Healthcare

Infusion Pumps Market Advancements to Watch Out For 2024

Press Release

An infusion pump delivers medications and nutrients to patients who cannot take the same orally. These devices find wide application in hospitals to administer drugs in a controlled rate as programmed by the healthcare professional. These pumps offer various advantages over manual administration of medications or any other fluids such as automated delivery of fluids in smaller volumes at preset intervals. High-risk medications for cancer, anesthesia, and diabetes (insulin), among others can thus be safely delivered using infusion pumps. A variety of infusion pumps are available in the market including ambulatory pumps, volumetric pumps, syringe pumps, enteral pumps, insulin pumps, and implantable pumps.

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Market Dynamics

Accurate engineering of infusion pumps is very essential to avoid over- or under-infusion of medications. To ensure safe usage of these devices, the U.S. FDA issued a three step program in 2010:

  • Increasing awareness among the users
  • Proactively facilitating improvements in infusion pump devices
  • Publishing guidelines for the industry

In January 2017, the regulatory body issued a statement addressing caution in MRI scan of patients with implantable infusion pumps. It stated that only infusion pumps labeled as MR-conditional should be scanned safely under specific conditions mentioned by the manufacturer of infusion pump. Ambulatory infusion pumps offer the user a convenience to administer medications while on the move. The infusion pump market is attracting investments by non-existing market players. ICU Medical, Inc. acquired Hospira’s infusion pumps business from Pfizer, Inc. in February 2017 for US$ 900 million.

Key players in the infusion pumps market are focusing on reducing error rates

Major investments are being made by key players for the advancement of products that are used in the infusion pumps devices, owing to increasing number of applications and better return on investment. For instance, an update from VertMarkets, Inc. revealed that Baxter is developing a new infusion pump platform, reinvigorating bio-surgery sector. Also, companies are focusing on product advancements to increase application area of infusion pumps for analgesic applications.

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Detailed Segmentation:

  • Global Infusion Pumps Market, By Device Type:
    • Ambulatory
    • Volumetric Pumps
    • Syringe Pumps
    • Enteral
    • Insulin
    • Implantable
    • Patient Controlled Analgesia Pumps
    • Pump Accessories
  • Global Infusion Pumps Market, By Application:
    • Chemo Therapy/Oncology
    • Pediatrics/Neonatology
    • Analgesia
    • Gastroenterology
    • Hematology
    • Diabetes
  • Global Infusion Pumps Market, By Channel Type:
    • Single Channel
    • Multi-Channel
  • Diabetes Global Infusion Pumps Market, By End User:
    • Hospitals
    • Ambulatory clinics
    • Home care
    • Clinics
    • Others

Application-specific products an emerging strategy adopted by infusion pumps market players

Well managed and schematic approach towards integration of major players followed by various acquisitions in infusion pumps market is expected to fuel the product advancement and product introduction in the infusion pumps market. According to CareFusion Corporation, in 2013, around 61% of most costly and serious medication errors were related to intravenous infusions in the U.S., which was the major concern of the hospitals to make the system error free and effortless. To address the same, CareFusion Corporation introduced a new system named Alaris System, having Guardrails Suite MX software and combines a single point-of-care unit. This is expected to minimize the infusion errors in the future. As statistics suggest, there were significant number of mergers and acquisition that have added to the development and advancement of new infusion pumps products. For instance:

  • In 2015, Becton Dickinson acquired CareFusion Corporation – a provider of large volume infusion pump – this acquisition is expected to favor the growth in product portfolio of Becton Dickinson & Company
  • In 2015, Medtronic – a medical device company with extensive product line – acquired Covidien – a health care products company and global manufacturer of medical devices. This is expected to favor the company’s expansion in terms of geography

This post was originally published on Trading Herald

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