Global Infusion Pumps Market: Snapshot
With the alarming increase in the number of people diagnosed with diabetes, cancer, and other chronic ailments worldwide, the global infusion pumps market is likely to post a CAGR of 5.3% between 2013 and 2019. At this pace, the market is projected to reach US$7.76 bn by the end of 2019 from a valuation of US$5.41 bn in 2012.
The increasing incidence of chronic ailments has created the demand for medical devices that can effectively administer drugs in precise dosage. The global infusion pumps market has immensely benefited from this trend and is likely to continue gaining from the same through the course of the forecast period. Furthermore, the increasing automation and the advent of smart technologies in drug delivery systems, will enable the infusion pumps market witness an uptick in the demand.
The report provides an in-depth analysis of the global infusion pumps market, covering product definitions, manufacturing cost structure, segmentation based on various, and degree of competition prevailing in the market. Besides this, it presents insights into the growth drivers and restraints influencing the market’s trajectory over the forecast period. Information compiled in the report is sourced via proven research methodologies and is aimed at providing clearer picture of the market to its stakeholders.
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Asia Pacific to Exhibit Strong Growth on Account of High Healthcare Spending
North America, Asia Pacific, Europe, and Rest of the World constitute the key regional segments in the global infusion pumps market. In 2012, North America emerged dominant and is expected to report a CAGR of 4.9% between 2013 and 2019, which demonstrates a comparatively slower pace than the CAGR exhibited by the overall market. Over the course of the forecast period, however, Asia Pacific will emerge as a strong region, showcasing lucrative opportunities for enterprises aiming to expand their geographic footprint.
The market in Asia Pacific is expected to show a higher CAGR than other regional markets due to factors such as large patient base, the increasing incidence of cancer and diabetes, and rising willingness to spend on advanced healthcare. Lured by the growth of emerging economies and the rising healthcare spending therein, leading companies are looking to capitalize on the opportunities existent therein. This could provide a fresh boost to the infusion pumps market in Asia Pacific.
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