Market Trends of Infusion Pumps And Accessories Industry
Volumetric Infusion Pumps Segment Is Expected to Witness a Significant Growth Over the Forecast Period
Volumetric infusion pumps have many applications in disease management and parenteral nutrition. The safety, accuracy, and simplicity of volumetric infusion pumps in treating many therapeutic areas contribute to the high demand for these pumps. The volumetric infusion pump segment is expected to witness significant growth owing to the rise in blood and drug transfusion cases and the increase in strategic product launches by the key players.
The increasing number of injuries and trauma cases is expected to raise the demand for drug infusions, which is anticipated to drive the growth of the segment over the study period. For instance, the Road Safety Observatory report published in February 2022 stated that the number of injury accidents recorded by police forces in France was 3,728 in January 2022, which was higher than that of 2021 (3,508). The rising burden of road accidents leads to blood loss and creates the need for emergency transfusion, further projected to boost the segment growth over the forecast period.
Furthermore, the advancements and the emergence of innovative volumetric pumps, along with the increase in regulatory approvals, are expected to bolster segment growth. For instance, in March 2022, Fresenius Kabi received regulatory clearance from the FDA for its wireless Agilia connect infusion system, which includes the Agilia volumetric pump and the Agilia syringe pump with the vigilant software suite Vigilant Master Med technology. The Agilia Connect volumetric pump and syringe pump is one of the first to be cleared by following TIR101 standards developed by the Association for the Advancement of Medical Instrumentation (AAMI) in 2021.
Additionally, the major players are focusing on research and development activities, which is expected to boost the growth of the market segment. For instance, in November 2021, Zealand Pharma and DEKA Research & Development Corp. signed an agreement to advance the development of an infusion pump that can be used with glucagon for the treatment of congenital hyperinsulinism (CHI).
Thus, due to the aforementioned factors, such as the rising prevalence of chronic diseases and technological advancement, the studied segment is expected to witness healthy growth over the study period.
North America is Anticipated to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share in the infusion pumps and accessories market owing to the surge in chronic disorders, high healthcare expenditures, the increasing surgical treatments for chronic diseases, the increased R&D expenditure, and the presence of key players in the region. For instance, according to the data published by the CDC in July 2022, the cesarean delivery rate in the United States increased to 32.1% in 2021 from 31.8% in the previous year. Thus, the rising number of cesarean section surgeries is expected to boost the usage of infusion bags and accessories for blood and other drug delivery purposes, fueling market growth.
Moreover, blood transfusions are crucial in the treatment of cancer because they assist the body in getting healthy blood cells. Additionally, certain malignancies (particularly those of the digestive system) result in internal bleeding, which worsens anemia and the patient's condition. Thus, a high burden of cancer cases is expected to utilize infusion pumps and related accessories. For instance, according to the 2022 statistics published by the Canadian Cancer Society, about 233,900 cancer cases were diagnosed in Canada in 2022. Therefore, the high burden of cancer cases is expected to surge the demand for infusion pumps and accessories, leading to market growth over the study period.
Furthermore, the rising strategic activities by the key players, such as product launches, agreements, and collaboration in the North American region, are expected to bolster market growth over the forecast period. For instance, in November 2022, Medtronic plc launched an extended infusion set, one of the first infusion sets labeled for up to 7-day wear in the United States. The Medtronic Extended infusion set utilizes advanced materials that help reduce insulin preservative loss and maintain insulin flow and stability to double the wear time of an infusion set. Similarly, in May 2021, Smiths Medical partnered with Ivenix, Inc. to offer a comprehensive suite of infusion management solutions for healthcare needs in the United States.
Thus, due to the high prevalence of chronic diseases and strategic product launches by the key players, North America is expected to witness significant market growth over the study period.
