An infusion pump is a medical device that is used to deliver various fluids to the body in a controlled manner

SEATTLE, WASHINGTON, UNITED STATES, January 5, 2022 /EINPresswire.com/ -- Overview:

An infusion pump is a medical device that delivers fluids, such as nutrients and medications, into the body in controlled amounts. These pumps can be either small volume pumps or large volume pumps. The use of infusion pumps requires trained personnel as failure of the pump can adversely affect the health of the patient. Some of the commonly used infusion pumps are ambulatory pumps, syringe pumps, implantable pumps, volumetric pumps, and insulin pumps.

The global infusion pumps market was accounted for US$ 3,517.0 million in terms of value by the end of 2019.

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Drivers:

High prevalence of chronic diseases, such as cancer, is expected to propel the global infusion pumps market growth during the forecast period. According to the World Health Organization (WHO), worldwide, one in five people develop cancer during their lifetime, and 1 in 11 women and 1 in 8 men die from the disease.

Moreover, market players are adopting various strategies, such as expansion, to strengthen their market position. This in turn is also expected to augment growth of the global infusion pumps market. For instance, in 2018, Fresenius Medical Care acquired a 70% share of Guangzhou KangNiDaiSi Medical Investment Co. to expand its presence in China.

Restraints:

Infusion pumps are prone to user errors, which in turn is expected to hamper the global infusion pumps market growth. For instance, ECRI Institute, nonprofit organization, ranked drug errors associated with infusion pumps as a top technology hazard for 2019. Moreover, FDA recalls is expected to hinder growth of the market.

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Key Takeaways:

Increasing patient population, new product approvals, and increasing acquisition from major players are some major factors expected to boost the growth of the volumetric pumps segment and analgesia segment over the forecast period.

Market Trends:

Market player are focusing on gaining contracts to strengthen their market position or share. For instance, in 2019, Shift Labs, Inc., announced that the United States Air Force (USAF) has awarded a Phase II Small Business Innovation Research (SBIR) contract to develop wireless capabilities for DripAssist Infusion Rate Monitor platform and integrate the device with patient monitoring and digital health solutions for both military and civilian customers.

Moreover, market player are focusing on advancements in infusion pump technology. In March 2019, Intelligraphics Inc. launched a wireless advanced roaming device driver suite for medical systems to enable them to quickly connect to hospital, clinical, and quickly connect to hospital, EMS IT environments.

Competitive Landscape:

• CareFusion Corporation
• B. Braun Melsungen AG
• Fresenius Kabi AG
• Medtronic Plc.
• Terumo Corporation
• Baxter International Inc.
• MOOG Inc.
• Smiths Medical
• Hospira
Inc.
• Johnson & Johnson Private Ltd.

Key Developments:

In November 2018, Citus Health announced that it has made available a new video chat solution to enable patients and staff with virtual visits anytime, anywhere.

In March 2018, Connexall and ICU Medical announced the new, successful integration of ICU Medical MedNet to the Connexall alarm management and event notification platform.

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