Table of Contents
Interoperable Smart Pumps to Assure the Growth of Original Equipment Manufacturers
This research service considers various infusion pump technology and companies in the US infusion pumps market. The market will be impacted by legislation and initiatives that are being implemented by the government to improve overall healthcare. A thorough analysis of revenue forecasts, unit forecasts, technological advances, and pricing are provided for the following segments: volumetric pumps, syringe pumps, ambulatory pumps, enteral pumps, and insulin pumps. Market engineering measurements, drivers, and restraints are covered along with an analysis of the market’s competitive landscape. The base year is 2012, and the forecast period is 2013–2019.
•The Infusion pumps market in the United States will continue to grow from approximately $X billion in 2012 to approximately $Xbillion by 2019, at a compound annual growth rate (CAGR) of X%.
•The market is forecasted to grow due to an increase in technology innovations, a high prevalence of chronic diseases, increased focus on patient safety, and favourable reimbursements in the US market.
•In 2012, more than Xvendors were actively offering infusion pumps in the United States. The US infusion pumps market is mature, and no new products in the pipeline will likely reach the market within the next X to X years.
•Insulin pumps and disposable ambulatory pumps are the fastest growing segments, and growth in unit shipments in these segments is expected from new pumps.
•Growth from other segments, including volumetric pumps, syringe pumps, and enteral pumps, will be modest because of the replacement of a large, existing installed base of Infusion pumps that is mainly driven by an aging population.
•Competitors that contributed the highest proportions of revenue in the US infusion pumps market were Carefusion Corporation; Hospira, Inc.; B. Braun Medical Inc.; Baxter; and Fresenius Kabi AG. Together, these 5 competitors generated 76% of total market revenue.
•Because of the alarming increase of infusion errors, the US government has imposed reimbursement restrictions on infusion pumps, and this market will be strongly impacted by initiatives executed by the US government to improve the overall healthcare costs.
•Technology innovation and product differentiation will likely play a major role for industry participants when competing for market shares.
•Pain management pumps such as electronic ambulatory pumps and high-end syringe pumps will likely experience high growth during the forecast period because of incentives and penalties imposed by the Centers for Medicare & Medicaid Services (CMS) on several hospitals across the United States.
•Effective pain management therapies reduce hospital stays and their associated costs as well as improves overall patient outcomes and patient satisfaction scores/ Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) scores.
1. An increase in homecare and alternate care sites will aid market growth.
2. The insulin and ambulatory pumps segments will continue to experience high growth from the rising prevalence of chronic diseases in the United States.
3. The smart pumps market is ripe for interoperability, with more than half of US hospitals currently using smart pumps.
4. Replacement business and annual contracts after sales support will drive the volumetric, syringe, and enteral pumps segments.
5. The US infusion pumps market will likely provide significant growth opportunities for rental/leasing companies and companies that sell refurbished products.
•Infusion therapy refers to the process of administering liquid substances intravenously, subcutaneously, or through an epidural, which can be intermittent or continuous.
•The infusion pumps market is a fairly mature market that has substantial pricing pressures due to technology, reimbursement spending, third-party distribution structures, increased competition, and product recalls. Technological developments and expansion into new indications such as Parkinson’s disease, Alzheimer’s, multiple sclerosis, or pain management will likely create opportunities for growth.
•The infusion pumps market has been plagued by several device errors, resulting in numerous recalls. There has been a concerted effort by the US, Canadian, and European governments to address this issue and to find solutions.
•Various technologies used to deliver medications include volumetric, syringe, ambulatory, enteral, and insulin pumps. The use of infusion pumps as a drug delivery system has been increasing.
•Common infusion therapies include cancer therapy, administration of antibiotics, blood volume replacement, and enteral and parenteral nutrition.
•Ambulatory pumps and insulin pumps are the fastest growing segments in the infusion pumps market.
•Recalls concerning product safety and efficacy create a stigma that is detrimental to product adoption. Actively recalling defective products and implementing standard protocols to redesign and remove affected issues will enhance the pump adoption rate.
•Certain markets such as ambulatory pumps and insulin pumps are poised for significant growth, and an increase in demand could positively impact the overall growth of the infusion pumps market.
Scope and Segmentation
•This research service provides an infusion pumps market overview, market engineering measurements, and revenue forecast (including revenue forecast by vertical markets) and trends in the United States.
•The US infusion pumps market consists of general infusion pumps and specialty infusion pumps as well as their respective accessories.
Revenue is represented in US dollars. Revenue defined for each segment was calculated based on number of unit shipments and average selling price (ASP).
Revenue pertaining to manufacturing companies was obtained from companies’ annual reports and financial statements.
In the unit shipment forecast, unit refers to a infusion system with respect to the individual segment for the year indicated.
Growth in unit shipments is expected from the new implant business; However, such growth will also be influenced by the replacement business during the forecast period.
ASP is based on the prices of various infusion pumps listed by the respective pump manufacturers.
Key Questions This Study Will Answer
• Is the Infusion pumps market growing, how long will it continue to grow, and at what rate? What is the future potential of the market?
• What are the key drivers and trends that lead to growth opportunities? What are the key challenges faced by the pump manufacturers?
• What is the impact of pump recalls and what strategies are being employed by competitors to capitalize on the recalls to retain the market share?
• Which are the most promising segments for manufacturing companies to venture into? Who are the key market participants in each segment?
• What market predictions for the forecast period will likely affect manufactures in the infusion pumps and accessories market?
• What are the trends in use and technology, and is there a shift towards any particular product segment? What are the demand-supply gaps from the end-user analysis?
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