The market is estimated to grow with a CAGR of 7. 0% from 2019-2025. The growth of the infusion pumps market is primarily attributed to the growing geriatric population and increasing rate of obesity.
New York, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Infusion Pumps Market to 2027 - Regional Analysis and Forecasts By Type, By Application and End User, and Country" - https://www.reportlinker.com/p05794698/?utm_source=GNW
However, high cost of diabetes care devices and increasing prevalence of type 2 diabetes are likely to pose a negative impact on the market growth.
On the other hand, rising medical tourism in developing countries is likely to have a positive impact on the growth of the Asia Pacific infusion pumps market in the coming years.
Infusion pumps are widely used in geriatric population as it is an improved method to administer medication/ hormone/ nutrition and others.The number of ageing people with diabetes is increasing due to increased lifespan and the increased prevalence of diabetes in the geriatric population in the region and worldwide.
Infusion pump for diabetes provides more flexibility to the patient’s lifestyle while giving them greater control of the disease.The elderly population is defined as group of people aged 65 and over.
Population ageing is poised to become one of the most significant social transformations of the twenty-first century.Across the globe, the number of persons aged 80 or above is projected to triple by 2050.
The approximate population is around 137 million in 2017 which will reach up to 425 million in 2050. The value is expected to increase to 909 million in 2100, around seven times its value in 2017. With increase in the number of geriatric population, the prevalence of the chronic diseases has increased. Therefore, the demand of infusion pumps products are expected to increase in the forecast period.
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 7.3% 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.
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 6.8% during the forecast period. This segment is also expected to dominate the market in 2025 owing to rising incidences of cancer and 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 7.4% 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.
Read the full report: https://www.reportlinker.com/p05794698/?utm_source=GNW
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