Infusion Therapy Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Japan, China - Size and Forecast 2024-2028

Infusion Therapy Devices Market Forecast 2024-2028

The global infusion therapy devices market size is estimated to grow by USD 21.18 billion at a CAGR of 8.37% between 2023 and 2028. 

The market, driven by the escalating prevalence of chronic conditions such as cancer, diabetes, and heart disease, is experiencing rapid growth. These devices, including infusion pumps, intravenous sets, needleless connectors, and more, play a crucial role in administering fluids, electrolytes, and medications to patients with various medical conditions. The International Diabetes Federation (IDF) predicts that the number of individuals with diabetes will reach 700 million by 2045, necessitating IV therapy and vein access for glucose management. Additionally, the surge in cancer cases, projected to reach 28.4 million worldwide by 2040, according to the American Cancer Society, is contributing to the increased demand for infusion therapy devices. This trend is expected to persist, driven by the growing prevalence of chronic diseases and influencing the market's growth in the forecast period.

What will be the size of the Market During the Forecast Period?

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Segmentation by End-user, Product and Geography Analysis

End-user Analysis 

The market share growth by the hospitals segment will be significant during the forecast period. Hospitals are the key end-users that influence market growth. Large hospitals such as multispecialty hospitals and hospital groups work under government sponsorship or through private ownership. These hospitals generally have more than 500 hospital beds, allowing the accommodation of patients within an area. 

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The hospitals segment was the largest and was valued at USD 18.64 billion in 2018. Further, the sales of infusion pumps and monitoring devices in hospitals are expected to increase slowly due to the increasing hospital admittance. Medium-sized hospitals have a limited number of supplier groups. The number of medium-sized hospitals is higher than the number of large hospitals as the former is easily accessible to people. This is expected to increase the sales of therapy devices in medium-sized hospitals. Many people are undergoing treatment in hospitals due to the availability of improved patient care, easy appointment rescheduling, and favourable reimbursement scenarios. This is expected to increase the growth of the hospital segment in the market during the forecast period.

Product Analysis 

In the market, infusion pumps are vital devices used for delivering medications, fluids, or nutrients directly into a patient's bloodstream or tissues in a controlled manner. These pumps come in various types, including ambulatory infusion pumps, syringe pumps, volumetric pumps, and elastomeric pumps, each offering specific features to meet diverse patient needs. Key factors driving the demand in the market include the increasing prevalence of chronic diseases, rising preference for home-based healthcare solutions, technological advancements improving pump functionality and user interface, and efforts to reduce healthcare costs by shifting treatment from hospitals to home settings. As the market continues to expand, infusion pump manufacturers are innovating to enhance pump performance, portability, and safety features, further boosting the growth of the market during the forecast period.

Regional Analysis

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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 market trends and drivers that will shape the market during the forecast period. North America stands out as a significant region characterized by advanced healthcare infrastructure, high adoption rates of home-based medical treatments, and a large patient population with chronic diseases. The region encompasses countries such as the United States and Canada, where the prevalence of chronic conditions such as cancer, autoimmune diseases, and infectious diseases drives the demand. Factors contributing to the growth of the market in North America include increasing healthcare expenditure and favorable reimbursement policies.

Additionally, technological advancements in infusion pumps, remote monitoring devices, and healthcare IT solutions further facilitate the delivery of safe and effective infusion therapy in patients. The presence of established healthcare providers, infusion therapy companies, and pharmaceutical manufacturers in North America fosters competition and innovation, leading to the development of new therapies and delivery methods tailored to the needs of patients. Such factors are expected to drive the regional market growth during the forecast period. 

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Key Market Players 

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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

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.

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

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.

