Advanced Infusion Systems Market By Application, By Product, By End-User And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021).
Advanced Infusion Systems Market was worth $XX million in 2016 and estimated to reach $XX million by the end of 2021 with a CAGR of XX%. Infusion systems are medical instruments and disposables, which are used to distribute fluids or administer drugs in the form of solution to the patient’s circulatory system in a precise, controlled and systematic manner.
There are various methods to administer a drug into the patient’s system, of which, the most used mode is through intravenous, although arterial, subcutaneous and epidural infusion are more favorable. This instrument was widely used for medication purposes but because of high mortality rates associated with it, advanced infusion systems were developed.
Advanced Infusion Systems are a class of drug delivery devices that have found extensive acceptance and usage across various areas. Their popularity is mainly because of their dependable, ergonomic design and easy-to-use features.
These pumps have bolstered their position in a wide range of application areas including diabetes, oncology, enteral feeding pain management, and general infusion. Features like visual monitoring, easy start up, mobility of system, steady and continuous infusion of multiple drugs at the same time, patient safety some of the major factors that are furthering the growth of the potential market of advanced infusion systems over conventional ones.
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The growth in this market is largely driven by the increasing incidence of cancer, diabetes and chronic diseases owing to the rising geriatric population. Increasing use of infusion products in homecare with encouraging reimbursements has hugely boosted this market.
Immensely developed technology in infusion systems which eliminates user-related risks, safety, therapeutic effectiveness, higher bioavailability, increase in healthcare spending are also some other factors that propel the growth of the market. However, to operate these advanced infusion systems, extensive training is required.
If the training is not good enough, it can lead to increased mortality rate, which is restraining the growth of this market to some extent. The presence of strict regulations for product approval and possible medication errors associated with infusion pump may restrain the growth of the market during the forecast period.
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Global advanced infusion systems market is segmented based on type of application, type of product and end-users. Applications are segmented into Clinical Nutrition, Chemotherapy, Pain Management, Diabetes and Asthma Treatment.
Product type is segmented into Disposable Infusion System, Elastomeric Infusion System, Ambulatory Infusion System, Volumetric Infusion System, Patient Controlled Analgesia Pump, Syringe Infusion System and Implantable Infusion System. End-users has been further segmented as Diagnostic Centers, Hospitals and Ambulatory Surgical Centers.
On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America commands the largest regional segment of the global advanced infusion systems market.
In 2015, North America accounted for the largest share, with 48.7% of the market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. This is mainly because of the high adoption of ambulatory pumps in the management of chronic diseases; high prevalence of rising penetration of advanced infusion systems; chronic diseases; and well-established healthcare infrastructure in the region.
Asia-Pacific countries, particularly China and India) are expected to offer substantial growth opportunities for market players in the forecast period owing due to the huge patient population, increasing incidence of chronic diseases with changing lifestyles, improving healthcare facilities, increasing accessibility to advanced products, and increasing disposable income.
Hospira, Inc., is a market leader in infusion technologies globally. The major players in these markets are AngioDynamics, Inc., Medtronic, Inc., Terumo Corporation, Johnson & Johnson, CareFusion Corporation, Animas Corporation, Baxter International, Inc., B. Braun Melsungen AG, I-Flow Corporation, and F. Hoffmann-La Roche Ltd.
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