A recent report on Next-Generation IV Infusion Pumps Market provides a detailed analysis of the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Next-Generation IV Infusion Pumps Market Size
Global Next-Generation IV Infusion Pumps Market is valued at USD 1923.4 Million in 2020 and expected to reach USD 2854.1 Million by 2027 with a CAGR of 5.8% over the forecast period.
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Scope of Next-Generation IV Infusion Pumps Market
Next-Generation IV infusion pumps are designed to improve infusion efficiency and system usability, so as to reduce potential IV medication errors. These systems give patient infusion information to better informed choices in the management regarding genuine health problems. Introduction of real-time dosing direction and programmed drug library gives quick feedback on drug consistence, which helps clinicians in choosing the drug concentration from the suitable predetermined list. In addition, the presentation of this technology also diminishes manual steps, as smart infusion pump have the arrangement of auto programming and auto documentation with Electronic Medical Record (EMR) and Bar Code Medication Administration (BCMA). Presentation of Smartphone user gives programming precision and security to proficiently manage infusion pumps. Real-time display of infusion details alongside system dashboard supports clinicians with better IV infusion organization. In 1658, the first working IV infusion device was invented by the famous English architect Christopher Wren.
COVID-19 pandemic has shown a positive impact on the growth of the global next-generation IV infusion pump market. During COVID-19 pandemic, increased demand of next-generation IV infusion pumps to treat number of Coronavirus patients across the globe has created a massive-short term flood in the demand of next-generation IV infusion pumps. Quicker regularity approvals during this time-frame will additionally propel the worldwide the market possibilities. However, in number of countries situations like lockdown has stopped manufacturing which has fundamentally contributed in the market disturbance. Thus, organizations are dealing with short term operational issues because of supply chain constraints and the inaccessibility of industrial facilities because of the COVID-19 outbreak.
The global next-generation IV infusion pumps market is segmented on the basis of product type, application end-user and region & country level. On the basis of product type, the next-generation IV infusion pumps market is divided into large volumetric infusion systems, patient controlled analgesia pumps, syringe infusion system, electronic -ambulatory infusion system, implantable infusion system, MRI compatible IV infusion pumps system, disposable elastomeric infusion system, IV disposables. On the basis of application, the market is divided into chemotherapy/oncology, diabetes, gastroenterology, analgesia/pain management, paediatrics/neonatology, hematology and other applications. On the basis of end-user, market is divided into hospitals, home care settings, ambulatory care settings and academic & research institutes.
Global Next-Generation IV Infusion Pumps Market Segmentation:
- Large Volumetric Infusion Systems
- Syringe Infusion Systems
- Electronic Ambulatory Infusion Systems
- Patient Controlled Analgesia Pumps
- Disposable Elastomeric Infusion Systems
- Implantable Infusion Systems
- MRI-Compatible IV Infusion Pump Systems
- IV Disposables
- Analgesia/Pain Management
- Other Applications
- Home Care Settings
- Ambulatory Care Settings
- Academic & Research Institutes
The regions covered in next-generation IV infusion pumps market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global next-generation IV infusion pumps sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, Egypt, UAE) GCC, Africa, etc.
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Next-Generation IV Infusion Pumps Companies
Key players operating in the next-generation IV infusion pumps market include
- Dickinson and Company (CareFusion)
- Baxter International Inc.
- Fresenius Kabi AG
- Braun Melsungen AG
- Smiths Medical (Smiths Group plc.)
- ICU Medical (Hospira Inc.)
- iRadimed Corporation
- Zyno Medical
- Medtronic Plc
- Terumo Corporation
- Nipro Corporation
- Summit Medical Products, Inc
- Ambu A/S
- Gamastech S.R.L
- vTitan, Acromed AG
- Flowonix Medical, Inc
- Halyard Health
- Tricumed Medizintechnik GmbH
- Ivenix, Inc and others.
Next-Generation IV Infusion Pumps News:
Baxter Received CE Marking and Australian Regulatory Approval for Evo IQ Syringe Infusion System, Building on Smart Pump Platform
On May 20th, 2020; Baxter International Inc announced CE marking and regulatory approval from Australia’s Therapeutic Goods Administration (TGA) for the Evo IQ Syringe Infusion System. The company expects hospitals in the United Kingdom, Ireland, Greece, Australia and New Zealand to be among the first to receive the new system, with additional countries to follow in a series of planned regulatory submissions.
