Boston, MA -- (SBWIRE) -- 04/28/2014 -- Infusion Pumps & Accessories Market by Product (Volumetric, Syringe, Enteral, Insulin, Implantable, PCA Pump), Application (Diabetes, Chemotherapy, Nutrition, Pain Management) & by End-user (Hospital, Home Healthcare) - Global Forecasts to 2018
Infusion pumps and accessories have evolved from regular pumps to modern, automated, integrated, and flexible pumps to meet patient compliance requirements and also provide cost-effective treatment. The safety and quality of infusion pumps and accessories have also gained greater importance in the healthcare market over the years.
In this report, the global infusion pump and accessories market is broadly segmented by product, application, and end user. The market, depending on the type of product, is further segmented into devices (pumps) and accessories/disposables. The accessories/disposables are further subdivided into dedicated disposables and non-dedicated disposables. On the basis of the application area, the market is categorized into diabetes, chemotherapy/oncology, gastroenterology, hematology, analgesia/pain management, pediatrics/neonatology, and others. Based on end users, the market is divided into hospitals, home care, and others.
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Over the past few years, the infusion pumps and accessories market has witnessed a stable growth rate. By 2018, the market is expected to grow at a CAGR of 5.7% from 2013 to 2018 to reach $9,427 million. The overall growth in the infusion pumps and accessories market is largely driven by the increasing demand of these products in the home care segment, newer products providing ease of handling and better efficacy, and increasing rate of chronic diseases.
Currently, owing to the growing concerns over healthcare costs across the globe, many infusion pump manufacturers are under pressure to maintain and improve their existing profit margins. The manufacturers are focusing on investments in high-growth markets such as India, China, and Brazil. Furthermore, many major companies are also establishing their subsidiaries in these regions to establish a strong foothold in these countries. Driven by such a transition, the APAC, Middle East and Africa, and Latin American regions are expected to spearhead the overall infusion pumps and accessories market growth.
Currently, the global infusion pumps and accessories market is in a transition phase, wherein home care use of infusion pumps is increasing. The shift in demand from hospitals to home care settings is witnessed for insulin pumps, patient-controlled analgesia pumps, and ambulatory pumps due to the increased acceptance by patients and focus for the reduction of overall treatment costs associated with longer hospital stays.
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