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.
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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. Companies are constantly focusing on improving the infusion pump technology to improve fluid delivery. For instance, Baxter is developing a new technology for infusion pumps, which is expected to replace its Colleague infusion pump. 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.
This report segments the global infusion pumps market on the basis of product type, application, channel type, end user, and geography. On the basis of product type, the market is categorized into ambulatory pumps, volumetric pumps, syringe pumps, enteral, insulin, implantable, patient controlled analgesia pumps and pump accessories. On the basis of application, the market is segmented into chemotherapy/oncology, pediatrics/neonatology, analgesia, gastroenterology, hematology, diabetes. On the basis of channel type, the global infusion pumps market is segmented into single channel and multi-channel pumps. The end user segment is divided into hospitals, ambulatory clinics, home care, clinics and others. For comprehensive understanding of market dynamics, the global infusion pumps market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
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Key features of the study:
- This report provides in-depth analysis of the infusion pumps products and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2016 – 2024, considering 2015 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global infusion pumps market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
- 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
- Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, end user upgrades, market expansion, and marketing tactics
- The global infusion pumps market report caters to various stakeholders in this industry, including investors, suppliers and distributors for infusion pumps, research and consulting firms, new entrants, and financial analysts
- Various strategy matrices used in analyzing the infusion pumps market would provide stakeholders vital inputs to make strategic decisions accordingly
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