Dallas, TX -- (SBWIRE) -- 06/27/2014 -- The global infusion pumps accessories 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. The increasing use 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.
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The North American regional market contributed the highest share to the global infusion pumps accessories market in 2013, followed by Europe and Asia-Pacific. The European market is recovering from economical crises and will witness moderate growth for the market. The Asia-Pacific region forms one of the most promising infusion markets in the world with the highly growing Chinese and Indian markets.
The infusion pumps accessories market has witnessed a paradigm shift in the use of new and technologically advanced products causing a positive impact on the overall market growth. As a result, manufacturers are investing in and developing newer technologies to enhance their product portfolios.
The key players involved 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.), and Smiths Medical (U.S.)
Scope of the Report
Infusion accessories are majorly used for the delivery of fluids or drugs in a solution to the patients. Infusion pumps enable the continuous delivery of nutritional fluids and drug solutions at predetermined rates in a controlled manner. The infusion setting has its application in both hospitals and home care. The enhanced patient compliance and overall reduction in healthcare costs are expected to encourage the use of infusion accessories, specifically in home care segment.
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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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