Market Leader - Infusion Pump Market

Posted April 19, 2022 by snehalshaha

The infusion pump market is expected to reach USD 20.5 Billion by 2026 from an estimated USD 13.2 Billion in 2021, at a CAGR of 9.3%.
The increasing incidence of chronic diseases along with the rapid growth of the geriatric population, rising demand for ambulatory infusion pumps, and the growing volume of surgical procedures performed across the globe are some of the key factors driving the growth of the infusion pumps market. However, the presence of stringent regulations for new products, medication errors associated with infusion pumps (which have resulted in product recalls), and the increasing adoption of refurbished and rental infusion pumps are expected to restrain the growth of this market during the forecast period.

The infusion pump market is expected to reach USD 20.5 Billion by 2026 from an estimated USD 13.2 Billion in 2021, at a CAGR of 9.3%.

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Becton, Dickinson and Company (US) is the leader in the global infusion pumps market. The company offers a wide range of products, including volumetric pumps, syringe pumps, and PCA pumps, under its market-leading brand-Alaris. The company also provides dedicated disposables and non-dedicated accessories for infusion products.
Over the years, the company has maintained its leading position in the market through continuous innovation and the launch of advanced products. BD consistently improves its product offerings by enabling its infusion products to be ready for data integration with other allied products. BD also collaborates with universities, medical centers, and other entities to conduct R&D programs to support its efforts in specialized fields. The company’s R&D expenditure during 2020, 2019, and 2018 was estimated at USD 1,096.0 million, USD 1,062.0 million, and USD 1,004.0 million, respectively.

Baxter International, Inc. (US) held the second position in the infusion pump market in 2020. The company has one global business unit (GBU), which is sub segmented into Renal Care, Medication Delivery, Pharmaceuticals, Clinical Nutrition, Advanced Surgery, Acute Therapies, and Others. The company offers infusion pumps and related accessories through the Medication Delivery segment. The company has distribution and production facilities in more than 20 countries and markets its products in more than 100 countries.

Baxter’s leadership in the market can be attributed to its efficient sales network and expansion strategies in the US, Europe, and Asia. The company focuses on integrating its infusion pumps with hospital networking systems to improve the quality of care and reduce medication errors. In this regard, in September 2017, the company launched the DeviceVue Advanced Asset Tracking System for its Sigma Spectrum Infusion System, which enables clinicians and biomedical engineers to find unused pumps quickly by displaying the location and status of every pump. The company’s R&D expenditures were USD 521.0 million in 2020, USD 595.0 million in 2019, and USD 654.0 million in 2018.

B. Braun (Germany) held the third position in the global infusion pumps market in 2020. B. Braun offers a wide range of infusion pumps and accessories. Over the years, the company has gained a greater market share through significant investments in expanding its geographic reach. For instance, in April 2018, the company opened five new medical production facilities in Penang, Malaysia. These new facilities will manufacture medical devices for infusion therapy, pharmaceutical solutions, and surgical instruments to treat patients in Malaysia and across the globe.

B. Braun has a strong presence in about 64 countries across North America, Europe, the Asia Pacific, Africa, the Middle East, and Latin America. It has 262 consolidated companies across the globe. The firm’s major manufacturing sites are in Germany, Brazil, China, France, India, Malaysia, Poland, Switzerland, Spain, and Hungary.

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The company focuses on integrating its infusion pumps with EHRs. In this regard, in October 2019, B. Braun collaborated with STANLEY Healthcare (US) to integrate and deploy its Space Infusion Pump Systems along with DoseTrac Infusion Management Software with STANLEY Healthcare’s MobileView software- Aeroscout RTLS MobileView, at Saratoga Hospital, located in New York, US, to provide real-time pump status data. Similarly, in August 2019, B. Braun collaborated with Epic Systems Corporation (US) to integrate B. Braun’s Infusomat Space Large-volume Pumps with Epic’s electronic health record (EHR) platform at Prime Healthcare – Huntington Beach Hospital, located in California, US.

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Issued By snehals
Country United States
Categories Biotech , Business , Health
Tags infusion pump market
Last Updated April 19, 2022