Mri Compatible Iv Infusion Pump Market Research Report: By Product Type (Magnetic Resonance Imaging (MRI) Compatible Infusion Pumps, Non-MRI Compatible Infusion Pumps), By Modality (Continuous Infusion Pumps, Intermittent Infusion Pumps, Syringe Infusion Pumps, Patient-Controlled Analgesia (PCA) Pumps), By Application (Anesthesia, Pain Management, Chemotherapy, Antibiotics Administration, Contrast Media Delivery), By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Home Healthcare Settings), By Technology (Mechanical, Electronic,

 Global Mri Compatible Iv Infusion Pump Market Overview

As per MRFR analysis, the Mri Compatible Iv Infusion Pump Market Size was estimated at 5.52 (USD Billion) in 2022.The Mri Compatible Iv Infusion Pump Market Industry is expected to grow from 5.74(USD Billion) in 2023 to 8.2 (USD Billion) by 2032. The Mri Compatible Iv Infusion Pump Market CAGR (growth rate) is expected to be around 4.04% during the forecast period (2024 - 2032).

Key Mri Compatible Iv Infusion Pump Market Trends Highlighted

High demand for MRI-compatible IV infusion pumps is linked to the growing number of MRI procedures and the growing requirement to maintain an infusion throughout these scans. With these pumps mounted within MRI scanners, it provide the opportunity for effective and steady drug infusion in order to improve safety levels and reduce the interruptions made to the patient procedures across the subsidiary markets ‘ acceptance of biostatistics. Factors fuelling the market growth are the increasing elderly population, increasing chronic diseases and improved imaging technologies. Further, the demand for these pumps is being strengthened by the increasing number of MRI guided procedures such as biopsy and radiotherapy. Some of the recent developments in the MRI-compatible IV infusion pump market include compact devices, cord free functionality and enhanced safety measures. Decreasing the size of pumps serves to make the devices portable and light, which is preferred by most patients undergoing MRI. Cord free operation allows offshore therapies and monitoring of infusion rates even from outside the MRI room. Enhanced patient safety such as dose calculation during medication and provision of warnings, improves the safety of medication administration and decreases the likelihood of making mistakes.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Mri Compatible Iv Infusion Pump Market Drivers

Rising Prevalence of Chronic Diseases

One of the main drivers of the  Mri Compatible Iv Infusion Pump Market Industry is the rapid increase of chronic diseases such as cancer, cardiovascular diseases, and diabetes. Patients affected by these diseases need to undergo long-term or continuous administration of medications. MR – compatible IV infusion pumps can easily and effectively administer the necessary doses of medications to the patients, and treatment can be interrupted for the patients to have MRI scans.As such, they are becoming more and more popular in the professional health sector. With the ever-increasing number of chronic disease patients, their popularity and demand will only increase.

Technological Advancements

Technological advancements have been one of the key factors contributing to the growth of the  Mri Compatible Iv Infusion Pump Market Industry. Since the emergence of such pumps, they have undergone many changes and improvements in terms of their features and functions, which have made them more versatile and easier to use. Infusion pumps enable a streamlined workflow due to features like wireless connectivity, smart pump programming, remote monitoring, and auto-drug delivery for the improved safety of patients.Moreover, artificial intelligence and machine learning algorithms integrated into the infusion pump operation allow one to use smart infusion pumps in order to adjust the therapy to each patient’s needs and offer personalized therapy to a specific patient.

Increasing Focus on Patient Safety

Patient safety is a top priority in healthcare, and MRI compatible IV infusion pumps offer several advantages in this regard. These pumps are designed to minimize the risk of medication errors and ensure accurate and reliable drug delivery. They feature advanced safety features such as drug libraries, dose error reduction software, and tamper-proof mechanisms. By preventing medication errors and ensuring patient safety, MRI compatible IV infusion pumps are gaining increasing acceptance among healthcare providers and patients alike.

