Ambulatory IV infusion Pumps Global Market Report 2020: Long-term Forecast to 2025 & 2030 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 16, 2021--
The “Ambulatory IV infusion Pumps Global Market Report 2020-30: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com’s offering.
The global ambulatory IV infusion pumps market is expected to grow from $42 million in 2019 to $48.5 million in 2020 at a compound annual growth rate (CAGR) of 15.43%. The market is then expected to adjust and reach $53.3 million in 2023 at a CAGR of 3.21%.
Major players in the ambulatory IV infusion pumps market are Baxter International, B. Braun Holding GmbH & Co. KG, Becton, Dickinson and Company, Smith Medical, Terumo Corporation, Fresenius Kabi, Medtronic, ICU MEDICAL, INC., IRadimed Corporation and Mindray.
The ambulatory IV infusion pumps market consists of sales of ambulatory IV infusion pumps and related services by entities (organizations, sole traders and partnerships) that manufacture ambulatory IV infusion pumps. Ambulatory IV infusion pumps are portable medical devices used for controlled delivery of medication into the patient’s body. Only goods and services traded between entities or sold to end consumers are included.
North America was the largest region in the ambulatory IV infusion pumps market in 2019.
The ambulatory IV infusion pumps market covered in this report is segmented by type into disposable infusion pumps; chemotherapy infusion pump, and by end-user into hospitals; home healthcare; others.
In September 2019, Baxter International Inc., a global medical products company, acquired Cheetah Medical for $190 million. This deal is expected to expand Baxter’s product portfolio and strengthen the company’s clinical outcomes with patient monitoring technology. Cheetah Medical is a US-based device company offering non-invasive cardiac output and hemodynamic monitoring devices including infusion pumps.
The high cost of intravenous infusion pumps is a key factor for hampering the growth of the ambulatory IV infusion pumps market. The cost of medication therapies will be more than double when the intravenous infusion pumps in hospitals and pharmacies are networked, as they are preprogrammed with set limits to avoid intoxication or overdoses. For example, the cost of the syringe pump ranges from $2,380 to $5,982. Also, the pump-hardware support contracts vary between $150 to $250 per pump. The high cost of intravenous infusion pumps, which increases the cost of drug therapies, is therefore expected to hamper the growth of ambulatory IV infusion pumps market.
Companies in the ambulatory IV infusion pump market are increasingly focusing on developing smart infusion pumps. The use of wireless technology in the health monitoring devices is increasing, which enhances the ease of usage, connectivity and data analysis. The integration of wireless technology allows the transfer of data from the device to a smartphone or a wireless device through Bluetooth or cellular connection for data processing and then to display the results, which can be used for further study and to check the health condition of the individual.
Software platforms are being developed that allow patient monitoring and reduce human error. In June 2019, Ivenix, a US-based medical device company, received clearance for a new smart infusion pump that reduces human and software error with more streamlined technology.
The rise in the prevalence of people with chronic pain, cancer, and diabetes is a significant factor for the ambulatory IV infusion pumps market, as these pumps are commonly used to deliver pharmaceutical drugs during the treatment of these diseases. Chronic illnesses and disorders are on the rise around the world. An aging population and shifts in social behavior lead to a gradual increase in these widespread and expensive long-term medical issues.
An ambulatory IV infusion pump is a medical device that transfers regulated doses of nutrients or drugs into a patient’s body, such as chemotherapy medicines, pain relievers, antibiotics, insulin, or other hormones, at home. Therefore, the rise in the prevalence of chronic diseases is expected to drive the growth of the ambulatory IV infusion pumps market.
Key Topics Covered:
1. Executive Summary
2. Ambulatory IV infusion Pumps Market Characteristics
3. Ambulatory IV infusion Pumps Market Size And Growth
3.1. Global Ambulatory IV infusion Pumps Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Ambulatory IV infusion Pumps Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Ambulatory IV infusion Pumps Market Segmentation
4.1. Global Ambulatory IV infusion Pumps Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Disposable Infusion Pumps
- Chemotherapy Infusion Pump
4.2. Global Ambulatory IV infusion Pumps Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Home Healthcare
5. Ambulatory IV infusion Pumps Market Regional And Country Analysis
5.1. Global Ambulatory IV infusion Pumps Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Ambulatory IV infusion Pumps Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Baxter International
- B. Braun Holding GmbH & Co. KG
- Becton, Dickinson and Company
- Smith Medical
- Terumo Corporation
- Fresenius Kabi
- ICU MEDICAL, INC.
- IRadimed Corporation
- Moog Inc.
- Micrel Medical Devices SA
- Boston Scientific Corporation
- Pfizer Inc.
- Johnson & Johnson
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INDUSTRY KEYWORD: HEALTH MEDICAL SUPPLIES MEDICAL DEVICES
SOURCE: Research and Markets
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PUB: 09/16/2021 04:31 PM/DISC: 09/16/2021 04:32 PM