Gravity infusion is still ubiquitous in healthcare worldwide. Infusion rate monitoring provides a wireless connectivity of continuously monitored infusion drips. The technology is new and replaces the present infusion pumps for infusion therapy. Infusion rate monitoring is done by a hand held device fixed to the dripping set. Infusion rate monitoring is the best alternative present for infusion pumps, the product is durable, affordable and smaller as compare to traditional infusion pumps. Infusion rate monitoring is 99% accurate as a drip counter, it is faster than a traditional infusion pump. It can withstand harsh condition with precise results, infusion rate monitoring does not require any sort of calibration and maintenance which makes it a rather convenient alternative.
Infusion rate monitoring Market: Drivers and Restraints
Infusion rate monitoring is growing in terms of adoption, the present use of infusion rate monitoring is visible is healthcare settings like hospitals. The main attractive segment for infusion rate monitoring is the outpatient healthcare settings which includes clinics and ambulatory surgical centers. As infusion therapy in general is moving from hospitals towards a more economical solution providers like outpatient centers.
The scenario for delivery systems has changed over the years. Major healthcare and governing bodies offer prime support to patients with chronic diseases, increasing the use and presence of infusion rate monitoring to a greater extent. The prevalent population diagnosed with chronic or acute diseases is considered to be the target. The ease with infusion rate monitoring makes it a fast growing technology with considerable adoption rate. There are research initiatives present for infusion rate monitoring, the market structure for now only consists of one significant player. The market expansion is also in relation with the comparatively easy regulation pattern for medical devices.
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Infusion rate monitoring Market: Overview
The global market for infusion rate monitoring would expand with the emergence of new manufacturers and better technological advances. Though, the current structure of the market only include DripAssist from Shift Labs, Inc. the product received FDA approval in 2015, it is the only type of infusion rate monitoring device present. The company announced the expansion of their patent portfolio which now covers data capturing ability. In 2017, the company received CE mark, following this agreement the product can be distributed across Europe. The product also comes in a variant for veterinary use which expands the target population.
Infusion rate monitoring Market: Regional Wise Outlook
Geographically, the infusion rate monitoring market is segmented into seven regions viz. Europe, North America, Latin America, Oceania, South Asia, East Asia and Middle East and Africa. The Europe Infusion rate monitoring market is a lucrative market opportunity for manufacturers, with present infrastructure promoting better drug delivery systems in Europe makes it rather profitable business space. North America region has its own significant share in the infusion rate monitoring market, being the first region where infusion rate monitoring is offered it shows a significant increment over the period of forecast. Infusion rate monitoring is still not approved in many countries outside North America and Europe. Once the approval to use such technology is passed, regions like East Asia and South Asia will be the most attractive segments in terms of growth rate.
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The only player involved in this market of infusion rate monitoring is Shift Labs, Inc. The present market structure of infusion rate monitoring is expected to change with efforts and research present in clinical phase.
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