New York, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Infusion Pumps and Accessories Global Market - Forecast To 2027" - https://www.reportlinker.com/p04208331/?utm_source=GNW
The use of infusion devices helps in reducing medical errors which would lead to serious life-threatening circumstances or sometimes even to the death of the patient.
The infusion pumps and accessories market is segmented based on products, applications, mode of administration, end-users, and geography. The infusion pumps and accessories products market is segmented into infusion pumps, consumables, software, and servicing, among which infusion pumps commanded the largest share of the market in 2020, and the market is expected to grow at mid single digit CAGR from 2020 to 2027. Infusion pumps are further sub-segmented into external infusion pumps and implantable infusion pumps. The external infusion pumps segment accounted for the largest share in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027. External infusion pumps are further segmented into volumetric infusion pumps, syringe infusion pumps, ambulatory Infusion pumps, disposable infusion pumps, enteral infusion pumps, and insulin infusion pumps. Among external infusion pumps, the insulin infusion pumps segment accounted for the largest share in 2020 and is expected to grow at high single digit CAGR from 2020 to 2027. Consumables are segmented into infusion catheters, infusion sets, cannulas, valves, and others; among which, the infusion catheters segment accounted for the largest share in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027. The applications market is segmented into chemotherapy, gastroenterology, pain management, diabetes, hematology, total parenteral nutrition, antibiotics, IVIg/specialty pharmaceuticals, and others. Among these, the diabetes segment held the largest share in 2020 and the market is expected to grow at mid single digit CAGR from 2020 to 2027.
The mode of administration market is segmented into intravenous, subcutaneous, epidural, Intra-arterial, enteral and others, among these segments, intravenous mode of administration accounted for the largest share in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027. End-users are segmented into hospitals, ambulatory surgical centers, homecare and others. Among them, hospitals commanded the largest segmental share in 2020 and homecare is the fastest-growing segment with high single digit strong CAGR from 2020 to 2027. Hospitals are further segmented into emergency, critical care acute care and general ward, among which, General ward was the largest segment commanding a share in 2020.
Geographically, North America is the largest market, with a share of 48.1% followed by Europe and the Asia Pacific. The APAC region is the fastest-growing region and is expected to grow at high single digit CAGR from 2020 to 2027 presenting an array of growth opportunities and is likely to get the attention of new investors in the infusion pumps and accessories market. Growth in the Asian market is attributed to the rising prevalence of lifestyle diseases such as diabetes and regional government investments in expanding healthcare infrastructure.
Factors such as, increase in the aging population and a subsequent rise in the incidence of chronic diseases, technological innovations offering a wider scope of applications for infusion pumps and an increase in the use of infusion products in home care settings are the factors driving the market growth. The increasing trend for wireless infusion pumps, the emergence of smart pumps, and market expansion in emerging nations are expected to offer potential opportunities.
However, various factors such as patient safety risks and medication errors associated with infusion pumps, an increasing number of infusion pumps product recalls are limiting the growth of infusion pumps and accessories global market. The threats for the infusion pumps and accessories market include lack of cyber-security in wireless infusion pumps and stringent regulatory requirements for new products
Some of the key players of the infusion pumps and accessories market are Medtronic PLC (Ireland), Insulet Corporation (U.S.), Baxter International, Inc. (U.S.) ICU Medical Inc. (U.S.), Terumo Corporation (Japan), B.Braun Melsungen AG (Germany), Becton Dickinson & Company (U.S.), Tandem Diabetes Care Inc. (U.S.), Fresenius SE & Co. (Germany), and Smiths Medical (U.S.).
Read the full report: https://www.reportlinker.com/p04208331/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
