Infusion Pumps Market Insights With Key Players ICU Medical, Smiths Group, Baxter International, Fresenius .KGaA, Johnson & Johnson, Medtronic

The global infusion pumps market was valued at US$ 2,985.5 million in 2015 and is expected to witness a moderate CAGR of 6.0% during the forecast period (2016 – 2024).

An infusion pump delivers medications and nutrients to patients who cannot take the same orally. These devices find wide application in hospitals to administer drugs in a controlled rate as programmed by the healthcare professional. These pumps offer various advantages over manual administration of medications or any other fluids such as automated delivery of fluids in smaller volumes at preset intervals. High-risk medications for cancer, anesthesia, and diabetes (insulin), among others can thus be safely delivered using infusion pumps. A variety of infusion pumps are available in the market including ambulatory pumps, volumetric pumps, syringe pumps, enteral pumps, insulin pumps, and implantable pumps.

Major investments are being made by key players for the advancement of products that are used in the infusion pumps devices, owing to increasing number of applications and better return on investment. For instance, an update from VertMarkets, Inc. revealed that Baxter is developing a new infusion pump platform, reinvigorating bio-surgery sector. Also, companies are focusing on product advancements to increase application area of infusion pumps for analgesic applications. According to Journal of Emergency Medical Services, in 2017, an infusion pump system can be an important breakthrough for ketamine delivery, which is to begin with a bolus dose, followed by a drip. Furthermore, increasing prevalence of chronic pain and rising population who are suffering from various types of cancer are other factors that create a conducive environment for infusion pumps market growth. Also, rising prevalence of gastroenterological procedures worldwide are expected to underpin the infusion pumps market growth. In 2016, according to the National Cancer Institute, around 1,685,210 new cases of cancer were diagnosed in the U.S., which are projected to lead to around 595,690 fatalities.

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Market Dynamics

Accurate engineering of infusion pumps is very essential to avoid over- or under-infusion of medications. To ensure safe usage of these devices, the U.S. FDA issued a three step program in 2010:

Increasing awareness among the users
Proactively facilitating improvements in infusion pump devices

Publishing guidelines for the industry
In January 2017, the regulatory body issued a statement addressing caution in MRI scan of patients with implantable infusion pumps. It stated that only infusion pumps labeled as MR-conditional should be scanned safely under specific conditions mentioned by the manufacturer of infusion pump. Ambulatory infusion pumps offer the user a convenience to administer medications while on the move. The infusion pump market is attracting investments by non-existing market players. ICU Medical, Inc. acquired Hospira’s infusion pumps business from Pfizer, Inc. in February 2017 for US$ 900 million.

Market Taxonomy

This report segments the global infusion pumps market on the basis of product type, application, channel type, end user, and geography. On the basis of product type, the market is categorized into ambulatory pumps, volumetric pumps, syringe pumps, enteral, insulin, implantable, patient controlled analgesia pumps and pump accessories. On the basis of application, the market is segmented into chemotherapy/oncology, pediatrics/neonatology, analgesia, gastroenterology, hematology, diabetes. On the basis of channel type, the global infusion pumps market is segmented into single channel and multi-channel pumps. The end user segment is divided into hospitals, ambulatory clinics, home care, clinics and others. For comprehensive understanding of market dynamics, the global infusion pumps market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Infusion pumps have revolutionized the administration of intravenous medications with potentially game changing programming features such as intermittent and preprogramming, bolus dosing, and standby mode. According to a featured article by Wolters Kluwer Health, Inc., in 2007, around 90% of hospitalized patients in the U.S. received IV medications, most being delivered by an infusion pump. This trend argues favorably for growth of the infusion pumps market in the foreseeable future. In spite of being a precise fluid and medication transferring devices still, 35%-60% of the 700,000 adverse drug events (ADEs) annually reported in the U.S. are related to delivery through infusion pumps, which can further cause morbidity and mortality. This has necessitated extensive focus by players in the global infusion pumps market on R&D to reduce error rates associated with infusion pumps and introduce further advancements in existing products. For instance, according to Qual Saf Health Care’s research paper, in 2009, there were recommendations to use smart infusion devices to overcome the errors in infusion and favor the growth of the global infusion pumps market. Manufacturers have developed devices that have dose error reduction systems (DERS) with dosing limits and clinical advisories under hospital-defined drug libraries. Smart pumps are now being designed with safety software that are drug-specific.

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