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Meticulous Research® – leading global market research company published a research report titled Infusion Pumps Market ,Product (Devices [Volumetric, Insulin, Enteral, Ambulatory, PCA], Accessories, Smart Infusion System), Application (Hormones, Antibiotics, Chemotherapy drugs), End User (Hospital, Home Health Care, ACS) - Global Forecast to 2024Infusion pumps have contributed to improvements in patient care, allowing greater levels of control, accuracy and precision in drug delivery. Today, they are used in both life-sustaining as well as life-saving treatments within clinical areas like anesthesia, intensive care, and oncology. The pumps are also used at wards, within the home care environment, and at hospice (palliative care) for fluid therapy, pain relief, and other drug treatments which is driving their adoption.
Rising demand for ambulatory infusion pumps, increasing incidence of chronic diseases along with the rapid growth in the geriatric population, growing volume of surgical procedures, and rising demand for infusion pumps for home healthcare are the driving factors for the growth of infusion pump market. Growing adoption of specialty infusion systems and increasing demand in the emerging markets provides significant opportunities for the infusion pump vendors.
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Key players are likely to focus on a very lucrative home healthcare segment in the forecast period. For instance, according to Centers for Medicare & Medicaid Services, U.S. health care spending grew 3.9 percent in 2017, reaching $3.5 trillion or $10,739 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.9 percent. Meanwhile, lower-middle-income countries, which spent $267 per capita in 2014, are expected to increase spending by $577, and low-income countries, which spent $120 in 2014 are expected to increase spending by $75 in 2040.
One of the major trends in this market is the growing demand for wireless infusion pumps. This enables the pump to wirelessly communicate with a variety of information systems and medical devices. The ability of an infusion pump device to interact with the EMR helps to automate work flow, reduce costs, save time, and reduce duplication errors.
On the basis of product, the accessories/consumables segment accounted for the largest share of the infusion pumps market in 2017. Recurrent use and repeat purchase of accessories/consumables for infusion therapy supports the high share of this segment.
Based on end users, hospitals segment dominated the market in 2017. The large share is attributed to the high purchasing power of hospitals for high-priced infusion devices, large patient pool, and the availability of trained professionals to operate infusion pumps. Home health care was identified as the fastest growing segment in global infusion pump market. Home health care are expected to grow at a highest CAGR during the forecast period.
The report includes extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 3 years (2015-2019). For instance, in April 2017, Becton, Dickinson and Company completed the acquisition of Israeli-based Caesarea Medical Electronics (CME), a global infusion pump systems manufacturer. The acquisition of CME helped expand BD’s infusion pump portfolio to include ambulatory, home, and specialty acute care infusion pumps.
The major players operating in global infusion pump market are Becton, Dickinson and Company (BD), B. Braun Melsungen, Baxter International, Fresenius Kabi, ICU Medical, Medtronic, Moog Inc., Smiths Medical (A Division of Smiths Group PLC), Terumo Corporation, Roche Diagnostics (A Division of F. Hoffmann-LA Roche Ltd.), and Halyard Health.
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Key Topics Covered in This Report:
1. Introduction
1.1. Market Ecosystem
1.2. Currency & Limitation
1.2.1. Currency
1.2.2. Limitation
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
4. Market Insights
4.1. Drivers
4.1.1. Rising Demand for Ambulatory Infusion Pumps
4.1.2. Increasing Incidence of Chronic Diseases Along With the Rapid Growth in the Geriatric Population
4.1.3. Growing Number of Surgical Procedures Performed
4.1.4. Increase in awareness towards home healthcare
4.2. Restraint
4.2.1. Frequent Product Recalls of Infusion Pumps
4.2.2. Stringent Regulatory Requirements for New Products
4.2.3. Increasing Adoption of Refurbished and Rental Infusion Pumps
4.3. Opportunities
4.3.1. Emerging Markets
4.3.2. Growing Adoption of Specialty Infusion Systems
4.4. Challenges
4.4.1. Increasing Incidence of Medication Errors and Lack of Wireless Connectivity in Hospitals
5. Infusion Pumps Market, By Product
5.1. Devices
5.1.1. Volumetric Infusion Pumps
5.1.2. Syringe Infusion Pumps
5.1.3. Insulin Infusion Pumps
5.1.4. Ambulatory Infusion Pumps
5.1.4.1. Disposable Infusion Pumps
5.1.4.2. Chemotherapy Infusion Pumps
5.1.5. Enteral Infusion Pumps
5.1.6. Pca Infusion Pumps
5.1.7. Implantable Infusion Pumps
5.2. Infusion Pump Accessories/Consumables
5.2.1. Dedicated Accessories/Consumables
5.2.1.1. Volumetric Infusion Pump Accessories/Consumables
5.2.1.2. Enteral Infusion Pump Accessories/Consumables
5.2.1.3. Insulin Infusion Pump Accessories/Consumables
5.2.1.4. Syringe Infusion Pump Accessories/Consumables
5.2.1.5. Ambulatory Infusion Pump Accessories/Consumables
5.2.1.6. Pca Pump Accessories/Consumables
5.2.1.7. Implantable Infusion Pump Accessories/Consumables
5.2.2. Non-Dedicated Accessories/Consumables
5.2.2.1. Infusion Catheters
5.2.2.2. IV/Administration Sets
5.2.2.3. Needleless Connectors
5.2.2.4. Cannulas
5.2.2.5. Tubing and Extension Sets
5.2.2.6. Valves
5.2.2.7. Other Non-Dedicated Accessories/Consumables
5.3. Smart Infusion Systems
6. Infusion Pumps Market, By Channel
6.1. Introduction
6.2 .Single Channel
6.3. Multi Channel
7. Infusion Pumps Market, By Application
7.1. Introduction
7.2. Hormones
7.3. Antibiotics
7.4. Chemotherapy drugs
7.5. Pain Relievers
7.6. Others
8. Infusion Pumps Market, By End user
8.1. Introduction
8.2. Hospitals
8.3. Home Health Care
8.4. Ambulatory Care Settings
8.5. Academic & Research Institutes
8.6. Other
9. Infusion Pumps Market, by Geography
9.1. North America
9.1.1. U.S.
9.1.2. Canada
9.2. Europe
9.2.1. Germany
9.2.2. France
9.2.3. U.K.
9.2.4. Italy
9.2.5. Spain
9.2.6. Rest of Europe
9.3. Asia-Pacific
9.3.1. China
9.3.2. Japan
9.3.3. India
9.3.4. Rest of Asia-Pacific
9.4. Rest of the World
9.4.1. Latin America
9.4.2. Middle East & Africa
10. Competitive Landscape
10.1. New Product Launches
10.2. Agreements, Partnerships & Collaboration
10.3. Expansions
10.4. Mergers & Acquisitions
11. Company Profile
11.1. Becton, Dickinson and Company (BD)
11.2. B. Braun Melsungen
11.3. Baxter International
11.4. Fresenius Kabi
11.5. ICU Medical
11.6. Medtronic
11.7. Moog Inc. (Moog)
11.8. Smiths Medical (A Division of Smiths Group PLC)
11.9. Terumo Corporation
11.10. Roche Diagnostics (A Division of F. Hoffmann-LA Roche Ltd.)
11.11. Halyard Health
11.12. Mindray Medical International Limited
11.13. Micrel Medical Devices
11.14. Insulet Corporation
12. Appendix
12.1. Questionnaire
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