The size of the Asia-Pacific Infusion pump market is predicted to be growing at a CAGR of 8.01% between 2021 to 2026 and worth USD 3.98 billion by 2026.
The infusion pump market in the APAC region is projected to be primarily driven by factors such as an increase in the incidence of chronic diseases, rising demand for ambulatory infusion pumps, and increasing diabetes. Besides, the increasing number of surgical procedures performed and the geriatric population in emerging countries drive the regional infusion pump market.
On the other hand, emerging countries such as India and China are adopting advanced specialty infusion pumps, which provide significant growth opportunities for regional market players and are more likely to better the market growth. Furthermore, increased government and private-sector investment and funding for improved healthcare services in the APAC region boost market growth. Improving healthcare infrastructure and a rise in disposable income in this region contribute to market growth.
Compared to other regions, the Asia Pacific region has shown a significant increase in the use of disposable ambulatory pumps over the years. Infusion pumps are widely used in the geriatric population, and the senior population is growing in India and China. Furthermore, infusion pumps for diabetes offer greater flexibility to the patient's lifestyle while providing greater regulation of the condition, which is expected to drive significant market growth. However, rising medical tourism in emerging markets is expected to impact the infusion pump market in the coming years significantly.
However, the prevalence of type 2 diabetes and the high cost of diabetes treatment equipment are likely to hinder the APAC infusion pump market. Stringent regulatory criteria for new devices, as well as the rising adoption of refurbished infusion pumps, are expected to impede the market growth. Strict government regulations for device approval, on the other hand, and the incidence of errors during infusion therapies are hampering the market growth. The primary source of risk for manufacturers is the risk of hacking threats in digital infusion pumps. Clinicians and patients will continue to be put in danger by these and other problems with infusion pumps until these devices accurately reflect the work environment and actual cognitive work.
Impact of COVID-19 on APAC infusion pump market:
During the first quarter of 2020, the COVID-19 pandemic had a negative impact on the infusion pump market in the APAC region. The surge in the COVID-19 positive cases has led to the regional-wide lockdown. COVID-19 was first identified in the Asian country, China. The manufacturing of the devices had been partially postponed due to the stringent COVID-19 guidelines. Also, the supply chain of these devices had been disrupted due to the prohibition of transportation. However, the market for infusion pumps has grown dramatically upon the uplift of lockdown. Thousands of infusion pumps are currently being purchased by governments from manufacturers. Domestic players are growing their production capacity to meet the demand for infusion pumps.
This market research report on the APAC infusion pump market has been segmented and sub-segmented into the following categories.
Geographically, the APAC regional market is predicted to account a substantial market share in the global infusion pump market during the forecast period. The growth of this regional market is primarily attributed to the proliferation of chronic diseases and the presence of many large hospitals. Furthermore, a significant number of regional players from emerging markets such as India and China are owing to the center for adoption in the infusion pumps market. China, India, and Japan are the major contributors to this regional market growth.
In the APAC market, the Chinese market is forecasted to be the top-performing region between 2021 to 2026 owing to the investments by the Chinese government in the healthcare system, growing incidence of cancer.
The Indian infusion pump market is one of the fastest-growing regions in the Asian market. Rising cardiovascular diseases, chronic respiratory disorders, and diet-related cancers are expected to boost the Indian infusion pumps market.
On the other hand, Japan is most likely to account a moderate share in the APAC market during the forecast period. Obesity is one of the significant problems and biggest concerns in the region. Evolving healthcare infrastructure and increasing awareness towards healthcare in this region are more likely to create market growth.
KEY MARKET PLAYERS:
Some of the noteworthy companies dominating the APAC infusion pump market profiled in this report are BD, B. Braun Melsungen AG, Baxter., Fresenius Kabi AG, ICU Medical, Inc., Smiths Group PLC, Medtronic, Moog Inc., Terumo Corporation, Avanos Corporate., NIPRO, Insulet Corporation, Tandem Diabetes Care, Inc., JMS Co.Ltd. and F. Hoffmann-La Roche Ltd