Drug Infusion System - Market Insights, Competitive Landscape and Market Forecast-2027
Drug Infusion Systems Market By Product Type (Syringe Infusion Systems, Elastomeric Infusion Systems, Large Volume Infusion Systems, Enteral Infusion Systems, Patient-Controlled Analgesic Infusion Systems, Insulin Pumps, And Others), By Product Placement (External And Implantable), By Portability (Fixed And Ambulatory), By Application (Oncotherapy, Diabetes, Analgesia, Nuttrition, And Others), By End User (Hospitals, Ambulatory Surgical Centers, Homecare Settings, And Others), by geography is expected to grow at a steady CAGR forecast till 2027 owing to increasing prevalence of chronic diseases and rising prevalence of cancers
Global Drug Infusion Systems Market was valued at USD 11.73 billion in 2021, growing at a CAGR of 8.85% during the forecast period from 2022 to 2027 to reach USD 19.45 billion by 2027. The demand for drug infusion systems is primarily being boosted by rising prevalence of chronic diseases, rising prevalence of various cancers, increasing geriatric population, and technological advancements in product development.
Drug Infusion Systems Market Dynamics:
The drug infusion systems market is slated to register significant growth in the forecast period due to the rising prevalence of various cancers and other chronic diseases. According to the data provided by the GLOBOCAN study, in 2020, there were 474,519 new cases of leukemia across the globe. The same study presented that 2,206,771 and 2,261,419 new cases of lung cancer and breast cancer were reported in 2020, respectively.
As per the facts provided by the International Diabetes Federation, in 2019, near about 463 million adults were living with diabetes across the globe and by 2045, the numbers are predicted to reach 700 million. It has been estimated that about one in five people over the age of 65 suffer from diabetes.
The above mentioned facts are examples of cancers and chronic diseases that are witnessing a rapid increase across the globe. Chronic diseases often impact the individuals for the course of their lifetime and require therapeutic interventions for prolonged periods. In order to achieve that, drug infusion systems are used. Drug infusion systems are medical devices that are employed in the delivery of drugs such as antibiotics, pain relievers, hormones, and chemotherapy drugs as well as nutrients to the patients. These systems are available in various configurations such as stationary as well ambulatory ones. These devices offer a safe and accurate mode of drug delivery without the constant need for verifying the amount of dose being administered.
Moreover, technological advancements have led to the development of programmable drug infusion systems where in flow rates, alarms among other features are being offered for easy tracking of the administered doses. For instance, the Space ecosystem by B. Braun Melsugen AG is an integrated infusion system which comes with the OnlineSuiteplus. This integrated system offers features such as connectivity and data management and standardized interoperability, outstanding therapy, cloud-based applications among other features.
However, product recalls as well technical problems associated with infusion systems such as disconnection, issues in calibration may prove to be certain restraints to the drug infusion systems market growth.
Drug Infusion Systems Market Segment Analysis:
Drug Infusion Systems market by Product Type (Syringe Infusion Systems, Elastomeric Infusion Systems, Large-Volume Infusion Systems, Enteral Infusion Systems, Patient-Controlled Analgesic Infusion Systems, Insulin Pumps, and Others), Drug Infusion Systems market by Product Placement (External and Implantable), Drug Infusion Systems market by Portability (Fixed and Ambulatory), Drug Infusion Systems market by Application (Oncotherapy, Diabetes, Analgesia, Nuttrition, and Others), Drug Infusion Systems market by End User (Hospitals, Ambulatory Surgical Centers, Homecare Settings, and Others), and Drug Infusion Systems market by Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In the product segment in the drug infusion systems market, syringe-based infusion systems are estimated to account for a significant share of the market. This is due to their simple product design and wide applicability. Syringe pumps are extensively used in clinical settings as majority of the medications are available in syringe forms. Therefore, a syringe is fitted into the system and programmed for the delivery of the drug as per the requirement. These systems are really useful in the delivery of low medication volumes for medication required in small quantities. Syringe infusion systems are particularly ideal in dose administration in younger patients such as babies, neonates, and young children.
Additionally, PCA infusion systems along with large volume infusion systems are expected to account to register a competitive market share as well in the forecast period.
North America is expected to dominate the Overall Drug Infusion Systems Market:
Among all the regions, North America is expected to account for the largest share in the drug infusion systems market. The growing prevalence of chronic diseases such as chronic low back pain, diabetes, and cancers, a well-established healthcare system along with the presence of major market players in the region are predicted to be the major influencing factors in driving the overall growth of the drug infusion systems market over the forecast period.
As per the facts provided by the Centers for Disease Prevention and Control (CDC), according to the National Health Survey 2019, about 20.4% of adults had chronic pain and 7.4% of adults had chronic pain that frequently limited work or life activities (considered as high impact chronic pain) in 2019. It was observed in the survey that high-impact chronic pain and chronic pain affected people over 65 and above more commonly and worsen with age.
According to the American Cancer Society, it is estimated that in 2021, there will be 90,390 cases of lymphoma, 34,920 cases of myeloma, and 61,090 cases of leukemia in the United States. Furthermore, as per the Leukemia & Lymphoma Society, one person in the country is diagnosed with myeloma, lymphoma, or leukemia every three minutes.
As these indications require long-term disease management, drug infusion systems prove to be extremely useful devices in the administration of pain management therapies as well as chemotherapy.
Moreover, the US houses a large number of key players in the market which can be attributed to the conducive product development environment along with better opportunities in terms of market access to the end users.
In June 2019, Ivenix Inc received the 510k approval by the US Food and Drug Administration for their Ivenix Infusion System, which was the first and only large-volume pump and infusion system designed with the new FDA infusion guidelines, first adopted in 2014.
Therefore, the presence of large patient pool, along with an active regulatory body as well as active key market players in the country and the region, the market outlook for drug infusion systems is expected to be promising in the US and North America.
Drug Infusion Systems Market Key Players:
Some of the key market players operating in the drug infusion systems market includes B. Braun Melsungen AG, Medtronic, BD, PROMECON GmbH, arcomed ag, Fresenius Kabi AG, Microport Scientific Corporation, Teleflex Incorporated., Smiths Medical, Baxter, Ivenix Inc, Terumo Corporation, Insulet Corporation., FLOWONIX MEDICAL INC, Intera Oncology and others.
Recent Developmental Activities in Drug Infusion Systems Market:
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