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The infusion therapy devices market size is forecast to increase by USD 21.18 billion at a CAGR of 8.37% between 2023 and 2028. The market in the US is witnessing significant growth due to the increasing prevalence of chronic diseases, leading to a higher demand for infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, and blood transfusion sets. The emergence of smart infusion therapy devices, which offer advanced features such as remote monitoring and patient-controlled dosing, is another major trend driving market growth. However, the high upfront costs associated with the procurement of infusion pumps and equipment remain a challenge for healthcare services and disease management providers. Despite this, the market is expected to continue expanding, driven by the need for efficient and effective infusion therapy solutions to manage complex patient conditions.
The market is a significant segment in the medical market, catering to the growing demand for advanced healthcare services. Infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, blood transfusion sets, and various other infusion therapy devices are essential tools in the delivery of intravenous medications, fluids, and blood transfusions. These devices find extensive applications in disease management, pain relief treatment, and clinical settings, including ambulatory surgical centers, homecare, and hospitals. Infusion therapy devices include pumps such as chemotherapy infusion pumps, syringe infusion pumps, large volume pumps, elastomeric pumps, and portable/stationary infusion pumps.
Moreover, needles, catheters, and docking stations are essential components of these devices. Intravenous therapy plays a crucial role in the treatment of chronic disorders and clinical applications, including chemotherapy, mobility, and oral medicines. Infusion therapy devices enable efficient and precise medication delivery, ensuring optimal patient outcomes. The market's growth is driven by the increasing prevalence of chronic disorders, the need for mobility, and the rising demand for homecare services.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The hospitals segment is estimated to witness significant growth during the forecast period. Infusion therapy devices, including catheters, pumps, needles, docking stations, and chemotherapy infusion pumps, are essential medical tools used for pain relief treatment and administering intravenous (IV) and subcutaneous medications. Hospitals, particularly large multispecialty hospitals and hospital groups, are the primary consumers of these devices due to their extensive medical capabilities and high patient volumes. With over 500 hospital beds, these institutions can accommodate a large number of patients and offer various inpatient and outpatient services. They procure medical products and consumables in bulk, maintain close relationships with suppliers, reimbursement authorities, and government organizations, and possess advanced medical infrastructure to cater to complex treatments and surgeries. Infusion therapy devices play a crucial role in delivering effective pain relief and chemotherapy treatments in both inpatient and outpatient settings within these hospitals.
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The hospitals segment was valued at USD 18.64 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market is a major contributor to the global industry, driven by advanced healthcare infrastructure, a large patient population with chronic conditions, and increasing adoption of home-based medical treatments. Countries like the United States and Canada, with high prevalence of diseases such as cancer, autoimmune disorders, and infectious diseases, fuel the demand for infusion therapy devices. Factors propelling the market growth include escalating healthcare expenditure, favorable reimbursement policies, and technological advancements in pumps, remote monitoring devices, and healthcare IT solutions. Infusion therapy devices, including catheters, pumps, docking stations, needles, and chemotherapy infusion pumps, play a crucial role in pain relief treatment through intravenous and subcutaneous methods.
Our infusion therapy devices market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of chronic diseases is the key driver of the market. The market is experiencing significant growth globally due to the rising prevalence of chronic conditions such as cancer, diabetes, and heart disease. Infusion therapy devices play a vital role in healthcare services by enabling the delivery of fluids, electrolytes, and medications to patients. According to the International Diabetes Federation (IDF), the diabetes population is projected to reach 700 million by 2045.
Further, diabetes patients necessitate intravenous therapy and vein access for glucose management, leading to an anticipated growth in demand for IV therapy and vein access during the forecast period. Infusion therapy devices encompass various components, including infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, and blood transfusion sets.
The emergence of smart infusion therapy devices is the upcoming trend in the market. Infusion therapy devices, including infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, blood transfusion sets, play a pivotal role in healthcare services, particularly in disease management. These devices facilitate the precise and accurate delivery of medications, thereby reducing the risk of errors caused by incorrect dosing or administration rates.
Similarly, smart infusion therapy devices, in particular, are equipped with drug libraries and software programs, enabling healthcare professionals to select the desired drug and its concentration from a pre-determined list. The pharmacy department manages the libraries, with inputs from the pharmacy and therapeutics committee. The clinician programs the device, receiving alerts through alarms during any overriding of drug dosages.
The high upfront costs associated with infusion pumps and equipment procurement is a key challenge affecting market growth. Infusion therapy devices, including infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, blood transfusion sets, and related equipment, play a crucial role in healthcare services, particularly for disease management in home settings. Infusion pumps are indispensable tools for administering medications, fluids, and nutrients to patients.
However, the significant investment required to acquire or lease these devices can pose a financial challenge for both patients and healthcare providers. The upfront costs for infusion pumps and associated equipment can range from USD 100 to USD 1,000, which may be a barrier for patients with limited financial resources or inadequate insurance coverage. For those managing chronic illnesses and dealing with medical expenses, additional costs such as co-payments, deductibles, and coverage limitations can add to the out-of-pocket expenses.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AngioDynamics Inc. - The company offers infusion therapy devices such as Pulse Spray infusion system that has pressure response outlets and allows for even distribution of fluid volume, Uni Fuse infusion catheter, a catheter-directed thrombolysis catheter, and SpeedLyser PROTM Infusion System.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Infusion therapy devices play a crucial role in the healthcare industry, particularly in disease management and pain relief treatment. These devices include infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, blood transfusion sets, and various types of pumps such as chemotherapy infusion pumps, syringe infusion pumps, large volume pumps, elastomeric pumps, enteral pumps, and portable infusion pumps. Infusion therapy devices are used in hospitals, clinics, ambulatory surgical centers, and homecare settings for the administration of intravenous and subcutaneous medications for chronic disorders like diabetes, gastrointestinal diseases, cancer, congestive heart failure, Crohn's disease, hemophilia, immune deficiencies, multiple sclerosis, rheumatoid arthritis, and more.
In conclusion, infusion therapy devices are essential for the delivery of nutrition supplies, medication, and pain management in various healthcare settings. They come with user-friendly designs, remote monitoring capabilities, and infection risk reduction features, ensuring patient safety. Needles, catheters, and docking stations are also integral components of these devices. Infusion therapy devices have become increasingly important in home treatment for chronic disorders, offering mobility and convenience for patients. The market for infusion therapy devices is expected to grow due to the rising prevalence of chronic disorders and the increasing focus on patient-centered care. The healthcare infrastructure continues to invest in advanced infusion therapy devices to improve patient outcomes and reduce healthcare costs.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.37% |
Market growth 2024-2028 |
USD 21.18 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.45 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ace medical, AngioDynamics Inc., Avanos Medical Inc., B.Braun SE, Baxter International Inc., Becton Dickinson and Company, Canafusion Technologies Inc., Cardinal Health Inc., Chemyx Inc., ERENLER MEDIKAL SAN. TIC. LTD. STI., Fresenius SE and Co. KGaA, ICU Medical Inc., IRadimed Corp., Medtronic, Poly Medicure Ltd., Smith and Nephew plc, Tekni Plex Inc., Teleflex Inc., Terumo Corp., and Vygon SAS |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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