According To New Research Report Of Global Infusion Pump system, Accessories and Software Market is expected to reach USD 14.31 billion by 2024 from USD 9.12 billion in 2016, at a CAGR of 5.8% in the forecast period 2017 to 2024.
Short Segmentation:
By Type {Infusion Pump Systems (Volumetric IP, Syringe IP, Ambulatory IP, Enteral IP, Insulin IP, Implantable IP, Chemotherapy IP, Anesthesia IP), Infusion Pump Accessories (Infusion Administration Sets, IV Sets, Needleless Connectors), Infusion Pump Management Software (Asset Management Modules, EMR Modules, Respiratory Monitoring Modules)}, By Application (General Infusion, Pain and Anesthesia Management, Insulin Infusion, Enteral Infusion, Chemotherapy), By End-User (Hospitals, Ambulatory, Home Healthcare, Clinics), By Geography (North America, Europe, APAC, South America, Middle East and Africa)
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Key Drivers:
Some of the major factors driving the market for infusion pump system, accessories and software market are increasing demand for ambulatory infusion pumps, rising incidence of chronic diseases, increasing pool of aging population, increasing number of surgical disorders impacting the growth of surgical procedures, and technological development.
- Regulatory frameworks, product recalls are the factors which may hinder the growth of this market.
- Many companies are increasingly focusing on smarter infusion pump devices in order to strengthen their product portfolios in the infusion pump system, accessories and software market.
- Government initiatives to reduce healthcare costs, emerging markets, development of drugs in major medical fields will drive the market in future.
Major Drivers:
Some of the major factors driving the market for infusion pump system, accessories and software market are increasing demand for ambulatory infusion pumps, rising incidence of chronic diseases, increasing pool of aging population, increasing number of surgical disorders impacting the growth of surgical procedures, and technological development.
INCREASING DEMAND FOR AMBULATORY INFUSION PUMPS
Ambulatory infusion pumps were used for many laboratory animal researchers as it allows drug delivery in ambulatory animals which was not possible before. Ambulatory infusion pumps evolved into multiple therapy pumps that is programmed for various different types of infusions limiting their use in the laboratory animal market. The arrival of ambulatory infusion pumps with software communications gave the ability to get data more efficiently, to get the pump’s history and it also helps in trouble shooting the problems with the infusion pumps.
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RISING INCIDENCE OF CHRONIC DISEASES
In recent years, the prevalence of chronic diseases (such as cancer, diabetes, hormonal disorder, and many others) across the globe has increased considerably over a period of time. The rapidly increasing aging population and the subsequent rise in chronic conditions are major factors driving the demand for infusion pump system, accessories and software.
INCREASING POOL OF AGING POPULATION
The growing geriatric population across the world is leading to the increase in the prevalence of chronic diseases such as arthritis, cancer, respiratory diseases, metabolic disorders, orthopaedic, cardiovascular, and other age-related diseases. The growing population as well as the pressure on the healthcare system is increasing the demand of care, services, and technologies are rising to prevent and treat chronic diseases at old age.
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INCREASING NUMBER OF SURGICAL DISORDERS IMPACTING THE GROWTH OF SURGICAL PROCEDURES
The study, from doctors at Johns Hopkins, suggests that medical errors kill more people than lower respiratory diseases like emphysema and bronchitis do. The medical mistakes are the third leading cause of death in the United States after heart disease and cancer. The analysis estimates that at least 251,454 deaths due to medical errors occur annually in the United States.
TECHNOLOGICAL ADVANCEMENTS
The infusion pump system, accessories and software technology market is expected to show significant growth in the coming years, due to various technological advancements and new product launches in order to improve the convenience and ease of administration.
Major Players:
- Baxter,
- Becton,
- Dickinson and Company (BD),
- B. Braun Melsungen AG,
- Fresenius SE & Co. KGaA,
- Hospira,
- Animas Corporation,
- Medtronic,
- Moog Inc.,
- Smiths Group Plc.,
- F. Hoffmann-La Roche Ltd,
- Terumo Europe NV,
- Canè S.p.A,
- Caesarea Medical Electronics,
- Halyard Health, Inc.,
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.,
- ZynoMed.com, ZOLL Medical Corporation.,
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