Dallas, TX -- (SBWIRE) -- 05/08/2014 -- The global infusion pumps market was valued at $7,143 million in 2013 and is expected to grow at a CAGR of 5.7% in the next five years owing to growing incidences of chronic diseases resulting from rising aging population in the forecast period, which in turn leads to an increase in the demand for infusion accessories for more effective and controlled management of chronic diseases.
Browse 179 market data tables, 44 figures spread through 370 pages and in-depth TOC on “Infusion Pumps and Accessories Market”
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In 2013, the volumetric infusion pumps segment commanded the largest share of the global market and is expected to grow with moderate CAGR in next five years. The increasing applications and acceptance of insulin infusion pumps, patient controlled analgesia pumps, and implantable infusion pumps is expected to push the growth of these segments at a strong CAGR during the forecast period of 2013 to 2018.
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The increasing use of infusion pumps for pain management and home healthcare is expected to boost this market. Additionally, the advancements in infusion pump technology are estimated to play an important role in the growth of this market. However, the frequently occurring safety-related issues with the use of infusion pumps and the stringent regulatory steps by governing authorities appear to dampen the overall market growth to a certain extent.
The overall market is further divided into four major geographies, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). These regions are further analyzed at the country level.
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North America dominated the infusion pumps market in 2013, accounting for a share of around 40% to 45%. However, the developed geographies like North America and Europe are likely to grow at lower CAGRs than the Asia-Pacific and RoW markets. The growing economical condition, increasing healthcare expenditures, and rising adoption of newer technologies in the Asia-Pacific region will drive the market in this region.
The major players in the market are B. Braun Melsungen AG (Germany), Baxter International Inc. (U.S.), CareFusion Corporation (U.S.), Fresenius SE & Co. KGaA (Germany), Hospira, Inc (U.S.), Smiths Medical (U.S.), and Terumo Corporation (Japan).
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