Rapid Infuser Device Market to Witness an Outstanding Growth by 2024
Rapid infuser is a procedure/treatment which involves administration of rapid fluid used during surgical procedure. Rapid infuser device is able to deliver the fluid (human body fluid) from slow to rapid continuous flow. Rapid infuser device is prominently used in emergency situations for safe and effective treatment (when patients are admitted with hypovolemic shock or excessive blood loss). There are two prominent types of rapid infuser devices: one is driven by compressor, while the other is connected to hospital wall pressurized outlets.
Convenient and most effective way of delivering fluids in short span of time are the major factors deriving the global Rapid Infuser Device Market. Moreover, use of this device in anesthesia centers have evolved over the years owing to product enhancements and application of information and sensing technology. Manufacturers in this industry are achieving innovation in patient care through integration of enhanced patient monitors, innovative parameters, wireless devices, workflows, and integrated IT solutions. This has enabled clinicians and anesthesiologists to practice and deliver customized services to patients. Manufacturing companies are not only providing technically advanced products, but also value added services such as predictable patient care, access to clinical information, and thus, optimized reimbursement. Moreover, rise in incidence of chronic pulmonary diseases is accelerating market growth. According to new estimates by the World Health Organization, COPD is predicted to become the third leading cause of death by 2030.
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An estimated 64 million people were suffering from COPD in 2004. Moreover, approximately 13.6 million adults were diagnosed with COPD in the U.S. alone. A rise in geriatric population suffering from COPDs and asthma is further expected to accelerate the growth of the rapid infuser devices market. Increase in the number of surgeries demand development of rapid infuser devices. According to the Centers for Disease Control and Prevention (CDC), approximately 51.4 million surgical procedures were performed in the U.S. alone in 2010, which included 1.01 million cardiac catheterizations, 1.1 million endoscopic procedures of the small intestine (with or without biopsy), 499,000 endoscopic procedures of the large intestine (with or without biopsy), 395,000 coronary artery bypass grafts (CABG), 719,000 knee replacements, and 332,000 total hip replacements. It has also revealed that the number would increase in the near future. However, slow adoption rate of rapid infuser devices by hospitals is expected to hamper market growth.
Geographically, the global rapid infuser devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America contributed to the largest share of market due to growing patient awareness, favorable initiative taken by the federal government and major market players are based in the region. Asia Pacific and Latin America is identified as the emerging region for rapid infuser devices. Manufacturers have taken advantage of the presence of relatively inexpensive skilled labor in these developing regions to set up manufacturing facilities and launch affordable innovative products. Moreover, the improving scenario for availing better health care facilities in countries such as India and China and the burgeoning medical tourism market in Asia is likely to offer immense growth opportunities in the rapid infuser devices market. Therefore, existing players are recommended to invest in emerging economies to increase their market shares.
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Key players operating in the global rapid infuser devices market include 410 Medical, Inc., Belmont Instrument Corporation, Smisson-Cartledge Biomedical, LLC, and ZOLL Medical Corporation.