Infusion Therapy Devices Market 2024-2028: Rising Demand, Key Players, and Market Dynamics

The Infusion Therapy Devices Market is projected to grow by USD 21.18 billion between 2024 and 2028, expanding at a CAGR of 8.37%. This growth is fueled by the increasing prevalence of chronic diseases such as cancer, diabetes, and heart disease, alongside advancements in smart infusion devices that enhance patient care through remote monitoring and automated dosing. Despite challenges like high upfront costs, the demand for infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, and blood transfusion sets remains strong across hospitals, homecare settings, clinics, and ambulatory surgical centers (ASCs).

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Market Segmentation

By End-user

• Hospitals: The largest consumer segment, driven by bulk procurement, high patient volumes, and advanced medical infrastructure.
• Homecare Settings: Increasing due to the preference for outpatient care and chronic disease management at home.
• Clinics and ASCs: Growth fueled by minimally invasive procedures and shorter patient stays.

By Product

• Infusion Pumps: Includes chemotherapy infusion pumps, syringe infusion pumps, large volume pumps, elastomeric pumps, and portable infusion pumps.
• Consumables: Comprising needles, catheters, intravenous sets, and filters.
• Accessories: Supporting equipment such as docking stations and connectors.

Regional Market Trends

North America (39% Market Share)

• United States: Increasing adoption of home-based treatments, high healthcare spending, and advanced medical infrastructure.
• Canada: Growth due to rising chronic disease prevalence and government healthcare initiatives.

Europe

• Germany: Leading market in Europe with strong hospital infrastructure and high healthcare investments.
• United Kingdom: Growth driven by favorable reimbursement policies and advancements in infusion therapy devices.

Asia-Pacific

• China: Increasing demand due to aging population and rising diabetes cases.
• Japan: Strong focus on medical technology advancements and robotic-assisted infusion therapies.

Rest of the World (ROW)

• Expanding market in Middle Eastern and Latin American countries due to improving healthcare infrastructure and government initiatives.

Market Dynamics

Drivers

• Growing Chronic Disease Burden: Rising cases of diabetes, cancer, and autoimmune disorders boost demand for infusion therapy devices.
• Technological Innovations: Smart infusion pumps with drug libraries, dose error reduction systems, and remote monitoring capabilities enhance patient care.
• Increased Homecare Demand: Preference for home-based treatments and telemedicine is propelling market growth.

Trends

• Integration of AI & IoT: Smart infusion devices with real-time data analytics improve medication precision and patient safety.
• Portable & Wireless Infusion Pumps: Rising adoption due to enhanced mobility and ease of use for outpatients.

Challenges

• High Procurement Costs: Infusion pumps can range from USD 100 to USD 1,000, posing affordability challenges for patients and healthcare providers.
• Regulatory Hurdles: Strict FDA and EU medical regulations can delay new product approvals.

Key Companies in the Infusion Therapy Devices Market

Some of the key companies of the Infusion Therapy Devices Market are as follows:

• Ace medical
• AngioDynamics Inc.
• Avanos Medical Inc.
• B.Braun SE
• Baxter International Inc.
• Becton Dickinson and Company
• Canafusion Technologies Inc.
• Cardinal Health Inc.
• Chemyx Inc.
• ERENLER MEDIKAL SAN. TIC. LTD. STI.
• Fresenius SE and Co. KGaA
• ICU Medical Inc.
• IRadimed Corp.
• Medtronic
• Poly Medicure Ltd.
• Smith and Nephew plc
• Tekni Plex Inc.
• Teleflex Inc.
• Terumo Corp.
• Vygon SAS

Recent Market Developments

• January 2024: Medtronic launched a next-generation portable infusion pump integrated with AI-based monitoring to enhance medication precision.
• February 2024: Baxter International Inc. announced a partnership with a US-based healthcare provider to expand the availability of smart infusion therapy devices.
• March 2024: Becton Dickinson and Company introduced an advanced syringe infusion pump with automated drug dosage correction.
• April 2024: ICU Medical Inc. secured FDA approval for its wireless-enabled infusion therapy system for enhanced homecare use.
• May 2024: Fresenius SE & Co. KGaA expanded its production facilities in Germany to meet the rising demand for chemotherapy infusion pumps.
• June 2024: Avanos Medical Inc. announced an investment in robotic-assisted infusion therapy devices for improved pain management.