According to a new study by ReportBuyer, the global infusion pump market was estimated to be worth $8.1 billion in 2016 and is expected to surge to more than $14.7 billion by 2025. The rise in the geriatric population, along with the increased prevalence of chronic diseases, is expected to boost demand for infusion pumps and drive the global market toward rapid growth.

Moreover, the global infusion pump market can be segmented on the basis of product into large volume pumps, enteral pumps, patient-controlled analgesia (PCA) pumps, syringe pumps, insulin pumps, ambulatory pumps, implantable, and more. In 2016, however, large-volume pumps had the highest market share. Further, based on the application type, the market is segmented into diabetes, oncology, analgesia, nutrition, hematology, pediatrics, and others.

On the basis of end users, the market can be segmented into hospitals, home care, ambulatory surgical centers, and more. And the home care market appears to be hotter than ever—with the sector expected to be worth $1.45 billion by 2025.

From a regional basis, however, North America has held the highest share of the global infusion pump market in recent years. ReportBuyer officials largely attribute this fact to the presence of positive government regulations and reimbursement policies in the continent, as well as the rising elderly population. Europe has been trailing North America’s infusion pump market in recent years—although the highest market growth is anticipated for the Asia-Pacific region, due to rising healthcare expenditures and increasing patient awareness in the Asia Pacific.