Advanced Infusion Systems Market Size and Growth Rate:
“The Global Advanced Infusion Systems Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR of XX% over next seven years 2019-2025 due to rise in occurrences of cancer and other chronic diseases”
Advanced Infusion Systems Market Growth Drivers and Restraints:
The global advanced infusion systems market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors fuelling the market growth include increasing global population, rise in occurrences of cancer and other chronic diseases, huge advancements in infusion systems, growing health care spending and increasing use of infusion products in homecare with promising reimbursements policies. However, lack of skilled labor is the major factor restricting the market growth.
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Elastomeric Infusion Systems dominate the Global Advanced Infusion Systems Market
Based on product type, global advanced infusion systems market is segmented into elastomeric infusion systems, volumetric infusion systems, disposable infusion systems, patient controlled analgesia pumps, syringe infusion systems, ambulatory infusion systems and implantable infusion systems. Elastomeric Infusion Systems held considerable market growth during estimated period. Elastomeric pumps are disposable, non-electronic medication pumps that brings fluids such as analgesics, antibiotics, etc. into a patient’s body in controlled amounts. The required pressure for controlling the drug comes from the elastomeric layer existing inside the pump. Pump failure can have substantial implications on patient safety, making it mandatory for pumps to be operated by a trained person.
North America Leads the Global Advanced Infusion Systems market
PBI’s global advanced infusion systems market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. North America accounted for larger revenue share in global advanced infusion systems market with considerable CAGR. The growth in this region can be attributed to rising demand for improved technology in the healthcare. Also, United States and Canada are the major contributors for the market growth in this region. In addition, Asia Pacific held significant market share during estimated period owing to increased availability of enhanced healthcare facilities and increasing geriatric population in the region.
Strategic Partnerships are the Key Strategies Adopted by Market Players
Global advanced infusion systems market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in 2016, Hospira partnered with iatric systems to deliver smart pump-EMR interoperability to hospitals
Key player’s profiles in the report are Hospira, Inc. (Pfizer Inc.) (U.S.), AngioDynamics (U.S.), Becton, Dickinson and Company (U.S.), Animas Corporation (Johnson & Johnson) (U.S.), Braun Melsungen AG (Germany), Terumo Medical Corporation (Japan), Iartic Systems Inc. (U.S.), Hoffmann-La Roche Ltd (Switzerland), Medtronic (U.S.), Baxter International Inc. (U.S.) and I-Flow Corporation (Kimberly-Clark) (U.S.).
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