The market is expanding as a result of the aged population's increasing prevalence of chronic and lifestyle-related diseases like diabetes, obesity, and others. Since obesity and insulin resistance have been recognised as separate risk factors for diabetes, the region's market for ambulatory infusion pumps is being driven by the region's growing obesity problem. In addition, it is anticipated that the market would be driven in the upcoming years by an increase in the number of surgical procedures and chemotherapy treatments. Its use is expanding due to novel ambulatory pump uses in homes and ongoing technological advancements. Ambulatory pumps have recently been utilised to administer a variety of drugs to treat a range of illnesses and disorders, from diabetes to chronic pain.
RECESSION IMPACT
The recession will have a significant effect on the market for ambulatory infusion pumps. Even though it is anticipated that price inflation will decline in 2023, an increase in interest rates would undoubtedly cause the rate of economic growth to stall significantly. According to IMF predictions, global inflation will decline from 8.8% in 2022 to 6.5% in 2019. Only an 8.1% decline in inflation is anticipated in 2023, which would be less of a comfort to developing economies. Power and raw materials will be pricy for a while. Other factors that contribute to inflation include the partial reversal of globalisation, labour shortages in many Western countries that raise the cost of manufacturing, and the transition to a shared economy in response to the biggest threat to our species.
DRIVING FACTORS
Growing Older Population to Drive Market Growth
Due to the rising frequency of chronic diseases, there is a corresponding rise in the number of senior patients admitted to hospitals as people live longer. Aging impacts fundamental biological mechanisms, making it a significant risk factor for the progression of any disease. The prevalence of chronic diseases like cancer is particularly high among the elderly population; in this age category, people over 65 account for about 60% of all cancer cases. Cancer is particularly difficult to treat in the elderly population since they already have so many health issues as a result of their advanced age. This demonstrates the senior population's rising demand for ambulatory infusion pumps. The need for early disease diagnosis is growing along with the average age of the population and the frequency of chronic diseases. For the treatment of chronic illnesses in old age, there is an increasing demand for care, services, and technologies. Thus, it is anticipated that the ageing population will fuel the expansion of the worldwide ambulatory infusion pumps market.
RESTRAINING FACTORS
High Cost of Ambulatory Infusion Pumps to Limit Market Growth
Chronic disease patients, such as those with acute respiratory distress syndrome, require prolonged hospital stays with frequent mechanical ventilation and medication administration. As a result, these patients consume a significant amount of healthcare resources, and the majority of them are discharged early in the course of treatment because they cannot afford a lengthy stay. Yet, this raises the potential and susceptibility for fresh infections issues, necessitating more healthcare resources and attention. The numerous treatment checkpoints and usage of high-tech modalities for these operations are to blame for the high expense of the treatment. The expense of the ambulatory infusion pump interventions is further increased by the hospital care. The high cost associated with using ambulatory infusion pump systems is predicted to constrain the market for ambulatory infusion pumps because it drives up the price of treatment proportionally as the cost of new and advanced ambulatory infusion pumps increases.
SEGMENTATION
By Product Type
Based on product type, the ambulatory infusion pumps market is segmented into devices and accessories & consumables. The accessories & consumables category dominated the market in 2022. This is mainly because they make repeat purchases and a variety of accessories and consumables are readily available around the region. Besides, almost 40% of the market was accounted for by devices. This is mostly attributable to these pumps' great availability and increased demand due to their convenience in providing medications for a variety of diseases.
By Usage
Based on usage, the ambulatory infusion pumps market is segmented into disposable and reusable. The disposable category dominated the market in 2022. Disposable ambulatory infusion pumps are mobile medical equipment used to continuously or intermittently administer medication, nourishment, or other fluids to patients. Disposable ambulatory infusion pumps provide patients more mobility and flexibility because they are single-use devices that may be worn while they go about their daily lives, unlike conventional infusion pumps. For short-term infusion therapy, such as chemotherapy, pain control, or hydration therapy, disposable ambulatory infusion pumps are frequently utilised.
