Global Drug Infusion System Market Size Grows Steadily at a CAGR of 6.9%: Straits Research

The key players in the global drug infusion system market are Medtronic, Arcomed AG, Braun Melsungen AG, Baxter, Debiotech S.A., Tandem Diabetes Care, Fresenius SE & Co. KGaA, Halyard Health, Inc, IRadimed Corporation, Insulet Corporation, Becton Dickinson and Company, Terumo Corporation, Smiths Group plc, ICU Medical Inc., MOOG INC. and Others.

/EIN News/ -- New York, United States, April 29, 2024 (GLOBE NEWSWIRE) -- A drug infusion system is a medical device that allows fluids, medicines, and therapeutic substances to be administered directly into a patient's bloodstream in a controlled and regulated manner. These systems are commonly used in various healthcare settings, including hospitals, clinics, ambulatory care, and home healthcare. Drug infusion systems are important in delivering pharmaceuticals and therapies such as chemotherapy, pain management, insulin administration, and antibiotic administration, among others.

The market share of Drug Infusion Systems is expected to grow during the forecast period due to factors such as rising prevalence of chronic diseases such as cardiovascular disease, strokes, cancer, type 2 diabetes, and so on, a growing geriatric population, technological advancements, rising healthcare expenditure, portability and ease of use, and visual monitoring features. Nonetheless, the high cost of drug infusion systems, a scarcity of trained personnel, and tight government regulations are expected to hinder market growth over the forecast period.

Increasing Prevalence of Chronic Diseases Stimulates Market Growth

More people have diabetes and cancer, which require long-term treatment and precise drug delivery. Drug infusion systems give medications continuously and controllably to treat various ailments. Chronic diabetes requires regular monitoring and precise medication delivery. Patients often need insulin infusion to maintain therapeutic blood glucose levels. As diabetes rates rise, so does demand for insulin pumps and other drug infusion devices. Better glycemic management reduces problems. By 2021, 10.5% of adults (20-79 years) will have diabetes, nearly half undiagnosed. IDF estimates that 783 million adults, or 1 in 8, will have diabetes by 2045, a 46% increase. 

Chronic diseases like cancer may require chemotherapy, which may entail IV drug infusions. The ACS predicts 1.9 million additional cancer cases in the US in 2022. Infusion systems are needed since many of these individuals get chemotherapy. Drug Infusion Systems market trend is expected to be influenced by these illnesses.

Home Healthcare Expansion Creates Tremendous Opportunities

Home healthcare is expanding due to the need for more affordable and accessible treatment. Portable, user-friendly, home-based medication infusion devices are popular. In a Journal of Clinical Oncology research, home-treated chemotherapy patients reported higher satisfaction and quality of life than hospital-treated patients. Infusion systems for home use are needed because patients prefer the flexibility and convenience of home care.

Healthcare institutions can save money with home treatment. Home healthcare is often cheaper than hospital or long-term care, according to a NAHC survey.

Drug infusion systems that allow home-based therapy save hospital hospitalizations and expenditures. Advanced remote patient monitoring technologies allow healthcare workers to monitor and control drug infusion systems remotely. Home-based infusion therapy is safer and more successful when patients contact doctors via telehealth and mobile apps.

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Regional Insights

North America is the market's top region because chronic diseases are rising. The region's rising prevalence of chronic diseases like cancer, diabetes, and cardiovascular disease drives the need for medication infusion systems that properly distribute pharmaceuticals. Second, the aging North American population requires infusion pumps and systems for specialized care and long-term drug delivery, fueling market revenue growth. According to the 2018 Heart Disease and Stroke Statistics, 836,546 Americans died from cardiovascular disease. Cardiovascular diseases are common in this region, driving the market growth.

In addition, this region's focus on technology breakthroughs, healthcare developments, and the development of smart pumps and integrated technologies that increase patient safety and treatment outcomes is driving market revenue growth. The country's established healthcare infrastructure and significant industry competitors drive market revenue growth in this area as these companies launch new products and increase market share. 

Europe was estimated to rank second in medicine infusion systems. This European market is growing due to rising chronic disease prevalence, healthcare expenditure, and activities. The OECD reported 550,000 EU working-age deaths from chronic disease in 2016. Chronic disease is common in this region. Hence, the market may develop. Through technology updates and creative infusion device development, healthcare practitioners drive market revenue growth in Europe to improve patient safety and treatment outcomes. As these companies launch new goods and increase their market dominance in Europe, the region's robust healthcare system and huge market competitors improve market revenue.

Key Highlights

• The product types include 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. Disposable infusion systems dominated the market.
  
• The market can be divided into Oncology/Chemotherapy, Diabetes, Analgesia, Nutrition, Hematology, and Pediatrics. Oncology/Chemotherapy has the biggest market share.
• The market is divided into four segments based on the Mode of administration: intravenous, subcutaneous, arterial, and epidural. The most common Mode of administration in the market is intravenous.
• Based on end-users, the market is divided into Hospitals, Ambulatory Surgical Centers, and Diagnostic Centers. Hospitals drove market expansion.
• Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America is the most significant global cosmetic dyes market shareholder and is estimated to grow at a CAGR of 4% over the forecast period.

Market News

• In September 2023, Medtronic Diabetes obtained a CE Mark for its new SimpleraTM CGM, an all-in-one disposable device.
• In September 2023, the European Commission approved Fresenius Kabi's biosimilar Tyenne®* as the first tocilizumab biosimilar.

Global Drug Infusion System Market: Segmentation

By Product Type

• Elastomeric infusion system
• Disposable infusion system
• Syringe infusion system
• Peristaltic pump
• Multi-channel pump
• Patient-controlled analgesia (PCA) pump
• Insulin pump
• Implantable infusion system

By Application

• Oncology/Chemotherapy
• Diabetes
• Analgesia
• Nutrition
• Hematology
• Pediatrics
• Others

By Mode of Administration

• Intravenous
• Subcutaneous
• Arterial
• Epidural
• Others

By End-User

• Hospitals
• Ambulatory Surgical Centers
• Diagnostic centers
• Others

By Region

• North America
• Asia-Pacific
• Europe
• The Middle East and Africa
• Latin America

Get Detailed Market Segmentation @ https://straitsresearch.com/report/drug-infusion-system-market/segmentation

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