Infusion system market players and trends analysis by product type, by application, by end user - forecast to 2030
According to Market Research Future (MRFR), the Infusion System Market is anticipated to grow at an 8.9% CAGR over the course of the projected year (2022-2030). The increased use of infusion pumps for medicine administration has had an impact on market expansion globally. A precise, controlled, and automated method of delivering medications and fluids in the form of solutions to a patient's circulatory system is referred to as an infusion system. These apparatuses enable the infusion of many medications, including insulin, antibiotics, painkillers, and chemotherapy treatments.
Market Potential and Pitfalls
The global infusion system is expanding at a breakneck speed owing to the rising use of infusion pumps for drug delivery and other associated fluids, accelerating demand for infusion systems especially in the military medical units, growing prevalence of fatal and chronic diseases, and constant technological advancements from the leading market players. The increased prevalence of chronic diseases is triggering a positive response from the healthcare sector that will intensify the infusion system market growth during the appraisal period. With the overall growth in the population across the globe suffering from cancer, diabetes, and other chronic diseases, the infusion system market is estimated to flourish. A well-developed technology in infusion system helps to eliminate the higher bioavailability, risks associated to the users, and also offers therapeutic effectiveness, growth, and safety in the healthcare spending, thereby contributing to the market growth to a large extent.
Contrarily, it is thought that the market growth in the upcoming years will be negatively impacted by inappropriate infusion that has serious repercussions, patient safety concerns, concerns connected to patient safety, and unmet medical needs in low-income economies.
Competitive Dashboard
The prominent players operating the global infusion system market comprises ICU Medical Inc, Dickinson and Company, Becton, Smiths Medical, B. BRAUN MELSUNGEN AG, 3M, Terumo Medical Corporation, Baxter, and Fresenius Kabi AG.
Global Infusion System Market: Segmental Analysis
The Infusion System Market has been segmented on the basis of product type, application, and end-users.
By mode of product type, the infusion system market has been segmented into Infusion pump, IV disposable, and others. Among these, the IV disposable type occupies the largest market share and is estimated to generate the maximum revenue.
By mode of application, the infusion system market has been segmented into diabetes, chemotherapy, pediatrics, gastrointestinal diseases, and others. Among these, the chemotherapy segment is predicted to occupy the largest market share. The growth is credited to the increased incidences of cancer, the advent of technologically advanced products, and surging availability of ambulatory infusion pumps for chemotherapy.
By mode of end-users, the infusion system market has been segmented into hospitals, homecare, specialty oncology wards, and others. Among these, the hospital's segment is considered to occupy the lion’s share.
Regional Insights
Geographically, the Infusion System Market span across regions namely, North America, Asia Pacific, Europe, and the Middle East Africa.
Considering the global scenario, the North American region commands the largest market share and is anticipated to retain its dominance in the long run. The growth is credited to the constantly advanced technologies in the economies of this region. The well-developed healthcare infrastructure has further contributed to the growth of the market. Major medical equipment providers are taking up several initiatives for new product launch which is further influencing the market growth.
The European region occupies the second spot and is likely to witness a sturdy growth rate in the coming years. The region is highly investing in the infusion pump which is likely to contribute to its growth.
The Asia Pacific region, is estimated to achieve the highest CAGR in the coming years. With emerging nations with developing nations creating huge opportunities for the healthcare industry to expand, the infusion system market is likely to flourish during the appraisal period.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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