Infusion Pumps are the medical devices which are used to deliver medication or nutrient to the body. Global Infusion Pumps market is expected to grow at a CAGR of 5.2 % during forecasted period 2018-2023.
Global Infusion Pump Market – Dominant Players
Some of the key players in this market are: 3M, B. BRAUN MELSUNGEN AG, Baxter, Becton, Dickinson and Company, Fresenius Kabi AG, ICU Medical, Inc, Smiths Medical, and Terumo Medical Corporation.
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Global Infusion Pump Market – Overview
Infusion Pump deliver the controlled amount of fluids and thus are helpful in delivering medication in diseases like diabetes. The major reason for the growth of this market is increasing prevalence of diseases like diabetes and cancer. Beside this increasing geriatric population and technological advances has provided fuel for the growth of the market. For instance, in May 2015, Pfizer has acquired Hospira Inc. and is the largest pharmaceutical overtake. This acquisition has increased the Pfizer’s market dramatically. Sapphire pumps which was launched by Hospira Inc. is boosting business.
The Global Infusion Pump Market is growing at a steady pace. The various factors that influence the growth of the market are increased use of infusion pumps for the delivery of drugs and other fluids, rising prevalence of chronic and fatal diseases, high demand of the infusion systems in the military medical units, technological advancements from the leading market players. Furthermore, the factors such as patient safety concerns and improper infusion leading to the severe consequences, unmet medical needs in the low-income countries are hamper the growth of the market.
Global Infusion Pump Market – Key Finding
- The Infusion Pump Market and is expected to reach $9.71 billion by 2023.
- Volumetric holds the largest share of 37.1% of the market.
- North America holds the largest market share of Infusion pump market and is anticipated to reach $3.49 billion by the end of forecast period.
- Globally, Asia-Pacific the fastest growing region and expected to grow at the rate of 5.4% during the forecast period.
Global Infusion Pump Market – Segments
Infusion Pump market has been segmented on the basis of type which comprises of volumetric pump, syringe pump, ambulatory pump, & others. Volumetric pump accounted for the largest market share of the total market in 2016. On the basis of application, market is segmented into Chemotherapy, diabetes, gastrointestinal diseases, pediatrics, and others. Chemotherapy segment accounted for the largest market share of the total market in 2016. On the basis of end user, market is segmented into hospitals, ambulatory surgical centers, homecare, & others. Hospitals dominated the global market with the largest market share in 2016.
Global Infusion Pump Market – Company
Due to increasing prevalence of diseases like diabetes and cancer in the world has attracted man of the major and medium sized company to introduce the better and effective alternatives for the treatment. Presence of many minor and medium sized companies in the market has created competition. And so major companies are acquiring and merging with small companies so as to minimize the competition and increase the market.
For instance, CareFusion Corporation has developed the Alaris Pump module which is an infusion pump helps in continuous or intermediate delivery of fluid, blood or medication to patient of any age.
Johnson & Johnson has introduced Animas® Insulin Pumps for delivery of insulin to the diabetic patients. This pump is attached to Animas® Vibe® System for proving the real-time blood glucose insights.
Smith’s Medical has launched CADD® an ambulatory infusion pump which provide reliable performance and accurate medication delivery. Due to small, lightweight and easy to use it is expected that this pump is soon find its place in home care segment. Beside this MEDFUSION™ a syringe infusion system is also widely used due to its dose accuracy, safety and simplicity.
Global Infusion Pump Market – Regional Analysis
Globally North America is the largest market for Infusion Pump and is expected to commands the largest market share due to advanced technologies are continuously on rise in these countries. North America is expected to reach $3.49 billion by the end of 2023. Europe accounts for the second largest market and is expected to reach nearly $3.11 billion, whereas Asia Pacific with lots of opportunity and continuously growing economies, is expected to be the fastest growing segment with the CAGR of 5.4% during 2017-2023. This rapid growth is majorly due to recent developments in healthcare and improving economies and disposable income per individual. Middle East and Africa with less economic developments and extremely low-income accounts for least market share in 2016 but is expected to grow with better infusion treatment in the countries.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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