Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Infusion pumps are available either in drops (20 ml generally) or in large volume (volumetric pumps). Moreover, usage of infusion pumps require trained personnel, as pump failure might have adverse health effects on patients. There are different types of infusion pumps, which include syringe pumps, ambulatory pumps, volumetric pumps, implantable pumps, and insulin pumps. The global infusion pumps market is estimated to account for US$ 3,517.0 Mn in terms of value by the end of 2019.
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Moreover, increasing prevalence of chronic diseases is expected to drive growth of the global infusion pumps market over the forecast period. For instance, according to the World Health Organization, 2018, 1 in every 5 men and 1 in every 6 women globally develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. Moreover, manufacturers are focusing on expanding regional presence, which is expected to offer lucrative growth opportunities for market players. For instance, in December 2018, Fresenius Medical Care expanded its presence in China through acquiring 70% share of Guangzhou KangNiDaiSi Medical Investment Co., Ltd. However, infusion pumps are prone to user errors, and this is expected to hamper growth of the global infusion pumps market over the forecast period. For instance, ECRI Institute, an independent nonprofit organization authority on the medical practices and products ranked medication errors related to infusion pumps as a top technology hazard in 2019.
Key Takeaways:
Moreover, volumetric pumps segment in the global infusion pumps market was valued at US$ 747.0 Mn in 2018 and is expected to reach US$ 1,242.0 Mn by 2027 exhibiting a CAGR of 6.1% over the forecast period. The segment growth is attributed to increasing patient population and rising number of acquisitions by key players in new regions, in order to expand and strengthen their market presence. In addition, analgesia segment held a dominant position in the global infusion pumps market in 2018, accounting for 24.3% share in terms of value, followed by gastroenterology and hematology segments, respectively. The increasing patient population and new product approvals by regulatory bodies are expected to drive growth of the segment over the forecast period. Furthermore, among product type, ambulatory pumps segment and insulin pumps segment are expected to witness significant growth over the forecast period, owing to increasing prevalence of chronic diseases. However, implantable pumps segment is expected to witness decline, owing to increasing FDA recalls.
Market Trends
Key players in the market are focused on gaining contracts to enhance their market share. For instance, in September 2019, Shift Labs, Inc., a manufacturer of infusion technologies, received a Phase II Small Business Innovation Research (SBIR) contract from the U.S. Air Force (USAF) through the AFWERX innovation program. Moreover, market players are focused on advancements in infusion pump technology. For instance, in March 2019, Intelligraphics Inc. launched IGX MED, a Wireless Advanced Roaming device driver suite for medical systems including infusion pumps, heart, and hypertension monitoring.
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Regulations
The U.S. FDA has put forward stringent clearance process that resulted in longer mark-to-market timings and several product recall and rejections.
Global Infusion Pumps Market: Competitive Landscape
Key players operating in the global infusion pumps market include B. Braun Melsungen AG, CareFusion Corporation, Fresenius Kabi AG, Terumo Corporation, Medtronic Plc., Baxter International Inc., Smiths Medical, MOOG Inc., Johnson & Johnson Private Ltd., and Hospira, Inc.
Key Developments
In November 2018, Citus Health, a digital health solutions provider launched Citus Video Chat, a new video chat solution that can be used for post-acute care, including home infusion and specialty pharmacy. Moreover, in March 2018, Connexall, an alarm management and event notification provider and ICU Medical, developer of innovative medical devices used in infusion therapy, jointly integrated ICU Medical MedNet to the Connexall alarm management and event notification platform, which allowed hospitals to transmit and selectively filter the secondary alarms from several of ICU Med’s infusion pumps.
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Segmentation
- Global Infusion Pumps Market, By Product Type:
- Syringe pumps
- Ambulatory pumps
- Volumetric pumps
- Implantable pumps
- Insulin pumps
- Enteral pumps
- PCA pumps
- Pump Accessories
- Global Infusion pumps Market, By Application:
- Chemo Therapy/Oncology
- Pediatrics/Neonatology
- Analgesia
- Gastroenterology
- Hematology
- Diabetes
- Global Infusion pumps Market, By End User:
- Hospitals
- 500+ bed
- 200-400 bed
- less than 200 beds
- Ambulatory clinics
- Home care
- Clinics
- Others
- Hospitals
- Global Infusion pumps Market, By Region:
- North America:
- By Product Type:
- By Application:
- By End User:
- By Country:
- U.S.
- Canada
- Latin America:
- By Product Type:
- By Application:
- By End User:
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Product Type:
- Syringe pumps
- Ambulatory pumps
- Volumetric pumps
- Implantable pumps
- Insulin pumps
- Enteral pumps
- PCA pumps
- Pump Accessories
- By Application:
- Chemo Therapy/Oncology
- Pediatrics/Neonatology
- Analgesia
- Gastroenterology
- Hematology
- Diabetes
- By End User:
- Hospitals
- 500+ bed
- 200-400 bed
- less than 200 beds
- Ambulatory clinics
- Home care
- Clinics
- Others
- Hospitals
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Product Type:
- Asia Pacific
- By Product Type:
- Syringe pumps
- Ambulatory pumps
- Volumetric pumps
- Implantable pumps
- Insulin pumps
- Enteral pumps
- PCA pumps
- Pump Accessories
- By Application:
- Chemo Therapy/Oncology
- Pediatrics/Neonatology
- Analgesia
- Gastroenterology
- Hematology
- Diabetes
- By End User:
- Hospitals
- 500+ bed
- 200-400 bed
- less than 200 beds
- Ambulatory clinics
- Home care
- Clinics
- Others
- Hospitals
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Product Type:
- Middle East
- By Product Type:
- Syringe pumps
- Ambulatory pumps
- Volumetric pumps
- Implantable pumps
- Insulin pumps
- Enteral pumps
- PCA pumps
- Pump Accessories
- By Application:
- Chemo Therapy/Oncology
- Pediatrics/Neonatology
- Analgesia
- Gastroenterology
- Hematology
- Diabetes
- By End User:
- Hospitals
- 500+ bed
- 200-400 bed
- less than 200 beds
- Ambulatory clinics
- Home care
- Clinics
- Others
- Hospitals
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Product Type:
- Africa
- By Product Type:
- Syringe pumps
- Ambulatory pumps
- Volumetric pumps
- Implantable pumps
- Insulin pumps
- Enteral pumps
- PCA pumps
- Pump Accessories
- By Application:
- Chemo Therapy/Oncology
- Pediatrics/Neonatology
- Analgesia
- Gastroenterology
- Hematology
- Diabetes
- By End User:
- Hospitals
- 500+ bed
- 200-400 bed
- less than 200 beds
- Ambulatory clinics
- Home care
- Clinics
- Others
- Hospitals
- By Country:
- South Africa
- Central Africa
- North Africa
- By Product Type:
- North America:
- Company Profiles
- Company Overview
- Material Portfolio
- Financial Performance
- Key Highlights
- Market Strategies
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