Market Size of Global Syringe Pumps Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 7.00 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Syringe Pump Market Analysis
The syringe pumps market is expected to grow at a CAGR of 7.0% over the forecast period, 2022-2027.
The impact of COVID-19 on the market studied was substantial. The pandemic resulted in the occupying several ICUs and emergency wards with COVID-19 patients, resulting in the postponement of surgeries. This has greatly affected the adoption of syringe pumps within the patient population, ultimately hampering the market's growth. For instance, in April 2022, Nova Scotia's QEII Health Sciences Centre decided to postpone most non-urgent and elective surgeries due to an increasing number and acuity of patients with COVID-19 in the hospital. Furthermore, according to the article titled "The Impact of COVID-19 pandemic on Waiting Times for elective surgery patients: A multicenter study", published in July 2021 in PLOS ONE journal, stated that elective surgical waiting times have grown by up to one-third as a result of the pandemic's healthcare restructurings.
Additionally, as per an article titled "Did COVID-19 delays in surgical management lead to patient morbidity in the orthopedic oncological population?", published in April 2021 in the National Library of Medicine, cancer surgeries globally were fragile during the whole lockdown, and morbidity in patients increased due to delayed or canceled surgeries during COVID-19. The study further stated that the most common morbidity (52 percent) was persistent pain or disability, and the second most common morbidity (40 percent) was a delay in diagnosis. As syringe pumps are widely used in patients with cancer treatments, the uptake of the products witnessed a significant decline throughout the pandemic phase. However, considering the resumption of surgeries and procedures worldwide, the market is anticipated to gain traction in the near future. For instance, in April 2022, the Victorian government announced a USD 1.5 billion package to assist in clearing the queue of elective surgery procedures that have been postponed due to COVID-19. Such instances are likely to have a positive impact on the usage of syringe pumps among the patient population, thereby driving the market's growth.
Furthermore, factors driving the growth of the market include an increase in the prevalence of chronic diseases such as cardiovascular and respiratory diseases, which leads to the increased use of syringe pumps for surgical treatment. In several hospital settings, automated pumps have been employed for the effective infusion of medications inside the patient's body. Syringe pumps are becoming more popular as healthcare facilities become more automated and surgical procedures become less intrusive. Cancer, diabetes, and gastroenterology are some of the diseases in which syringe pumps are mostly used. As per the research study published by the American Cancer Society in February 2021, titled "Global Cancer Statistics 2020: GLOBOCAN Estimates of Incidence and Mortality Worldwide for 36 Cancers in 185 Countries", cancer has a high prevalence globally and 19.3 million new cases are reported each year, of which nearly 10 million deaths take place each year due to cancer. Female breast cancer is the most commonly diagnosed cancer in women, with 2.3 million new cases every year, followed by lung cancer. The global burden of cancer is estimated to have a 47% rise by 2040 compared to 2020, reaching 28.4 million cases. Approximately 60% of these cancer patients require chemotherapy, which is mostly administered using infusion pumps.
Similarly, the demand for syringe pumps is expected to increase owing to a surge in the incidences of chronic disease cases, such as dental, urology, gynecology, ophthalmology, neurology, orthopedics, and cardiovascular diseases, as well as an increase in demand for effective treatment processes. For instance, according to a study titled "Heart Disease" published by the Center for Disease Control and Prevention in February 2022, coronary heart disease affects 18.2 million people in the United States. Heart attack is the second major cause of cardio disease and affects 805,000 people in the United States each year.
However, several incidences of medication errors associated with syringe pumps are major concerns for hospitals, which act as a restraining factor for future market growth.
Syringe Pump Industry Segmentation
As per the scope of the report, syringe pumps are used to infuse fluid with medication or without medication in some circumstances. The syringe Pumps Market is segmented by Type (Infusion Pumps and Withdrawal Pumps), By End-User (Hospitals, Clinics, and Ambulatory Care Settings), Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America).
By Type | |
Infusion Pumps | |
Withdrawal Pumps |
By End-User | |
Hospitals | |
Clinics | |
Ambulatory Care Settings |
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Global Syringe Pumps Market Size Summary
The syringe pumps market is poised for significant growth, driven by the increasing prevalence of chronic diseases such as cardiovascular and respiratory conditions, which necessitate surgical interventions and medication infusions. The market experienced a temporary setback due to the COVID-19 pandemic, which led to the postponement of elective surgeries and a decline in the adoption of syringe pumps. However, as healthcare systems resume normal operations and elective procedures are reinstated, the market is expected to recover and expand. The demand for syringe pumps is further bolstered by advancements in healthcare automation and the growing need for less invasive surgical procedures. These pumps are integral in managing treatments for cancer, diabetes, and other chronic conditions, where precise medication delivery is crucial.
North America is anticipated to maintain a dominant position in the syringe pumps market, supported by a high prevalence of chronic diseases and a strong awareness of health management among the population. The region's growth is also fueled by regulatory support, such as Emergency Use Authorizations from the FDA, which have facilitated the availability of infusion pumps during the pandemic. The market is moderately competitive, with major players like B. Braun Medical, Medtronic, and Baxter leading the charge. Strategic collaborations and product innovations, such as those by Zealand Pharma and Mindray Medical, are expected to enhance market offerings and drive future growth. As the demand for effective treatment solutions continues to rise, the syringe pumps market is set to experience robust expansion over the forecast period.
Global Syringe Pumps Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Chronic Diseases Worldwide
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1.2.2 Significant Rise in Surgeries globally
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1.2.3 Increasing Awareness of Health and Automation in Hospitals
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1.3 Market Restraints
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1.3.1 Medical Error and Safety Issues Associated with Syringe Pumps
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Infusion Pumps
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2.1.2 Withdrawal Pumps
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2.2 By End-User
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2.2.1 Hospitals
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2.2.2 Clinics
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2.2.3 Ambulatory Care Settings
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Syringe Pumps Market Size FAQs
What is the current Global Syringe Pumps Market size?
The Global Syringe Pumps Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in Global Syringe Pumps Market?
Becton, Dickinson and Company, Medtronic, B. Braun Medical, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. and Nipro Corporation are the major companies operating in the Global Syringe Pumps Market.