Dublin, April 15, 2021 (GLOBE NEWSWIRE) -- The "Global Syringe Pump Market, By Type (Infusion Pump v/s Withdrawal Pump), By Application (ICU, Cardiac Surgery Units, Pediatric Units, Operating Theaters, Others), By End User (Hospitals & Clinics, Ambulatory Care Settings, Others), By Region, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Syringe Pump Market stood at USD19.60 billion in value terms in 2020 and is expected to grow at a CAGR of 7.21% and reach USD29.40 billion by 2026.
The Global Syringe Pump Market is driven by the growing geriatric population suffering from various chronic diseases such as cancer, cardiovascular diseases, renal disorders, among others. This has drastically increased the number of patients and requirement for continuous monitoring of their health. This in turn is anticipated to positively impact the market growth during the next five years.
Additionally, growing number of surgical procedures performed is also expected to foster the growth of the Global Syringe Pump Market. Furthermore, increasing investments and new product launches by the key vendors operating in the market is expected to create lucrative opportunities for the growth of the market through 2026.
The Global Syringe Pump Market is segmented based on type, application, end-user, company, and region. Based on end-user, the market can be fragmented into hospitals & clinics, ambulatory care settings, and others. The hospitals and clinics segment accounted for 55.5% market share in 2020 and this is expected to further grow in the forecast period.
This can be attributed to hospitals' considerable financial resources for buying innovative medical equipment for their patients. Additionally, large patient population coming to the hospitals coupled with the availability of skilled & trained professionals is further anticipated to fuel the growth of segment over the next few years.
Regionally, the Global Syringe Pump Market has been segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa.
Among these, Asia-Pacific is expected to witness the highest growth in the overall syringe pump market owing to the improving healthcare infrastructure in the region. Additionally, growing geriatric population in the region which is suffering from different chronic diseases is further expected to spur the market growth through 2026.
Major players operating in the Global Syringe Pump Market include Becton, Dickinson and Company, B. Braun Melsungen AG, Baxter International Inc., Fresenius Kabi, ICU Medical, Inc., Medtronic plc, Moog Inc., Terumo Corporation, Nipro Corporation, and Mindray Medical International Limited.
The companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Becton, Dickinson and Company
B. Braun Melsungen AG
Baxter International Inc.
ICU Medical, Inc.
Mindray Medical International Limited
Key Target Audience:
Syringe pump manufacturers, suppliers, distributors, and other stakeholders
Government bodies such as regulating authorities and policy makers
Organizations, forums, and alliances related to syringe pumps
Market research and consulting firms
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Global Syringe Pump Market, By Type:
Global Syringe Pump Market, By Application:
Cardiac Surgery Units
Global Syringe Pump Market, By End-User:
Hospitals & Clinics
Ambulatory Care Settings
Global Syringe Pump Market, By Region:
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/kf0no1
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