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Global Infusion Pumps Market To Be At Forefront By 2024

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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.
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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
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ravikiran
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