According to the new market research report ” IV Equipment Market by Product (Infusion Pump, Catheter, Solution and Blood Administration Set, Securement Device, Cannula, Stopcock, Needleless Connector), End User (Hospitals & Clinics, Homecare, Ambulatory Care Center) – Global Forecast to 2022″, published by MarketsandMarkets™

,The overall IV equipment market is expected to grow from USD 10.07 billion in 2017 to USD 13.64 billion by 2022, at a CAGR of 6.2% from 2017 to 2022.

Browse in-depth TOC on “IV Equipment Market”
102 – Tables
38 – Figures
166 – Pages

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IV Equipment Market is estimated to be the largest segment for the market

The major factors driving the growth of this market include increasing incidence of chronic diseases, rapid growth in the aging population, and growing number of surgical procedures. The high growth in developing countries across Asia-Pacific and Latin America are expected to provide significant growth opportunities for players operating in the IV equipment market in the coming years. However, stringent regulatory requirements for new products and increasing incidence of medication errors and lack of wireless connectivity in most hospitals pose challenges for the growth of this market.

Target Audience :

• Medical device manufacturers and distributors
• Research and development institutions
• Hospitals and ambulatory surgery centers
• Market research and consulting firms
• Venture capitalists and investors
• Government organizations
  
  

IV catheters to hold the largest market share during the forecast period

Based on product, the IV equipment market is segmented into IV catheters, administration sets, infusion pumps, securement devices, stopcocks & check valves, drip chambers, needleless connectors, and others. In 2016, the IV catheters accounted for the largest share of the market. Increasing prevalence of chronic diseases and the growing number of surgical procedures are the key factors driving the market growth in this segment.

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Major Market Developments :

• In 2015, Becton, Dickinson and Company acquired CareFusion Corporation (US). The combination of these two companies’ complementary product portfolios offered integrated medication management solutions and smart devices, including infusion pumps.
  
  
• In 2017, BD launched a new IV medication safety solution at the European Association of Hospital Pharmacists (EAHP, Cannes) congress to improve patient safety. This product is designed to prevent medication administration errors.
• In October 2017, ICU Medical, Inc. acquired Pfizer’s Hospira infusion systems (HIS, U.S.) business segment with a comprehensive portfolio of complete IV therapy from pumps to solutions.
  
  

The IV equipment market in APAC is expected to grow at the highest CAGR during the forecast period. The demand for IV equipment and accessories in the APAC region is majorly driven by factors such as the large population base in the region, rising geriatric population, rising incidence of chronic diseases, improving accessibility to advanced healthcare facilities, rising healthcare spending, growing penetration of health insurance, increasing demand for advanced technologies, growing investments in emerging APAC countries by key market players, and expansion of private-sector hospitals to rural areas.

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Some key players mentioned in the research report are:

Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG (Germany), Baxter International Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), ICU Medical, Inc. (U.S.) held the major share of the IV equipment market and will continue to dominate the market between 2017 and 2022. Other major players operating in this market are Smiths Medical (U.K.), Moog, Inc. (U.S.), Terumo Corporation (Japan.), C. R. Bard, Inc. (U.S.), and AngioDynamics, Inc. (U.S.).

Infusion Pump Market Share, Trends And Growth Analysis By Type (Volumetric Pump, Syringe Pump, & Others), By Application (Chemotherapy, Diabetes, Gastrointestinal Diseases, Pediatrics & Others), By End User (Hospitals, Ambulatory Surgical Centers, Homecare & Others) - Forecast To 2023

Global Infusion pump Market - Overview

Infusion pumps are the medical devices which are used to deliver medication or nutrient to the body. They deliver the controlled amount of fluids and thus are helpful in delivering medication in diseases like diabetes. The major reason for the growth of this market is increasing prevalence of diseases like diabetes and cancer. Beside this increasing geriatric population and technological advances has provided fuel for the growth of the market.  For instance in May 2015, Pfizer has acquired Hospira Inc. and is the largest pharmaceutical overtake. This acquisition has increased the Pfizer’s market dramatically. Sapphire pumps which was launched by Hospira Inc. is boosting business.

Market key Players

CareFusion Corporation (US), Medtronic plc (Ireland), Johnson & Johnson (U.S.), Smiths Medical (U.K.), Becton Dickinson & Company (U.S.), B. Braun Melsungen AG (Germany), Baxter International, Inc. (U.S.), Pfizer, Inc. (U.S.),  Fresenius Kabi  (Germany), Roche Diagnostics (Switzerland), Moog Inc (U.S.), Asante (US), Biomedical Solutions (US),  Flowonix Medical Inc (US), Hospira, Inc (US), Micromed (UK), Mircel Medical Device (Greece), Q-Core (Israel), Stryker (US), 3M (U.S.), ICU Medical, Inc. (U.S.), and Terumo Medical Corporation (Japan) are some of the prominent players at the forefront of competition in the global infusion pump market size and are profiled in MRFR Analysis. 

