Intravenous (IV) infusion pumps are widely used in hospitals and other healthcare settings to deliver medications, fluids, and nutrients to patients. The next generation of IV infusion pumps is designed to improve patient safety, reduce errors, and enhance the efficiency of healthcare delivery. The global market for next-generation IV infusion pumps is expected to grow significantly in the coming years due to technological advancements and an increasing demand for healthcare services.
Market Overview:
The global next-generation IV infusion pumps market was valued at $XX billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of XX% during the forecast period (2022-2028). North America is the largest market for next-generation IV infusion pumps, followed by Europe and Asia-Pacific. The growing demand for advanced healthcare services, increasing prevalence of chronic diseases, and the rising geriatric population are driving the growth of the market.
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Market Segmentation:
Worldwide revenue from the next-generation IV infusion pumps market was about US$ 2.8 Billion in 2022, with the global market estimated to surge ahead at a CAGR of 7.2% to reach a valuation of US$ 5.8 Billion by the end of 2033.
As assessed by Persistence Market Research, large volumetric infusion systems hold a market value of US$ 919.3 Million in 2022. overall, next-generation IV infusion pumps market sales account for approximately 6.6% revenue share in the global injectable drug delivery market, which was valued at around US$ 42.0 Billion in 2022.
Based on application, the market can be segmented into chemotherapy/oncology, pain management, pediatrics/neonatology, and others. The chemotherapy/oncology segment is expected to hold the largest share of the market during the forecast period due to the increasing prevalence of cancer and the growing demand for advanced cancer treatments.
By end-user, the market can be segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment accounted for the largest share of the market in 2021, while the ambulatory surgical centers segment is expected to grow at the highest CAGR during the forecast period.
Regional Analysis:
North America is the largest market for next-generation IV infusion pumps, followed by Europe and Asia-Pacific. The presence of a well-established healthcare infrastructure, increasing adoption of advanced technologies, and a growing geriatric population are driving the growth of the market in North America. Europe is the second-largest market for next-generation IV infusion pumps, driven by the increasing prevalence of chronic diseases and the growing demand for advanced healthcare services. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing investments in healthcare infrastructure, rising disposable incomes, and growing awareness about advanced healthcare technologies.
Key Players:
The key players operating in the next-generation IV infusion pumps market include Becton, Dickinson and Company, B. Braun Melsungen AG, Fresenius SE & Co. KGaA, ICU Medical, Inc., Terumo Corporation, Smiths Medical, Inc., Medtronic plc, Baxter International Inc., Hospira, Inc., and Roche Diagnostics.
Conclusion:
The global next-generation IV infusion pumps market is expected to grow significantly in the coming years due to technological advancements and an increasing demand for healthcare services. The market can be segmented based on product type, application, end-user, and geography. North America is the largest market for next-generation IV infusion pumps, followed by Europe and Asia-Pacific. The key players operating in the market include Becton, Dickinson and Company, B. Braun Melsungen AG, Fresenius SE & Co. KGaA, ICU Medical, Inc., Terumo Corporation, Smiths Medical, Inc., Medtronic plc, Baxter International Inc., Hospira, Inc., and Roche Diagnostics.