Infusion Pumps Market: Industrial Trends and Drivers will boost NextGen Technology Advancement and Application 2019
Infusions are carried out to deliver therapeutic drugs and fluids into body via various routes such as intravenous, arterial, peritoneal, enteral, intrathecal and subcutaneous. Infusion pumps are the medical devices used for this purpose and allow infusions to be carried out at precisely controlled rate and a calculated dose. The global infusion pumps market was valued at USD 5,411.5 million in 2012, and is expected to grow at a CAGR of 5.3% to reach an estimated value of USD 7,768.2 million by 2019. The global infusion systems market has witnessed significant growth in the past due to market drivers such as worldwide increase in the number of patients with chronic pain, diabetes and cancer, increasing adoption of ‘smart’ pumps, and the increasing elderly population in most parts of the world.
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The global infusion pumps market is moving towards ‘smart’ pumps that have capacity to avoid dosing related errors, wireless connectivity with hospitals, pharmacy and with electronic medical records. However, the increasing number of medical device alerts for infusion pumps from FDA and other regulatory agencies in the world has negatively impacted the growth of this market.
In 2012, the infusion pumps market was dominated by large volume infusion pumps contributing to 36.9% of the total market revenue, followed by disposable infusion pumps. The large volume infusion pumps market is expected to maintain its top position during the forecast period 2013 to 2019 due to a number of benefits offered by this product type such as many application areas, higher accuracy in infusions, wider infusion time range, dose calculation software and the recent trend of wireless integration of infusion data for electronic medical records. On the basis of application areas, the largest market for infusion pumps in 2012 was clinical nutrition. The rising proportion of hospitalized patients becoming malnourished due to deprived starvation of food and large malnourished population in impoverished countries of Asia-Pacific and Africa were driving factors for this segment. Chemotherapy treatments and analgesia form the next largest application areas for the infusion pumps market.
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The global infusion pumps market is also segmented by geography into four major regions, namely, North America, Europe, Asia-Pacific and rest of the world. In 2012, North America was the largest market for infusion pumps amongst all geographies but is expected to grow at a CAGR 4.9% during the forecast period 2013 to 2019, comparatively slower than the rate at which the total infusion pumps market will grow. Asia-Pacific market is expected to grow at faster pace than North America and Europe owing to large patient base, increasing incidences of diabetes and cancer, and rising per capita expenditure on healthcare. The improving economies in the Asia-Pacific region, particularly China and India, are allowing increased investment in improving the healthcare infrastructure and eventually help in growth of the infusion pumps market.
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The global infusion pumps market is dominated by few major players such as CareFusion Corporation, Hospira, Inc., Baxter International, Inc., Fresenius Kabi AG, B. Braun Melsungen AG, and Terumo Corporation. Approximately half of the total revenue of the global infusion pumps market is shared by the top three companies in the market, while the rest of the market is occupied by several small players. Several product recalls by prominent players as well as small companies in the market have deterred market growth to some extent.
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