The global infusion therapy devices market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2022-2028).  The market is backed by factors such growing chronic diseases, such as cancer and diabetes across the globe. The major reason for increasing chronic disease, includes a lack of nutritious diet, physical activities, and aging population.Needles, Infusion pumps, intravenous sets, and docking stations are the mostly used infusion therapy devices in medical applications.A significant rise in the prevalence of diabetes and cancer have witnessed across the globe. For instance, according to Canters for disease control and prevention, each year in the US, more than 1.6 million people are diagnosed with cancer, and nearly 600,000 die from it, making it the second leading cause of death. The cost of cancer care continues to rise and is expected to reach almost $174 billion by 2020.

Moreover, a lack of skilled professionals and limited availability of advanced operating procedures are expected to hinder the market growth. New product developments launched by market players are further aid in market growth. For instance, in February 2022, the American oncology network agreed with InfuSystem Holding Inc. As a part of the agreement, infusystem will provide its ambulatory infusion pumps service, which is equipped with electronic infusion pumps for continuous chemotherapy treatment, 24/7 clinical hotline, biomedical services, and revenue cycle management.   

Impact of COVID-19 Pandemic on Global Infusion Therapy Devices Market

The global infusion therapy devices market was significantly impacted by the COVID-19 pandemic. As infection rates increase across the globe, many healthcare facilities saw declines in elective procedures and certain other visits. This decreases the overall demand for basic healthcare products, including infusion therapy devices. Meanwhile, many facilities have restricted their budgets and they are not in a position to replace pre-existing infusion pumps. 

Segmental Outlook 

The global infusion therapy devices market is segmented on the basis of product type, application, and end-user. Based on the product type,the market is classified into infusion pumps and consumables and accessories. Based on the application, the market is segregated into oncology, diabetes, gastroenterology, analgesia, hematology, and others. The end-user segment is classified into hospitals, home care, and ambulatory surgery centers.  Based on end-user, the hospital segment is expected to grow at the fastest rate. The segmental growth is attributed to various factors such as cost-effectiveness, quick discharge time, less paperwork, and in hospitals people can visit any time for a quick consultation.

Global Infusion Therapy Devices Market Share by Product Type, 2021(%)

Global Infusion Therapy Devices Market to be Driven by Infusion Pumps

Based on product type, the infusion pumps segment is projected to have a significant market share during the forecast period. The market is growing due to the increasing application of infusion pumps in cancer and other chronic diseases. The majority of the infusion pumps are directed by software that controls the pumping mechanism and other key safety functions. These devices are widely used in hospitals, clinics, and ambulatory care settings for cancer therapy. These pumps are used to deliver a controlled amount of chemotherapy drugs at a slow pace into the patient’s bloodstream.This results in driving the demand for chemotherapy pumps, which is referred to as infusion pumps.

Regional Outlooks

The global infusion therapy devices market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The European region is estimated to grow at the fastest rate in the coming year. The growth is attributed to placing greater emphasis on utilizing the best standards of practice to treat patients and emphasis on purchasing more advanced devices. With the availability of advanced technological devices and rising disposable income the infusion therapy devices market is attained an accelerated growth in the European region.

Global Infusion Therapy Devices Market Growth, by Region 2022-2028

Asia-Pacific Expected to Propel with Significant Growth in the Global Infusion Therapy Devices Market

Geographically, Asia-Pacific is estimated to have significant growth in the global infusion therapy devices market during the forecast period. The rising prevalence and incidence of chronic disease in the region are the major factors contributing to the growth of the market. According to National Cancer Registry Programme, India, the projected number of patients with cancer in India was 1,392,179 for the year 2020, and the common 5 leading sites are breast, lung, mouth, cervix uteri, and tongue. Due to such a rise in cancer mortalities, the government is actively working towards developing awareness among people of cancer, which includes conducting awareness campaigns. As a result, it will drive the demand for infusion therapy devices for the treatment of cancer patients in the near future. 

Market Players Outlook

The prominent players contributing globally in the infusion therapy devices market are B. Braun Melsungen AG, Becton, Dickinson and Co., Medtronic PLC, Novartis AG, Terumo Europe NV,Fresenius SE & Co. KGaA, ICU Medical, Inc., Infuserve America Inc.,  and others. These key manufacturers are adopting various strategies like new product launches, mergers and acquisitions, partnerships and collaborations, and many others to thrive in a competitive environment and to fullfil the growing demands. For instance, in June 2021, Baxter Healthcare unveiled an agreement with Micrel Medical Devices, for the distribution of the Micrel Mini Rthymic PN+ fusion pump for parenteral nutrition(PN). Micrel Mini Rythmic PN+ is an ambulatory infusion pump, that supports patients with hospital-in-the-home parenteral nutrition. Moreover, this partnership support patients in Australia and new Zealand.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global infusion therapy devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.