Mri Compatible Iv Infusion Pump Market Segment Insights

Mri Compatible Iv Infusion Pump Market Product Type Insights

The  Mri Compatible Iv Infusion Pump Market is segmented by product type into Magnetic Resonance Imaging (MRI) Compatible Infusion Pumps and Non-MRI Compatible Infusion Pumps. The MRI Compatible Infusion Pumps segment is expected to hold a larger market share in 2023 due to the increasing use of MRI scans in various medical procedures. The  Mri Compatible Iv Infusion Pump Market revenue for MRI Compatible Infusion Pumps is projected to reach 3.2 billion USD by 2024, growing at a CAGR of 4.5%. The Non-MRI Compatible Infusion Pumps segment is also expected to witness significant growth over the forecast period.The increasing demand for infusion therapies in various healthcare settings is driving the growth of this segment. The  Mri Compatible Iv Infusion Pump Market revenue for Non-MRI Compatible Infusion Pumps is expected to reach 2.5 billion USD by 2024, growing at a CAGR of 4%. Key factors driving the growth of the  Mri Compatible Iv Infusion Pump Market include the increasing prevalence of chronic diseases, rising demand for minimally invasive procedures, and technological advancements in infusion therapy devices. The growing awareness of the benefits of MRI compatible infusion pumps is also contributing to the market growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Mri Compatible Iv Infusion Pump Market Modality Insights

The major modality segments of the MRI compatible IV infusion pump market include Continuous Infusion Pumps, Intermittent Infusion Pumps, Syringe Infusion Pumps and Patient-Controlled Analgesia Pumps. In 2023, the Continuous Infusion Pumps segment dominated the market with around 40% of overall revenue share, as these types of infusion pumps are able to deliver fluids or medication at a constant rate over a long period of time. The Intermittent Infusion Pumps segment is expected to grow at an increasing CAGR of 5.2%, given these types of pumps are majorly used for periodic administration and delivery of medications.The syringe infusion pumps segment is expected to relatively account for a moderate revenue share. The PCA pumps segment is slated to grow due to increasing demand for relatively better efficient pumps in pain management applications. MRI Compatible IV Infusion Pump Market is expected to reach USD 6.5 billion by 2024 and has an increasing CAGR of 4.8% between 2023 and 2032. The increasing incidence of various chronic diseases and disorders, favorable consumer insurance policies for healthcare, technological advancements, and healthcare expenditure.

Mri Compatible Iv Infusion Pump Market Application Insights

The  Mri Compatible Iv Infusion Pump Market segmentation by application includes Anesthesia, Pain Management, Chemotherapy, Antibiotics Administration, and Contrast Media Delivery. Among these, Anesthesia held the largest market share in 2023, accounting for over 30% of the  revenue. This is due to the increasing number of surgical procedures and the need for precise and controlled delivery of anesthesia during surgery. Pain Management is another major application, with a market share of over 25% in 2023. The growing prevalence of chronic pain conditions and the demand for effective pain management solutions are driving the growth of this segment.

Mri Compatible Iv Infusion Pump Market End User Insights

The end user segment of the  Mri Compatible Iv Infusion Pump Market is categorized into hospitals, ambulatory surgical centers, clinics, and home healthcare settings. Hospitals accounted for the largest share of the market in 2023 and are expected to continue to dominate the market over the forecast period. The high demand for MRI compatible IV infusion pumps in hospitals can be attributed to the increasing number of MRI procedures being performed, as well as the growing adoption of advanced infusion technologies. Ambulatory surgical centers are also expected to witness significant growth in the coming years due to the increasing number of outpatient surgeries being performed.Clinics are another important end-user segment, as they provide a convenient and cost-effective setting for patients to receive MRI-guided infusions. Home healthcare settings are expected to experience moderate growth as more patients opt to receive care in the comfort of their own homes.

Mri Compatible Iv Infusion Pump Market Technology Insights

The  market for MRI compatible IV infusion pumps is segmented by technology into mechanical, electronic, and smart pumps. Mechanical pumps are the most basic type of IV infusion pump and use a mechanical mechanism to deliver fluid to the patient. Electronic pumps are more advanced than mechanical pumps and use electronic controls to deliver fluid more accurately. Smart pumps are the most advanced type of IV infusion pump and use computer technology to deliver fluid with the highest level of accuracy and safety. The smart pumps segment is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of smart pumps in hospitals and clinics.Smart pumps offer a number of advantages over mechanical and electronic pumps, including Higher accuracy: Smart pumps use computer technology to deliver fluid with the highest level of accuracy. This is important for patients who are receiving critical medications or who are at risk for fluid overload. Greater safety: Smart pumps have a number of safety features that help to prevent errors. These features include drug libraries, which can help to prevent the administration of incorrect medications, and dose error reduction software, which can help to prevent the administration of incorrect doses. Improved efficiency: Smart pumps can be programmed to deliver fluid according to a specific schedule. This can help to improve efficiency and reduce the workload for nurses. The growing demand for smart pumps is expected to drive the growth of the  MRI compatible IV infusion pump market over the next five years.

