The increasing incidence of chronic diseases along with the rapid growth of the geriatric population, rising demand for ambulatory infusion pumps, and the growing volume of surgical procedures performed across the globe are some of the key factors driving the growth of the infusion pumps market. However, the presence of stringent regulations for new products, medication errors associated with infusion pumps (which have resulted in product recalls), and the increasing adoption of refurbished and rental infusion pumps are expected to restrain the growth of this market during the forecast period.
The infusion pumps market is expected to reach USD 20.5 Billion by 2026 from an estimated USD 13.2 Billion in 2021, at a CAGR of 9.3%.
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In 2020, the healthcare industry was one of the hardest hit by the pandemic. Emergency treatments of COVID-19 patients pushed hospitals around the world to the breaking point. At the same time, elective surgeries had to be postponed or even canceled, further straining the already difficult financial situation of many hospitals since a large part of these surgeries are a critical component of covering hospital costs. Manufacturers of medical supplies, medical devices, and drugs were also heavily impacted by the pandemic, with increased demand for products used to treat COVID-19 forcing a ramp-up in production capacity. Supplying the resources necessary for this effort was challenging, as numerous global supply and value chains were interrupted by temporary export restrictions [including personal protective equipment (PPE). At the same time, manufacturers of products for elective surgeries (such as hip and knee implants) experienced considerable decreases in sales, resulting in production stoppages, reduced working hours, and layoffs. On the other hand, infusion pumps and ventilators can be considered critical devices, as these devices are used in ICUs, CCUs, and emergency departments. IV infusion is a common need in COVID wards. Infusion pumps are used in hospitals and other emergency centers to control and deliver doses of medication, and because they can be set to do this without constant supervision, they allow doctors and nurses to treat patients with minimal exposure to infection. Hence, the demand for infusion pumps grew significantly in 2020. This made the supply and distribution of infusion pumps a major challenge. Apart from this, the increasing demand for infusion pumps such as enteral feeding pumps and ambulatory infusion pumps in the home care sector is aiding market growth during this period. On the other hand, players operating in this market are estimating a decline in sales for the devices in the fourth quarter of 2021, which is expected to affect the market growth to a certain extent. The shift in demand towards medical devices has forced key players operating in the market to strategize their manufacturing capabilities, focus on new product development, and seek out optimum supply chain strategies concentrated toward COVID-19 essentials.
The infusion pumps market is consolidated, with a major number of leading market players based in developed countries. Some of the major players in the infusion pumps market are Becton, Dickinson and Company (US), BaxterInternational (US), B. Braun Melsungen AG (Germany), ICU Medical (US), Fresenius Kabi (Germany), Smiths Medical (US), Medtronic PLC (Ireland), Moog Inc. (US), Avanos Medical, Inc. (US), Nipro Corporation (Japan), Terumo Corporation (Japan), Insulet Corporation (US), Ypsomed Holding AG (Switzerland), Tandem Diabetes Care (US), JMS Co., Ltd. (Japan), Micrel Medical Devices SA (Greece), InfuTronix Solutions LLCm (US), Zyno Medical LLC (US), Roche Diagnostics (Switzerland), Teleflex, Inc. (US), Mindray Medical International Limited (China), Epic Medical (Singapore), SOOIL Development Co., Ltd. (South Korea), Shenzhen MedRena Biotech Co., Ltd. (China), and CODAN Medizinische Geräte GmbH & Co KG (Germany). Due to the intense competition in the market, major market players are increasingly focusing on expanding their geographic presence into high-growth emerging markets and strengthening their competitiveness in the market by acquiring smaller players with desired technological capabilities or geographic presence.
Becton, Dickinson and Company (US) is the leader in the global infusion pumps market. The company offers a wide range of products, including volumetric pumps, syringe pumps, and PCA pumps, under its market-leading brand—Alaris. The company also provides dedicated disposables and non-dedicated accessories for infusion products. Over the years, the company has maintained its leading position in the market through continuous innovation and the launch of advanced products. BD consistently improves its product offerings by enabling its infusion products to be ready for data integration with other allied products. BD also collaborates with universities, medical centers, and other entities to conduct R&D programs to support its efforts in specialized fields. The company’s R&D expenditure during 2020, 2019, and 2018 was estimated at USD 1,096.0 million, USD 1,062.0 million, and USD 1,004.0 million, respectively.
