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Infusion Pump Market Register CAGR worth 7.3% during 2021-2028; Rising Prevalence of Chronic Disorders and Increasing Development and Research Initiatives to Facilitate Market Growth: Fortune Business Insights™
The global “infusion pump market size” is predicted to reach USD 16.09 billion by 2026, exhibiting a CAGR of 7.1% during the forecast period. The increasing prevalence of chronic diseases will spur demand for infusion pumps in the forthcoming years. Moreover, the growing advancements in drug delivery systems will boost the infusion pumps market trends during the forecast period. The increasing adoption of advanced treatment techniques will have a positive impact on the infusion pump market growth in the foreseeable future.
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Key Players Operating in The Infusion Pump Market Include:
As per the published report by Fortune Business Insights, titled “Infusion Pump Market Size, Share and Industry Analysis, By Type (Volumetric Pumps, Syringe Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Implantable Pumps, and PCA Pumps), By Application (Diabetes, Oncology, Pain Management, and Others), By End User (Hospitals and Clinics, Ambulatory Care Settings, Home Care Settings, and Others), and Regional Forecast, 2019-2026” the market size stood at USD 9.28 billion in 2018. The global infusion pumps market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about market status, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis
Growing Cases of Cancer and Diabetes to Aid Market Expansion
The increasing incidence of cancer among patients will spur opportunities for the infusion pumps market during the forecast period. According to the World Health Organization (WHO), in 2018, cancer was estimated to be the second most prominent cause of death globally and is responsible for about 9.6 million deaths. Cancer patients require chemotherapy which is to be delivered to the patients in a continuous manner which can be achieved by using the infusion pumps. Moreover, the knowledge about the advantages of infusion pumps such as the ability to administer fluids in small dosage and at accurate programmed rates will promote the infusion pumps market revenue.
Over the years, there has been a significant rise in the number of surgical procedures performed across the globe. This can be attributed to the rising geriatric population and the growing prevalence of obesity and other lifestyle diseases. Obesity is one of the key causes of ardiovascular and orthopedic diseases.The risk of coronary heart disease, joint and tissue damage, cancer (of the colon, rostate,endometrium, kidney, and gallbladder), ischemic stroke, and type 2 diabetes mellitus also increases with obesity. Infusion pumps play a critical role in the continuous and controlled medication administration during and after different types of surgeries.
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Favorable Reimbursement Policies to Boost Growth in North America
The market in North America stood at USD 3.41 billion in 2018. The growth in region is attributed to higher diagnosis and treatment rates for diabetes coupled with high adoption of ambulatory infusion pumps. Moreover, favorable reimbursement policies will aid growth in the region. Europe is predicted to witness steady growth during the forecast period owing to the prevalence of chronic diseases in the region. Asia Pacific is predicted to grow significantly during the forecast period owing to the growing healthcare infrastructure, growing GDP, increasing per capita disposable income. The increasing awareness about the available advanced therapies will further influence growth in the region. The market in Latin America and the Middle East and Africa is at nascent stage. Nonetheless, focus of leading players towards market presence will augment growth in the regions.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Infusion Pump Market Size, Share, Technology Development, Growth, Industry Analysis, Forecast to 2029
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