Programmable Infusion Pumps and Catheters Market Expected to Expand at a Steady 2021-2028 | ICU Medical, Inc., Smiths Group plc., Baxter International Inc

The global programmable infusion pumps and catheters market by Product Type (Patient Controlled Analgesia Pumps, Enteral Pumps, Volumetric Pumps, Implantable Pumps, Syringe Pumps, Pump Accessories and Insulin Pumps), by Modality (Stationary and Portable), by Application (Pediatrics/Neonatology, Diabetes, Gastroenterology, Oncology, Hematology, Pain), by Channel Type (Multi-Channel and Single Channel), by End User (Ambulatory Clinics, Clinics, Hospitals, Homecare, and Others), and by Region (Latin America, Europe, Asia Pacific, North America, Africa, and Middle East). According to a new analysis, the market was worth US$ 8,365.3 million in 2017 and is expected to grow at a CAGR of 5.8% over the forecast period (2018–2026).

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The global programmable infusion pumps and catheters market is predicted to develop due to new product introductions and therapeutic advantages offered by programmable infusion pumps over manual counterparts, such as dose monitoring. Furthermore, prominent market players are focusing on releasing new products in order to increase their market share. For example, in 2018, Baxter International Inc., a firm that specializes in revolutionary pharmaceutical delivery technology, got FDA approval for their Spectrum IQ Infusion System with Dose IQ Safety Software (FDA). The Spectrum IQ system was created with bi-directional electronic medical records (EMR) integration in mind, as well as features that help with optimal dosing of medications to the patient.

The global programmable infusion pumps and catheters market is likely to grow as a result of strategic mergers and acquisitions by prominent competitors. For example, in April 2017, the global medical technology corporation BD (Becton, Dickinson and Company) finalized the acquisition of Caesarea Medical Electronics (CME), a global maker of infusion pump systems. The company's home care, specialty applications, and ambulatory infusion portfolios were all expanded as a result of this merger.

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Key Takeaways:

The global market for programmable infusion pumps and catheters is predicted to grow at an annual rate of 8%. This is due to an increase in important players' research and development activity, as well as product releases.

Manufacturers are concentrating their efforts on strategic mergers and acquisitions, as well as acquiring financing for product approval and commercialization.

Because of product launches and strong research & development activities by key players in the region, North America is likely to dominate the global programmable infusion pumps and catheters market over the forecast period.

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