Infusion pumps stand pertinent to medical facilities, nursing homes, and healthcare centers. This equipment aid bed-ridden patients in consuming food and drugs via integrated tubing systems.
This medical instrument has multiple advantages and assists hospital staff in delivering smooth patient care facilities.
Lately, the market for infusion pumps has witnessed substantial propulsion. This article substantiates the key drivers responsible for their global thriving market in 2020.
Keep reading to know more.
The market for Infusion Pumps in 2020
The global market for infusion pumps is continuously rising. Growing at a rate of 6.8%, it is expected to attain a value of 572.6 million dollars by 2024 and 16.9 billion dollars by 2026.
The primary factor owes to the COVID-19 medical emergency which has furnished it a potential boost.
In fact, with a hike in the number of infections, most of the hospitals face a shortage of infusion pumps. This has made the government engineer more such devices and regulates their timely supply to medical facilities.
Key Drivers to Accelerate the Demand for Infusion Pumps
Here is an outline of the prominent facets which anticipate amplifying the present and the future market for infusion pumps:
Rapid growth in cancer and diabetes cases
Massive growth in the geriatric population
Hiking volume of surgical procedures across the world
Application of Infusion Pumps in the Medical Sector
Infusion pumps find an extensive application in the diagnosis and the treatment of the following ailments:
Analgesia (Pain Management)
Pediatrics and Neonatology
Categories of Infusion Pumping Devices
Some of the widely used categories of infusion pumps are mentioned hereby:
Implantable Infusion Pumps
Volumetric Infusion Pumps
Enteral Infusion Pumps
Insulin Infusion Pumps
Ambulatory Infusion Pumps
Implantable Infusion Pumps
Disposable Infusion Pumps
Chemotherapy Infusion Pumps
Traditional Infusion Pumps
Specialty Infusion Pumps
Largest Share in Infusion Pumps Market
North America has the highest share in the global market of infusion pumps. This is mainly because of the high volume of chronic disease patients admitted to their medical care units.
Next, as per research studies, U.S features as the nucleus of technological advancement and innovation. This renders it a popular choice of investment and returns over infusion pumping devices.
Other broad regions with decent marker shares include Asia-Pacific, Europe, Africa, and Middle-East and Latin America.
Key Market Players
The growing market for infusion pumps recognizes the key players investing in this dynamic market. It includes:
Becton, Dickinson, and Company (USA)
B. Braun Melsungen AG (USA)
Baxter International Inc. (USA)
Fresenius Kabi (Germany)
ICU Medical Inc. (USA)
Medtronic Plc (Ireland)
Moog Inc. (USA)
Smiths Medical (USA)
Terumo Corporation (Japan)
NIPRO Corporation (Japan)
Avanos Medical Inc. (USA)
Tandem Diabetes Care Inc. (USA)
JMS Co. Ltd. (Japan)
Insulet Corporation (USA)
Roche Diagnostics (Switzerland)
Zyno Medical (USA)
Teleflex Inc. (USA)
Mindray Medical International Ltd. (China)
Micrel Medical Services SA (Greece)
Ypsomed Holding AG (Switzerland)
Recent Developments in the Infusion Pumps Market
The market for infusion pumps has been trending and flying high pertaining to its developmental dynamics. Some of the recent developments in the infusion pumps industry are as follows:
April 2019 witnessed a grand partnership between HCA capital Division (USA) and Smiths Medical (USA). Both the companies joined hands to integrate their 4000 infusion pumping equipment with HCA’s electronic medical records. This initiative looks forward to curtailing the chances of medical errors in these devices when treating the patients.
Baxter International (USA) was issued with regulatory approvals for its EVO IQ Infusion system in Australia, New Zealand, Ireland, and the UK in August 2019.
In October 2019, B. Braun Medical Inc. (USA) collaborated with STANLEY Healthcare (USA) to deploy B. Braun’s Space Infusion Pump Systems with DoseTrac Infusion Management Software and STANLEY Healthcare’s MobileView software, Aeroscout RTLS MobileView, at Saratoga Hospital, in New York City, US. This collaboration shall assist to facilitate real-time pump status data.
In January 2020, Medtronic (Ireland) Launched Efficio networked with the SynchroMed II intrathecal drug delivery system. This enables medical practitioners to efficiently manage their drug delivery pump practices. It also aids them in treating patients with cancer, chronic pain, and severe spasticity.
Infusion Pump Brands
Integrated with an in-built thermostat, Amigo AMS 737 features a highly accurate infusion pump (adjustable up t0 30- 45 degrees).
All patients, including adults, senior citizens, neonatal, and pediatrics can benefit from its type IV tubing.
It is enabled with an anti-free flow function to facilitate a smooth and seamless infusion process.
Key digital display exhibits 9 alarms, which will ring in case of a medical emergency.
Other real-time displays include KVO rate, bolus volume, infused volume, or bolus rate.
The equipment furnishes the medical staff with the technical option to change the flow rate without stopping the pump.
Trivitron is a well-known brand in the world of infusion pumping equipment.
It is suitable for adults, neonatal, and pediatrics especially admitted in ICU, CCU, or OR.
These pumping devices engender an accurate flow rate and aids patients in distress.
The system is compatible with multi-standard IV sets.
Enabled with an ultrasonic detector, the pump also offers features such as wireless management of tubing systems.
Easy to use and safe devices with an anti-free flow function.
Medical practitioners can transform their rate of flow without stopping the power supply.
These are reliable and precise pumping systems ensuring accuracy of fluid flow rate.
Comprising an electric door, sturdy pressure sensors, and an electric anti-free flow clip.
The device can store up to 500 longs.
Altogether, the market for infusion pumps is already thriving and shall continue to progress in the forecast period. In other words, it is a highly profit-driven market for investors to take part in.
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