An infusion pump is a medical device used to deliver various fluids to the body in a controlled manner
SEATTLE, WASHINGTON, UNITED STATES, January 5, 2022 /EINPresswire.com/ – Presentation:
An infusion pump is a medical device that delivers fluids, such as nutrients and drugs, into the body in controlled amounts. These pumps can be small volume pumps or large volume pumps. The use of infusion pumps requires qualified personnel as failure of the pump can adversely affect the health of the patient. Some of the commonly used infusion pumps are ambulatory pumps, syringe pumps, implantable pumps, positive displacement pumps, and insulin pumps.
The global infusion pump market was worth US $ 3,517.0 million in value at the end of 2019.
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The high prevalence of chronic diseases, such as cancer, is expected to propel the growth of the global infusion pumps market during the forecast period. According to the World Health Organization (WHO), around the world, one in five people will develop cancer in their lifetime, and 1 in 11 women and 1 in 8 men die from it.
Moreover, market players adopt various strategies, such as expansion, to strengthen their position in the market. It is also expected to increase the growth of the global infusion pump market. For example, in 2018, Fresenius Medical Care acquired a 70% stake in Guangzhou KangNiDaiSi Medical Investment Co. to expand its presence in China.
Infusion pumps are prone to user error which in turn is expected to hamper the growth of the global infusion pump market. For example, the ECRI Institute, a non-profit organization, has classified medication errors associated with infusion pumps as a major technology risk for 2019. Additionally, FDA recalls are expected to hamper market growth.
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Key points to remember:
Rising patient population, new product approval, and increased acquisitions from major players are major factors that are expected to drive the growth of positive displacement pumps segment and analgesia segment over the course of the forecast period.
Market players focus on securing contracts to strengthen their position or market share. For example, in 2019, Shift Labs, Inc., announced that the US Air Force (USAF) awarded a Phase II Small Business Innovation Research (SBIR) contract to develop wireless capabilities for the DripAssist Infusion platform. Rate Monitor and integrate the device with patient monitoring and digital health solutions for military and civilian customers.
Moreover, market players focus on advancement in infusion pump technology. In March 2019, Intelligraphics Inc. released a suite of advanced wireless roaming device drivers for medical systems to enable them to quickly connect to hospital, clinical and hospital computing environments.
â¢ CareFusion Company
â¢ B. Braun Melsungen AG
â¢ Fresenius Kabi SA
â¢ Medtronic Plc.
â¢ Terumo Company
â¢ Baxter International Inc.
â¢ MOOG Inc.
â¢ Smiths Medical
â¢ Johnson & Johnson Private Ltd.
In November 2018, Citus Health announced the availability of a new video chat solution to enable patients and staff to conduct virtual visits anytime, anywhere.
In March 2018, Connexall and ICU Medical announced the successful new integration of ICU Medical MedNet with the Connexall alarm management and event notification platform.
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