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Veterinary Infusion Pump Market, by Product Type (Syringe Infusion Pump and Large-Volume Infusion Pump), by End User (Veterinary Hospitals and Veterinary Clinics.

08-28-2018 04:10 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Veterinary Infusion Pump Market, by Product Type (Syringe

Veterinary Infusion Pump Market - Global Industry Insights

Controlled analgesia veterinary infusion pumps are commonly used in healthcare settings and are widely used to transfer medications, nutrients, and fluids inside the patient body at regular intervals in accurate dosages. The infusion of medication into the veterinaries plays a vital role in current therapeutic regimens. They are used across the healthcare settings right from inpatient, outpatient, and private clinics to at-home settings. Veterinary infusion pumps have revolutionized the administration of intravenous medications with programmed features such as intermittent and preprogramming, bolus dosing, and standby mode.

Furthermore, the trend of pet adoption is gaining rapid traction across the globe. Increasing inclination of consumers towards western culture and changing lifestyles in emerging economies such as India and China have increased the adoption of pet animals, which in turn is supporting the growth of the veterinary infusion pump market. According to the American Veterinary Medical Foundation (AVMF), around 43,346,000 pet dogs and 36,117,000 pet cats were adopted in the U.S. in 2012, with mean veterinary spending on these pegged at US$ 378 and US$ 191 respectively per year. This favored the growth of the veterinary infusion pump market. Furthermore, the progression of new diseases offers untapped opportunities for the animal healthcare. For instance, Porcine Epidemic Diarrhea Virus (PEDV) has been discovered caused by corona virus leading to infection in the cell lining within the small intestine of pigs.

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The veterinary infusion pump market is estimated to be valued at US$ 76.89 Mn in 2017 and is expected to witness a robust CAGR of 5.6% during the forecast period (2017 - 2025).

Increasing prevalence of cancer along with rise in relapsed cancer rates among animals, increasing demand for approved novel immunotherapies and targeted therapies, which are proved to be highly effective for the treatment of cancers in pets are some of the factors augmenting growth of the veterinary infusion pump market. According to the study by Fetch a Cure, 2015, dogs and cats have a higher incidence of tumors than humans, where dogs are 35 times more likely to develop skin cancer, four times more likely to develop breast tumors and eight times more likely to develop bone cancer than humans. According to the study by Animal Cancer Foundation, 2017, around 25% of all dogs are projected develop a tumor at some point in their life, which supports the increasing demand for veterinary infusion pumps in the near future.

According to the study by PetMD, LLC. 2015, around 95% of dogs were treated for lymphoma with chemotherapy protocols and conventional treatments are expected to experience disease relapse or remission. The duration of remission is less than 15 months in 50% of dog species. In spite of the relapse rate associated with these medicines, veterinarians recommend other approved therapeutics for the cancer treatment of pets that is expected to additionally generate the revenue for the market players. For instance, in 2017, a novel chemotherapy drug named Tanovea-CA1 (rabacfosadine for injection), manufactured by VedDC, Inc. was conditionally approved by the Food and Drug Administration (FDA), as a first line treatment for dogs to treat relapsed/refractory lymphoma and canine lymphoma, which can be administered through the veterinary infusion pump.

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Consistent technological development also supports the growth of veterinary infusion pump market in the near future

Consistent development in the technology pertaining to veterinary infusion pumps are encountered for several times in the evolution of veterinary infusion. This has led to development of devices with extremely sophisticated and hassle-free drug delivery capabilities in terms of drug transfusion as well as control and monitoring the delivery of fluids in to the patients. In order to improve the performance and reliability, companies are focused towards the development of advanced infusion pumps that facilitates user friendly and portable devices to ease the utility and functioning associated with these pumps.

Moreover, the companies are now focusing towards developing pumps that are more efficient and accurate as compared to the existing pumps by indulging into research and development associated with smart infusion pumps as well enhancing the wireless connectivity with respect to operation of these pumps. For instance, BodyGuard 121 Twins for Vet consists of two independent channels that extend the therapeutic range of option. As the device allows user to set up fast high volume rapid infusions by mixing two different infusion solutions for an animal or by infusing to two different animals from one device.

Although technological advancements are encountered on a consistent basis in the veterinary infusion pump technology, the high costs incurred with these devices makes the unaffordable to a large vet pool that belongs to low and moderate economies. Thus, the price point associated with automatic and smart infusion pumps are also expected to create a barrier in the global veterinary infusion pumps market growth.

Key players operating in veterinary infusion pumps market include B. Braun Melsungen AG, Heska Corporation, Q Core Medical Ltd., Burtons Medical Equipment Ltd., DRE Medical, Inc., Grady Medical, Promed Group Co., Ltd., and SAI Infusion Technologies.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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