Volumetric Pumps Market REPORT OVERVIEW
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The global volumetric pumps market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.
Volumetric pumps are medical devices that can continuously give very precise fluid dosages at rates ranging from very slow to very fast. To regulate the flow of intravascular medications, fluids, whole blood, and blood products to patients, infusion pumps are frequently utilized. The majority of volumetric pumps operate using one of two versatile devices: a spinning or countering mechanism. Positive dislocation pumps are used by engineers for systems requiring pressured fluids, particularly in the chemical industry. Yet, you can discover these pumps in little factories and workshops. Engine injection systems are undoubtedly another type of positive displacement pump. Conservative piston or nozzle pumps are used as positive pumps in this modality.
COVID-19 Impact: Increased COVID-19 Infection Disease Management Need Will Boost Market Opportunities
The COVID-19 pandemic's effects and the uncertainty surrounding its longevity have caused a significant increase in the industry's growth rate. This is primarily because to the rise of COVID-19 testing. The COVID-19 pandemic did cause a decrease in production, nonetheless, as a result of staff shortages and supply chain interruptions. For instance, the demand for specific healthcare products, such as volumetric pumps, has fluctuated significantly and unpredictably during the COVID-19 pandemic.
LATEST TRENDS
"Expanding R&D Initiatives to Introduce Home Infusion Systems to Expand Market "
Growing research and development efforts are being made to create home-based infusion products as a result of the rising prevalence of chronic diseases and the rising expense of hospital-based infusion therapies. For instance, an increasing number of people with diabetes, cancer, and neurological disorders need long-term care, ideally at home. The need for long-term care therapies among an ageing population is another factor driving the creation of new products aimed at home-based infusion therapies. The market's top players are concentrating on site of care administration for specialty drugs. The Epic smart volumetric pump was created by Ivenix, Inc. to help reduce patient damage caused by intravenous infusions.
Volumetric Pumps Market Segmentation
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- By Type Analysis
By type, the volumetric pumps market is segmented into jdrex, pvm, mono, ing and other.
The mono type of segment will dominate the volumetric pumps market in the coming years.
- By Application Analysis
Based on applications, the volumetric pumps market is chemical, industrial, winemaking, and other.
The industrial segment will lead the global share through 2031.
DRIVING FACTORS
"Ambulatory Pump Demand is Increasing, Driving Market Growth "
An important tool for drug delivery in a variety of medical settings is the ambulatory pump. They are essential in giving patients analgesics, chemotherapy, TPN infusions, and other treatments in hospitals and at home. The need for volumetric pumps is projected to rise in the near future in developed countries as the management of chronic diseases is moved to the site of care to reduce the financial burdens associated with hospital-based management.
"Chronic Diseases are Becoming More Common, Pushing Market Growth "
Volumetric pumps offer significant benefits over manual fluid administration, including the ability to give fluids at precise programmed rates and in very small dosages. These pumps are frequently used to deliver medicine to keep drug levels in the bloodstream stable in conditions like cancer and diabetes. Insulin devices are becoming more and more popular for managing type 1 diabetes. To accomplish continuous medication delivery for these individuals, user-friendly self-controlled pumps are required. All of these elements working together are accelerating the development for volumetric pumps market worldwide.
RESTRAINING FACTORS
"The Production of Pumps is Subject to Strict Regulations that Limit Market Expansion"
Regulations governing the manufacture and use of pumps are becoming more onerous, which slows down the approval process for new goods. This factor is expected to slow market expansion. The volumetric pumps market development is also being constrained by an increase in product recalls brought on by manufacturing mistakes.
Volumetric Pumps Market REGIONAL INSIGHTS
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"North America to Grow at the Highest Volumetric Pumps Market Share During the Forecast Period "
With a share, North America led the market for volumetric pumps, and this pattern is anticipated to hold throughout the forecast period. The industry for volumetric pumps has expanded in this area as a result of the rising prevalence of chronic diseases, rising surgical procedures, well-developed and growing R&D, and rising usage of advanced technology in volumetric pumps. Due to the high disease prevalence, high medical R&D expenditure, and a strong healthcare infrastructure, North America dominates the intravenous volumetric pumps market. Diabetes prevalence is also quite high, which is related to their way of living and stressful work environment.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Alaris (UK.)
- Baxter International (U.S.)
- BD(U.S.)
- BPL Medical Technologies (India)
- Cameron Sino (China)
- CHOSEN SUPPLIES (U.S.)
- Codan (Australia)
- Core Lab (Netherlands)
- Feit (U.S.)
- Hanna Instruments (Island)
- Hteco (China)
- Italtecno Srl. (Italy)
- KMG (Netherlands)
- Mighty Max Battery (U.S.)
- Mindray (China)
- Nuova Simonelli (Italy)
- PCM (U.S.)
- SigmasTek (U.S.)
- SPS (U.S.)
- Vermont Flexi Pumps (U.S.)
- Winequip (Australia)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services, or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes several other factors that have contributed to recent volumetric pumps market growth in some regions.
Frequently Asked Questions
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What are the key factors driving the volumetric pumps market?
Ambulatory pump demand is increasing and is the driving factor of the volumetric pumps market.
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What is the leading region in the volumetric pumps market?
North America is the leading region for the volumetric pumps market.
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What are the key players in the volumetric pumps market?
Alaris, Baxter International, BD, BPL Medical Technologies, Cameron Sino, CHOSEN SUPPLIES, Codan is some of the leading players in the volumetric pumps market.