To identify growth opportunities. the infusion therapy devices market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. Asia and North America will grow faster than the overall market. The market growth of Europe and ROW will be slower than the global market.
Some of the key findings from our infusion therapymarket forecast report are summarized below
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The growing prevalence of chronic diseases such as cancer is driving the need for home-based treatment. This is increasing the demand for medical devices such as infusion therapy devices that facilitate safe, accurate and precise drug delivery based on the patient’s requirement. Moreover, the wireless and remote programming capabilities in homecare infusion pumps allow physicians and pharmacists to regulate the medication dosage parameters, which helps in reducing hospital visits. Because of such benefits, there is a growing demand for these devices in home care settings, which will subsequently drive the growth of the global infusion therapy devices market.
Smart infusion therapy devices help eliminate errors caused by incorrect administration of medication. These devices can be programmed and managed by the hospital pharmacy department with inputs from the pharmacy and the therapeutics committee. Advancements have also led to the development of wireless smart therapy devices which can be remotely monitored. These wireless smart therapy devices enable bi-directional communication between the server and the pump. This facilitates the remote transfer of hospital-specific drug libraries as well as other configuration parameters to pumps. The emergence of such smart infusion therapy devices is one of the key trends that will drive infusion therapy devices market growth at a CAGR of about 6% during 2019-2023.
Top companies covered in the infusion therapy devices market research report
The global infusion therapy devices market is fairly fragmented. To help clients improve their market position, the report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, the market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several infusion therapy devices companies, including:
B. Braun Melsungen AG
Becton Dickinson and Co.
F. Hoffmann-La Roche Ltd.
Fresenius Kabi AG
ICU Medical Inc.
Infusion therapy devices market segmentation based on product
Accessories and consumables
Accessories and consumables are generally purchased in bulk by hospitals and group purchasing organizations (GPOs) to achieve cost-savings. These products are used with infusion therapy devices to improve the overall efficiency of the devices and are frequently replaced. As a result of these factors, the accessories and consumables segment will account for the largest global infusion therapy devices market share.
Infusion therapy devices market segmentation based on geography
North America will offer maximum growth opportunities to companies in the global infusion therapy devices market throughout the forecast period. The presence of well-established healthcare infrastructure and the availability of skilled professionals and reimbursement schemes are contributing to the growth of the market in the region. Moreover, the increasing R&D expenditure by regional vendors will also drive the market growth in the region.
Key highlights of the global infusion therapy devices market report for the forecast period 2019-2023
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the infusion therapy devices market during the next five years
Precise estimation of the global infusion therapy devices market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the industry across Asia, Europe, North America, and ROW
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details of factors that will challenge the growth of the companies
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