The increased prevalence of chronic diseases and the rising geriatric population has led to the high demand for better medicines and facilities. As per the Arthritis Foundation, the older population in the U.S. affected by arthritis is estimated to grow to 21% by 2040, from the current value of 15%. The rising prevalence of chronic diseases is another factor contributing to the growth of the market.
In the recent years, the prevalence of chronic diseases has been increasing irrespective of the age. As per the World Health Organization (WHO), the global prevalence of diabetes increased to 8.5% in adults over the age of 18 years in 2014 from 4.7% in 1980. The prevalence of genetic diseases and cancer has also witnessed a rise in the recent years. For the continued and improved care of the patients, the drug infusion systems are being extensively used in the hospitals as well as the home care settings.
The U.S. FDA defines an infusion system as a medical device that delivers controlled amounts of fluids such as nutrients and medication.
According to a new market intelligence report by BIS Research, titled "Global Drug Infusion Systems Marke…recast, 2017-2025", the drug infusion systems market was estimated to be $8.10 billion in 2016 and is estimated to grow over $14.71 billion in 2025. The rise in the geriatric population along with the increased prevalence of chronic diseases is expected to boost the demand for drug infusion systems and drive the global market towards rapid growth.
Drug infusion systems provide safe, accurate and precise drug delivery. The market is expected to grow in the future due to technological advancements, higher demand in the developing nations, and increased usage across different therapeutic indication.
The use of drug infusion systems for the treatment of chronic diseases is being widely adopted. The timely administration of medication and the option for the use of such pumps in the home care setting are the advantages for increased adoption of these systems among the elderly population. The ongoing advancements in digital connectivitfy between remote monitoring systems, hospital infusion systems, and infusion devices is another factor indicating growth of the market in the future. Large volume infusion pumps are the dominant products in the market while Patient Controlled Analgesia (PCA) pump is the fastest growing segment.
- The major contributor towards the market in 2016 was large volume infusion systems. The market for large volume infusion systems was estimated to be $2,411.0 million in 2016.
- The highest CAGR was estimated for the PCA infusion systems with a value of 8.5% from 2017 to 2025.
- Hospitals were the major end users with a value of $5,851.2 million in 2016, while the highest CAGR was estimated for homecare setting with a value of 8.4% during the forecast period from 2017 to 2025.
- As per geographical region, the largest contributor to the growth of the global drug infusion systems market was North America in 2016 due to governments’ support as well as favorable reimbursement policies.
Source: BIS Research Analysis
This market intelligence report provides a multidimensional view of the global drug infusion systems market in terms of market size and growth potential. The report also profiles 19 companies including many key players like Becton, Dickinson & Company, Caesarea Medical Electronics Ltd, Debiotech, Medtronic, Flowonix Medical Inc., Fresenius SE & Co. KGaA, ICU Medical, Insulet Corporation, IRADIMED CORPORATION, MOOG, Smiths Group, Tandem Diabetes care, and Terumo Corporation, among others.
Key questions answered in the report:
- What are the major market drivers, challenges, and opportunities in the global drug infusion systems market?
- How did the drug infusion systems market evolve, and what is its scope in the future?
- What was the market share of the leading segments, and sub-segments of the global drug infusion systems market in 2016 and what will be the shares in 2025?
- How will each segment of the global drug infusion systems market grow during the forecast period, and what will be the revenue generated by each of the segments by the end of 2025?
- What are the influencing factors that may affect the market share of the key players?
- What are the key developmental strategies implemented by the key players to stand out in this market?
- What is the infusion systems market value in different countries of the world?
- What will be the growth rate of the insulin infusion systems during the forecast period?
- Which product segment is expected to register the highest CAGR for the drug infusion systems market?
- How has the market been segmented on the basis of application? Which application segment has the largest share, and growth rate in the drug infusion systems market?
- How will the homecare segment among the end users grow in the period 2016-2025?
- Which geographical region will contribute to the highest sales of drug infusion systems?
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