The growing prevalence of dissimilar cancers, diabetes, and several other chronic diseases demanding intravenous treatment, and the growing adoption of infusion pumps for post-surgery analgesics are some foremost aspects predicted to propel market revenue growth throughout the review duration. Speedy implementation of innovative technologies in infusion pumps is another aspect predicted to propel revenue growth of the market over the review duration.
In addition, the market is predicted to prolong to a considerable growth rate due to the foremost aspects such as the increasing prevalence of chronic diseases, innovations in drug delivery technologies, and the growing adoption of these approaches in emerging economies. According to the SPER market research, ‘Infusion Pump Market by Accessories and Consumables (Dedicated, Non-dedicated), Devices (Volumetric, Insulin, Syringe, Ambulatory), Application (Cancer, Diabetes), & Setting (Hospital, Homecare) – Global Forecast to 2027’ state that the global infusion pumps market is predicted to rise at a CAGR of 8.8% from 2021 to reach 22.06 billion by 2027. The growth is commonly accredited to the prevalence of chronic diseases, the growing geriatric population, the increasing demand for infusion pumps, and the rising number of surgeries that functioned around the world.
The global infusion pump market is observed robust growth due to the growing demand from the healthcare segment. The increasing number of chronic diseases involving diabetes, cancer, and gastroenterological disorders around the globe is predicted to propel the market. In addition, the huge requirement for infusion systems in the defense segment is predicted to propel the industry growth. Speedy implementation of innovative technologies in the field of healthcare, the increasing preference for homecare settings, and the growing number of surgical processes are the foremost aspects propelling the growth of the global infusion pumps market.
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During the present years, there has been a move from traditional open surgery to minimally invasive procedures (MIPs) in the global infusion pump market. This is attributable to the benefits proposed by MIPs, such as shorter hospital stays, decreased scarring, and lessen complication rates. Infusion pumps are utilized in MIPs to carry fluids, involving medications, nutrients, and anesthetics, into the body through needles, or catheters. Hence, the increasing demand for MIPs is predicted to foster the growth of the infusion pump market throughout the review duration.
Aspects such as the increasing prevalence of gastrointestinal disorders, diabetics, and chronic pain speedy growth in the geriatric population, and the increasing awareness connected to home health care is the foremost driver that fosters the infusion pumps market. In addition, the increasing requirement for portable infusion pumps to decrease healthcare expenditure has also escalated the market.
The market in North America is predicted to account for the greatest revenue share in the global market throughout the review duration. The speedy growth of the healthcare industry is predicted to augment the requirement for infusion pumps among healthcare providers in countries in the region.
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