Infusion pumps represent one of the fastest-growing segments in the global medical device market, expected to grow at a compound annual growth rate (CAGR) of 8% between 2019 and 2025, according to a new market report from Reportlinker. The growth rate can be attributed to the prevalence of lifestyle-related diseases such as diabetics, increased surgery volumes, the anesthetic usage in pain management, pediatric neonate nutritional supply, and the rise in cancer patients.
The demand for infusion pumps has increased phenomenally due to the outbreak of COVID-19. With the increase in the number of infections across the world, hospitals are facing a shortage of infusion pumps to treat COVID-19 patients using nebulization support. Therefore, governments are ordering thousands of infusion pumps from manufacturers. With the sudden surge in demand for infusion pumps, both global and domestic players are ramping up their production capabilities to meet the rising demand.
The Reportlinker research report includes a detailed segmentation by product, technology, usage, application, end-users, and geography. In 2019, the volumetric infusion segment accounted for a share of 28%. They are used to provide safe and accurate delivery of intravenous fluid products to patients. The transfusion of a large number of body fluids and electrolytes can only be administered by volumetric infusion pumps; therefore, they are witnessing high application, especially in small and medium-sized hospitals.
The specialty segment dominated the global infusion pumps market and accounted for the largest market shares of 41%. Insulin pumps, enteral feeding, and implantable infusion pumps are considered specialty infusion pumps. The dominant share of this segment can be attributed to the increasing prevalence and incidence of noncommunicable diseases such as diabetes, increased surgery volume, which demand the infusion transfer of medicine, the increase in people suffering from liver cancers, the usage of enteral pumps in neonates born with multiple complications. All these factors are contributing to higher demand in the market.
Find the full report at Reportlinker.