Global Infusion Pumps Market Demands and Growth Prediction, Outlook 2018-2026 With Top Players ICU Medical, Inc. Smiths Group plc, Baxter International Inc., Fresenius Se & Co. KGaA, Johnson & Johnson

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.

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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.

Key players in the infusion pumps market are focusing on reducing error rates

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.

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Application-specific products an emerging strategy adopted by infusion pumps market players

Well managed and schematic approach towards integration of major players followed by various acquisitions in infusion pumps market is expected to fuel the product advancement and product introduction in the infusion pumps market. According to CareFusion Corporation, in 2013, around 61% of most costly and serious medication errors were related to intravenous infusions in the U.S., which was the major concern of the hospitals to make the system error free and effortless.

To address the same, CareFusion Corporation introduced a new system named Alaris System, having Guardrails Suite MX software and combines a single point-of-care unit. This is expected to minimize the infusion errors in the future. As statistics suggest, there were significant number of mergers and acquisition that have added to the development and advancement of new infusion pumps products.

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