Programmable infusion pumps and catheters are medical devices that provide fluids to the body of a patient in a regulated manner. User alarms are included in the devices, which are activated when there is a possibility of an unfavorable drug interaction or when the pump’s parameters are set outside of its prescribed safety limits. Infusion pumps are used for different purposes such as delivering chemotherapeutic drugs, hormones such as insulin, antibiotics, analgesics, and so on. Although most are designed for stationary use at the patient’s bedside in an ICU, a few, such as ambulatory infusion pumps, are portable. Infusion pumps are made for specialized applications. The enteral pump, for example, is meant to administer medicines to the patient’s digestive tract via tube feeding.
Highlights of the Report:
- In-depth analysis of various insights, namely, Programmable Infusion Pumps and Catheters Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Programmable Infusion Pumps and Catheters Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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The global programmable infusion pumps and catheters market is predicted to develop due to the increased launch of innovative infusion pumps:
The global programmable infusion pumps and catheters market is predicted to increase significantly during the projected period, thanks to frequent approvals of innovative infusion pumps and their launches in developed economies. For example, Smiths Group plc launched its innovative CADD-Solis wireless infusion pump for safe analgesic delivery in April 2018. These infusion pumps are portable, with wireless software and medication library updates that eliminate the need for the user to locate, plug in, and update the pump.
The Prometra programmable intrathecal pump was launched in the United States in April 2013 by Flowonix Medical Inc., a medical device firm that makes implantable drug delivery systems. The pump is implantable and effective in administering Infumorp (preservative-free morphine) to chronic pain patients since it delivers the medicine straight into the spinal cord. For precise dosing, the Prometra pump uses a dual-gated valve drug delivery mechanism.
The global market for programmable infusion pumps and catheters was valued at US$ 8,365.3 million in 2017 and is predicted to grow at a healthy 5.8% CAGR from 2018 to 2026.
The global programmable infusion pumps and catheters market is predicted to grow as a result of company strategies such as product launches and obtaining financing for research.
The market’s expansion is projected to be aided by key players’ involvement in the research and development of new products. For example, Ivenix, Inc., a medical technology startup working on next-generation infusion devices, raised $50 million in March 2017. The funds will be used to pursue FDA clearance and commercial launch of drugs, with new undisclosed investors leading the way and existing investors WuXi Healthcare Ventures and F-Prime Capital Partners joining in.
Regulatory organizations such as the US Food and Drug Administration (FDA), the European Commission (EC), the Therapeutic Goods Administration (TGA), and others have approved new programmable infusion pumps. For example, in August 2018, Baxter International Inc. gained CE clearance and marketing certification from the The European Medicines Agency for their Evo IQ Infusion System, a programmable volumetric infusion pump. The Evo IQ Infusion System is made up of software that reduces dosing errors and an enhanced medication library that ensures patient safety. Such new launches are projected to enhance the global programmable infusion pumps and catheters market growth.
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High costs of programmable infusion pumps and catheters, on the other hand, are a major concern in the healthcare system (particularly in regions with underdeveloped reimbursement facilities) and are expected to restrain global programmable infusion pumps and catheters market growth over the forecast period.
In addition, skilled professionals are required to monitor the infusion parameters stored in the programmable device. These factors are projected to limit the global market for programmable infusion pumps and catheters.
Detailed Segmentation:
- Global Programmable Infusion Pumps and Catheters Market, By Product Type:
- Volumetric Pumps
- Syringe Pumps
- Enteral Pumps
- Insulin Pumps
- Implantable Pumps
- Patient Controlled Analgesia Pumps
- Pump Accessories
- Global Programmable Infusion Pumps and Catheters Market, By Modality:
- Portable
- Stationary
- Global Programmable Infusion Pumps and Catheters Market, By Application:
- Oncology
- Pediatrics/Neonatology
- Pain
- Gastroenterology
- Hematology
- Diabetes
- Global Programmable Infusion Pumps and Catheters Market, By Channel Type:
- Single Channel
- Multi-Channel
- Global Programmable Infusion Pumps and Catheters Market, By End User:
- Hospitals
- Ambulatory Clinics
- Home-Care Settings
- Clinics
- Others
- Global Programmable Infusion Pumps and Catheters Market, By Geography:
Key questions answered in the report:
- What will the market growth rate of Programmable Infusion Pumps and Catheters Market in 2026?
- What are the key factors driving the global Programmable Infusion Pumps and Catheters Market?
- Who are the key manufacturers in Programmable Infusion Pumps and Catheters Market space?
- What are the market opportunities, market risk and market overview of the Programmable Infusion Pumps and Catheters Market?
- What are sales, revenue, and price analysis of top manufacturers of Programmable Infusion Pumps and Catheters Market?
- Who are the distributors, traders and dealers of Programmable Infusion Pumps and Catheters Market?
- What are the Programmable Infusion Pumps and Catheters Market opportunities and threats faced by the vendors in the global Programmable Infusion Pumps and Catheters industry?
- What are sales, revenue, and price analysis by types and applications of Programmable Infusion Pumps and Catheters Market?
- What are sales, revenue, and price analysis by regions of Programmable Infusion Pumps and Catheters industry?
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