Infusion Pump Market Trends

Growth Drivers

• Increasing Cases of Diabetes - Diabetes is a condition in which the human body doesn’t produce an adequate amount of insulin or can’t utilize it resulting in too much storage of blood sugar in the bloodstream. Diabetes can be very discomforting to live with and can also be life-threatening. In such conditions, infusion pumps are utilized to release recommended doses of insulin to control the increment of blood sugar after the meal. Therefore, diabetes care devices are needed in order to deliver insulin to the body or control the sugar level, and it is projected to drive the market’s growth. The latest report released by the World Health Organization in 2022, revealed that around 422 million people across the world are living with diabetes with 1.5 million deaths owing to diabetes.
• Growing Number of People in the Need of Pain Management – With the escalation of both chronic and acute diseases, people suffer from discomfort and pain during the diagnosis and treatment processes. In addition,  implantable drug infusion pumps are used to provide drug delivery on continuous basis for pain management in patients. For reducing aches and soreness, the demand for infusion pumps is anticipated to soar and bring lucrative growth opportunities for market growth. For instance, it is observed that nearly 3.5 million suffer from chronic daily migraines, meanwhile, approximately 75% of the adults in the United States are reported to be living with severe back pain.
• Booming Penetration of Hemophilia Across the Globe - The number of people estimated to be living with hemophilia worldwide is around 200 thousand while hemophilia A affected around 150 thousand people in 2019.
• Skyrocketing Demand for Infusion Pumps in Neonatology – The World Health Organization estimated that nearly 6,700 newborn babies die each day summing up to 47% of death of children aged under 5 years across the globe.
• Significant Growth in Global Health Expenditure - As per the data released by the World Bank, it was demonstrated that worldwide health expenditure reached around 9.83% of GDP in 2019.

Challenges

• Booming Number of Medication Errors – Many times, medication errors such as miscalculations, unit errors, push-button mistakes, and alarm errors occur while using the infusion pumps. Hence, this factor is estimated to hinder market growth over the projected time frame.
• Lack of Requisite Technology such as Wireless Connectivity
• Requirement for Higher Initial Investment