NEW YORK, Dec. 2, 2015 /PRNewswire/ -- INTRODUCTION
Infusion pumps are a class of drug delivery devices that have found wide adoption across different application areas. Their popularity can be attributed to their reliable, user friendly features and ergonomic design. The market has a wide array of different types of infusion pumps (volumetric, syringe, implantable, elastomeric, ambulatory and others); combined, they offer a large range of infusion volume, flow rate, occlusion alarm pressure range and many other technical parameters that can be adjusted according to the patient's requirements and care areas.These pumps have strengthened their position in a variety of application areas including oncology, diabetes, pain management, enteral feeding and general infusion.
Several established firms as well as emerging players are currently competing in this market. Companies have regularly come up with technological advancements aimed at increasing the reliability and safety of these pumps. Examples of technological / design innovations include introduction of intuitive coloured touch screen, drug libraries, user friendly interface, compact design, improved accuracy, automated power saving mode and air-in-line detection.The introduction of "smart infusion pumps" has been an important step in the growth of infusion pumps market.
Despite the fact that the current market is significantly mature, a number of technological advancements from established and new players have sustained the growth momentum.Companies are continuously on the lookout for new avenues of growth in terms of novel features; this is expected to result in an even wider adoption going forward.
SCOPE OF THE REPORT
The "Infusion Pumps Market, 2015-2025" report provides a comprehensive study of the current state of infusion pumps market and the likely future evolution of these devices over the next decade. The study covers various types of infusion pumps that are used across several application areas. The current generation of these devices, being reliable and easy to use, have found wide acceptance in both homecare and hospital market.
In addition to providing a comprehensive market landscape, the report covers various other aspects such as market trends, recent partnerships and our opinion on the drivers that will likely influence the market in the short-term and long-term. We have also done an elaborate product competitiveness analysis across Oncology, Pain Management and Insulin Infusion pumps. This is supported by detailed profiles of leading devices, key features and how these features make a device different from others. Innovations in design and safety mechanisms will continue to present encouraging prospects to device manufacturers in the years ahead.
This study also highlights some of the challenges associated with the development and use of these devices in the market. Regular modifications in design and incorporation of safety features present operational challenges to the manufacturers. Cost is another factor that can restrain the market, especially in case of some of the novel devices. However, the increasing focus on smart infusion pumps and advancements in the software and safety features will help in resolving these issues.
The report also includes two special case studies. The first one is on accessories that are used with these pumps while the second case study focuses on ambulatory pumps that hold a significant portion of the homecare market.
In addition, we have analysed the existing market size and potential future growth of these drug delivery devices across different application areas and product categories. The forecast, over the next ten years, has been presented both in terms of volume (number of units) and value (USD billion). It takes into account the likely price variation that will occur as a result of continued adoption and increased competition.
The research, analysis and insights presented in this report are backed by a deep understanding of key insights gathered from both secondary and primary research. Actual figures have been sourced and analysed from publicly available information. Unless otherwise specified, all figures are presented in USD.
Most of the data presented in this report has been gathered via secondary research. For all our projects, we conduct interviews with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and technology segments. Where possible, the available data has been checked for accuracy from multiple sources of information.
The secondary sources of information include
- Annual reports
- Investor presentations
- SEC filings
- Industry databases
- News releases from company websites
- Government policy documents
- Industry analysts' views
While the focus has been on forecasting the market over the coming ten years, the report also provides our independent view on various technological and non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market gathered from various secondary and primary sources of information.
Chapter 2 provides an executive summary of the insights captured in our research. The summary offers a high level view on the likely evolution of infusion pumps market.
Chapter 3 provides a general overview of the infusion pumps covering the historical development and the types of pumps commercially available in different regions worldwide.
Chapter 4 provides a comprehensive analysis of the current market of infusion pumps. It lists over 300 devices that can be used to carry out infusion for a variety of application areas. For these devices, we have identified the volume range, flow rate, occlusion alarm pressure, KVO and other technical parameters. We have also highlighted the different applications for which these pumps are suitable to use across different clinical settings.
