Growth in volume of surgical procedures across the globe to drive the growth of global syringe pump market.
According to TechSci Research report, “Global Syringe Pump Market By Type (Infusion Pump v/s Withdrawal Pump), By Application (ICU, Cardiac Surgery Units, Pediatric Units, Operating Theaters, Others), By End User (Hospitals & Clinics, Ambulatory Care Settings, Others), By Region, Forecast & Opportunities, 2026”, the global syringe pump market stood at USD19.60 billion in value terms in 2020 and is expected to grow at a CAGR of 7.21% and reach USD29.40 billion by 2026 during the forecast period on account of the growing use of syringe pumps in treatment, diagnosis and research activities. Additionally, increasing awareness among the population pertaining to healthcare coupled with rapid adoption of electronic health records and smart pumps is further expected to create lucrative opportunities for the market growth during forecast period. Furthermore, advantages such as ease of use, reliability, rapid start of infusion, wireless communication between pumps, rapid access to drug libraries, among others associated with syringe pump are anticipated to increase their demand over the next few years, thereby driving the market growth.
Besides, syringe pumps can operate without connection to the main switch since they are automatically supplied with batteries, which is very helpful during electricity failure. Also, they ensure continuous infusion of fluids to the patient even during transportation. Besides, rising demand for ambulatory infusion pumps is further expected to fuel the market growth through 2026. However, issues of electrical leakage to the patient might hamper the growth of market over next few years. Additionally, increasing adoption of refurbished syringe pumps is expected to slow down the market growth. Furthermore, lack of skilled professionals negatively impacts the market growth. Also, increasing cases of injuries to the patient or sometimes death due to air bubbles or other hazards might further restrict the market growth. Moreover, stringent regulatory process is further anticipated to impede market growth during the forecast period.
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The global syringe pump market is segmented based on type, application, end user, company, and region. Based on type, the market can be bifurcated into infusion pump and withdrawal pump. The infusion pump segment is expected to dominate the market owing to their widespread use for delivering small quantity of fluids to the patients at high but controlled pressure. Based on application, the market can be categorized into ICU, cardiac surgery units, pediatric units, operating theatres, and others. The ICU segment accounts for 41.59% and is expected to further increase during forecast period. The relay mode of syringe pump plays a pivotal role in ICUs. Critical patients in ICU often receive intravenous medications which cannot be interrupted at any point of time as this could affect their health. It also eliminates the possibility of medication errors on the part of both the hospital staff and the patient. These pumps can also be brought along with the patient during transportation, saving time and consumables.
Becton, Dickinson and Company, B. Braun Melsungen AG, Baxter International Inc., Fresenius Kabi, ICU Medical, Inc., Medtronic plc, Moog Inc., Terumo Corporation, Nipro Corporation, Mindray Medical International Limited, are some of the leading players operating in global syringe pump market. The companies operating in the market are using strategies such as product launches, mergers, and collaborations to boost their share.
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“North America is expected to dominate the syringe pump market during the forecast period, owing to the increasing use of syringe pumps for treating various chronic diseases in the region. Additionally, presence of large number of hospitals with commendable healthcare facilities is further expected to propel the market. Furthermore, technological advancements and innovations in the syringe pumps under the infusion pump segment, especially in the United States, is further anticipated to positively impact the growth of market through 2026. Besides, the presence of key market players in the region is expected to create lucrative opportunities for the market growth over next few years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Syringe Pump Market By Type (Infusion Pump v/s Withdrawal Pump), By Application (ICU, Cardiac Surgery Units, Pediatric Units, Operating Theatres, Others), By End User (Hospitals & Clinics, Ambulatory Care Settings, Others), By Region, Forecast & Opportunities, 2026”, has evaluated the future growth potential of global syringe pump market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global syringe pump market.
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