Major players in the ambulatory IV infusion pumps market are Baxter International, B. Braun Holding GmbH & Co. KG, Becton, Dickinson and Company, Smith Medical, Terumo Corporation, Fresenius Kabi, Medtronic, ICU MEDICAL, INC.
New York, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ambulatory IV infusion Pumps Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151617/?utm_source=GNW
, IRadimed Corporation, and Mindray.
The global ambulatory iv infusion pumps market is expected to decline from $0.04 billion in 2020 to $0.04 billion in 2021 at a compound annual growth rate (CAGR) of -2.1%. The slow decline in the market is mainly due to the companies decreasing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $0.06 billion in 2025 at a CAGR of 6%.
The ambulatory IV infusion pumps market consists of sales of ambulatory IV infusion pumps and related services by entities (organizations, sole traders and partnerships) that manufacture ambulatory IV infusion pumps.Ambulatory IV infusion pumps are portable medical devices used for controlled delivery of medication into the patient’s body.
Only goods and services traded between entities or sold to end consumers are included.
The ambulatory IV infusion pumps market covered in this report is segmented by type into disposable infusion pumps, chemotherapy infusion pump,; end-user into hospitals, home healthcare, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost of intravenous infusion pumps is a key factor for hampering the growth of the ambulatory IV infusion pumps market.The cost of medication therapies will be more than double when the intravenous infusion pumps in hospitals and pharmacies are networked, as they are preprogrammed with set limits to avoid intoxication or overdoses.
For example, the cost of the syringe pump ranges from $2,380 to $5,982.Also, the pump-hardware support contracts vary between $150 to $250 per pump.
The high cost of intravenous infusion pumps, which increases the cost of drug therapies, is therefore expected to hamper the growth of ambulatory IV infusion pumps market.
In September 2019, Baxter International Inc., a global medical products company, acquired Cheetah Medical for $190 million. This deal is expected to expand Baxter’s product portfolio and strengthen the company’s clinical outcomes with patient monitoring technology. Cheetah Medical is a US-based device company offering non-invasive cardiac output and hemodynamic monitoring devices including infusion pumps.
The rise in the prevalence of people with chronic pain, cancer, and diabetes is a significant factor for the ambulatory IV infusion pumps market, as these pumps are commonly used to deliver pharmaceutical drugs during the treatment of these diseases.Chronic illnesses and disorders are on the rise around the world.
An aging population and shifts in social behavior lead to a gradual increase in these widespread and expensive long-term medical issues.An ambulatory IV infusion pump is a medical device that transfers regulated doses of nutrients or drugs into a patient’s body, such as chemotherapy medicines, pain relievers, antibiotics, insulin, or other hormones, at home.
The prevalence of chronic diseases is expected to increase by 57% by 2020, according to the World Health Organization. Therefore, the rise in the prevalence of chronic diseases is expected to drive the growth of the ambulatory IV infusion pumps market.
Companies in the ambulatory IV infusion pump market are increasingly focusing on developing smart infusion pumps.The use of wireless technology in the health monitoring devices is increasing, which enhances the ease of usage, connectivity and data analysis.
The integration of wireless technology allows the transfer of data from the device to a smartphone or a wireless device through Bluetooth or cellular connection for data processing and then to display the results, which can be used for further study and to check the health condition of the individual.Software platforms are being developed that allow patient monitoring and reduce human error.
In June 2019, Ivenix, a US-based medical device company, received clearance for a new smart infusion pump that reduces human and software error with more streamlined technology.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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