San Francisco, California, December 26, 2017: A recently added market study by TMR Research, titled, “Infusion Pumps Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers crucial information on the market so as to enable stakeholders in the market to take timely, informed decisions. To that end, it discusses in detail factors boosting or hampering the market and prominent trends and competitive dynamics molding its trajectory. It also sheds light on the size of the market based on current and historical figures and segments it depending on various parameters so as to understand which segments hold out most promise.
The primary function of infusion pumps is to deliver drugs or fluids such as nutrients or medications namely hormones, insulin, antibiotics, pain relievers, chemotherapy drugs, etc. in a patient’s body. It has many advantages. For instance, it can inject as little as 0.1 mL per hour or give a shot per minute as per the requirement of the patient. It can also regulate the flow of fluids – both drugs and other fluids – as and when needed. Besides, infusion pumps have the ability to generate tremendous pressure and also control the pressure as well. Infusion pumps also find application during the epidural procedure in childbirth. Owing to the aforementioned uses and benefits, infusion pumps save the cost of hiring a trained nurse to do the job of administering nutrients, medication, or fluids. As a result, their market is steadily growing.
Apart from that, the demand for infusion pumps is seeing a steady upswing on the back of increasing instances of different chronic diseases and rising number of surgeries. The growing pool of elderly is majorly contributing to the market since they are more prone of chronic diseases and often require surgeries. The increasing inclination towards alternative therapies for cancer, congestive pain, multiple sclerosis, chronic pain, and rheumatoid arthritis has stoked sales of infusion pumps.
There are various types of infusion pumps such as ambulatory and stationary infusion pumps sold in the market. They help to treat a wide array of diseases, namely diabetes, cancer, gastrointestinal diseases, AIDS, and neurological disorders. Insulin pumps, enteral feeding pumps, patient-controlled analgesia (PCA) pump, and insulin pumps are fast gaining popularity among patients. On order to up sales, manufacturers of medical devices are spending money on development of effective infusion pumps that are far more safer and administer medicines more accurately.
A noticeable trend in the market is the emergence of smart infusion pumps that leverages automation and modern sophisticated technologies such as cloud and analytics with ergonomic design, improved operation, user-friendly interfaces, and portability. The rising uptake of insulin pumps for managing diabetes by oneself in home settings and the adoption of implantable infusion systems for neurological diseases are developments that are expected to open up new avenues for growth in the market.
From a geographic perspective, North America plays a crucial role in the global market for infusion pumps. In the years ahead, the region is expected to expand at a healthy clip on the back of abundant availability of high-end pumps, swift uptake of ambulatory pumps for tackling chronic diseases, and the presence of a solid healthcare infrastructure. Asia Pacific is another key market that is predicted to clock impressive growth in the upcoming years owing to a burgeoning geriatric population, rising occurrence of chronic diseases and bettering healthcare infrastructure.
Some of the prominent participants in the global market for infusion pumps are B. Braun Melsungen AG, Becton, Dickinson and Company, Fresenius SE & Co. KGaA, Pfizer Inc., Medtronic, Roche Diagnostics, and Terumo Corporation.
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