Advancing Technology to Encourage Infusion System Market Growth
Infusion System Market Share, Growth And Trends Analysis By Product Type (Iv Disposable, Infusion Pump, Others); By Application (Chemotherapy, Diabetes, Gastrointestinal Diseases, Pediatrics, And Others); By End User (Hospitals, Specialty Oncology Wards, Homecare) - Forecast To 2027
Market Overview
The global infusion system market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 5%, surpassing a valuation of USD 9.71 billion during the forecast period (2017-2023).
Infusion systems are generally used in hospitals and healthcare service providers to deliver medication and fluids into a patient’s body. These systems help to enhance patient care with control on anesthetics, antibiotics, insulin, and others. Surging demand for volume infusions, which are required for parenteral nutrition and hydration therapy will trigger the demand from the infusion systems market.
Surging levels of environmental pollution across the globe, rising regulations by the government along with the initiatives taken for environmental protection, and rising focus on wastewater treatment are some of the primary growth stimulants of the infusion system market. Infusion pumps are generally used to treat chronic diseases for delivering medication such as diabetic and chemotherapy. Infusion systems play a major role in delivering accurate medication in such disorders. With rising incidences of chronic disorders and rapid development in technology in the healthcare sector, the market is likely to flourish.
On the contrary, the high cost of implantable devices will restrict the growth of the infusion systems market. Moreover, frequent recalls of infusion pumps will hinder the market growth in the foreseeable future.
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Global Infusion System Market: Segmental Analysis
The infusion systems market has been segmented on the basis of type, application, and end users.
By type, the infusion systems market is segmented into syringe pump, volumetric pump, and others.
By application, the market is segmented into diabetes, chemotherapy, pediatrics, gastrointestinal diseases, and others. Of these, the chemotherapy segment accounted for the largest share, mainly due to the surging prevalence of cancer, rising availability of ambulatory infusion pumps for chemotherapy, and the advent of technologically advanced products.
The end users segment comprises ambulatory surgical centers, hospitals, home care, and others. Of these, the hospitals' segment is likely to gain prominence due to the strong financial capabilities of the hospitals to purchase expensive infusion devices, availability of trained professionals to operate infusion pumps, and the presence of large patient population.
Regional Frontiers
Geographically, the infusion system market spans across Europe, North America, Asia Pacific, Europe, and the Middle East & Africa.
Considering the global scenario, North America commands the largest market share, owing to the presence of advanced technologies in the region. The region will surpass a valuation of USD 3.49 billion by the end of 2023.
Europe will acquire the second position in the global market and is estimated to garner USD 3.11 billion by the end of 2023. Increased disease burden in diabetes and oncology, surging geriatric population, and soaring demand for infusion pumps for home care patients are some of the primary growth stimulants of the market in Europe. The surging occurrences of diseases like cancer and diabetes will drive the market’s growth to a large extent.
Meanwhile, the Asia Pacific will emerge as the fastest-growing region due to the presence of continuously developing countries. The regional growth can be credited to the recent developments made in the healthcare sector, coupled with improving economies and increasing per capita income of the population.
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Industry Updates
Aug. 29, 2019: A worldwide leader in advanced infusion therapy solutions, Eitan Group has recently declared a service partnership with InfuSystem Holdings, Inc. The companies will cooperate to provide repair services Eitan Group's suite of infusion systems in Canada and the U.S.
Competitive Dashboard
The top players operating in the infusion system market include B. BRAUN MELSUNGEN AG, 3M, Becton, Baxter, Fresenius Kabi AG, Dickinson and Company, Smiths Medical, ICU Medical, Inc, and Terumo Medical Corporation.
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