Mri Compatible Iv Infusion Pump Market Regional Insights

The  Mri Compatible Iv Infusion Pump Market is segmented regionally into North America, Europe, Asia Pacific, South America, and the Middle East Africa. North America is expected to hold the largest market share in 2023, owing to the presence of a large number of hospitals and clinics, as well as a high adoption rate of advanced medical technologies. Europe is expected to follow North America in terms of market share due to the presence of a well-developed healthcare infrastructure and a large population of elderly patients. Asia Pacific is expected to experience the highest growth rate during the forecast period due to the rising incidence of chronic diseases and increasing healthcare spending in the region.South America and the Middle East Africa are expected to account for a smaller share of the  market but are expected to experience steady growth during the forecast period.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Mri Compatible Iv Infusion Pump Market Key Players And Competitive Insights:

Major players in the Mri Compatible Iv Infusion Pump Market industry are constantly striving to gain a competitive edge by investing in research and development, launching innovative products, and expanding their  reach. Leading Mri Compatible Iv Infusion Pump Market players are focusing on developing advanced features such as real-time monitoring, dose error reduction, and interoperability with other medical devices. They are also collaborating with hospitals, clinics, and research institutions to gain insights into the evolving needs of the healthcare industry and develop solutions that meet these needs. The Mri Compatible Iv Infusion Pump Market development is driven by factors such as the increasing prevalence of chronic diseases, the growing adoption of minimally invasive procedures, and the rising demand for patient safety.Leading in the Mri Compatible Iv Infusion Pump Market industry, Baxter International is a  medical technology company that provides a wide range of products and services for the healthcare industry. The company's Mri Compatible Iv Infusion Pump portfolio includes a variety of products designed to meet the specific needs of different clinical settings. Baxter International is committed to innovation and is constantly working to develop new and improved products that enhance patient care.A prominent competitor in the Mri Compatible Iv Infusion Pump Market, Smiths Medical is a  provider of medical devices, technologies, and services. The company's Mri Compatible Iv Infusion Pump portfolio includes a range of products that are used in a variety of healthcare settings. Smiths Medical is focused on providing high-quality products that are safe, effective, and easy to use. The company is also committed to providing excellent customer service and support.

Key Companies in the Mri Compatible Iv Infusion Pump Market Include:

• Abbott Laboratories


• Terumo Corporation


• Varian Medical Systems, Inc.


• GE Healthcare


• Mindray Medical International Limited


• Siemens Healthineers AG


• Becton, Dickinson and Company


• Elekta AB


• Accuray Incorporated


• Smiths Medical


• Fresenius SE Co. KGaA


• Braun Melsungen AG


• Baxter International Inc.


• Nihon Kohden Corporation


• Medtronic

Mri Compatible Iv Infusion Pump Market Industry Developments

The  MRI compatible IV infusion pump market is projected to reach USD 8.2 billion by 2032, exhibiting a CAGR of 4.04% during the forecast period (2024-2032). The market growth is attributed to the increasing prevalence of chronic diseases, rising demand for minimally invasive procedures, and technological advancements in infusion pumps. Key industry participants include BD, Baxter, and Medtronic. Recent news developments include the launch of new products, such as the ARKPIUM MRI-compatible infusion pump by Arkray and the CE mark approval for the Iven™ MRI-compatible infusion pump by ICU Medical. These developments indicate a growing focus on patient safety and convenience in the MRI compatible IV infusion pump market.

Mri Compatible Iv Infusion Pump Market Segmentation Insights

Mri Compatible Iv Infusion Pump Market Product Type Outlook

• Magnetic Resonance Imaging (MRI) Compatible Infusion Pumps


• Non-MRI Compatible Infusion Pumps

Mri Compatible Iv Infusion Pump Market Modality Outlook

• Continuous Infusion Pumps


• Intermittent Infusion Pumps


• Syringe Infusion Pumps


• Patient-Controlled Analgesia (PCA) Pumps

Mri Compatible Iv Infusion Pump Market Application Outlook

• Anesthesia


• Pain Management


• Chemotherapy


• Antibiotics Administration


• Contrast Media Delivery

Mri Compatible Iv Infusion Pump Market End User Outlook

• Hospitals


• Ambulatory Surgical Centers


• Clinics


• Home Healthcare Settings

Mri Compatible Iv Infusion Pump Market Technology Outlook

• Mechanical


• Electronic


• Smart

Mri Compatible Iv Infusion Pump Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa