PUBLISHER: The Insight Partners | PRODUCT CODE: 1843392
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843392
The Asia Pacific infusion devices market is projected to grow significantly, reaching approximately US$ 5,490.48 million by 2031, up from US$ 3,014.20 million in 2023, reflecting a compound annual growth rate (CAGR) of 7.8% during the forecast period from 2023 to 2031.
Executive Summary and Market Analysis
The Asia Pacific region, which includes countries such as China, Japan, India, Australia, South Korea, and others, is experiencing rapid growth in the infusion devices market. This growth is driven by several factors, including the increasing number of market players introducing innovative and cost-effective products, supportive initiatives from local governments, and a rising incidence of chronic diseases like cancer and diabetes. The presence of local manufacturers also enhances the accessibility of infusion devices across the region.
Market Segmentation
The Asia Pacific infusion devices market can be segmented based on product type, application, and end user.
Market Outlook
Key players in the Asia Pacific infusion devices market are focusing on strategic initiatives such as product launches, mergers, acquisitions, and collaborations to enhance their offerings for chronic conditions like diabetes, cancer, and chronic pain. Recent developments include:
These advancements indicate a growing trend of product approvals and strategic partnerships, which are expected to create significant opportunities in the infusion devices market.
Country Insights
The Asia Pacific infusion devices market is notably influenced by country-specific dynamics. China emerged as the largest market in 2023. For instance, in October 2021, EOFlow Co., Ltd. established a joint venture with Changsha Sinocare Co., Ltd. to penetrate the expanding Chinese diabetes market, focusing on the production and distribution of the EOPatch, a wearable insulin pump. Additionally, China imported over 2 million infusion pumps valued at US$ 0.235 million in 2023, ranking second among the top importers of infusion pumps. The increasing prevalence of chronic diseases necessitating infusion therapies is propelling market growth in China.
Company Profiles
Key players in the Asia Pacific 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, among others. These companies are actively pursuing strategies such as market expansion, product innovation, and mergers and acquisitions to enhance their market presence and deliver innovative solutions to consumers.