The Drug Infusion Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Drug Infusion Systems Global Market Report 2024, The drug infusion systems market size has grown strongly in recent years. It will grow from $12.8 billion in 2023 to $13.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to shift to electronic infusion devices, increased prevalence of chronic diseases, patient care advancements, home-based infusion therapy, expansion of ambulatory care settings.
The drug infusion systems market size is expected to see strong growth in the next few years. It will grow to $18.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to shift towards disposable systems, rising prevalence of chronic diseases, expansion of ambulatory care facilities, personalized medicine and adaptive dosing, increasing demand for home-based care. Major trends in the forecast period include wireless connectivity and remote monitoring, integration with electronic health records (ehr), smart pump technology, personalized and adaptive dosing, minimally invasive infusion techniques.
The increasing prevalence of chronic diseases is expected to propel the growth of drug infusion system market going forward. Chronic diseases such as cancer, diabetes, cardiovascular disease, and autoimmune disorders often require long-term or continuous infusion therapy. Drug infusion systems offer a safe, efficient, and effective way to administer medication to patients with these conditions. Compared to high-income countries, prevalence has been increasing more quickly in low- and middle-income nations. Diabetes is a leading factor in renal failure, heart attacks, strokes, blindness, and lower limb amputation. According to the International Diabetes Federation (IDF), in 2021, 537 million adults aged in between 20-79 are living with diabetes (1 in 10 are suffering with diabetes) and this number is expected to reach about 643 million by 2030 and 783 million by 2045. Therefore, rise in demand increasing prevalence of chronic diseases drives the growth of the drug infusion system market.
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The drug infusion systems market covered in this report is segmented –
1) By Product Type: Elastomeric Infusion System, Disposable Infusion System, Syringe Infusion System, Peristaltic Pump, Multi-Channel Pump, Patient-Controlled Analgesia (PCA) Pump, Insulin Pump, Implantable Infusion System
2) By Route Of Administration: Intravenous, Subcutaneous, Arterial, Epidural, Other Routes Of Administration
3) By Application: Oncology And Chemotherapy, Diabetes, Analgesia, Nutrition, Hematology, Pediatrics, Other Applications
4) By End User: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Other End Users
Advanced drug delivery technologies are the key trend gaining popularity in the drug infusion systems market. Major companies involved in the drug infusion systems market are focused on innovating new products through advanced technologies to sustain their position in the market. For instance, in June 2021, Ivenix, a US-based medical device company, launched a new smart infusion system integrated with an advanced informatics platform. Ivenix’s infusion therapy system incorporates new pump technology that automates secondary infusions, ensuring patients receive the complete prescribed therapy. The system also includes a state-of-the-art informatics platform that allows secure access to patient-specific infusion and pump management from any computer or mobile device. It integrates with ADT interfacing, alarm notification systems, charge capture solutions, and electronic medical records (EMR) for seamless workflow integration.
The drug infusion systems market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Baxter International Inc.
- ICU Medical Inc.
- Becton Dickinson and Company
- Smiths Group PLC
- Tandem Diabetes Care Inc.
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