Intravenous Infusion Pumps Market: Introduction
- Infusion pumps are medical devices utilized by physicians and patients to deliver medications, fluids, and nutrition into the patient’s body in a controlled manner. These pumps are installed with software that are programmed to deliver fixed doses of medication at required regular intervals of time.
- Currently, various forms of intravenous infusion pumps are available in the market that include insulin infusion pumps, enteral feeding infusion pumps, patient-controlled analgesia (PCA) infusion pumps, and syringe infusion pumps
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Key Drivers and Restraints of Global Intravenous Infusion Pumps Market
- Increase in Number of Chronic Pain, Cancer, and Diabetes Patients Drive Global Market
- Rise in prevalence of people suffering from chronic pain, cancer, and diabetes is a major driver of the intravenous infusion pumps market as these pumps are extensively used to administer drugs during treatment of these diseases
- According to the WHO report 2015, cancer is the second leading cause of death globally and was responsible for 8.8 million deaths in 2015
- Diabetes a major disease category which utilizes infusion systems for precise and effective drug delivery. According to the WHO data 2015, around 1.6 million deaths were directly caused by diabetes. It is projected that diabetes would be the seventh leading cause of death by 2030.
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Technological Advancements Leading to Products with Improved Features
- Over the last few years, technological development have been playing a key role in driving the infusion pumps market and is expected to propel the market in the near future. This has led manufacturers operating in this market to focus on developing innovative products to get a competitive edge over their competitors.
- In 2017, Smith Medical received FDA clearance on CADD-Solis ambulatory infusion pump with wireless communication. The new system helps increase hospital efficiency, reduce costs, and improve patient outcomes.
Insulin Infusion Pumps Segment to Dominate Global Market
- Based on type, the global intravenous infusion pumps market can be segmented into insulin infusion pumps, parenteral feeding infusion pumps, patient-controlled analgesia (PCA) infusion pumps, and syringe infusion pumps
- An insulin pump is a small infusion device which is worn outside the body. This pump can be discreetly slipped into a pocket, clipped to a belt, or hidden under the clothes. The pump delivers exact doses of insulin to diabetes patients with the requirement of either basal or bolus dose. Insulin infusion pumps are considered as prominent devices among other alternatives such as insulin injections, pens, and pills as these devices reduce the need for self-administration of multiple insulin jobs every day.
- The insulin infusion pumps segment is expected to dominate the global intravenous infusion pumps market between 2019 and 2027
- Based on end-user, the global intravenous infusion pumps market can be categorized into hospitals, ambulatory surgical centers, cancer treatment centers, specialty clinics, and others
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Emerging Economies to Offer Growth Opportunities
- In terms of region, the global intravenous infusion pumps market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominates the global infusion pumps market, owing to factors such as advancements in drug delivery systems and favorable reimbursements for different pumps under the Medicare Durable Medical Equipment (DME) scheme in the region
- Emerging countries of Asia Pacific, Latin America, and the Middle East present a large number of opportunities for the intravenous infusion pumps market due to high prevalence of various diseases. Moreover, rise in geriatric population suffering from pain disorders and large pool of diabetic patients in Asia Pacific are key factors driving the market in the region. According to the Journal of Diabetes Care – 2016, the Western Pacific, the world’s most populous region, has more than 138.2 million people with diabetes and the number is likely to increase to 201.8 million by 2035.
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Key Manufacturers Operating in Global Market
The global intravenous infusion pumps market was highly fragmented in 2018. Key players operating in the global intravenous infusion pumps market are:
- Hoffmann-La Roche Ltd.
- Fresenius SE & Co. KGaA
- Braun Holding GmbH & Co. KG
- Becton, Dickinson and Company
- Baxter International, Inc.
- Terumo Corporation
- Medtronic
- Smith Medical
- ICU MEDICAL, INC.
- Tandem Diabetes Care, Inc.
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