Baxter International, Inc. (US) held the second position in the infusion pump market in 2020. The company has one global business unit (GBU), which is sub segmented into Renal Care, Medication Delivery, Pharmaceuticals, Clinical Nutrition, Advanced Surgery, Acute Therapies, and Others. The company offers infusion pumps and related accessories through the Medication Delivery segment. The company has distribution and production facilities in more than 20 countries and markets its products in more than 100 countries. Baxter’s leadership in the market can be attributed to its efficient sales network and expansion strategies in the US, Europe, and Asia. The company focuses on integrating its infusion pumps with hospital networking systems to improve the quality of care and reduce medication errors. In this regard, in September 2017, the company launched the DeviceVue Advanced Asset Tracking System for its Sigma Spectrum Infusion System, which enables clinicians and biomedical engineers to find unused pumps quickly by displaying the location and status of every pump. The company’s R&D expenditures were USD 521.0 million in 2020, USD 595.0 million in 2019, and USD 654.0 million in 2018.
B. Braun Melsungen AG (Germany) held the third position in the global infusion pumps market in 2020. B. Braun offers a wide range of infusion pumps and accessories. Over the years, the company has gained a greater market share through significant investments in expanding its geographic reach. For instance, in April 2018, the company opened five new medical production facilities in Penang, Malaysia. These new facilities will manufacture medical devices for infusion therapy, pharmaceutical solutions, and surgical instruments to treat patients in Malaysia and across the globe. B. Braun has a strong presence in about 64 countries across North America, Europe, the Asia Pacific, Africa, the Middle East, and Latin America. It has 262 consolidated companies across the globe. The firm’s major manufacturing sites are in Germany, Brazil, China, France, India, Malaysia, Poland, Switzerland, Spain, and Hungary.
Based on products, the infusion pumps market has been segmented into accessories & consumables and devices. The accessories & consumables segment accounted for the largest share of the infusion pumps market in 2020. The large share and high growth of this segment can be attributed to the recurrent use of accessories & consumables and the increasing adoption of infusion pumps for the delivery of medications in a controlled environment.
The infusion pump accessories & consumables market is segmented into dedicated and non-dedicated accessories & consumables. The dedicated accessories & consumables segment accounted for the largest share of the infusion pump accessories & consumables market in 2020. The large share of this segment is mainly driven by the requirement of compatible administration sets designed for a particular type of infusion pump by the manufacturer to ensure optimum results of dedicated accessories.
Based on products, the infusion pump devices market is segmented into volumetric infusion pumps, insulin pumps, enteral infusion pumps, ambulatory infusion pumps, syringe infusion pumps, patient controlled analgesia (PCA) pumps, and implantable infusion pumps. The volumetric infusion pumps segment accounted for the largest share of the infusion pump devices market in 2020. Volumetric infusion pumps are widely used to deliver large volumes of fluid to patients. These pumps are capable of delivering fluids, blood transfusions, and total parental nutrition (TPN) to patients at continuous predetermined medium-to-high flow rates. These devices are useful for almost all areas of healthcare and are widely used for IVs.
Based on technology, the infusion pump devices market has been segmented into traditional infusion pumps and specialty infusion pumps market. The traditional infusion pumps segment accounted for the largest share of the infusion pump devices market in 2020. The large share of this segment is mainly due to the wide applications of traditional infusion pumps, their low cost compared to specialty infusion pumps, and their high adoption in hospitals. However, the specialty infusion pumps segment is expected to register the highest CAGR during the forecast period. Technological advancements in infusion pump devices and the increasing adoption of specialty infusion pumps in home care settings and ambulatory care centers are the major factors contributing to the growth of this segment.
Based on applications, the infusion pumps market is segmented into chemotherapy/oncology, diabetes management, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, and other applications (includes infectious diseases, autoimmune diseases, and diseases of the heart, kidney, lung, and liver). The chemotherapy/oncology segment accounted for the largest share of the infusion pumps market in 2020. The large share of this segment can be attributed to the growing incidence of cancer, increasing availability of ambulatory infusion pumps for chemotherapy, and the introduction of technologically advanced products in the market.
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Based on settings, the infusion pumps market has been segmented into hospitals, home care settings, ambulatory care settings, and academic & research institutes. The hospitals segment accounted for the largest share of the infusion pumps market in 2020. The large share of this end-user segment is attributed to the strong financial capabilities of hospitals for purchasing high-priced infusion devices, the large patient pool treated at hospitals, and the availability of trained professionals to operate infusion pumps.
The APAC market is expected to register the highest CAGR during the forecast period. Factors such as the rising geriatric population, growing incidence of chronic diseases, increased accessibility to advanced healthcare facilities, rising healthcare spending, rapidly improving health insurance sector, growing demand for advanced technologies, and expansion of private-sector hospitals to rural areas are fueling the demand for infusion pumps in the APAC region.
