The Europe infusion pumps market is expected to reach US$ 4,969.8 Mn in 2025 from US$ 3,352.4 Mn in 2018. The market is estimated to grow with a CAGR of 5.8% from 2019-2025.
The growth of the infusion pumps market is primarily attributed to the rising incidence of diabetes and rising adoption of insulin injection pens over traditional syringes and vials. However, availability of alternatives for drug delivery is likely to pose a negative impact on the market growth. On the other hand, increasing launch of GLP-1 analogues is likely to have a positive impact on the growth of the Europe infusion pumps market in the coming years.
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In recent years, there has been a considerable developments in the field of medical drug delivery devices. Insulin administration is a common procedure in diabetic population. Traditional insulin syringes have several disadvantages that includes experience of pain by patients due to repeated pricks, discomfort in carrying both insulin bottle as well as syringe, risk of needle re-use associated infections and needle-stick injuries as well as difficulty in delivering mixture of two or more liquids together in one syringe. Additionally, self-administration of insulin through syringes and vials is time-taking and difficult that has reduced the adoption of these needles over the past years. On the contrary, pen needles that have emerged as a solution to combat all the existing issues of the needles and vials for drug delivery offer several advantages that has led to rapid shift of patients’ preference towards their use. The pre-filled insulin syringes requires minimum steps of selecting the dose volume and attachment of pen needle which is very feasible for patients that practice self-administration of insulin on everyday basis. Moreover, the availability of pen needles in different lengths as well as gauge sizes provide variety of options to the users to find the best suitable option according to their needs. According to a research survey published in Patient Preference and Adherence 2015, approximately 95.2% of patients participated in the survey that inject insulin regularly found pen injection method easy to use hassle-free as compared to conventional vial and syringes use. Thus, owing to above mentioned factors, the market is expected to grow in the coming years.
By Companies: Medtronic, Baxter, Smith Medical, Moog Inc., ICU Medical, Insulet Corporation.
In 2017, the volumetric pumps segment held a largest market share of 43.7% of the infusion pumps market, by type. The segment is anticipated to witness growth at a substantial rate of 6.1% during the forecast period. This segment is also expected to dominate the market in 2025 owing to its benefits of delivering monitored dosage of medications to the patient. They are being preferred highly in hospitals as they are able to deliver large amount of fluids or medications.
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In 2017, the chemotherapy segment held a largest market share of 36.4% of the infusion pumps market, by application. The segment is anticipated to witness the fastest growth rate of 5.7% during the forecast period. This segment is also expected to dominate the market in 2025 owing to increases use of infusion pumps for the administration of medications, to the cancer patients. The pumps for chemotherapy can be used both for inpatient as well as outpatient settings, which makes it a preferable choice for cancer patients.
In 2017, the hospital & clinics segment held a largest market share of 47.5% of the infusion pumps market, by end user. The segment is anticipated to witness the fastest growth rate of 6.2% during the forecast period. This segment is also expected to dominate the market in 2025 owing to rise in the number of surgical procedures as well as reimbursement policies which make the admission process in hospitals a preferred choice.
Some of the major primary and secondary sources for infusion pumps included in the report are, Cancer Research Initiatives Foundation (CARIF), Centers for Disease Control and Prevention (CDC), Clinical Evaluation Report (CER), Food and Drug Administration (FDA), National Institute for Health and Care Excellence (NICE) and others.
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This post was originally published on Commerce Gazette