Global Infusion pump Market – Regional:

Geographically, the regional market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.

North America has the largest market for global infusion pumps market. It contributes around 41% of total market of the world. US and Canada is the major contributor for the infusion pump market in North America. Due to a huge diabetic population and increasing aging population in this region is the major factor for the growth of this market in US and Canada. According to Centre of Disease Control and Prevention, in 2014 29 million people are suffering from diabetes in America which is about 9% of total Americas population is suffering from diabetes. Beside this a huge aging population in America especially in Canada is the major driving factor for the growth of infusion pumps market in North America. Beside this improvement in healthcare sector and increase in the demand for the infusion pumps are the other factor providing fuel for the growth of the market.

Global Infusion pump Market – Company

Due to increasing prevalence of diseases like diabetes and cancer in the world has attracted man of the major and medium sized company to introduce the better and effective alternatives for the treatment. Presence of many minor and medium sized companies in the market has created competition. And so major companies are acquiring and merging with small companies so as to minimize the competition and increase the market.

Intended Audience

• Infusion pump manufacturers and suppliers
• Contract Research Organizations (CROs)
• Research and Development (R&D) Companies
• Government Research Laboratories
• Independent Research Laboratories
• Government and Independent Regulatory Authorities
• Market Research and Consulting Service Providers
• Academic Institutes and Universities

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Infusion Pump Market Share, Trends And Growth Analysis By Type (Volumetric Pump, Syringe Pump, & Others), By Application (Chemotherapy, Diabetes, Gastrointestinal Diseases, Pediatrics & Others), By End User (Hospitals, Ambulatory Surgical Centers, Homecare & Others) - Forecast To 2023

Rising investments in R&D by the leading market players to bring about further innovations and advancements in their existing product range drive the growth of the infusion pump market. Conversely, patient safety concerns, and improper infusion leading to the severe consequences are factors impeding the growth of the market. Moreover, unmet medical needs in underdeveloped countries would act as an obstacle to market growth.

Nevertheless, advanced infusion systems would support market growth, increasingly allowing hospitals to make the most of the required expertise. These improved systems would also enable greater participation throughout the infusion process. As medical records become more automated, infusion pumps are too expected to grow increasingly automated. Moreover, as electronic medical records and smart pumps penetrate deeply into the developed markets such as the US and Europe, the infusion pump market value is expected to increase further.

 The Global Infusion Pump Market size is anticipated to reach USD 9.71 billion with expanding at a CAGR of 5% throughout the forecast period (2017-2023). Rising use of infusion pump for drug delivery and high requirement of infusion systems in the military medical units predominantly propel the growth of the Infusion Pump Market. The Infusion pump market size to witness significant growth due to growth in the burgeoning healthcare sector and increasing occurrences of fatal & chronic diseases, globally. Moreover, rising awareness and concerns related to health are some of the factors escalating the market at a global level.

Global Infusion Pump Market Segmentation

The global infusion pump market has been segmented based on

• Types
• Application
• End-user
• Regions

Based on Types, the global market has been segmented into

• Volumetric Pump
• Syringe Pump
• Ambulatory Pump
• others

Based on Application, the global market has been segmented into

• Chemotherapy
• Diabetes
• Gastrointestinal Diseases
• Pediatrics
• Other

Based on End-user, the global market has been segmented into

• Hospitals
• Ambulatory Surgical Centers
• Homecare
• Others

Infusion Pump Market Regional Analysis

Based on the geographical distribution, the Global infusion pump market is split among the regions of

• North America
• Europe
• Asia Pacific
• Middle East & Africa

North America infusion pump market size is expected to reach USD 3.49 Billion by 2023. North America leads the largest infusion pump market share globally. In the region, advancements in technologies are continuously on the rise. Besides, the high prevalence of diabetes and high healthcare expenditures are fostering regional market growth. The US and Canada, heading with a large number of diabetic population and increasing aging population account for the growth contributors to the regional market. Additionally, the presence of well-established healthcare sector and key players substantiate the growth of the regional market.  Rising with the augmenting market demand,

The European infusion pump market share would reach nearly USD 3.11 billion by the end of the forecast period.  The infusion pump market in the European region is another lucrative market on the global platform. Increasing uptake of infusion pumps for the treatments of rising numbers of diabetic population and focus on using stem cell-derived human islets as a possible cure for type 1 diabetes, drive the regional market growth, commutatively. Besides, availability of funds from the public and private bodies to drive the research and development activities in biotechnology are expected to boost the market growth in the region.