By Route of Administration
Based on route of administration, the ambulatory infusion pumps market is segmented into intravenous, subcutaneous and epidural. The intravenous category dominated the market in 2022. With intravenous ambulatory infusion pumps, medications, hormones, chemotherapeutic agents, analgesics, and nourishing fluids are given into the circulatory system through the veins in controlled volumes. Many homes, nursing homes, and hospitals employ these pumps. Using built-in software, a skilled operator controls the pump, by setting the rate and duration of the fluid supply.
By Application
Based on application, the ambulatory infusion pumps market is segmented into pain management, diabetes, oncology, neonatology, gastroenterology, general anaesthesia, emergency medicine and others. The diabetes category dominated the market in 2022. This is because diabetes and its effects are becoming more common in the area. A whopping 96 million adults in the United States, or 38.0% of the adult population, have pre-diabetes. An ambulatory infusion pump replaces the requirement for many daily injections with a continuous insulin infusion by dispensing dosages of insulin at predetermined times. As a result, the need for ambulatory infusion pumps is anticipated to increase as the number of diabetes cases rises over time.
By End Users
Based on end users, the ambulatory infusion pumps market is segmented into hospitals, specialty clinics, ambulatory surgical centers, home care settings and others. The home care settings category dominated the market in 2022. The market for ambulatory infusion pumps (such as disposable pumps) in home care settings is expanding as a result of factors like technological developments in infusion pumps that have made it possible to create small, light devices that are simple to carry and use as well as increased awareness and preference for these devices. These factors also aim to cut down on hospital stays.
By Distribution Channel
Based on distribution channel, the ambulatory infusion pumps market is segmented into direct tender and retail sales. The direct tender category dominated the market in 2022. With a direct tender, the buyer contacts a particular supplier or vendors directly rather than going through an open bidding procedure. When the buyer already knows which supplier they wish to engage with or when there is a pressing need to buy a certain good or service, direct tenders may be employed. Direct bids are frequently employed for low-value purchases, such as those for office supplies or equipment, as well as for those that ask for a particular level of experience or technological capability.
REGIONAL INSIGHTS
North America is projected to hold the largest share of the ambulatory infusion pumps market over the forecast period. The development of the ambulatory infusion pumps sector in this area was aided by the rising prevalence of chronic diseases, rising surgical operations, well-developed and expanding R&D, and rising use of cutting-edge ambulatory infusion pumps technology. Because of its extensive healthcare infrastructure, high medical R&D spending, and high disease prevalence, the U.S. owned the biggest market share of the North American ambulatory infusion pumps industry. On the other hand, the Asia Pacific ambulatory infusion pumps market is anticipated to grow significantly. The demand for ambulatory infusion pumps in this region is being fueled by the growing geriatric population, rising incidence of chronic diseases, increased accessibility to cutting-edge healthcare facilities, rising healthcare spending, rapidly improving health insurance sector, growing demand for advanced technologies, and expansion of private-sector hospitals to rural areas.
LIST OF KEY COMPANIES PROFILED:
- B. Braun Melsungen AG
- Baxter
- Moog, Inc.
- WalkMed
- KORU Medical Systems
- Intra Pump Infusion Systems
- AVNS
- ICU Medical, Inc.
- Eitan Medical
- Fresenius Kabi (a subsidiary of Fresenius SE & Co. KGaA)
- Medtronic, Micrel Medical Devices
- Ace-medical
- Others
| Attributes | Details |
| Market Size in 2022 | USD 1.5 Billion |
| Market Forecast in 2030 | USD 2.4 Billion |
| Compound Annual Growth Rate | 7.90 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Product Type, By Usage, By Route of Administration, By Application, By End Users, By Distribution Channel and By Geography |
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| By Usage |
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| By Route of Administration |
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| By Application |
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| By End Users |
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| By Distribution Channel |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
