Global Intravenous Infusion Pump Market Forecast To 2023
The global intravenous infusion pumps market is expected to grow from $1.87 billion in 2019 to $2.27 billion in 2020 at a compound annual growth rate (CAGR) of 21.43%. The growth is mainly due to the COVID-19 outbreak that has increased the demand for intravenous infusion pumps to treat the affected patients. The market is then expected to stabilize and reach $2.36 billion in 2023 from 2021 at a CAGR of 1.28%. The rise in the prevalence of chronic diseases is expected to drive the growth of the intravenous infusion pumps market. However, the high cost of intravenous infusion pumps is a key factor hampering the growth of the market
An intravenous infusion pump is a medical device that provides regulated quantities of fluids, such as nutrients and medicines, into the body of the patient.
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The global intravenous infusion pump market is further segmented based on type and geography.
By Product: Volumetric, Syringe, Enteral, Ambulatory, IV Disposables, Others
By End-User: Hospitals, Ambulatory Surgical Centers, Cancer Treatment Centers, Specialty clinics, Others
By Application: Chemotherapy, Diabetes, Gastroenterology, Analgesia/Pain Management, Pediatrics/Neonatology, Hematology, Others.
By Geography: The global intravenous infusion pump market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American intravenous infusion pump market accounts for the largest share in the global intravenous infusion pump market.
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Trends In The Intravenous Infusion Pump Market
Growing technological improvement is a major trend gaining popularity in the intravenous infusion pumps market. Technological advances in infusion pumps have changed medical care in hospitals and allowed patients to inject fluids on an outpatient basis or in a home setting, allowing them to seek treatment while living their daily lives, through the use of smart intravenous infusion pumps. These smart intravenous infusion pumps help prevent medication errors and reduce patient harm.
Intravenous Infusion Pump Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides intravenous infusion pump market overviews, analyzes and forecasts intravenous infusion pump market size and growth for the global intravenous infusion pump market, intravenous infusion pump market share, intravenous infusion pump market players, intravenous infusion pump market size, intravenous infusion pump market segments and geographies, intravenous infusion pump market trends, intravenous infusion pump market drivers and intravenous infusion pump market restraints, intravenous infusion pump market’s leading competitors’ revenues, profiles and market shares. The intravenous infusion pump market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.