Infusion Pumps & Accessories Market size is growing at CAGR of 5.6% from 2021 to 2023
The growth of the global infusion pumps & accessories market is majorly driven by increase in prevalence of chronic diseases such as diabetes and gastrointestinal disorders.
The global infusion pumps & accessories market was valued at $6,478 million in 2016, and is estimated to reach $9,512 million at a CAGR of 5.6% from 2017 to 2023.
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“Infusion Pumps & Accessories Market research report delivers a comprehensive study on production capacity, consumption, import and export for all major regions across the world. Report provides is a professional inclusive study on the current state for the market. Analysis and discussion of important industry like market trends, size, share, growth estimates are mentioned in the report.”
Infusion pumps are medical devices employed to deliver medications and fluids into patients body in controlled dosages. They are designed according to the usage; for example, for stationary use, the device is placed at patient bedside, and for ambulatory use, they can be wearable or portable. Infused fluids are various medications that are administered on the basis of patient conditions such as nutrients for eternal feeding, insulin, hormones, antibiotics, and others. Moreover, these pumps are widely used in healthcare settings such as patient, outpatient, private clinics, and at-home settings.
Key findings of the Infusion Pumps and Accessories Market:
Accessories & disposables segment accounted for around three-fourths share of the global infusion pumps and accessories market in 2016.
Ambulatory surgical centers segment is expected to grow at a CAGR of 6.1% from 2017 to 2023.
Diabetes segment accounted for nearly one-fifth share of the global infusion pumps & accessories market in 2016.
North America accounted for around three-fifths share of the global infusion pumps & accessories market in 2016.
LAMEA is expected to grow at the highest CAGR of 6.3% from 2017 to 2023
The accessories & disposables segment contributed the highest share in 2016 and is expected to maintain its lion’s share during the forecast period, owing to increase in applicability, usage, and availability of disposables for infusion therapies. However, the devices & pumps segment would register the highest CAGR from 2017 to 2023.
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Gastroenterology segment occupied the largest share in 2016, and is anticipated to continue its dominance during the forecast period. However, the chemotherapy segment is expected to grow at the highest CAGR from 2017 to 2023. The utilization rate of infusion pumps for hospitals is high; however, home care segment is expected to grow at a high rate during the forecast period. This is attributed to the development of technologically advanced home-based infusion pumps.
North America was the leading revenue contributor to the global infusion pumps & accessories market in 2016, accounting for more than half of the share. This is attributed to the early approval of infusion pumps and high use of these devices due to rise in incidence of chronic diseases. However, Asia-Pacific is expected to grow at the highest CAGR of 6.9% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards infusion pumps.
For more information: https://www.alliedmarketresearch.com/infusion-pumps-accessories-market
The key players analyzed in the research include B. Braun Melsungen AG, Baxter International Inc., Smiths Medical, Fresenius SE & Co., Becton, Dickinson and Company, Johnson & Johnson, CME Medical UK Limited, ICU Medical, Inc., Moog, Inc., and Terumo Corporation. They have implemented various strategies such as expansions, mergers & acquisitions, collaborations, partnerships, and others to gain the stronghold in the industry.
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