New York City, NY, 23 March 2020/24 Market Rports: It is estimated for the global infusion pump market to reach USD 18.9 billion by 2025 from an estimated value of USD 13.5 billion in 2020, growing at a CAGR of 7.0% during the forecast period. The increasing incidence of chronic diseases along with the rapid growth in the geriatric population, rising demand for ambulatory infusion pumps, and the growing volume of surgical procedures performed are driving the market during the forecast period.
Accessories & consumables segment is expected to grow at the highest rate
Accessories & consumables and devices are the segmentation for the market based on products. During the forecast period, the accessories & consumables segment is expected to grow at the highest rate. The recurrent use of accessories & consumables and the increasing adoption of infusion pumps for the delivery of medications in a controlled environment are driving the growth in the market.
The insulin pumps market to lead the segment during the forecast period
Volumetric infusion pumps, insulin infusion pumps, enteral infusion pumps, ambulatory infusion pumps, syringe infusion pumps, patient-controlled analgesia (PCA) pumps, and implantable infusion pumps are the segmentation based on product. The increasing prevalence of diabetes, coupled with the growing demand for smart insulin pumps and portable insulin pumps for the management of diabetes at home care settings, is expected to drive the growth of the insulin pumps market during the forecast period.
Diabetes segment to lead the market during the forecast period
Chemotherapy/oncology, diabetes, gastroenterology, analgesia/pain management, paediatrics/neonatology, haematology, and other applications (includes infectious diseases, autoimmune diseases, and diseases of the heart, kidney, lung, and liver) are the segmentation based on application. The increasing prevalence of diabetes and the rising demand for insulin pumps for the management of diabetes in-home care settings is driving the diabetes segment in the market.
North America is leading the growth in the market during the forecast period
North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East & Africa are the segmentation based on geography. North America is leading the growth in the market during the forecast period. The high adoption of speciality infusion pumps for the treatment of chronic diseases, increasing prevalence of chronic diseases, rising geriatric population, and the presence of many large hospitals in the region are the factors driving the market.
