Infusion Pumps Market to Record Sturdy Growth by 2019
A new Transparency Market Research report states that the global infusion pumps market stood at US$5.41 bn in 2012 and is predicted to reach US$7.77 bn by 2019, expanding at a CAGR of 5.30% from 2013 to 2019. The title of the report is, "Infusion Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019."
Infusion pumps are utilized to infuse medication, nutrients, and fluids into the circulatory system of a patient. They can administer fluids in ways which if done manually by nursing staff are unreliable or impractically expensive. Infusion pumps are capable of producing considerably high but controlled pressure levels so as to inject controlled amount of fluids epidurally or subcutaneously. Infusion pumps are most commonly utilized intravenously, although arterial, epidural, and subcutaneous infusions are also employed occasionally.
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As per the report, the rising count of patients suffering from cancer, chronic pain, and diabetes is a major factor fuelling the market for infusion pumps. In addition, the increasing aging population and the rising proliferation of products with advanced technologies are also amongst the chief factors stimulating the market for infusion pumps. On the other hand, some obstacles may arise in the infusion pump devices, especially those relating to product recalls, thus inhibiting the growth of the market.
In terms of product, the infusion pumps market is segmented into large volume, syringe, disposable, implantable, and ambulatory infusion pumps. Amongst these, the segment of large volume infusion pumps led the market in 2012 with a share of 36.9% on the basis of revenue. This segment is predicted to maintain its superiority all through the forecast horizon owing to wider infusion time range and high accuracy infusions provided by large volume infusion pumps. This segment was trailed by the segment of disposable infusion pumps.
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On the basis of pumping channel, the report segments the market into multiple channel and single channel infusion pumps. In terms of application, the report segments the market into chemotherapy, analgesia, clinical nutrition, diabetes, and others. Amongst these, in 2012, the segment of clinical nutrition held the largest share in the market. This is owing to the large malnourished population in countries of Africa and Asia Pacific. The segment of chemotherapy and analgesia trailed clinical nutrition and held the second-largest share in the market.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Amongst these, the North America infusion pumps market held the largest share in 2012 and is predicted to expand at a 4.90% CAGR from 2013 to 2019. On the other hand, Asia Pacific is anticipated to grow at a swifter pace as compared to that of North America in the forecast horizon due to the increasing occurrence of cancer and diabetes and the large population base in this region.
As per the report, the chief players operating in the market are CareFusion Corporation, Hospira, Inc., Baxter International, Inc., Fresenius Kabi AG, Terumo Corporation, and B. Braun Melsungen AG, among others.