May 14, 2019

Europe Infusion Pumps Market to reach USD 4,793 million by 2025

Europe Infusion Pumps Market Size and Growth Analysis:

The European Infusion Pumps Market was estimated at $ 3,091 million in 2018 and is expected to reach $ 4,793 million by 2025, growing at a compound annual rate of 6% over the 2018-2025 forecast period.

Europe Infusion Pumps Market Drivers, Challenges and Opportunities:

Infusion pumps are mainly used by hospitals and other health providers to deliver fluids and medications to the patient's body in a controlled manner. The increase in the demand for water therapy is essential and parenteral nutrition is accelerating the growth of the European infusion pumps market. The growth of this market depends to a large extent on the significant increase in the prevalence of chronic diseases such as diabetes and gastrointestinal disorders. Today there are several types of infusion pumps. One of them is the insulin infusion pump that has gained great popularity in the continuous infusion of subcutaneous insulin. Increasing technological advances, increasing the incidence of chronic diseases and increasing the popularity of infusion pumps in home care services will generate the demand for the infusion pumps market around the region.

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Other factors that promote the growth of the market include the increase in the large population, the demand for portable infusion pumps to minimize hospital expenses, a greater awareness of home health care and a wide range of drug pumps infusion. However, due to the strict government regulations on approval and device errors during infusion therapy, the growth of the market can be restricted. By contrast, it is expected that the introduction of infusion pumps and advanced infusion pumps to emerging economies will provide numerous opportunities for market growth in the near future.

Geographic Insights:

It is expected that the European market will expand at a noteworthy CAGR as awareness and initiatives by local governments grow to raise awareness of the benefits of infusion pumps and improve the production of these pumps. Germany represented 34% of the European market for insulin infusion pumps in 2018 and is expected to grow at a CAGR of 4% during the forecast period due to favorable return policy. In addition, growth opportunities are emerging in the global market as repayment policies are growing in favor of developing countries.

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Key market players:

Among the main players in the infusion pumps market are Hospira Inc, CareFusion Corporation, Baxter International, Inc. Medtronic, Inc., Smiths Medical, Fresenius Kabi AG, Braun Melsungen AG, Terumo Corporation, Nipro Corporation and Codman & Shurtleff, Inc.

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