Global Infusion Pumps Market To Be At Forefront By 2024embed
An infusion pump delivers medications and nutrients to patients who cannot take the same orally. These devices find wide application in hospitals to administer drugs in a controlled rate as programmed by the healthcare professional.
Global Infusion Pumps Market Widespread Research and Fundamental study to 2024 Global Infusion Pumps Market, By Device Type (Ambulatory, Volumetric Pumps, Syringe Pumps, Enteral, Insulin, Implantable, Patient Controlled Analgesia Pumps, Pump Accessories), Application (Chemo Therapy/Oncology, Pediatrics/Neonatology, Analgesia, Gastroenterology, Hematology, Diabetes), Channel Type (Single Channel, Multi-Channel), End User (Hospitals, Ambulatory clinics, Home care, Clinics), and Geography - Trends, Size, and Forecast Analysis 2024 An infusion pump delivers medications and nutrients to patients who cannot take the same orally. These devices find wide application in hospitals to administer drugs in a controlled rate as programmed by the healthcare professional. These pumps offer various advantages over manual administration of medications or any other fluids such as automated delivery of fluids in smaller volumes at preset intervals. High-risk medications for cancer, anesthesia, and diabetes (insulin), among others can thus be safely delivered using infusion pumps. A variety of infusion pumps are available in the market including ambulatory pumps, volumetric pumps, syringe pumps, enteral pumps, insulin pumps, and implantable pumps. The Global Infusion Pumps Market was valued at US$ 2,985.5 million in 2015 and is expected to witness a moderate CAGR of 6.0% during the forecast period (2016 – 2024). Market Dynamics Accurate engineering of infusion pumps is very essential to avoid over- or under-infusion of medications. To ensure safe usage of these devices, the U.S. FDA issued a three step program in 2010: •Increasing awareness among the users •Proactively facilitating improvements in infusion pump devices •Publishing guidelines for the industry In January 2017, the regulatory body issued a statement addressing caution in MRI scan of patients with implantable infusion pumps. It stated that only infusion pumps labeled as MR-conditional should be scanned safely under specific conditions mentioned by the manufacturer of infusion pump. Ambulatory infusion pumps offer the user a convenience to administer medications while on the move. The infusion pump market is attracting investments by non-existing market players. ICU Medical, Inc. acquired Hospira’s infusion pumps business from Pfizer, Inc. in February 2017 for US$ 900 million. Request For Sample Copy of This Business Report @ https://www.coherentmarketinsights.com/insight/request-sample/127 Infusion pumps have revolutionized the administration of intravenous medications with potentially game changing programming features such as intermittent and preprogramming, bolus dosing, and standby mode. According to a featured article by Wolters Kluwer Health, Inc., in 2007, around 90% of hospitalized patients in the U.S. received IV medications, most being delivered by an infusion pump. This trend argues favorably for growth of the infusion pumps market in the foreseeable future. Key companies covered as a part of this study include ICU Medical, Inc. Smiths Group plc, Baxter International Inc., Fresenius Se & Co. KGaA, Johnson & Johnson, Medtronic PLC, Becton, Dickinson and Company, Moog, Inc., Terumo Corporation, and B. Braun Melsungen AG. Detailed Segmentation: •Global Infusion Pumps Market, By Device Type: •Ambulatory •Volumetric Pumps •Syringe Pumps •Enteral •Insulin •Implantable •Patient Controlled Analgesia Pumps •Pump Accessories •Global Infusion Pumps Market, By Application: •Chemo Therapy/Oncology •Pediatrics/Neonatology •Analgesia •Gastroenterology •Hematology •Diabetes •Global Infusion Pumps Market, By Channel Type: •Single Channel •Multi-Channel Application-specific products an emerging strategy adopted by infusion pumps market players Well managed and schematic approach towards integration of major players followed by various acquisitions in infusion pumps market is expected to fuel the product advancement and product introduction in the infusion pumps market. According to CareFusion Corporation, in 2013, around 61% of most costly and serious medication errors were related to intravenous infusions in the U.S., which was the major concern of the hospitals to make the system error free and effortless. To address the same, CareFusion Corporation introduced a new system named Alaris System, having Guardrails Suite MX software and combines a single point-of-care unit. As statistics suggest, there were significant number of mergers and acquisition that have added to the development and advancement of new infusion pumps products. For instance: •In 2015, Becton Dickinson acquired CareFusion Corporation – a provider of large volume infusion pump – this acquisition is expected to favor the growth in product portfolio of Becton Dickinson & Company •In 2015, Medtronic – a medical device company with extensive product line – acquired Covidien – a health care products company and global manufacturer of medical devices. This is expected to favor the company’s expansion in terms of geography About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1–206–701–6702 Email: [email protected]