronic disease patients when physician-prescribed oral or topical routes fall short. This therapy can bypass obstacles in oral medication administration, as it can be delivered directly into the bloodstream. Non-communicable or chronic diseases including cancer are on the rise globally, mainly due to the adoption of sedentary lifestyles, increased tobacco, alcohol, and cigarette consumption, and other unhealthy habits.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 5.7 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.4% |
| 2032 Value Projection: | USD 9.7 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 357 |
| Segments covered: | Technology, Component, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Likewise, with the availability of skilled healthcare professionals and medical equipment, healthcare expenditure continues to surge, creating growth opportunities for intravenous fluids infusion pump developers. IV infusion pumps are equipped with warning alerts, alarms, and other safety features intended to be activated when issues arise. However, the complexity and multiple steps associated with IV administration may lead to errors and assert a negative influence on intravenous equipment production.
Intravenous Infusion Pump Market Analysis
Intravenous infusion pump market value from the syringe product segment is set to reach over USD 3 billion by 2032, owing to the product’s use as an excellent medicine delivery method for palliative care. Motor-driven syringe pumps with built-in software are gaining widespread adoption in hospitals, clinics, and other medical settings. Apart from ensuring a consistent therapeutic drug administration, this lightweight device allows for mobility. Furthermore, the high comfort, drug delivery in controlled amounts, and other attributes will boost syringe pump sales.
Intravenous infusion pump market size from the gastroenterology segment will cross USD 2.5 billion by 2032. This is considering the product’s effectiveness in ulcerative colitis, Crohn’s disease, and other digestive disorder treatment. According to UT Southwestern researchers, patients with inflammatory bowel disease enrolled in financial assistance programs are less likely to undergo surgery. This delivery of financial support for IBD treatment will escalate the usage of IV infusion pumps to deliver medications when oral medications are intolerant for digestive disease patients, eliminating side effects.
North America held a 36% share of the intravenous infusion pump market in 2022. The strong presence of Becton, Dickinson and Company, Baxter International Inc., and other IV pump developers is among the major growth drivers. The prevalence of bleeding disorders including hemophilia is also increasing, especially among men. Furthermore, chronic diseases have become the leading causes of death and disability. The high disease incidence will boost the rate of hospitalization and consequently accelerate intravenous infusion pump procedures across the region.
Intravenous Infusion Pump Market Share
The competitive landscape of the intravenous infusion pump market comprises companies such as :
- F. Hoffmann-La Roche Ltd.
- Boston Scientific Corporation
- Fresenius Kabi
- Moog Inc.
- Terumo Corporation
- Tandem Diabetes Care, Inc.
- Micrel Medical Devices SA
- Shenzhen ENMIND Technology Co., Ltd.
- Medtronic
- ICU Medical
- IRadimed Corporation
- Becton
- Dickinson and Company, B.
- Braun Melsungen AG
- and Baxter International Inc.
Product portfolio expansions and collaborations are some of the key initiatives being undertaken by these companies to reinforce their market presence.
Impact of Russia-Ukraine war on the intravenous infusion pump market trends
The Ukrainian healthcare system has been severely impacted following the Russian invasion. Multiple health facilities have been destroyed, while the availability of medical care services became limited due to the lack of staff. Cancer therapies and other healthcare services have also been disrupted as a result of the cancellation of long-term therapies. These healthcare disruptions may assert a negative influence on IV infusion pump development across the region. However, efforts by the government to adopt new legislation for healthcare, alongside support from international entities may aid in industry recovery to an extent.
The intravenous infusion pump market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:
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By Product
- Volumetric
- Insulin
- Syringe
- Patient-Controlled Analgesia Pump
- Ambulatory
- Others
By Application
- Oncology
- Pediatrics/Neonatology
- Analgesia/Pain Management
- Diabetes
- Gastroenterology
- Others
By End-use
- Hospital & Clinics
- Homecare
- Ambulatory Surgical Center
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Switzerland
- The Netherlands
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Indonesia
- Thailand
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
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