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.The global syringe pump market is driven by the growing geriatric population suffering from various chronic diseases such as cancer, cardiovascular diseases, renal disorders, among others. This has drastically increased the number of patients and requirement for continuous monitoring of their health. This in turn is anticipated to positively impact the market growth during the next five years. Additionally, growing number of surgical procedures performed is also expected to foster the growth of global syringe pump market. Furthermore, increasing investments and new product launches by the key vendors operating in the market is expected to create lucrative opportunities for the growth of market through 2026.
The global syringe pump market is segmented based on type, application, end user, company, and region. Based on end user, the market can be fragmented into hospitals & clinics, ambulatory care settings, and others. The hospitals and clinics segment accounted for 55.5% market share in 2020 and this is expected to further grow in the forecast period. This can be attributed to hospitals’ considerable financial resources for buying innovative medical equipment for their patients. Additionally, large patient population coming to the hospitals coupled with the availability of skilled & trained professionals is further anticipated to fuel the growth of segment over the next few years.
Regionally, the global syringe pump market has been segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these, Asia-Pacific is expected to witness the highest growth in the overall syringe pump market owing to the improving healthcare infrastructure in the region. Additionally, growing geriatric population in the region which is suffering from different chronic diseases is further expected to spur the market growth through 2026.
Major players operating in the global syringe pump market include Becton, Dickinson and Company, B. Braun Melsungen AG, Baxter International Inc., Fresenius Kabi, ICU Medical, Inc., Medtronic plc, Moog Inc., Terumo Corporation, Nipro Corporation, and Mindray Medical International Limited. The companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
- To analyze the historical growth in market size of global syringe pump market from 2016 to 2020.
- To estimate and forecast the market size of global syringe pump market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast global syringe pump market based on type, application, end user, company, and regional distribution.
- To identify dominant region or segment in the global syringe pump market.
- To identify drivers and challenges for global syringe pump market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global syringe pump market.
- To identify and analyze the profiles of leading players operating in global syringe pump market.
- To identify key sustainable strategies adopted by market players in global syringe pump market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global syringe pump market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Syringe pump manufacturers, suppliers, distributors, and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to syringe pumps
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global syringe pump market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Syringe Pump Market, By Type:
o Infusion Pump
o Withdrawal Pump
- Global Syringe Pump Market, By Application:
o Cardiac Surgery Units
o Pediatric Units
o Operating Theaters
- Global Syringe Pump Market, By End User:
o Hospitals & Clinics
o Ambulatory Care Settings
- Global Syringe Pump Market, By Region:
o North America
? United States
? United Kingdom
? South Korea
o Middle East & Africa
? South Africa
? Saudi Arabia
o South America
Company Profiles: Detailed analysis of the major companies present in global syringe pump market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five)