Infusion Systems Market Set to Witness Explosive Growth by 2028
The steady growth of the global infusion system market has
been explored in a research report published by Market Research Future (MRFR)
that estimates expansion for this market with 5% CAGR between 2017 and 2023. In
terms of cash, the market is likely to rise to the US $ 9.7 bn during the
forecast period.
The key factors that influence the growth of global infusion
system market include high demand of the infusion systems in the
military medical units, increased use of infusion pumps for the delivery of
drugs and other fluids, rising prevalence of chronic and fatal diseases, and
technological advancements from the leading market players. However, some
factors that can obstruct the growth of this market include patient safety
concerns, the risk of improper infusion leading to the severe consequences, and
unmet medical needs in the low-income countries.
Key Players
The key players in the global infusion system market include
3M (USA), Asante (USA), Baxter International, Inc. (the USA), B. Braun
Melsungen AG (Germany), Becton Dickinson & Company (USA), Biomedical
Solutions (USA), CareFusion Corporation (USA), Flowonix Medical Inc (USA),
Fresenius Kabi (Germany), Hospira, Inc
(USA), ICU Medical, Inc. (USA), Johnson & Johnson (USA), Medtronic plc
(Ireland), Micromed (UK), Mircel Medical Device (Greece), Moog Inc (USA),
Pfizer, Inc. (USA), Q-Core (Israel), Roche Diagnostics (Switzerland), Smiths
Medical (U.K.), Stryker (USA), and Terumo Medical Corporation (Japan).
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The global infusion system market has been segmented on the
basis of application, end user, type, and lastly, region. As per the
application, this market has been segmented into chemotherapy, diabetes,
gastrointestinal disorders, pediatrics, and others. Based on the end user, the
market has been segmented into ambulatory surgical centers, home care, and
hospitals. By type, the market has been segmented into the ambulatory pump,
syringe pump, and volumetric pump. According to the report, the volumetric pump
holds the largest share of 37.1% of the market.
The regional segmentation of the global infusion system
market segments the market into regional markets known as North America,
Europe, Asia Pacific, and Middle East & Africa (MEA). Among all markets,
North America is the largest market for infusion pumps. During the forecast
period, it is expected to continue to hold this spot in the global infusion
system market. By the end of 2023, North America market is expected to reach
the US $ 3.49 bn. In North America, especially in the United States of America
(USA), advanced technologies are continuously rising, creating a market for
infusion pumps. The other important country-specific market in North America is
Canada.
Europe is the second largest market, and during the forecast
period, it is expected to reach nearly $3.11 bn. Western Europe is a bigger
market than Eastern Europe due to advanced technology and medical facilities.
Most countries with strong economies are also located in Western Europe which
makes it the bigger market. In Western Europe, the most important
country-specific markets are France, Germany, Italy, Spain, and the United
Kingdom (UK), followed by the rest of Western Europe.
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The Asia Pacific is a market that has lots of potential for
the growth of the infusion system market because many continuously growing
economies exist in this region. During the forecast period, it is expected to
emerge as the fastest growing regional market with 5.4% CAGR. The recent
developments in healthcare, improving economies, rising per capita income are
leading to the growth of the market in this region. The maximum revenue of this
market comes from Australia, China, India, Japan, and South Korea, followed by
the rest of the Asia Pacific region.
The Middle East and Africa have less economic developments
most countries in the MEA region have extremely low income. Therefore, the MEA
region has the smallest market share. However, during the forecast period, the
market in this region is likely to grow due to better infusion treatment in
this region. The reasons for the low market in this region include lack of
awareness, lack of education, lack of hygiene, lack of technological
development, political instability, poor healthcare, and healthcare not
considered a priority by most governments.
Latest Industry News
·
Aiming to reinvent the infusion process, Eli
Probst and Todd Metlen have teamed up to design and develop the Infuzi Brio,
the world's first ultrasonic infuser. The Infuzi Brio uses ultrasonic
technology to infuse the flavor of fruit, herbs, nuts, and spices into liquor
in a matter of hours, instead of days or weeks. 14 SEP 2018
·
Amgen has announced that the Japanese Ministry
of Health, Labour and Welfare has granted marketing approval for BLINCYTO®
(blinatumomab) for the treatment of relapsed or refractory B-cell acute
lymphoblastic leukemia (ALL). The dosage of BLINCYTO via infusion treats ALL.
25 SEP 2018.
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