DUBLIN--(BUSINESS WIRE)--The "Drug Infusion Systems Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The drug infusion systems market has grown strongly in recent years. It will grow from $12.8 billion in 2023 to $13.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The drug infusion systems market is expected to see strong growth in the next few years. It will grow to $18.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
The expansion observed in the historical period can be ascribed to the transition towards electronic infusion devices, a rise in the prevalence of chronic diseases, advancements in patient care, the adoption of home-based infusion therapy, and the growth of ambulatory care settings.
The anticipated growth in the forecast period can be linked to a shift towards disposable systems, a rising prevalence of chronic diseases, the expansion of ambulatory care facilities, the adoption of personalized medicine and adaptive dosing, and an increasing demand for home-based care. Noteworthy trends in the forecast period encompass wireless connectivity and remote monitoring, integration with electronic health records (EHR), the implementation of smart pump technology, the adoption of personalized and adaptive dosing, and the utilization of minimally invasive infusion techniques.
The anticipated growth in the drug infusion system market is expected to be propelled by the increasing prevalence of chronic diseases. Chronic conditions such as cancer, diabetes, cardiovascular diseases, and autoimmune disorders often necessitate long-term or continuous infusion therapy. Drug infusion systems provide a secure, efficient, and effective means of administering medication to patients with these conditions. The prevalence of chronic diseases is rising more rapidly in low- and middle-income countries compared to high-income nations.
Diabetes, for example, is a significant contributor to renal failure, heart attacks, strokes, blindness, and lower limb amputation. According to the International Diabetes Federation (IDF), in 2021, 537 million adults aged between 20-79 were living with diabetes (1 in 10 individuals), and this number is projected to reach about 643 million by 2030 and 783 million by 2045. Therefore, the increasing demand due to the rising prevalence of chronic diseases is a driving factor for the growth of the drug infusion system market.
The growth of healthcare expenditure is expected to drive the expansion of the drug infusion systems market. Healthcare expenditure refers to the total amount spent on healthcare goods and services within a specific period, typically a year. With increased healthcare expenditures, hospitals, clinics, and other healthcare institutions have more resources to invest in advanced drug infusion systems, leading to a higher demand for these devices.
The adoption of advanced drug delivery technologies stands out as a prominent trend in the drug infusion systems market. Leading companies in the market are actively engaged in developing innovative products that incorporate advanced technologies to maintain a competitive position. For example, in June 2021, Ivenix, a medical device company based in the United States, introduced a smart infusion system integrated with an advanced informatics platform.
This infusion therapy system by Ivenix features new pump technology that automates secondary infusions, ensuring patients receive the complete prescribed therapy. The system also integrates a state-of-the-art informatics platform, allowing secure access to patient-specific infusion and pump management from any computer or mobile device. It seamlessly integrates with ADT interfacing, alarm notification systems, charge capture solutions, and electronic medical records (EMR) for smooth workflow integration.
Major players in the drug infusion systems market are directing their efforts towards developing innovative products, such as medication delivery systems, to gain a competitive advantage. Medication delivery systems encompass a diverse range of innovative tools and systems designed to enhance the safe, accurate, and efficient administration of medications.
North America was the largest region in the drug infusion systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global drug infusion systems market report during the forecast period. The regions covered in the drug infusion systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the drug infusion systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Topics Covered:
1. Executive Summary
2. Drug Infusion Systems Market Characteristics
3. Drug Infusion Systems Market Trends and Strategies
4. Drug Infusion Systems Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Drug Infusion Systems Market Size and Growth
5.1. Global Drug Infusion Systems Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Drug Infusion Systems Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Drug Infusion Systems Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Drug Infusion Systems Market Segmentation
6.1. Global Drug Infusion Systems Market, Segmentation by Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Elastomeric Infusion System
- Disposable Infusion System
- Syringe Infusion System
- Peristaltic Pump
- Multi-Channel Pump
- Patient-Controlled Analgesia (PCA) Pump
- Insulin Pump
- Implantable Infusion System
6.2. Global Drug Infusion Systems Market, Segmentation by Route of Administration, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Intravenous
- Subcutaneous
- Arterial
- Epidural
- Other Routes of Administration
6.3. Global Drug Infusion Systems Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Oncology and Chemotherapy
- Diabetes
- Analgesia
- Nutrition
- Hematology
- Pediatrics
- Other Applications
6.4. Global Drug Infusion Systems Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Centers
- Other End Users
7. Drug Infusion Systems Market Regional and Country Analysis
7.1. Global Drug Infusion Systems Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Drug Infusion Systems Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
- Insulet Corporation
- Zyno Medical Inc.
- Braun Melsungen AG
- Flowonix Medical Inc.
- IRadimed Corporation
- Moog Inc.
- Debiotech S.A.
- Fresenius SE & Co. KGaA
- Johnson & Johnson
- Hospira
- Alaris Health Systems Inc.
- B. Braun Melsungen AG
- Disetronic Medical Systems AG
- Accu-Chek
- Abbott Diabetes Care Inc.
- Novo Nordisk A/S
- Eli Lilly and Company
- Sanofi-Aventis
- Ypsomed Holding AG
- Valeritas Inc.
- Proteus Digital Health Inc.
- Pear Therapeutics Inc.
- Huma Inc.
For more information about this report visit https://www.researchandmarkets.com/r/95p5ew
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