Market Dynamics and Customer Landscape

The market is driven by factors such as advanced disease management, evolving healthcare infrastructure, and a growing geriatric population. Key devices like infusion pumps, needleless connectors, and intravenous sets play a pivotal role. Trends indicate a shift toward electronic ambulatory infusion pumps and disposable options. Challenges include the need for robust regulatory frameworks and ensuring optimal device functionality. As the market expands to address diverse healthcare needs, innovations in pump sets, secondary sets, and extension sets are anticipated. Overall, the market thrives on adapting to evolving healthcare landscapes, ensuring effective and patient-centric infusion therapy solutions. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of trends and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Significant Trends

The emergence of smart infusion therapy devices is an emerging trend shaping the market growth. Smart infusion therapy devices are pivotal for precise medication delivery, minimizing errors related to dosing and administration rates. These devices, like Spectrum IQ by Baxter, integrate with EMRs, boasting drug library compliance and preventing keystroke errors. Technological advancements bring wireless smart therapy devices, allowing remote management and bi-directional communication for seamless data transfer.

Moreover, in the realm of wired and wireless smart syringe pumps, the latter offers enhanced flexibility for simultaneous data retrieval and online reporting. Examples like Perfusor Space showcase integrated safety features, contributing to the prevention of accidents during medication infusion. This evolution in smart technology is set to propel the market, ensuring safer and more efficient healthcare delivery. 

Major Challenges

The high upfront costs associated with infusion pumps and equipment procurement are a significant challenge hindering market growth. Infusion pumps are essential devices used to administer medications, fluids, and nutrients to patients in the home setting. However, the initial investment required to purchase and related equipment can be substantial for both patients and healthcare providers as these equipment can cost around USD 100-USD 1,000. For patients, the high upfront costs may pose a financial barrier, particularly for those with limited financial resources or inadequate insurance coverage. For patients who are already managing chronic illnesses and medical expenses, co-payments, deductibles, and coverage limitations can add to the out-of-pocket costs, even with insurance.

Similarly, healthcare providers face challenges in procuring pumps and equipment due to the significant capital investment required. Small and independent providers may struggle to afford the upfront costs of purchasing or leasing expensive infusion pumps, which can limit their ability to offer therapy services or expand their service offerings. Therefore, the high upfront costs associated may hamper the growth of the market during the forecast period.

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Key Market Customer Landscape

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 and forecasting strategies.

 Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• End-user Outlook
  • Hospitals
  • Homecare settings
  • Clinics and ASCs

• Product Outlook
  • Infusion pumps
  • Consumables
  • accessories

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina 
    • Australia 

Market Analyst Overview 

The market is witnessing significant growth, especially in emerging markets, driven by increasing healthcare services demand and robust medical market research. The market showcases diverse offerings, including stopcocks, IV filters, and blood transfusion sets, catering to varied applications in surgeries within ambulatory care settings. Key segments like large-volume and syringe infusion pumps, as well as disposable ambulatory infusion pumps, demonstrate market segmentation. Patient safety remains paramount, addressing challenges like recalls, adverse drug events, and medication errors. Despite such concerns, the market is expanding into emerging geographies, promoting diabetes management and chronic pain solutions. Integrating smart pumps and enhancing interoperability is crucial for advancing this dynamic market ecosystem, involving distributors, researchers, and end users across specialty and traditional infusion pump segments, diabetes management, analgesia, and ambulatory care settings.

Additionally, the market presents a diverse landscape, encompassing essential components like intravenous filters, large-volume infusion pumps, and patient-controlled analgesia (PCA) infusion pumps. Gravity sets play a crucial role, especially in ambulatory care settings, addressing the prevalence of diabetes and chronic diseases. The market navigates challenges such as recalls, patient safety issues, and the need for integrated smart pumps, aligning with the recommendations of the Institute of Medicine. Healthcare systems and per capita income contribute to market dynamics, while issues like lack of wireless connectivity impact IV infusions and adverse drug events. The market's expansive ecosystem involves research and product developers, focusing on specialty and traditional infusion pumps, diabetes management, analgesia/pain management, and surgical procedures in ambulatory care settings, including ASCs (Ambulatory Surgical Centers).

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, 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 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2024 and 2028
• Precise estimation of the size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

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