Global Infusion Pump Market – Overview
Global Infusion Pumps Market is expected to grow at a CAGR of 5.2 % during forecasted period 2017-2023. Infusion pumps are the medical devices which are used to deliver medication or nutrient to the body. They deliver the controlled amount of fluids and thus are helpful in delivering medication in diseases like diabetes. The major reason for the growth of this market is increasing prevalence of diseases like diabetes and cancer. Beside this increasing geriatric population and technological advances has provided fuel for the growth of the market. For instance, in May 2015, Pfizer has acquired Hospira Inc. and is the largest pharmaceutical overtake. This acquisition has increased the Pfizer’s market dramatically. Sapphire pumps which was launched by Hospira Inc. is boosting business.
The Global market for infusion pump is growing at a steady pace. The various factors that influence the growth of the market are increased use of infusion pumps for the delivery of drugs and other fluids, rising prevalence of chronic and fatal diseases, high demand of the infusion systems in the military medical units, technological advancements from the leading market players. Furthermore, the factors such as patient safety concerns and improper infusion leading to the severe consequences, unmet medical needs in the low-income countries are hamper the growth of the market.
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Infusion Pump Market Key Players:
CareFusion Corporation (US), Medtronic plc (Ireland), Johnson & Johnson (U.S.), Smiths Medical (U.K.), Becton Dickinson & Company (U.S.), B. Braun Melsungen AG (Germany), Baxter International, Inc. (U.S.), Pfizer, Inc. (U.S.), Fresenius Kabi (Germany), Roche Diagnostics (Switzerland), Moog Inc (U.S.), Asante (US), Biomedical Solutions (US), Flowonix Medical Inc (US), Hospira, Inc (US), Micromed (UK), Mircel Medical Device (Greece), Q-Core (Israel), Stryker (US), 3M (U.S.), ICU Medical, Inc. (U.S.), and Terumo Medical Corporation (Japan) are some of the prominent players at the forefront of competition in the global infusion pump market and are profiled in MRFR Analysis.
Global Infusion pump Market – Regional Analsysis
Geographically, the regional market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.
North America has the largest market for global infusion pumps market. It contributes around 41% of total market of the world. US and Canada is the major contributor for the infusion pump market in North America. Due to a huge diabetic population and increasing aging population in this region is the major factor for the growth of this market in US and Canada. According to Centre of Disease Control and Prevention, in 2014 29 million people are suffering from diabetes in America which is about 9% of total Americas population is suffering from diabetes. Beside this a huge aging population in America especially in Canada is the major driving factor for the growth of infusion pumps market in North America. Beside this improvement in healthcare sector and increase in the demand for the infusion pumps are the other factor providing fuel for the growth of the market.
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Europe is the second largest market for the infusion pumps. Europe infusion pumps market is driven by growing disease burden in oncology and diabetes, increase in demand of infusion pumps form home care patient and increasing in geriatric population. About 10% of the total Europe population suffers from diabetes and amongst total cancer death in the world 20% occur in Europe. Due to increase in the prevalence of diseases like diabetes and cancer in Europe is the major factor for increasing the market. Germany, France and UK are the major contributor to this market in Europe. About 70% of total Europe infusion pump market is acquired by these three countries.
Asia-Pacific is the fastest growing region for infusion pump market. Due to rapid development in healthcare sector and continuously increasing diabetic population is the important driving factor for the market. Huge population base in this region has attracted many of the major companies to develop their market in this region.
Global Infusion Pumps Market – Insights
Due to increasing prevalence of diseases like diabetes and cancer in the world has attracted man of the major and medium sized company to introduce the better and effective alternatives for the treatment. Presence of many minor and medium sized companies in the market has created competition. And so major companies are acquiring and merging with small companies so as to minimize the competition and increase the market.
For instance, CareFusion Corporation has developed the Alaris Pump module which is an infusion pump helps in continuous or intermediate delivery of fluid, blood or medication to patient of any age.
Johnson & Johnson has introduced Animas® Insulin Pumps for delivery of insulin to the diabetic patients. This pump is attached to Animas® Vibe® System for proving the real-time blood glucose insights.
Smiths Medical has launched CADD® an ambulatory infusion pump which provide reliable performance and accurate medication delivery. Due to small, lightweight and easy to use it is expected that this pump is soon find its place in home care segment. Beside this MEDFUSION™ a syringe infusion system is also widely used due to its dose accuracy, safety and simplicity.
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