Global Infusion Pumps and Accessories Market to 2027 - Increasing Use of Infusion Pumps In-Home Care Settings Presents Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Infusion Pumps and Accessories Global Market - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the infusion pumps and accessories global market is expected to grow at mid single digit CAGR from 2020 to 2027, to reach $14,886.0 million by 2027.
Infusion pumps are the therapeutic medical devices used to administer chemotherapy drugs, enteral and parenteral nutrients, insulin, blood and blood components, antibiotics, immunoglobulin and specialty pharmaceuticals to the patients' using a catheter or small pumps by different modes of administrations like intravenous, subcutaneous, epidural, Intraarterial, intrathecal, intra-ventricular, and enteral. These pumps play a major role in interruption-free medicine in all clinical settings and are an essential tool in preoperative, critical, postoperative recovery, and pain management care.
Factors such as the increase in the aging population & subsequent rise in the incidence of chronic diseases, technological innovations offering a wider scope of applications for infusion pumps, and increase in the use of infusion products in home care settings are the factors driving the market growth. The increasing trend for wireless infusion pumps, increased use of smart pumps, and market expansion in emerging nations are expected to offer potential opportunities.
However, various factors such as patient safety risks and medication errors associated with infusion pumps, an increasing number of infusion pumps product recalls are limiting the growth of infusion pumps and accessories global market. The threats for the infusion pumps and accessories market include lack of cyber-security in wireless infusion pumps and stringent regulatory requirements for the development and approval of new products. The use of smart, multichannel, and disposable pumps in almost all the therapeutic areas and insulin pumps for diabetes insulin management is the trend of this market, where, smart pumps and wireless infusion pumps are used to avoid the wrong medication administration, dosage errors, and are specially used for infusing very small dosage of medications.
Wearable drug delivery platforms such as the Sorrel device by Etian Group (Q-Core Medical) which comes with a pre-filled preloaded platform that enhances user experience and treatment adherence are being launched and the creation of De novo classification for insulin pumps called Alternate Controller Enabled (ACE) pump or "ipumps" by USFDA that will accelerate review, improve availability of intraoperable insulin pumps are some of the upcoming trends in the field of infusion pumps.
Drivers and Opportunities
- Increase in Aging Population and Subsequent Rise in the Incidence of Chronic Diseases
- Technological Advancements Offering a Wider Scope of Applications for Infusion Pumps
- Increasing Use of Infusion Pumps In-Home Care Settings
- Market Expansion Opportunities in Emerging Nations
- Increase in Hospitalization
Restraints and Threats
- Patient Safety Risks and Medication Errors Associated with Infusion Pumps
- The Increasing Number of Infusion Pumps Product Recalls
- Lack of Cybersecurity in Wireless Infusion Pumps
- Stringent Regulatory Requirements for New Products
- Ace Medical Co., Ltd.
- Adox S.A.
- Advanced Instrumentations Inc
- AKAS medicals
- Allied medical Ltd.
- Arcomed AG
- Aries S.r.l
- Ascor Med Sp. z o.o.
- ATOM Medical Corporation
- Avanos Medical, Inc.
- B Braun Melsungen A.G.
- Baxter International Inc
- Becton Dickinson & Company
- Beijing KellyMed Co., Ltd.
- Bio-Medical Electronics Co.,Ltd.
- Biosensor Industria e Comerco Eireli
- BPL Medical technologies
- CanafusionTechnologies Inc.
- CANE S.p.A
- Cardinal health Inc.
- And Many More Companies!
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