Infusion Pumps Global Market estimated to be worth $10,239.7 million by 2027

Sep 13 - 2023

Infusion pumps are the therapeutic medical devices used to administer chemotherapy drugs, enteral and parenteral nutrients, insulin, blood and blood components, antibiotics, immunoglobulin and specialty pharmaceuticals to the patients’ using a catheter or small pumps by different modes of administrations like intravenous, subcutaneous, epidural, Intra-arterial, intrathecal, intra-ventricular, and enteral. These pumps play a major role in interruption-free medicine in all clinical settings and are an essential tool in preoperative, critical, postoperative recovery, and pain management care.

According to IQ4I estimation, the infusion pumps and accessories global market is expected to grow at mid single digit CAGR from 2020 to 2027, to reach $14,886.0 million by 2027. Factors such as the increase in the aging population & subsequent rise in the incidence of chronic diseases, technological innovations offering a wider scope of applications for infusion pumps, and 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, increased use 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 the development and approval of new products.

The use of smart, multichannel, and disposable pumps in almost all the therapeutic areas and insulin pumps for diabetes insulin management is the trend of this market, where, smart pumps and wireless infusion pumps are used to avoid the wrong medication administration, dosage errors, and are specially used for infusing very small dosage of medications. Wearable drug delivery platforms such as the Sorrel device by Etian Group (Q-Core Medical) which comes with a pre-filled preloaded platform that enhances user experience and treatment adherence are being launched and the creation of De novo classification for insulin pumps called Alternate Controller Enabled (ACE) pump or “ipumps” by USFDA that will accelerated review, improve availability of intraoperable insulin pumps are some of the upcoming trends in the field of infusion pumps.

The infusion pumps and accessories market is mainly segmented into products, applications, mode of administration, end-users, and geography. The products market is segmented into Infusion pumps, consumables, and Software and services, among them, Infusion pumps accounted for the largest revenue in 2020 and are projected to grow at a mid single digit CAGR from 2020 to 2027, owing to the huge demand for infusion pumps due to increasing chronic illness incidences in the aging population, technological advancements, and increased usage of smart infusion pumps with dosage error reduction software (DERS). The application market is segmented into chemotherapy, gastroenterology, pain management, diabetes, hematology, total parenteral nutrition, antibiotics, IVIg/Speciality pharmaceutical, and others, among them, the diabetes segment commanded the largest share and is expected to grow at a mid single digit CAGR from 2020 to 2027, due to the rising incidence of diabetes in developed and emerging economies, increasing product launches, development of smart insulin pumps and CGM integrated systems. The Mode of administration market is segmented into intravenous, subcutaneous, epidural, intra-arterial, enteral and others, among them, the intravenous segment commanded the largest share in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027, increasing incidence of diabetes in all age group people decreased healthcare costs, improved therapy compliance, increasing trend of self-medication are the factors driving the market growth.

Increasing incidence of diabetes globally, which affects an estimated 472.2 million people, who require continuous monitoring and insulin administration is emerging as one of the major opportunities for market players to invest more in R&D for designing innovative insulin pumps. For instance, In September 2020, the FDA approved the latest automated artificial pancreas system from Medtronic, the MiniMed 770G, for adults and children with Type I diabetes as young as 2 years old.

Based on geography, the infusion pumps and accessories market is divided into North America, Europe, Asia-Pacific, and the Rest of the world. The North American region commanded the largest market revenue in 2020. High investments in healthcare infrastructures and demand for quality services in this market are propelling the market growth. However, the Asia-pacific region is expected to grow at a high single digit CAGR from 2020 to 2027 due to increasing healthcare awareness, improved economic growth, and increasing healthcare funding by the governments.

The overall infusion pumps market is consolidated with the top 8 companies commanding a combined share of XX% of the market. To maintain a competitive edge these companies have adopted different strategies, for instance, recently in 2021 Medtronic introduced the first and only infusion set that can be worn up to 7 days. Similarly, Rusan pharmaceuticals introduced infusion pumps (APOSAN) for the treatment of motor fluctuations (ON-OFF) in patients with Parkinson’s Disease (PD) which is not sufficiently controlled by oral anti-Parkinson’s medication currently available. APOSAN will be available in the form of injections, pens, and continuous infusion pumps. Likewise in August 2020, Ivenix, Inc. developed a smart infusion pump called Epic smart infusion pumps which helps in eliminate infusion-based patient injury.

Among the Infusion pumps and accessories global market, Medtronic is recognized as the global market leader with the largest share of XX% in the overall market and also considered to be the leader in Insulin infusion pumps with a share of XX%. Similarly, Baxter International Inc. is leading in the volumetric infusion pumps market with a share of XX%. Smiths Medical commanded the major share of XX% and XX% in ambulatory infusion pumps and syringe infusion pumps market respectively.

The increase in the number of clinical trials performed year-on-year is expected to drive the infusion pumps market further, analysis by IQ4I research indicate that XX% of clinical trials are in the phase-3 stage, XX% clinical trials in the phase-2/phase-3 stage, XX% clinical trials are in the phase-2 stage, XX% clinical trials are in the phase-1/phase-2 stage, XX% clinical trials are in phase-1 stage and XX% clinical trials are in early phase-1 stage. The majority of clinical trials are focused on diabetes, pain, cancer, Parkinson’s diseases, and respiratory depression, with PCA Pumps, Insulin pumps, and ambulatory pumps. However, the increasing number of product recalls year-on-year is negatively influencing the market, According to IQ4I analysis, product recalls by FDA from 2020 to 2021 include, XX% of class I, XX% of Class II products.

Considering the huge unmet opportunity in this market many investors are funding the various activities such as expansion of business, development of new infusion pump technologies. According to IQ4I analysis, close to $XX million funding was provided starting from January 2020. For instance, in April 2021, CeQur received $XX million in funding from Credit Suisse Entrepreneur Capital Ltd and Endeavour vision to expand their commerical operations.

Technological advancements such as next-generation barcode systems, infusion teletherapy, mechatronic syringe pumps, and the availability of MRI-compatible infusion pumps are positively influencing the infusion pumps market. For instance, in 2020, Codan Argus introduced the next level of Barcode Assisted Infusion (BAI) volumetric infusion pumps with a unique and innovative solution that increases both patient safety and workflow efficiency. It is the safety package for critical treatments, such as the patient with cytostatics for oncology. 

As the COVID-19 started to spread through the world in early 2020, hospitals were overwhelmed with the inflow of patients severely ill from the virus and faced a severe shortage of vital infusion pumps and the increase in demand could not be met by manufacturers as there was a total breakdown of supply chain due to restriction and lockdowns to break the spread of the virus. Various stakeholders responded to this extraordinary situation through innovative means such as manufacturers increasing number of shifts, recruitment of stall and on-sight training, tie-up with multiple vendors. Similarly, the regulatory agencies responded by relaxing the regulations and allowing modifications to devices, and encouragement to develop a remotely operated device to limit the exposure of healthcare workers. On the other hand, the hospitals responded by modifying the placement of the device to reduce contact with ill patients, making changes in the duration of change of IV sets to conserve consumables and use of gravity infusion rather than expensive devices.

Major players in the infusion pumps and accessories  market include 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.).