Albany, NY -- (SBWIRE) -- 09/07/2017 -- The global infusion systems market is projected to reach around US$7.7 bn by the end of 2019, after being recorded at US$5.4 bn in 2012. The market is progressing at a CAGR of 5.30% from 2013 to 2019, according to a research report released by Transparency Market Research. The research report, titled "Infusion Pumps Market (Large Volume, Disposable, Syringe, Ambulatory, Implantable) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019", is available for sale on the company website.
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The report explains that the primary growth driver for the global infusion systems market is the increasing number of patients being diagnosed with chronic diseases such as diabetes and cancer. This market is also fueled by the growing number of geriatric citizens as the baby boomer generation nears old age. Other factors boosting the global infusion systems market are the technological advancements that have occurred in the design and materials used in infusion pumps.
Infusion pumps are vital to a healthcare organization are they are used to deliver fluids to a patient in controlled amounts. These fluids may be nutrients or medications, depending on the need. Infusion systems are widely used in hospitals and nursing homes.Some of the factors that control and/or hamper the global infusion systems market are product recalls and regulatory restraints. There have been multiple instances where multinational companies have made large-scale product recalls due to defective designs or compromised production. The U.S. infusion systems market is under control of the Patient Protection and Affordable Care Act, which limits the cost of a large number of healthcare products, including infusion systems.
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The report's segmented view of the global infusion systems market shows that the large volume infusion pumps had taken up: 36.50% of the global infusion systems market, on the basis of product type. This segment was followed by disposable infusion pumps, which are expected to dominate the global infusion systems market by the end of the report's forecast period. Disposable pumps are expected to receive improvements including higher accuracy of infusion, wireless integration with electronic health records, and the use of software for dose calculation.
The global infusion systems market in 2012 was led by clinical nutrition, on the basis of application. This segment is expected to grow at a consistent rate in the forecast period.The report's geographical analysis of the global infusion systems market reveals North America to have been the largest regional segment in 2012. The report, however, states that the fastest growth rate will be displayed by Asia Pacific, owing to the high density of population and its consequently larger patient pool. The region is experiencing a growing rate of patients being diagnosed with diseases, enabling a wider use of infusion systems. The increasing per capita income of citizens in India and China is also expected to bolster the global infusion systems market.
The key players in the global infusion systems market are Baxter International, Inc., Smiths Medical, Medtronic, Hospira, Inc., and CareFusion Corporation
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