According to Goldstein Research, “Growing prevalence of chronic disease coupled with rising geriatric population and the presence of big market players that offers products and services in local and international markets are the major factors driving the growth of infusion pumps market.” Moreover, in developing countries the demand for infusion pumps are growing as the expenditures over healthcare sector is increasing and the adoption of speciality infusion pumps are also growing, offering significant growth opportunities for infusion pumps market. However, medication and dosage errors associated with infusion pumps leading to product recalls and stringent regulations for new designs, which may hinder the growth of infusion pumps market during forecast period.
Browse Full Report: Infusion Pumps Market
Global infusion pumps market is segmented based on product, application and end-users. Product segment is further categorized into ambulatory infusion pumps, implantable infusion pumps, syringe pumps, volumetric pumps and infusion disposable sets. Among these segments of products, volumetric segment accounted for the highest revenue share with over 22%, despite witnessing slight decline in growth rate. Ambulatory pump will emerge as the second largest segment accounting for nearly 17.5% share by 2024. Global infusion pumps market valued value of USD 7.2 billion in 2016 and is projected to grow at a CAGR of 5.9% over the forecast period i.e. 2016-2024.
Geographically, developing countries in APAC, Latin America and the Middle East and Africa region have great opportunities for infusion pumps market. Various initiative and enhanced investments in healthcare sector from the different regional governments for the development of healthcare system support the growth 0f infusions pump market in these developing economies. Middle East region currently accounts for more than 12% revenue share in overall infusion pumps market. In 2015, UAE spend more than USD 10.2 billion over healthcare sector and the healthcare in gulf countries is expected to grow at a CAGR of 11.3 % over the forecast period, which will encourage the infusion pump manufacturers to invest in these countries.
Merger and Acquisition: Emerging Strategy Adopted by Infusion Pumps Market Players
Well schematic incorporation of major market players followed by various merger and acquisitions in infusion pumps market is likely to fuel the product advancement and innovation is expected to drive the infusion pumps market. According to CareFusion Corporation, around 63% of medication errors are related to intravenous infusions in the United States, which is the major concern for market players as well as for hospitals to make the products and system error free. To address the problem CAreFusion Corporation introduced a new advanced system referred as Alaris System integrated with Guardrails Suite MX software and combines a single point-of-care unit to minimize the infusion errors. Moreover, significant numbers of merger and acquisitions have considerably contributed to the development and advancement of new infusion pumps. For instance, in 2015 Medtronic a medical device company acquired Covidien a healthcare products company, which favoured the company’s expansion in terms of geography.
“Global Infusion Pumps Market Outlook 2024” contains detailed overview of the global infusion pumps market in terms of market segmentation by components, by software, by end-user and by application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global infusion pumps market also provides competitive outlook of some of the major players of global infusion pumps market which includes profiling of companies such as Medtronic Plc., Pfizer (Hospira) Inc., Johnson & Johnson Private Ltd., Braun Melsungen AG., Smiths Medical, CareFusion Corporation, Fresenius Kabi AG, MOOG Inc., Terumo Corporation, Becton, Dickinson and Co., B. Braun Melsungen AG, F. Hoffmann-la Roche Ltd., etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global infusion pumps market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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