Volumetric Infusion Pumps Market 2024 Current Status and Challenges with Future Opportunities to 2031

Posted by sagar pawar on May 10th, 2024

The global volumetric infusion pumps market is set to witness robust expansion over the forecast period, with market size expected to surge to US,600 million by 2031, marking a significant increase from the US0 million attained in 2024. This growth trajectory is indicative of a remarkable compound annual growth rate (CAGR) of 7.3% during the forecast period from 2024 to 2031.

For more information: https://www.fairfieldmarketresearch.com/report/volumetric-infusion-pumps-market

Driving Forces

The expansion of the volumetric infusion pumps market is driven by a confluence of factors. The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular disorders necessitates precise and controlled delivery of medications and fluids, thereby boosting the demand for volumetric infusion pumps. Moreover, technological advancements and the evolving healthcare needs of an ageing population further contribute to market growth.

Regional Dynamics

North America maintains its dominance in the market, propelled by high healthcare expenditure and a substantial ageing population. However, the Asia Pacific region emerges as a significant growth hub, fueled by rising incomes, increased healthcare investments, and a growing base of chronic disease patients.

Transformative Trends

Smart and connected infusion pumps are revolutionizing the market landscape, offering features such as remote monitoring and error prevention, which enhance patient safety and treatment efficacy. The integration of Internet of Things (IoT) technology and connectivity features into pump devices enables healthcare providers to remotely monitor infusion parameters, track patient data in real-time, and receive alerts for potential issues.

Key Growth Determinants

The rise in chronic diseases, ongoing technological advancements, and increasing hospitalization rates, particularly among ageing populations, are key factors driving market expansion. Peristaltic and cassette/piston pumps lead the market due to their precise delivery, versatility, and high flow rates.

Challenges and Opportunities

While stringent regulatory requirements, high costs of advanced devices, and concerns about device safety and reliability pose challenges to market growth, the integration of IoT and connectivity features, shift towards ambulatory and home care settings, and expansion in emerging markets present notable opportunities for market players.

Leadership and Innovation

Key players driving innovation and competitiveness in the global volumetric infusion pumps space include B. Braun Melsungen AG, Baxter International Inc., and Fresenius Kabi AG. These industry leaders continually invest in research and development to introduce advanced infusion pump models with enhanced features, while also engaging in strategic collaborations and partnerships to broaden their product portfolios and access new markets.