Global Intravenous Infusion Pumps Market By Type, By Application, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

The Global Intravenous Infusion Pump Market size is expected to reach $8. 2 billion by 2027, rising at a market growth of 8. 5% CAGR during the forecast period. An intravenous infusion pump refers to a medical device, which is utilized to inject medications and nutrients into a patient’s body.


New York, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Intravenous Infusion Pumps Market By Type, By Application, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06177768/?utm_source=GNW
These pumps are generally seen in a medical setup because they are majorly utilized in giving medications in pre-determined dosages to any patient. The growing geriatric population and the rising cases of chronic diseases across the globe are among the major driving factors of the intravenous infusion pump. Additionally, the high adoption of portable infusion pumps to decrease the expenses of the hospital is also anticipated to support the growth of the market. Though, patient safety risks & medication errors regarding infusion pumps are estimated to hamper the market growth. There are many companies that are increasingly investing in the advancement of infusion pump technology, which would open new growth opportunities for the intravenous infusion pumps market.

The increasing prevalence of patients with cancer, chronic pain, and diabetes is one of the major factors fueling the demand for intravenous infusion pumps. It is because these pumps are generally utilized to give pharmaceutical drugs during the treatment of such diseases. There is an increasing prevalence of chronic illnesses and disorders across the globe due to the increase in the aging population and shift in social behavior, which can result in the gradual rise of these widespread and costly long-term medical conditions. Additionally, infusion pumps are utilized to give measured doses of nutrients or drugs into a patient’s body, like pain relievers, chemotherapy medicines, insulin, antibiotics, or other hormones. According to the WHO, the prevalence of chronic diseases is estimated to rise by 57% by 2020. Thus, the growing prevalence of chronic diseases is anticipated to fuel the growth of the intravenous infusion pumps market.

COVID-19 Impact Analysis

The world has witnessed a lot of problems and disruptions due to the global covid-19 pandemic. Various restrictions like lockdown, travel ban, a temporary ban on manufacturing units, ban on public gathering, social distance, ban on import and export and many more have adversely impacted different sectors of the business. However, the healthcare sector has witnessed a surge in demand for various devices for providing better medical treatment to patients.

The global COVID-19 pandemic has resulted in the growing demand for intravenous infusion pumps and other related systems because most of the hospitalized patients, particularly those in ICUs, are given medications through intravenous infusion pumps owing to their capability to provide accurate doses automatically at fixed times. In cases, where patients require acute care, these intravenous infusion pumps help in providing a variety of medications like vasopressors, antithrombotic, opioids, insulin, neuromuscular blocking agents, anesthetic agents, and antiarrhythmic agents, some of them are needed for COVID-19 patients.

Market Growth Factors:

Growing prevalence of chronic diseases

With the growing urbanization and modernization, people have inculcated various changes in their food habits and living standards. The inclusion of various toxic food habits and lifestyles has resulted in the prevalence of several diseases. One of the key factors fueling the growth of the Intravenous infusion pumps market is the rising prevalence of various chronic diseases.

Increasing demand for ambulatory infusion pumps in-home care setup

Infusion pumps like implantable pumps, ambulatory chemotherapy pumps, and insulin pumps are very helpful in the treatment of various diseases like cancer and diabetes in the home care setup. Ambulatory infusion pumps are very handy or wearable. These infusion pumps help in delivering fluids like medicines, nutrients, and antibiotics in a patient’s body accurately in a controlled surrounding.

Market Restraining Factor:

Increasing cases of a product recall

Infusion pumps are utilized to deliver various crucial fluids like high-risk medications and nutrients into a patient’s body. Any kind of error in operating these systems can result in very serious harm to patients and can even result in the death of the patient. As per the Institute of Medicine (US), almost 1.5 million patients per year witness medication errors that cost USD 8,750 per Potential Adverse Drug Event (PADE). The recall rate of infusion pumps is the highest among all the medical devices.

Type Outlook

Based on Type, the market is segmented into Volumetric Infusion Pumps, Syringe Infusion Pumps and Patient Controlled Analgesia Infusion Pumps. The Volumetric Infusion Pumps market dominated the Global Intravenous Infusion Pump Market by Type in 2020. The emerging countries are witnessing improvements in socio-economic conditions, which is expected to boost the demand & growth of the volumetric infusion pump segment. The Syringe Infusion Pumps market is expected to witness a CAGR of 8.4% during (2021 - 2027).

