2024 Market Report by Kings Research "Intravenous infusion pumps Market Share and Ranking, Overall Sales and Demand Forecast 2024-2031" provides an extensive examination of Intravenous infusion pumps market attributes, size assessments, and growth projections through segmentation, regional analyses, and country-specific insights, alongside a scrutiny of the competitive landscape, player market shares, and essential business strategies.
Definition:
The market includes devices that precisely deliver precise fluids, medications, and nutrients into the bloodstream. These pumps regulate flow rates with high accuracy, ensuring the controlled administration of critical formulations, including analgesics, chemotherapy drugs, antibiotics, and insulin.
Intravenous infusion pumps market size was valued at USD 5348.2 million in 2023 and is projected to grow from USD 5765.3 million in 2024 to USD 10658.9 million by 2031, exhibiting a CAGR of 9.18% during the forecast period.
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Key Companies in Intravenous Infusion Pumps Market:
- Baxter
- ICU Medical, Inc.
- Fresenius Kabi AG
- Braun Melsungen AG
- Medtronic
- Trivitron Healthcare
- Terumo Corporation
- Mindray Medical International Limited
- Nipro Corporation
- Eitan Medical
- Zyno Medical
- Moog Inc.
- Becton, Dickinson and Company
- Micrel Medical Devices SA
- AdvaCare Pharma
Market Drivers:
Technological Advancements
Recent innovations in IV infusion pump technology have enhanced the safety, accuracy, and efficiency of drug delivery. Modern infusion pumps are equipped with features such as wireless connectivity, dose error reduction systems, and integration with electronic health records (EHRs), improving the accuracy and safety of drug delivery .
Rising Prevalence of Chronic Diseases
The increasing incidence of chronic diseases such as diabetes, cancer, and cardiovascular disorders worldwide is a primary driver fueling the demand for IV infusion pumps. These devices play a crucial role in delivering medications, fluids, and nutrients in controlled dosages, thereby facilitating effective disease management and improving patient outcomes .
Growing Demand for Home-Based Healthcare Solutions
There is a growing preference for home-based healthcare solutions among patients due to factors such as convenience, cost-effectiveness, and the desire for greater independence in managing chronic conditions. IV infusion pumps enable patients to receive necessary treatments in the comfort of their homes, thereby reducing the need for hospital visits and improving overall quality of life.
In August 2023, ICU Medical, Inc. obtained 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Plum Duo infusion pump, integrated with LifeShield infusion safety software. This advanced infusion system has been available in the U.S. since early 2024.
TABLE OF CONTENT
1 INTRODUCTION OF THE GLOBAL INTRAVENOUS INFUSION PUMPS MARKET
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 Data Collection
To be Continued. . . .
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