DUBLIN--(BUSINESS WIRE)--The "Global Infusion Therapy Devices Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The infusion therapy devices market will register a CAGR of 6% by 2023.
The growing number of surgical process is one of the critical factors that will trigger the growth of the infusion therapy devices market. Surgical procedures comprise manual and instrumental medical intervention, which are usually performed in ASCs and hospital clinical settings under anesthesia and with the aid of respiratory devices. Surgical procedures can be performed either in inpatient or outpatient settings.
The growing number of outpatient and ambulatory surgeries and the increasing number of people with diseases such as cancer contribute to the growth of the global infusion therapy devices market. Infusion therapy devices are an important therapeutic tool to deliver medications continuously in critical care and pain management situations. The number of surgical procedures performed every year worldwide has increased over the last decade due to the rising prevalence of several diseases. Thus, the increase in the number of surgical procedures during the forecast period will drive the growth of the global infusion therapy devices market during the forecast period.
Growing aged population and chronic disease prevalence
The increasing life expectancy among people and the prevalence of chronic diseases such as diabetes, cardiovascular, kidney disease, and cancer are contributing to the demand or infusion therapy devices. The number of people with chronic diseases is increasing owing to the sedentary lifestyle, environmental issues, alcohol consumption, lack of physical activity, smoking, and unhealthy eating habits.
The aging of the baby boomer generation and increasing prevalence of chronic diseases make the early diagnosis of diseases and the regular monitoring of patients essential to identify, treat, control, and limit the incidence of diseases. Thus, there is a high demand for infusion pumps to provide continuous medication and blood components for critically ill chronic patients. Therefore, the increasing aging of the population and the prevalence of chronic diseases drive the demand for global infusion therapy devices.
High cost of infusion therapy devices
The high cost of infusion therapy devices is one of the major concerns as most patients are unable to afford these devices. With the advances in infusion therapy devices, the cost of devices and treatment is also increasing. The cost includes physician fees, the type of infusion therapy device used, availability of inbuilt features like dose-error reduction software (DERS), and the amount reimbursed for such devices by Mediclaim. The high initial cost of infusion therapy devices, as well as their steep maintenance costs, make them inaccessible and unaffordable in hospitals and primary healthcare centers. Considering all these factors, this is expected to have an adverse impact on the market during the forecast period.
The market appears to be moderately fragmented. The presence of several companies, including B. Braun Melsungen AG and Becton Dickinson and Co. makes the competitive environment quite intense. Factors such as the growing aged population and chronic illness prevalence and the increasing number of surgical procedures will provide significant growth opportunities to infusion therapy devices manufacturers.
F. Hoffmann-La Roche Ltd., Fresenius Kabi AG, ICU Medical Inc., Medtronic, and Terumo Corp. are some of the major companies covered in this report.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Accessories and consumables - Market size and forecast 2018-2023
- Pumps - Market size and forecast 2018-2023
- Market opportunity by product
PART 07: MARKET SEGMENTATION BY INFUSION TYPE
- Market segmentation by infusion type
- Comparison by infusion type
- Continuous infusion - Market size and forecast 2018-2023
- Intermittent infusion - Market size and forecast 2018-2023
- Infusion-on-demand - Market size and forecast 2018-2023
- Total parenteral infusion - Market size and forecast 2018-2023
- Market opportunity by infusion type
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- Asia - Market size and forecast 2018-2023
- ROW - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Emergence of smart infusion therapy devices
- Technological advances
- Increasing consumer preference for disposable infusion pumps
PART 13: VENDOR LANDSCAPE
- Landscape disruption
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- B. Braun Melsungen AG
- Becton Dickinson and Co.
- F. Hoffmann-La Roche Ltd.
- Fresenius Kabi AG
- ICU Medical Inc.
- Terumo Corp.
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