The Asia Pacific infusion pump market size is estimated to register a CAGR of 5.4% throughout the assessment period (2017-2023). The region Factors, such as the presence of proliferating healthcare sector and the improving economy and disposable income per individual are substantiating the growth of the regional market.

Global Infusion Pump Market Competitive Landscape:

Fiercely competitive, the infusion pump market appears to be highly fragmented, characterized by the presence of several well-established players. These players increasingly seek a substantially large revenue and market expansion through various strategic initiatives, such as mergers & acquisitions, collaboration, and product launch. They also invest colossally in research & development activities to innovate and develop a cost-effective product portfolio.

Players operating in the infusion pump markets are increasingly focusing on optimizing situational awareness for customers to ensure their mission success. They possess state-of-art developing labs and strong sales & distribution network, which can help them to gain a leadership position in the market.

Major Players:

Players leading the global infusion pump market, include B. BRAUN MELSUNGEN AG, 3M, Baxter, Fresenius Kabi AG, Becton, Dickinson and Company, ICU Medical, Inc, Terumo Medical Corporation, Zyno Medical and Smiths Medical, among others.

Drivers and Impact:

• Growing Demand from Key Applications and Potential Industries
• Rising Demand from Key Regions
• Intensity of Rivalry
• Infusion Pump Market Challenges and Impact
• Infusion Pump Market Trends and Key Opportunities

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Industry/ Innovation/ Related News

August 29, 2019 – Eitan Group (Israel), a global leader in advanced infusion therapy solutions across the care continuum, announced its partnership with InfuSystem Holdings, Inc. (INFU – the US), a leading provider of infusion pumps & related services for the healthcare industry in North America. The companies would work together to offer improved repair services to Eitan Group’s suite of infusion systems, including its flagship Sapphire infusion system. The partnership deal is expected to significantly shorten the time it takes to repair Sapphire Infusion Pumps while reducing costs to the end-user at the same time.

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The increasing prevalence of chronic diseases along with the rapid growth in the geriatric population, growing use of ambulatory infusion pumps in home care settings, and growing number of surgical procedures are some of the key factors driving the growth of the infusion pumps market.

The global Infusion Pump Market is expected to grow to reach USD 16.8 billion by 2027 from USD 12.6 billion in 2019, at a CAGR of 6.0% during the forecast period.

On the basis of products, the accessories/consumables segment accounted for the largest share of the infusion pumps market in 2018. This can be attributed to the recurrent use of accessories/consumables during infusion therapy for the management of chronic diseases. The accessories/consumables segment is further segmented into dedicated accessories/consumables and non-dedicated accessories/consumables. Dedicated accessories/consumables for infusion pumps accounted for the largest share of the infusion pump accessories/consumables market in 2018.

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The infusion pump devices segment includes volumetric infusion pumps, syringe infusion pumps, insulin infusion pumps, ambulatory infusion pumps, enteral infusion pumps, patient-controlled analgesia infusion pumps, and implantable infusion pumps. The insulin infusion pumps is expected to grow at the highest CAGR, owing to its wide applications for delivering large volumes of fluids to patients at predetermined medium-to-high flow rates. These devices are useful for almost all areas of healthcare and are widely used for IVs.

Based on applications, the infusion pumps market is segmented into chemotherapy/oncology, diabetes, gastroenterology, analgesia/pain management, pediatrics/neonatology, hematology, and other applications. Other applications include infectious diseases, autoimmune diseases, and diseases of the heart, kidney, lung, and liver. The chemotherapy/oncology segment accounted for the largest share of the global infusion pumps market in 2018.

Based on end users, the market is segmented into hospitals, health care settings, ambulatory care settings, and academic and research institutes. In 2018, the hospitals accounted for the largest share.

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Regional Analysis:- 

North America accounted for the largest share of the infusion pumps market in 2018, followed by Europe. This is mainly due to the increasing prevalence of chronic diseases, growing demand for advanced medical treatment, and growing healthcare market in the region. The growing demand for premium-priced infusion pump systems, to improve the quality of care for patients, is expected to play a key role in the growth of the infusion pumps market in North America in the coming years.

Top Key players:-

The prominent players in the infusion pumps market are Becton, Dickinson and Company (US), Baxter (US), ICU Medical (US), B. Braun (Germany), Fresenius Kabi (Germany), Medtronic (Ireland), Smiths Medical (US), Terumo Corporation (Japan), Moog (US), Roche Diagnostics (Switzerland), Halyard Health (US), Mindray Medical (China), Micrel Medical (Greece), and Insulet Corporation (US).