Major players in the drug infusion systems market are Medtronic PLC., Baxter International Inc., ICU Medical Inc., Becton Dickinson and Company, Smiths Group PLC., Tandem Diabetes Care Inc., Terumo Corporation, Acromed AG, Halyard Health Inc.
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drug Infusion Systems Global Market Report 2023" - https://www.reportlinker.com/p06486470/?utm_source=GNW
, Insulet Corporation, Zyno Medical Inc., Braun Melsungen AG, Flowonix Medical Inc., IRadimed Corporation, Moog Inc., Debiotech S.A. and Fresenius SE & Co. KGaA.
The global drug infusion systems market is expected to grow from $11.93 billion in 2022 to $12.80 billion in 2023 at a compound annual growth rate (CAGR) of 7.31%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The drug infusion systems market is expected to reach $17.20 billion in 2027 at a CAGR of 7.66%.
The drug infusion systems market consists of sales of smart pumps, syringe pumps, enteral infusion systems, and topical infusion systems.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Drug infusion systems are medical devices that are used to deliver medications and fluids into a patient’s body through a catheter or needle. Drug infusion systems are commonly used in hospitals, clinics, and other healthcare settings to administer medications, such as pain relief drugs, antibiotics, chemotherapy drugs, and fluids, to patients.
North America was the largest region in the drug infusion systems market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of drug infusion systems are elastomeric infusion systems, disposable infusion systems, syringe infusion systems, peristaltic pumps, multi-channel pumps, patient-controlled analgesia (PCA) pumps, insulin pumps, and implantable infusion systems.An elastomeric infusion system is a flexible container that delivers medication at a constant rate for short-term infusion therapy and is used for short-term drug infusion therapy in hospitals, clinics, and home care settings.
They are administered intravenously, subcutaneously, arterially, epidurally, and in other modes of administration for various applications such as oncology and chemotherapy; diabetes; analgesia; nutrition; hematology; pediatrics; and other applications by end users including hospitals, ambulatory surgical centers, diagnostic centers, and other end users.
The increasing prevalence of chronic diseases is expected to propel the growth of drug infusion system market going forward.Chronic diseases such as cancer, diabetes, cardiovascular disease, and autoimmune disorders often require long-term or continuous infusion therapy.
Drug infusion systems offer a safe, efficient, and effective way to administer medication to patients with these conditions.Compared to high-income countries, prevalence has been increasing more quickly in low- and middle-income nations.
Diabetes is a leading factor in renal failure, heart attacks, strokes, blindness, and lower limb amputation.According to the International Diabetes Federation (IDF), in 2021, 537 million adults aged in between 20-79 are living with diabetes (1 in 10 are suffering with diabetes) and this number is expected to reach about 643 million by 2030 and 783 million by 2045.
Therefore, rise in demand increasing prevalence of chronic diseases drives the growth of the drug infusion system market.
Advanced drug delivery technologies are the key trend gaining popularity in the drug infusion systems market.Major companies involved in the drug infusion systems market are focused on innovating new products through advanced technologies to sustain their position in the market.
For instance, in June 2021, Ivenix, a US-based medical device company, launched a new smart infusion system integrated with an advanced informatics platform.Ivenix’s infusion therapy system incorporates new pump technology that automates secondary infusions, ensuring patients receive the complete prescribed therapy.
The system also includes a state-of-the-art informatics platform that allows secure access to patient-specific infusion and pump management from any computer or mobile device. It integrates with ADT interfacing, alarm notification systems, charge capture solutions, and electronic medical records (EMR) for seamless workflow integration.
In March 2022, Fresenius Kabi, a Germany-based pharmaceutical company, acquired Ivenix Inc., for $240 million. Through this acquisition, Fresenius Kabi aims to expand its portfolio of infusion therapy products and strengthen its presence in the infusion system market. The acquisition would help Fresenius Kabi provide a comprehensive and leading setup of premium infusion therapy products for the benefit of patients, customers, and stakeholders. Ivenix is a US-based medical technology company that specializes in the development of infusion systems.
The countries covered in the drug infusion systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The drug infusion systems market research report is one of a series of new reports that provides drug infusion systems market statistics, including drug infusion systems industry global market size, regional shares, competitors with a drug infusion systems market share, detailed drug infusion systems market segments, market trends and opportunities, and any further data you may need to thrive in the drug infusion systems industry. This drug infusion systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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