Major players in the intravenous infusion pumps market are B. Braun Melsungen AG, Baxter International, Medtronic, Fresenius Kabi, Smiths Medical Inc. , Becton Dickinson and Company, Terumo Corporation, F.
New York, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Intravenous Infusion Pumps Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151615/?utm_source=GNW
Hoffmann-La Roche Ltd., ICU Medical Inc., and IRadimed Corporation.
The global intravenous infusion pumps market is expected to decline from $2.26 billion in 2020 to $2.11 billion in 2021 at a compound annual growth rate (CAGR) of -6.8%. The decline in the market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $2.62 billion in 2025 at a CAGR of 6%.
The intravenous infusion pumps market consists of sales of intravenous infusion pumps and related services by entities (organizations, sole traders and partnerships) that manufacture intravenous infusion pumps. An intravenous infusion pump is a medical device that provides regulated quantities of fluids, such as nutrients and medicines, into the body of the patient.
The intravenous infusion pumps market covered in this report is segmented by product into volumetric, syringe, enteral, ambulatory, IV disposables, others. It is also segmented by end-user into hospitals, ambulatory surgical centers, cancer treatment centers, specialty clinics, others,; application into chemotherapy, diabetes, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, 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 hampering the growth of the intravenous infusion pumps market.The cost of medication therapies is expected to 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.Besides, the pump-hardware support contracts vary between $150 to $250 per pump.
Therefore, the high cost of intravenous infusion pumps, which increase the cost of drug therapies, is expected to hinder the market growth for intravenous infusion pumps.
In September 2019, Baxter International Inc., a leading global medical products company, acquired Cheetah Medical for $190 million. The deal shows Baxter’s commitment to improving clinical outcomes with a patient monitoring technology to inform and guide clinicians’ treatment decisions. Cheetah Medical is a US-based device company offering non-invasive cardiac output and hemodynamic monitoring devices.
The rise in the prevalence of people with chronic pain, cancer and diabetes is a significant driver of the demand for intravenous infusion pumps, 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, which can be attributed to an aging population and shifts in social behaviour that leads to a gradual increase of these widespread and expensive long-term medical issues.
Infusion pumps are used to transfer regulated doses of nutrients or drugs into a patient’s body, such as chemotherapy medicines, pain relievers, antibiotics, insulin or other hormones.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 intravenous infusion pumps market.
The growing technological improvement is a major trend gaining popularity in the intravenous infusion pumps market.Technological advances in infusion pumps have changed medical care in hospitals and allowed patients to inject fluids on an outpatient basis or in a home setting, allowing them to seek treatment while living their daily lives, through the use of smart intravenous infusion pumps.
These smart intravenous infusion pumps help prevent medication errors and reduce patient harm.Some of the major companies investing in smart intravenous pumps include Fresenius Kabi, Q-Core Medical, Becton Dickinson, Micrel Medical Devices and Baxter International.
In another instance, in January 2018, vTitan, a Chennai-based healthcare company, announced the launch of the next generation of Syringe Infusion Pumps, which are used for critical care in hospitals and homes for reliable and safe infusion of drugs.
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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