PUBLISHER: The Insight Partners | PRODUCT CODE: 1843391
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843391
The Europe infusion devices market is projected to grow significantly, reaching approximately USD 6,590.36 million by 2031, up from USD 4,047.05 million in 2023, with a compound annual growth rate (CAGR) of 6.3% during this period.
Executive Summary and Market Analysis
The market is divided into several key regions, including Germany, the UK, France, Spain, Italy, and the Rest of Europe. The growth of the infusion devices market in Europe is primarily driven by the increasing use of infusion devices, particularly infusion pumps, for managing chronic conditions such as cancer, diabetes, and circulatory diseases. Additionally, strategic initiatives by companies, such as geographical expansion, are further propelling market growth. For example, in January 2024, Medtronic plc received CE Mark approval for its MiniMed 780G insulin pump system, which includes a disposable continuous glucose monitor (CGM), set to be released in Europe in the summer of 2024.
Market Segmentation Analysis
The Europe infusion devices market can be analyzed through various segments, including product type, application, and end user.
Market Outlook
The global increase in life expectancy is contributing to a growing geriatric population, which is expected to drive demand for infusion devices. According to the World Health Organization (WHO), by 2030, one in six people will be aged 60 or older, with the number of individuals aged 60 and above projected to rise from one billion in 2020 to 2.1 billion by 2050. Notably, Europe and Asia have the highest proportions of elderly populations, with countries like Japan and Italy leading in the percentage of seniors.
Infusion therapy offers several benefits for older adults, including:
Country Insights
The market analysis by country reveals that Germany held the largest share in 2023. The prevalence of chronic diseases, particularly diabetes and cancer, is rising in Germany. According to the IDF Diabetes Atlas, the number of individuals with diabetes in Germany was 6.12 million in 2021, projected to increase to 6.5 million by 2030. The use of insulin pump therapy among children and adolescents has also seen significant growth, indicating a strong market potential for infusion devices in the country.
Company Profiles
Key players in the Europe infusion devices market include B Braun SE, Baxter International Inc, Becton Dickinson and Co, BPL Medical Technologies Pvt Ltd, CODAN US Corp, Eitan Medical Ltd, Elimedical Inc, Fresenius Kabi AG, ICU Medical Inc, KD Scientific Inc, Medtronic Plc, Moog Inc, Nipro Corp, Polymedicure, Tandem Diabetes Care Inc, Terumo Corp, and Zimed Healthcare Ltd. These companies are focusing on strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative solutions to consumers.