Global Infusion Pump Software Market Forecasts, 2019-2024: Rising Demand for Ambulatory and Home Care Infusion Pumps
DUBLIN, April 15, 2019 /PRNewswire/ -- The "Infusion Pump Software Market by Type (DERS, Interoperability, Clinical Workflow), Indication (General Infusion, Pain & Anesthesia Management, Insulin Infusion), End User (Hospitals, Ambulatory Care Settings) - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The global infusion pump software market is projected to reach 1,044 million by 2024 from USD 742 million in 2019 at a CAGR of 7.1%.
Growth in the infusion pump software market can be attributed to factors such as increasing incidence of chronic diseases, along with rapid growth in the geriatric population, growing number of surgical procedures performed, rising demand for ambulatory and home care infusion pumps, and technological developments. However, frequent product recalls of infusion pumps may restrain the market to a certain extent.
"The DERS segment is expected to hold the largest market share during the forecast period."
On the basis of type, the global infusion pump software market has been segmented into Dose error reduction software (DERS), clinical workflow software, interoperability software and other software. The DERS segment is expected to hold the largest market share during the forecast period. DERS is offered as a part of the drug library incorporated in the infusion pump. This software aids in preventing incorrect dosage of medicine by alerting the clinician via alarm. Subsequently, increasing number of reported medication errors using infusion pumps is a major factor boosting this market growth.
"The insulin infusion segment is expected to grow at the highest rate during the forecast period."
On the basis of indication, the infusion pump software market is segmented into general infusion, pain & anesthesia management, insulin infusion, chemotherapy, enteral infusion, and others. The general infusion segment is expected to take the largest share of this market. The high growth of this segment can be attributed to factors such as the ease and safety offered by infusion pumps software for delivery of medication.
"The Home care settings segment is expected to grow at the highest rate during the forecast period."
On the basis of end user, the infusion pump software market is segmented into hospitals, ambulatory care settings, home care settings, and academic & research institutes. The home care settings segment is expected to grow at the highest rate during the forecast period. The high growth of this segment can be attributed to factors such as increasing preference for treatment at one's convenience and the advantage of home infusion being highly cost effective.
"The Asia Pacific infusion pump software market is expected to grow at the highest rate during the forecast period."
Geographically, the infusion pump software market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The Asia Pacific market is expected to grow at the highest rate during the forecast period. The high growth in this region can be attributed to the a large population pool, increasing aging population, growing incidences of chronic diseases, increased awareness and accessibility of advanced healthcare facilities, and rising healthcare spending.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Increasing Incidence of Chronic Diseases and Rapid Growth in Geriatric Population
5.2.1.2 Growing Number of Surgical Procedures Performed
5.2.1.3 Rising Demand for Ambulatory and Home Care Infusion Pumps
5.2.1.4 Technological Developments
5.2.2 Market Restraints
5.2.2.1 Frequent Product Recalls of Infusion Pumps
5.2.3 Market Opportunities
5.2.3.1 Untapped Emerging Markets
5.2.3.2 Growing Adoption of Specialty Infusion Systems
5.2.4 Challenges
5.2.4.1 Increasing Incidence of Medication Errors and Lack of Wireless Connectivity in Most Hospitals
6 Infusion Pump Software Market, By Type
6.1 Introduction
6.2 Dose Error Reduction Software (DERS)
6.2.1 Increasing Incidence of Medication Errors is Driving the Demand for DERS in Infusion Pumps
6.3 Clinical Workflow Software
6.3.1 Clinical Workflow Software Enables Automation of the Entire Process of A Patient's Assessment and Treatment
6.4 Interoperability Software
6.4.1 Interoperability Software Helps in Reducing Manual Programming Errors
6.5 Others
7 Infusion Pump Software Market, By Indication
7.1 Introduction
7.2 General Infusion
7.2.1 Availability of Safer and Efficient Infusion Pumps to Propel the Market for General Infusion
7.3 Pain & Anesthesia Management
7.3.1 High Incidence of Chronic Pain Will Drive the Market for Pain Management
7.4 Insulin Infusion
7.4.1 Significant Increase in the Global Prevalence of Diabetes Will Drive Market Growth
7.5 Chemotherapy
7.5.1 Demand for Controlled and Targeted Delivery of Medication to Drive the Chemotherapy Market
7.6 Enteral Infusion
7.6.1 Infusion Pumps Facilitate Continuous and Controlled Parenteral Flow
7.7 Other Indications
8 Infusion Pump Software Market, By End User
8.1 Introduction
8.2 Hospitals
8.2.1 Hospitals Dominate the Infusion Pump Software Market, By End User
8.3 Ambulatory Care Settings
8.3.1 Need to Reduce Healthcare Expenditure has Boosted the Preference for Ambulatory Care
8.4 Home Care Settings
8.4.1 Rising Acceptance and Cost-Efficiency of Home Care Products Have Driven their Use
8.5 Academic & Research Institutes
8.5.1 Rising Drug Discovery Activity and Incidence of Medication Errors is Driving Market Growth
9 Infusion Pump Software Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US is the Largest Market for Infusion Pump Software
9.2.2 Canada
9.2.2.1 Favorable Reimbursement Scenario for Infusion Pumps to Propel the Market in Canada
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany is the Fastest-Growing Market for Infusion Pump Software in Europe
9.3.2 France
9.3.2.1 The Healthcare System in France is Among the Best in the World
9.3.3 UK
9.3.3.1 High Number of Medication Errors in the UK to Drive Market Growth
9.3.4 RoE
9.4 APAC
9.4.1 China
9.4.1.1 Growing Investments in Healthcare Infrastructure to Support Market Growth
9.4.2 Japan
9.4.2.1 Rapid Growth in the Geriatric Population and the Rising Prevalence of Age-Related Illnesses to Drive Market Growth
9.4.3 India
9.4.3.1 High Prevalence of Lifestyle Diseases to Drive the Market for Infusion Pump Software
9.4.4 RoAPAC
9.5 Rest of the World
10 Competitive Landscape
10.1 Overview
10.1.1 Market Ranking of Players, 2018
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Competitive Scenario
10.3.1 Product Launches
10.3.2 Expansions
10.3.3 Partnerships, Agreements, and Collaborations
10.3.4 Acquisitions
11 Company Profiles
11.1 Becton, Dickinson and Company (BD)
11.2 B. Braun Melsungen AG (B. Braun)
11.3 Baxter International Inc. (Baxter)
11.4 Fresenius Kabi
11.5 ICU Medical, Inc. (ICU Medical)
11.6 Medtronic Plc (Medtronic)
11.7 Moog Inc. (Moog)
11.8 Smiths Medical (A Division of Smiths Group Plc)
11.9 Terumo Corporation
11.10 Roche Diagnostics (A Division of F. Hoffmann- La Roche Ltd.)
11.11 Ypsomed AG (Ypsomed)
11.12 Micrel Medical Devices
For more information about this report visit https://www.researchandmarkets.com/r/ge8bnv
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