Stringent Regulations Restrain the Infusion Pumps Market

The global infusion pumps market is expected to reach USD 15.89 billion by 2023 from USD 11.90 billion in 2018, growing at a CAGR of 6.0 percent, predicts MarketsandMarkets. Increasing prevalence of chronic diseases along with the rapid growth in the geriatric population, growing use of ambulatory infusion pumps in home care settings, and growing number of surgical procedures are some of the key factors driving the market growth. However, the presence of stringent regulations for new products, medication errors associated with infusion pumps (that have resulted in product recalls), and the increasing adoption of refurbished and rental infusion pumps are expected to restrain the growth of this market to a certain extent.

The accessories/consumables segment accounted for the largest share of the market in 2017 attributing to the recurrent use of accessories/consumables during infusion therapy for the management of chronic diseases. North America accounted for the largest share of the infusion pumps market in 2017, followed by Europe. The growing demand for premium-priced infusion pump systems, to improve the quality of care for patients, is expected to play a key role in the growth of the infusion pumps market in North America in the coming years.