The North American infusion therapy devices market is projected to witness a considerable growth rate by exhibiting a significant CAGR of 5.0% during the forecast period. The market growth is driven by the increasing aging population and the rising incidence of chronic diseases such as diabetes, cancer, and others. Moreover, the rising number of surgeries performed in hospitals and ambulatory care settings, rising demand for diabetes management devices are contributing to the market growth in North America. The prevalence of diabetes is increasing in the region which is a major factor making a shift for the need for the infusion pump. According to IDF, the prevalence of diabetes is around 13.3% of the total adult population in the region which is expected to increase up to 14.2% by 2030 and 15% by 2045. In numbers, it is around 47.6 million in 2019 which is expected to augment 56 million by 2030.
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The North American infusion therapy devices market is segmented on the basis of product type, application, and end-user. Based on the product type, the market is classified into infusion pumps and consumables & accessories. Based on the application, the market is segregated into oncology, diabetes, gastroenterology, analgesia, hematology, and others. The end-user segment is classified into hospitals, home care, and ambulatory surgery centers.
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The major players contributing to the growth of the North American infusion therapy devices market include B. Braun Melsungen AG, Becton, Dickinson, and Co., Infuserve America Inc., Ivenix, Inc., Medtronic PLC, Moog Inc., Novartis AG, and Terumo Corp. The players operating in the market adopt various strategies such as technology development, product launch, merger and acquisitions for gaining a sustainable position in the market that further propels the growth of the market. For instance, in May 2018, Baxter International, Inc. received an FDA approval for Spectrum IQ Infusion System with Dose IQ safety software. With this approval, the company will be able to commercialize and sell their products that will further increase their revenue in the market.
Market Segmentation
North American Infusion Therapy Devices Market by Product Type
- Infusion Pumps
- Consumables& Accessories
North American Infusion Therapy Devices Market by Application
- Oncology
- Diabetes
- Gastroenterology
- Analgesia
- Hematology
- Others (Pediatrics)
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