Intravenous Infusion Pump Market Is Expected To Reach $ 9.9 Billion By 2030: Grand View Research Inc.

 San Francisco, 13 July 2023: The Report Intravenous Infusion Pump Market Size, Share & Trends Analysis Report By Product (Volumetric, Insulin, Syringe, Enteral, Ambulatory), By Disease Indication, By Region, And Segment Forecasts, 2023 - 2030

The global intravenous infusion pump market size is expected to reach USD 9.9 billion by 2030 and is expected to expand at 8.3% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The introduction and development of specialty and smart pumps are responsible for the crucial growth of the infusion pump industry. Smart infusion pumps are considered an advancement that will give a boost to the market as it embeds error-reduction software and customized drug libraries. According to a study conducted by Mindray Medical company in 2018, infusion pumps are the most conventional hospital rental equipment.

The rise in diseases like cardiovascular and cancer continues to drive the demand for intravenous infusion pump devices. Intravenous infusion pumps ensure regulated, controlled, and error-free delivery of medications and nutrients. Such processes are essential while treating patients via chemotherapy or radiation therapy. These are very complex processes and require a very precise dosage of medication. The amalgamation of factors like shift in technology, automation, and standardized dosing for intravenous pump devices are anticipated to make therapy more convenient and user-friendly for patients.

The intravenous infusion pumps industry witnessed growth in demand in 2020 due to the COVID-19 pandemic. This was because infusion pumps are the most common medical devices used in health emergencies. As the pandemic burdened healthcare facilities due to increased use, the demand for medical devices like infusion pumps witnessed a major surge. In May 2020, the FDA also issued an umbrella authorization for the emergency use of infusion pumps and infusion pump accessories. This increased use by healthcare providers catered to the increased demand for infusion pumps. 

Access Research Report of Intravenous Infusion Pump Market @ https://www.grandviewresearch.com/industry-analysis/intravenous-infusion-pump-market

Intravenous Infusion Pump Market Report Highlights

• Volumetric infusion pumps emerged as the largest product segment in 2022, owing to the increasing use of delivery fluids such as nutrients and medications during emergencies and treatments like chemotherapy
• The insulin infusion pumps segment is projected to register the highest CAGR over the forecast period as the burden of diabetes increases globally
• The pediatrics/ neonatology segment dominated the market in 2022 in terms of disease indication as there have been growing incidences of premature births, which require optimum care and nutrition
• The Asia Pacific market is projected to witness the fastest growth over the forecast period owing to the increasing number of geriatric and diabetic patients in the region

Intravenous Infusion Pump Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 5.7 billion
Revenue forecast in 2030	USD 9.9 billion
Growth rate	CAGR of 8.3% from 2023 to 2030
Base year for estimation	2022
Actual estimates/Historical data	2018 - 2021
Forecast period	2023 - 2030

 List of Key Players in Intravenous Infusion Pump Market

• Baxter International
• Braun Melsungen AG
• Medtronic
• Micrel Medical Devices SA
• Boston Scientific Corporation
• CareFusion Corporation
• Fresenius Kabi
• Smiths Medical
• Hoffmann-La Roche Ltd.
• Tandem Diabetes Care, Inc.
• Terumo Corporation
• Mindray
• Moog Inc.
• IRadimed Corporation

Access Press Release of Intravenous Infusion Pump Market @ https://www.grandviewresearch.com/press-release/global-intravenous-infusion-pump-market