Intravenous Infusion Pump Market Size (2024 - 2029)

Intravenous Infusion Pump Market Analysis

The Intravenous Infusion Pump Market size is estimated at USD 8.98 billion in 2024, and is expected to reach USD 12.77 billion by 2029, growing at a CAGR of 7.30% during the forecast period (2024-2029).

The growing prevalence of chronic diseases, the rise in healthcare investments, and the growth in the adoption of portable infusion pumps are the key driving factors in the intravenous infusion pump market.

The market for intravenous infusion pumps is likely to grow owing to the high burden of chronic disease, which leads to an increase in the demand for intravenous infusion pumps for administering medications in precise amounts, thus contributing to the market growth. For instance, as per the data updated by the Centers for Disease Control and Prevention in November 2023, 60% of United States adults have at least one chronic disease, while 40% have two or more chronic disorders. Since patients with chronic disease are prone to nutrient shortages, a high prevalence of chronic disease is expected to increase the usage of IV infusion pumps. Also, according to the above-mentioned sources, chronic diseases are the most significant source of annual healthcare costs in the United States, equivalent to USD 4.1 trillion. Thus, the high burden of chronic diseases is expected to increase the usage of infusion pumps in hospitals and boost the market growth during the forecast period.

Additionally, the increase in the geriatric population is anticipated to drive the demand for intravenous infusion pumps to administer medications accurately and thus propel the market growth. For instance, per the United Nations Population Fund's India Ageing Report 2023, published in September 2023, the population of 60 years and above is expected to rise from 149 million in 2022 to 347 million by 2050. Thus, the growing geriatric population is more prone to chronic diseases, which is anticipated to increase the usage of intravenous infusion pumps and drive market growth.

Moreover, market player initiatives such as partnerships and product launches increase product availability and are anticipated to boost market growth. For instance, in August 2023, Baxter International Inc. received approval from the United States Food and Drug Administration for a Novum IQ syringe infusion pump (SYR) with Dose IQ Safety Software. In March 2022, China's National Medical Products Administration (NMPA) also granted marketing approval to Shanghai MicroPort Lifesciences Co., Ltd (MicroPort Lifesciences) for its independently developed AutoEx Chemotherapy Infusion Pump. Thus, such market player initiatives are anticipated to contribute to market growth.

Hence, as per the factors mentioned above, such as the increasing prevalence of chronic diseases and the rising geriatric population, the intravenous infusion pump market is expected to grow during the forecast period. However, the high costs and stringent regulatory approvals of IV infusion pumps restrain the market growth.

Intravenous Infusion Pump Industry Segmentation

According to the scope of the report, an intravenous infusion pump is a medical device that gives fluids, such as nutrients and medications, into a patient's circulatory system through an intravenous route in controlled amounts. The intravenous infusion pump market is segmented by type, application, end user, and geography. By type, the market is segmented into volumetric pumps, syringe pumps, and patient-controlled analgesia pumps. By application, the market is segmented into analgesia/pain management, oncology, parenteral nutrition, and other applications. By end user, the market is segmented into hospitals, home healthcare, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market size is provided in terms of (USD) value.