How Do Collaborations and Partnerships Drive Infusion Pumps Market?

The major drivers for the infusion pumps market include the rising geriatric population, advanced technology adoption, increasing prevalence of chronic diseases, and surging inclination toward home infusion treatments. Thus, in 2021, the market stood at $12,825.9 million, and it is expected to reach $27,133.7 million by 2030, at an 8.7% CAGR from 2021 to 2030. For instance, there will be at least 26 million cancer survivors in the U.S. by 2040, according to the National Cancer Institute. In addition, approximately 30 million new cancer cases are expected every year around the world.

A pivotal trend in the infusion pumps market is the rising count of collaborations and partnerships. For instance, American Oncology Network LLC and InfuSystem Holdings Inc. collaborated in February 2022. Similarly, DEKA Research & Development Corp. partnered with Zealand Pharma to enhance infusion pumps in November 2021. Furthermore, Ivenix Inc. and Smiths Medical entered into a collaboration in 2021, while a service partnership was announced by InfuSystem Holdings Inc. and Eitan Group in August 2019.

Within the segment of application, the diabetes management category dominated the infusion pumps market, accounting for about 30% share, in the past. This trend will continue in the forecast period, and it can be credited to the rising prevalence of diabetes all around the world. Moreover, extended infusion periods and advancements in the wearable technology will augment growth in the market. For instance, a new wearable infusion set was introduced by Medtronic plc, featuring seven days of wear time, in the European Market in April 2021.

The infusion pumps market will be ruled by North America in the forecast period owing to the existence of a large elderly population, rising adoption of technologically improved products, and enhanced healthcare infrastructure. Furthermore, diabetes is becoming prevalent among all ages in Europe, which is why there is a dire need for enhanced yet cheaper healthcare solutions. Moreover, the APAC market will observe recognizable growth in the coming years because of the rising healthcare expenditure, surging awareness about managing diabetes, and increasing prevalence of obesity and other chronic diseases.

Hence, a higher prevalence of chronic diseases, rising geriatric population, and surging inclination toward home infusion treatments will provide lucrative opportunities to the market players to gain a competitive edge.