Application Outlook

Based on Application, the market is segmented into Oncology, Parenteral Nutrition, Analgesia/Pain Management and Others. Based on the application, the oncology segment emerged as the leading segment of the market in 2020. The trend is likely to unfold even during the forecasting period. This is due to the increasing prevalence of cancer, as these pumps are broadly utilized to administer drugs in the treatment of these diseases.

End User Outlook

Based on End User, the market is segmented into Hospitals & Clinics, Home Healthcare and Others. Based on the end-user, the hospitals & clinics segment garnered the maximum revenue share of the market in 2020 and would maintain a similar kind of position during the forecast period. Factors such as the high availability of smart and ultra-modern intravenous infusion pumps in hospitals, the rapid rate of chronic diseases, and increasing healthcare spending are responsible for the growth of this segment.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific region is projected to showcase the highest growth rate during the forecast period. It is due to the rising burden of chronic diseases like cancer and diabetes, the high number of surgical procedures carried out, the growing adoption of advanced medical devices, and the regional presence of key global players. All these aspects are anticipated to open new growth prospects for the regional intravenous infusion pumps market during the forecast period.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson & Johnson, B. Braun Melsungen AG, Medtronic PLC, F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, Baxter International, Inc., Terumo Corporation, Smiths Group PLC, Boston Scientific Corporation, and Micrel Medical Devices SA.

Strategies Deployed in Intravenous Infusion Pumps Market:

Jun-2021: Micrel Medical came into a distribution agreement with Baxter International. This agreement aimed to distribute the Micrel Mini Rythmic PN+ infusion pump for Parenteral Nutrition (PN), this PN therapy is the intravenous administration of nutrients. There are more than 300 patients in Australia and New Zealand who get parenteral nutrition at home.

May-2021: Smiths Medical came into partnership with Ivenix, a medical technology company. This partnership includes a strategic investment from Smiths Medical, which integrates both innovators for a common objective of revolutionizing infusion management to enhance patient safety and fulfill the requirements of healthcare providers presently and into the future.

Oct-2019: B. Braun Melsungen teamed up with STANLEY Healthcare. Under this collaboration, the companies aimed to integrate Healthcare Enterprise (IHE) standards, and the integrated solution that includes a bi-directional interface offering developed to assist in enhancing patient safety, maximize asset utilization, and boost staff efficiency. In addition, B.Braun’s DoseTrac Infusion Management Software interacts with STANLEY Healthcare’s MobileView software platform to deliver real-time pump status data.

Sep-2019: Baxter International signed an agreement to acquire Cheetah Medical, developer of noninvasive hemodynamic monitoring technology. This acquisition of Cheetah Medical would expand Baxter’s presence in the dedicated patient monitoring space with main technology utilized to direct fluid management, which is an important factor of patient care.

Apr-2020: B. Braun Medical received Emergency Use Authorization (EUA) by the US Food and Drug Administration (FDA) for its products. These products include Infusomat Space Volumetric Infusion Pump, Perfusor Space Syringe Infusion Pump, and Outlook ES Pump systems for utilization in the tracheal delivery of ongoing nebulized medications into a nebulizer to cure patients of different ages with or suspected of getting the Coronavirus Disease 2019.

Aug-2018: Baxter International received the CE marking of the Evo IQ Infusion System. This system has been marketed in Ireland, the United Kingdom, and New Zealand, along with that, the Evo IQ Infusion System has also received regulatory approval from the Therapeutic Goods Administration (TGA) in Australia. This System features a scalable platform as well as user-centric design, which consists of improved drug library and dose error reduction software to support patient safety and intuitive clinical workflows.

May-2018: Baxter International received the clearance of the Spectrum IQ Infusion System with Dose IQ Safety Software from the U.S. Food and Drug Administration (FDA). This Spectrum IQ system is one of the firstly developed systems particularly for bi-directional electronic medical records (EMR) integration with the latest extensive features to help in ensuring that the right medications and fluids are given to the patient.

Scope of the Study

Market Segments covered in the Report:

By Type

• Volumetric Infusion Pumps

• Syringe Infusion Pumps

• Patient Controlled Analgesia Infusion Pumps

By Application

• Oncology

• Parenteral Nutrition

• Analgesia/Pain Management

• Others

By End User

• Hospitals & Clinics

• Home Healthcare

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Johnson & Johnson

• B. Braun Melsungen AG

• Medtronic PLC

• F. Hoffmann-La Roche Ltd.

• Becton, Dickinson and Company

• Baxter International, Inc.

• Terumo Corporation

• Smiths Group PLC

• Boston Scientific Corporation

• Micrel Medical Devices SA

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06177768/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

 

Contact Data