NEW YORK, Oct. 10, 2016 /PRNewswire/ -- Infusion pumps and accessories are class of drug delivering devices used for administering medications in a controlled, precise and automated manner. These devices are mainly used for therapeutic purposes in critical care, pain management and other applications, where continuous medications are required to make patient's feel comfortable and pain free. These infusion systems help in avoiding medical errors which would lead to serious life threatening circumstances or even sometimes to death of a patient.
Infusion pumps & accessories market is segmented on the basis of applications, products, mode of administration, end-users and geography. Applications are segmented into gastroenterology, oncology, endocrinology, anaesthesia/critical care/ pain management, neonatology/paediatrics and others. In infusion pumps & accessories products market, market is segmented into infusion pumps, disposables, softwares and servicing, whereas infusion pumps are further sub-segmented into external infusion pumps and implantable infusion pumps. External infusion pumps are further segmented into volumetric infusion pumps, syringe infusion pumps, ambulatory Infusion pumps, insulin infusion pumps and patient controlled analgesic pumps.
Disposables are segmented into dedicated disposables and non-dedicated disposables, whereas dedicated disposables are further classified into volumetric infusion pump dedicated disposables, syringe infusion pump dedicated disposables, ambulatory infusion pump dedicated disposables, insulin infusion pump dedicated disposables, patient controlled analgesic pump dedicated disposables and implantable infusion pump dedicated disposables. Non-dedicated disposables are further segmented into infusion catheters, IV sets, cannulas, valves and others. Mode of administration is segmented into intravenous, subcutaneous, epidural and others.
End-users are further classified into hospitals, ambulatory surgical centers, homecare and others
Among the infusion pumps & accessories applications market anaesthesia/critical care/pain management segment holds the largest share and endocrinology is expected to be the fastest growing segment from 2015 to 2022. In products market disposables holds the largest share of the market with a strong CAGR of 6.2%. In end- users, hospitals segment is the largest market and homecare is the fastest growing segment from 2015 to 2022.
Geographically, North America is the largest market followed by Europe and Asia Pacific. The APAC region is the fastest growing region from 2015 to 2022 presenting an array of opportunities for growth and is likely to get attention of new investors in the infusion pumps & accessories market. Growth in the Asian market is attributed to rising prevalence of lifestyle diseases and government initiatives in establishing innovative technologies and demand for sophisticated medical services.
The infusion pumps & accessories market is expected to grow at a mid range single digit CAGR during 2015 to 2022. Increase in aging population and subsequent rise in incidence of chronic diseases, technological innovations offering wider scope of applications for infusion pumps and increase in use of infusion products in homecare setting are the factors driving the market growth. Increasing trend for wireless infusion pumps, emergence of smart pumps and market expansion opportunities in emerging nations are expected to offer potential opportunities.
However various factors like patient safety risks and medication errors associated with infusion pumps, lack of cybersecurity in wireless infusion pumps limit the growth of infusion pumps & accessories global market. The threats for the infusion pumps & accessories market include increasing number of infusion pump product recalls due to FDA mandates and stringent regulatory bodies guiding the infusion pump manufacturers.
The infusion pumps & accessories global market is a highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares.
Some of the key players of the infusion pumps & accessories market are Johnson & Johnson (U.S.), Terumo Corporation (Japan), Medtronic plc (Ireland), Pfizer, Inc. (U.S.), Becton Dickinson & Company (U.S.), Smiths Medical (U.K.), Fresenius Kabi (Germany), Roche Diagnostics (Switzerland), Moog Inc (U.S.), Baxter International, Inc. (U.S.) and B. Braun Melsungen AG (Germany).
The report provides an in depth market analysis of the above mentioned segments across the following regions:
- North America
- Rest of the World (RoW)
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