Enjoy complimentary customisation on priority with our Enterprise License!
The MRI compatible IV infusion pumps market is projected to grow by USD 126.79 million with a CAGR of 7.41% during the forecast period 2021 to 2026.
This MRI compatible IV infusion pumps market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensIVely covers the MRI compatible IV infusion pumps market segmentation by product type (pumps and tubing and disposables) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The MRI compatible IV infusion pumps market report also offers information on several market vendors, including ADOX SA, Arcomed AG, B. Braun SE, Baxter International Inc., Becton Dickinson and Co., Beijing KellyMed Co. Ltd., CODAN ARGUS AG, Digicare Biomedical Technology Inc., Eitan Medical Ltd., Flowonix Medical Inc., Fresenius SE & Co. KGaA, ICU Medical Inc., IRadimed Corp., Medtronic Plc, Nipro Pharma Packaging International NV, Shenzhen Mindray BioMedical Electronics Co. Ltd, Terumo Europe NV, vTitan Corporation Pvt Ltd., and Zyno Medical among others.
Download Report Sample to Unlock the MRI Compatible IV Infusion Pumps Market Size for the Forecast Period and Other Important Statistics
The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges market.
Key MRI Compatible IV Infusion Pumps Market Driver
The increasing prevalence of chronic diseases is one of the key drivers supporting the MRI compatible IV infusion pumps market growth. The increase in the number of cancer cases is contributing to the mortality rate across the world. Patients suffering from cancer need to take analgesics for pain management and chemotherapy agents for treatment. Programmable infusion pumps help in the administration of analgesics and chemotherapy agents in a hospital, clinic, or home care setting. Therefore, the incidence and prevalence of chronic diseases have increased the demand for MRI compatible IV infusion pumps, which, in turn, will propel the growth of the market during the forecast period.
Key MRI Compatible IV Infusion Pumps Market Trend
High growth potential in emerging economies is one of the key MRI compatible IV infusion pumps market trends contributing to market growth. The use of healthcare products and services is increasing as a large proportion of the growing middle-class population in developing countries is gaining access to private medical insurance. Emerging economies have an expanding middle-class population, which demands cost-effective products and services. Although emerging local companies are putting efforts into creating innovative products with local materials at affordable prices, there is still a huge potential for globally established companies to capitalize on these developing markets. Hence, emerging economies display a huge growth potential in the market, which is likely to positively impact the growth of the market during the forecast period.
Key MRI Compatible IV Infusion Pumps Market Challenge
High costs associated with MRI compatible IV infusion pumps are one of the factors hindering the MRI compatible IV infusion pumps market growth. The average cost of syringe pumps is $2,000-$6,000, while the average cost of a patient-controlled infusion pump is generally $1,500-$5,500. The maintenance of MRI compatible IV infusion pumps is crucial to maintain the durability of the device. Moreover, the software used for programming IV infusion pumps is also very expensive. For instance, one-time software licensing fees cost $360,000-$400,000. Thus, the cumulative cost of the IV infusion pump device, along with the software and drugs or nutrients infused, is expensive. Such factors are expected to hamper the growth of the market during the forecast period.
This MRI compatible IV infusion pumps market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global MRI compatible IV infusion pumps market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the MRI compatible IV infusion pumps market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the MRI compatible IV infusion pumps market encompasses successful business strategies deployed by the key vendors. The MRI compatible IV infusion pumps market is fragmented, and the vendors are deploying growth strategies such as price, quality, innovation, reputation, brand identity, and distribution to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this report provides a detailed analysis of several leading Companies.
Our report provides extensive information on the value chain analysis for the MRI compatible IV infusion pumps market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the MRI compatible IV infusion pumps market in North America. Market growth in this region will be slower than the growth of the market in Asia.
The increase in the aging population will facilitate the MRI compatible IV infusion pumps market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 negatively impacted regional market growth. However, the initiation of vaccination drives led to the lifting of lockdown restrictions in the second half of 2020. This resulted in the resumption of operations in clinics and hospitals for the treatment of several diseases, which has increased the demand for MRI compatible IV infusion pumps in the region. Such factors are expected to propel the growth of the market in North America during the forecast period.
To gain further insights on the market contribution of various segments Request a PDF Sample
The MRI compatible IV infusion pumps market share growth in the pumps segment will be significant during the forecast period. Small-volume IV infusion pumps are easy-to-use and portable. Therefore, small-volume IV infusion pumps are mostly used in home-care settings due to their convenience, which is expected to drive the demand for small-volume IV infusion pumps during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the MRI compatible IV infusion pumps market size and actionable market insights on the post-COVID-19 impact on each segment.
MRI Compatible IV Infusion Pumps Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.41% |
Market growth 2022-2026 |
$126.79 million |
Market structure |
Fragmented |
YoY growth (%) |
6.65 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key consumer countries |
US, Canada, Germany, France, and China |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
ADOX SA, Arcomed AG, B. Braun SE, Baxter International Inc., Becton Dickinson and Co., Beijing KellyMed Co. Ltd., CODAN ARGUS AG, Digicare Biomedical Technology Inc., Eitan Medical Ltd., Flowonix Medical Inc., Fresenius SE & Co. KGaA, ICU Medical Inc., IRadimed Corp., Medtronic Plc, Nipro Pharma Packaging International NV, Shenzhen Mindray BioMedical Electronics Co. Ltd, Terumo Europe NV, vTitan Corporation Pvt Ltd., and Zyno Medical |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.