The global Intravenous Infusion Pumps Market size is expected to reach USD 8.4 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2028. The introduction and development of specialty and smart pumps are imparting crucial growth of the market as they constitute Dose-error Reduction Software (DERS) and customized drug libraries. According to a study conducted by Mindray Medical Company in 2018, medical pumps are the most conventional hospital rentals equipment.
To improve the safety and efficacy of intravenous
infusion pumps, the U.S. FDA took an initiative known as the Infusion Pump
Improvement Initiative in 2010, which focuses on supporting the benefits of
generic pumps and minimizing the risk associated with them at the same time.
FDA also launched a website that gives peculiar information about medical pumps
to the patients, users, and other stakeholders. Several government
collaborative research projects like the Generic Infusion Pump Project are
introduced that are aimed at creating new methods for manufacturers for
developing software for intravenous medical pumps. National Institute of
Standards and Technology is working in collaboration with NCCoE to manufacture
wireless medical pumps and such incorporation of various government policies
and regulations will in turn propel the market.
The amalgamation of factors like the shift in
technology, automation, and standardized dosing for the intravenous medical
devices are anticipated to make therapy more convenient and user-friendly for
patients. For instance, in May 2018, Baxter launched SPECTRUM IQ that allows
patients records to be transferred directly from the EMR to the infusion system
which is apt for home therapy as well as for therapies carried out in hospitals.
The hematology disease indication segment is
anticipated to grow fast over the forecast period. Rising cases of blood cancer
are driving demand for blood transfusion through hematology, thereby driving
the segment. North America dominated the market in 2019 and is anticipated to
maintain its dominance over the forecast period. Increasing number of
surgeries, rising cases of chronic diseases, and R&D in healthcare sector
are driving the market in the region.
Related Press Release@ Intravenous Infusion Pumps Market Report
Intravenous Infusion Pumps Market
Report Highlights
- Ambulatory infusion pumps emerged as the largest product segment in
2019 owing to increasing use of delivery fluids such as nutrients and
medications in case of emergencies and treatments like chemotherapy
- The implantable infusion pumps segment is projected to register the
highest CAGR over the forecast period as they offer advantages such as
improved safety
- The pediatrics/ neonatology segment dominated the market in 2019 in
terms of disease indication as there have been growing incidences of
premature birth and hence require optimum care and nutrition
- In Asia Pacific, the market is projected to witness the fastest
growth over the forecast period owing to the increasing number of
geriatric and diabetic patients in the region.
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in San Francisco. The company provides syndicated research reports, customized
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