Infusion Pump Market Worth 10.2 Billion USD by 2020
PUNE, India, January 11, 2016 /PRNewswire/ --
According to a new market research report "Infusion Pump Market - by Product (Volumetric, Syringe, Feeding, Insulin, PCA Pump), by Application (Chemotherapy, Gastroenterology, Diabetes, Pain Management), by End User (Hospital, Home Care, Ambulatory Surgery Centers) - Global Forecast to 2020", published by MarketsandMarkets, The global market is expected to reach USD 10.2 Billion by 2020 at a CAGR of 5.8% during the forecast period.
Browse 240 market data Tables and 46 Figures spread through 267 Pages and in-depth TOC on "Infusion Pump Market"
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This report studies the Infusion Pumps and Accessories market over the forecast period of 2015 to 2020.
Growth in this market is mainly attributed to the increasing prevalence of chronic diseases owing to the rising geriatric population; increasing use of infusion products in home care with favorable reimbursement coverage; and technological improvements in infusion products. However, the stringent product approval process and occurrence of several cases of medication errors associated with infusion pumps (and related product recalls in the recent past) may restrain the growth of the Infusion Pumps and Accessories market during the forecast period. Product innovations focusing on improving the safety features of infusion pumps are at the center of the R&D efforts of leading players in this market.
In this report, the Infusion Pumps and Accessories market is segmented by product, application, and end user. Among infusion pumps & accessories, infusion pump accessories (comprising dedicated and non-dedicated disposables) accounted for the largest share of 68.0% of the market in 2014. This segment includes dedicated disposables for volumetric, syringe, insulin, enteral, ambulatory, patient-controlled analgesia, and implantable infusion pumps. This segment accounted for the largest share-88.1%-of the infusion pump accessories market in 2014.
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The infusion pumps segment comprises volumetric infusion pumps, syringe infusion pumps, insulin infusion pumps, enteral infusion pumps, ambulatory infusion pumps, patient-controlled analgesia infusion pumps, and implantable infusion pumps. Volumetric infusion pumps accounted for the largest share of the global infusion pumps market in 2014. Growth in this market is mainly driven by the increasing demand for volumetric infusion pumps in hospitals, long-term acute care centers, clinics, and ambulatory surgery centers.
On the basis of application, the Infusion Pumps and Accessories market is segmented into chemotherapy, gastroenterology, diabetes, pediatrics, pain management, hematology, and other applications. The chemotherapy/oncology segment accounted for the largest share-34.7%-of the global Infusion Pumps and Accessories market in 2014. This is attributed to the high prevalence of cancer across the globe and need of infusion pumps in the delivery of chemotherapy to such patients. Diabetes and pain management applications offer significant growth opportunities in the infusion pumps market.
The Infusion Pumps and Accessories market, by end user, is segmented into hospitals, home care, ambulatory surgery centers, and others. The hospitals segment accounted for the largest share-54.9%-of the global Infusion Pumps and Accessories market in 2014. This can be largely attributed to the financial capabilities of hospitals to purchase high-priced infusion devices as well as the availability of trained professionals to operate infusion devices.
North America represented the largest regional market in 2014, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asian countries (particularly China and India) and Latin American countries (particularly Brazil) are expected to offer significant growth opportunities for market players in the forecast period. The high growth in emerging countries is majorly attributed to the increasing prevalence of chronic diseases; growing utilization of ambulatory pumps such as disposable and chemotherapy pumps in the management of chronic diseases; improving healthcare infrastructure; and increasing disposable income of the middle-class population in several Asia-Pacific and Latin American countries.
The major players in the Infusion Pumps and Accessories market are CareFusion Corporation (U.S.), Baxter International, Inc. (U.S.), Hospira, Inc. (U.S.), B. Braun Melsungen AG (Germany), Fresenius SE & CO. KGaA (Germany), Medtronic, Inc. (U.S.), Smiths Medical (U.S.), Terumo Corporation (Japan), Moog, Inc. (U.S.), Roche Holdings Ltd. (Switzerland), and Johnson & Johnson (U.S.). Other players include Pfizer Inc. (U.S.), Novartis (Switzerland), Unomedical A/S (Denmark), Kimberly-Clark Corp (U.S.), DJO Inc. (U.S.), Excelsior Medical Corp. (U.S.), ICU Medical Inc. (U.S.), I-Flow Corporation (U.S.), Insulet Corp. (U.S.), IRadimed Corp (U.S.), LMA International NV (U.S.), Nipro Medical Corp. (U.S.), Summit Medical Group (U.S.), Symbios Medical LLC. (U.S.), Universal Medical Technologies Inc. (U.S.), and Zyno Medical LLC (U.S.).
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