Chapter 5 focuses on infusion pumps that are used for general infusion purposes. We have provided detailed profiles of several well-known pumps in this area covering their respective technical specifications, features and advantages.
Chapter 6 focuses on infusion pumps that are used for pain management. We have provided detailed profiles of several well-known pumps in this area covering their respective technical specifications, features and advantages. In addition, we have compared the product competitiveness of 36 such infusion pumps being used for acute and/or chronic pain management. The product competitiveness was defined based on parameters such as weight, dimensions, accuracy and user friendliness of the pumps.
Chapter 7 focuses on infusion pumps that are used for oncology therapies. We have provided detailed profiles of several well-known pumps in this area covering their respective technical specifications, features and advantages. In addition, we have compared the product competitiveness of 26 such infusion pumps. The product competitiveness was defined based on parameters such as weight, dimensions, accuracy and user friendliness of the pumps.
Chapter 8 focuses on insulin infusion pumps. We have provided detailed profiles of several well-known pumps in this area covering their respective technical specifications, features and advantages. In addition, we have compared the product competitiveness of 10 such insulin infusion pumps. The product competitiveness was defined based on parameters such as weight, dimensions, accuracy and user friendliness of the pumps.
Chapter 9 provides two case studies. The first case study is on infusion pump accessories that are attached to the pumps to assist the delivery of drugs or therapeutic solutions. The second case study is on ambulatory pumps, which are easily portable and can be used for both hospital and homecare purposes. With time, the demand for these pumps is increasing as more and more patients are shifting towards homecare.
Chapter 10 provides a detailed market forecast analysis for different types (syringe, volumetric, ambulatory, elastomeric, disposable, implantable) of infusion pumps across different application areas (general infusion, insulin administration, pain management, oncology, enteral feeding). Despite the availability of several different types of pumps, companies have looked out for new avenues of growth in terms of novel features that have resulted in wider adoption. In this chapter, we have put together a ten year sales forecast (both in terms of value and volume) to highlight the likely growth of this market, which is expected to continue its growth trajectory due to several reasons cited in earlier chapters.
Chapter 11 includes detailed profiles of some of the major players in the infusion pumps market. For each company, we have covered details on geographical presence, financial performance, product portfolio, recent developments and partnerships.
Chapter 12 summarises the overall report. In this chapter, we provide a recap of the key takeaways and our independent opinion based on the research and analysis described in previous chapters.
Chapter 13 is an appendix, which provides tabulated data and numbers for all the figures provided in the report.
Chapter 14 is an appendix, which provides a list of companies and organisations mentioned in the report.
1. During the course of our study, we identified over 300 infusion pumps that are currently being manufactured and commercialised by more than 60 companies worldwide. 2. The fragmented marketis well distributed across different regions. Established companies such as (in alphabetical order) Baxter, B. Braun, Cane Medical Technology, Daiwha, Fresenius Kabi, GF Foures, Hospira, Medtronic, Micrel Medical Devices, Mindray, Smiths Medical, which have a wide portfolio of infusion pump devices, are staring at growing competition from several mid-sized players and upcoming start-ups.3. Examples of start-ups / smaller firms (in alphabetical order) include CareFusion, Cellnovo, CME Medical, Expanding Industry Limited, Flowonix, Summit Medical Products, Zyno Medical (complete list in Chapter 4). As has been observed in the case of other medical devices, the newer / smaller players will continue to foster more innovation and drive the market further.4. The increasing number of partnerships among several players clearly indicates the growth and changes being witnessed in the market. These collaborations range from product / software development, distribution arrangements and acquisitions.5. We expect the overall market to grow at an annualised growth rate of 3.8% during the period 2015-2025. Specific pockets of growth will come from wider adoption for oncology and pain management applications. In terms of product types, ambulatory infusion pumps are likely to witness a relatively higher growth.6. Advancements in device safety, software developments, accuracy rates and incorporation of additional user friendly features are likely to act as key enablers for future growth. The homecare market, specifically, is expected to grow its share in the future owing to the fact that it is cost effective and reduces the hospital expenses incurred by patients for various treatments.
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