(PRWEB) December 24, 2004
As health care facilities around the globe deal with growing pressures to reduce hospital costs, the demand for electronic ambulatory infusion devices continues to grow. Electronic ambulatory infusion devices are lightweight, compact pumps that can be readily worn and allow the patient to remain mobile during infusion and continue with therapy outside the hospital setting. This effectively shortens the duration of a patientÂs hospital stay, thereby reducing healthcare costs. According to a new report series by Millennium Research Group, the benefits of electronic ambulatory infusion device market (excluding disposables) will help the global market grow to nearly $85 million by 2009.
The growing demand for electronic ambulatory infusion devices in the small but fast-growing German market will be one of the major drivers of the global electronic ambulatory infusion market. In Germany, the introduction of the Diagnosis Related Group systemÂa case-based reimbursement systemÂand the growing popularity of 23-hour stay surgery are key factors contributing to the accelerated market growth. The concept of 23-hour stay surgery is that patients come into the hospital for their procedures and go home the same day. This, along with an aging population in need of infusion therapy, will boost German electronic ambulatory infusion device sales. As a result of these dynamic market forces, growth in the German market will far outstrip the other regions, thereby contributing to global market growth.
Compared to Germany, the French, and U.K markets will experience comparatively slower device demand due to competition from disposable ambulatory infusion devices. Even in the U.S, market growth will be appreciably slow mainly due to alternate care center market saturation by multitherapy devices. Additionally, there is a lack of reimbursement and incentives for the use of electronic ambulatory infusion devices in the home infusion segment.
MRGÂs Global Electronic Ambulatory Infusion Devices 2004 report includes an analysis of the US and European markets including key competitors. The series covers close to 20 competitors including Abbott Laboratories (ABT), Aguettant, Baxter International Inc. (BAX), B. Braun, i-Flow Corporation, LogoMed, McKinley Medical, Tyco Healthcare (TYC), and Smiths Medical.
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
Millennium Research Group Inc.,
(416) 364-7776 ext. 145
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