Drug Infusion System Market Scenario
The global drug infusion system market is presumed to demonstrate a healthy growth rate during the appraisal period (2018-2023) owing to the adoption of technologically advanced devices, asserts Market Research Future (MRFR). Drug infusion systems are referred to as medical devices which allow infusion of drugs such as chemotherapy drugs, antibiotics, painkillers, insulin, and others in a controlled manner. The market is likely to experience rapid growth due to the rising prevalence of chronic diseases.
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Drivers and Constraints Impacting the Market
With the rising prevalence of chronic diseases such as stroke, cardiovascular disease, type 2 diabetes, cancer, arthritis, and obesity, the global market for drug infusion system is flourishing during the assessment period. The growing geriatric population, rising spending on healthcare, and adoption of technologically advanced devices are considered to contribute to the global drug infusion system market. Moreover, drug infusion systems are portable, easy to use, and possesses visual monitoring features and ergonomic design. Such features are presumed to influence the global market in the coming years.
On the flip side, strict government mandates and regulations for product approval is estimated to impede the market growth. Moreover, shortage of skilled labor and the high cost of drug infusion system are some of the major concerns impeding the market growth during the review period.
Global Drug Infusion System Market: Segmental Analysis
The global drug infusion system market has been segmented on the basis of product type, application, mode of administration, end-user, and region.
By mode of product type, the global drug infusion system market has been segmented into disposable infusion system, elastomeric infusion system, peristaltic pump, syringe infusion system, Patient-Controlled Analgesia (PCA) pump, multi-channel pump, implantable infusion system, and insulin pump.
By mode of application, the global drug infusion system market has been segmented into diabetes, oncology/chemotherapy, nutrition, analgesia, pediatrics, hematology, and others.
By mode of administration, the global drug infusion system market has been segmented into subcutaneous, intravenous, epidural, arterial, and others.
By mode of end-users, the global drug infusion system market has been segmented into ambulatory surgical centers, hospitals, diagnostic centers, and others.
Geographically, the drug infusion system market span across regions namely, Europe, Americas, Asia Pacific, and the Middle East and Africa.
Among all the regions, the North American region is presumed to dominate the global drug infusion system market due to the increasing prevalence of chronic diseases in this region. For instance, as per the Heart Disease and Stroke Statistics 2018, around 836,546 deaths occurred in the U.S. due to cardiovascular diseases.
Europe holds the second position in the market and is likely to maintain its dominance in the coming years. The growth is attributed to the growing incidences of chronic diseases, increasing healthcare activities, and growing expenditure on healthcare in this region. For instance, as per the Organization for Economic Co-operation and Development, around 550,000 of the working‑age people in 2016, died due to chronic diseases in the European Union countries.
Meanwhile, the Middle East and Africa are considered to hold the least share in the market owing to the presence of poor economies coupled with strict government policies.
November 07, 2018: NantHealth NH, a leader in breakthrough cancer research and solutions has recently announced a collaboration with GE Healthcare, B. Braun Australia, and iProcedures to demonstrate the exchange of data between devices and patient electronic medical records. The demonstration illustrates how clinicians can spend more time analyzing data and less time on documentation in near real-time to improve patient outcomes.
The prominent players operating the global drug infusion system market are Arcomed AG, Becton Dickinson and Company, Tandem Diabetes Care, Baxter, Insulet Corporation, IRadimed Corporation, Debiotech S.A., MOOG INC., Medtronic, ICU Medical Inc, Halyard Health Inc, Fresenius SE & Co. KGaA, Terumo Corporation, B. Braun Melsungen AG, Smiths Group plc, and others.
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