Baxter Announced CE Mark and Regulatory Approval of New Evo IQ Infusion System for the United Kingdom, Ireland, Australia and New Zealand
On August 1st, 2018; Baxter International Inc. announced the CE marking of the Evo IQ Infusion System. In addition to the planned marketing of the device in the United Kingdom, Ireland and New Zealand, the Evo IQ Infusion System recently received regulatory approval by the Therapeutic Goods Administration (TGA) in Australia. These markets represent the first in a series of planned regulatory submissions for the Evo IQ Infusion System in countries around the world, with commercial launch activities starting in the third quarter of 2018.
Increasing Incidences of Chronic Diseases, Growing Technological Developments and Rising Demand for Ambulatory Infusion Pumps in Homecare Settings are Some of the Major Factors Driving the Market Growth
One of the major factors driving the growth of next-generation IV infusion pumps market is increasing incidences of chronic diseases. For instance; according to National Health Council, chronic diseases influence approximately 133 million Americans, addressing over 40% of the total population of this country. By 2020, that number is projected to rise to an expected 157 million, with 81 million having numerous conditions. In addition, rising technological advancements has also been witnessed to boost next-generation IV infusion pumps market during the forecast period. Furthermore, rising demand for ambulatory infusion pumps in homecare settings are also supplementing the market growth. For instance; as per the news published on March 9th, 2021, Eitan Medical received EU MDR clearance for Sapphire infusion system. Eitan Medical’s Sapphire infusion system provides clinicians in medical clinics and home care environment across Europe to delivers an improved on work process, rising its convenience.
However, lack of skilled professionals and lack of standard guidelines for product usage are anticipated to hinder the growth of next generation IV infusion pumps market. In spite of that, government support for start-ups, approving regulatory policies, and growth in production capacity can offer more opportunities in the global next-generation IV infusion pumps market.
North America is Anticipated to Dominate the Global Next-Generation IV Infusion Pumps Market
North America is expected to dominate the global next-generation IV infusion pumps market due to growing technological advancements in healthcare infrastructure, presence of key players and collaboration of various organizations in this region. In addition, increasing cases of chronic diseases, rising geriatric population and high investment on research & development activities in this region are also supplementing the market growth. For example; as per The Rural Health Information Hub; The U.S. population is aging. Today, there are more than 46 million older adults age 65 and older living in the U.S.; by 2050, that number is expected to grow to almost 90 million.
Asia Pacific is predicted to witness the fastest development in next-generation IV infusion pumps in the coming years due to increasing prevalence of chronic diseases, advancements in the field of intravenous treatment in the region. According to CDC, India has the 6.51 crore diabetes cases which is second most highest number of diabetics in the world and is projected to have 10.9 crore influenced people by 2035. The prevalence of diabetes in the nation is 9%. It is assessed that there are another 3.5 crore undiscovered cases of diabetes in India. Non communicable diseases represent 0.98 crore deaths in the country and of all deaths 2% are because of diabetes every year.
By Regional & Country Analysis: (North America, U.S., Canada, Europe, U.K., France, Germany, Italy,Asia Pacific, China, Japan, India, Southeast Asia, Latin America, Brazil, Mexico, Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
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Key Benefits for Global Next-Generation IV Infusion Pumps Market Report:
- Global Next-Generation IV Infusion Pumps Market report covers in-depth historical and forecast analysis.
- Global Next-Generation IV Infusion Pumps Market research report provides detail information about market introduction, market summary, global market revenue (revenue USD), market drivers, market restraints, market opportunities, competitive analysis, regional and country level.
- Global Next-Generation IV Infusion Pumps Market report helps to identify opportunities in marketplace.
- Global Next-Generation IV Infusion Pumps Market report covers extensive analysis of emerging trends and competitive landscape.
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Next-Generation IV Infusion Pumps Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Next-Generation IV Infusion Pumps Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Next-Generation IV Infusion Pumps Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter – Global Next-Generation IV Infusion Pumps Market Overview: Quantitative Analysis
4. Chapter – Global Next-Generation IV Infusion Pumps Market Analysis: Segmentation By Type
5. Chapter – Global Next-Generation IV Infusion Pumps Market Analysis: Segmentation By Application
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