R&D Spending, Emerging Technologies and Innovations, Patent Expiries, and Intense Competition Drive Growth in Infusion Pumps and Devices Market
Wellesley, MA (PRWEB) October 11, 2013 -- Infusion pumps and devices are used to deliver nutrients or medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers into a patient's body. Based on the type of infusion, pumps and devices can be classified as either general or specialty infusion pumps. General pumps and devices are categorized as large volume infusion pumps, ambulatory and disposable pumps, syringe infusion, and chemotherapy pumps. Specialty infusion pumps and devices are used during the treatment of diabetes, analgesics, oncology, blood disorders and nutrition. Smart pump systems, the latest innovation in the specialty market, are endowed with software that can alert users to potential errors.
According to a new technical market research report, Infusion Pumps and Devices: Technologies and Global Markets from BCC Research (http://www.bccresearch.com), the global market for infusion pumps and devices was valued at $17.8 billion in 2012 and is expected to reach $18.7 billion in 2013. BCC Research projects the market to grow to $23.7 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 4.8% from 2013 to 2018.
The key objective of this report is to present a comprehensive analysis and future direction of infusion pumps and devices as an important tool to deliver pain medication, chemotherapy drugs, nutrition, etc., effectively.
Extensive research and development (R&D) in the field of infusion pumps and devices has resulted in the development of pumps with the ability to provide therapeutic treatments for various diseases. R&D spending, emerging technologies and innovations, patent expiries, and intense competition will drive growth in this market for the foreseeable future.
This new report from BCC Research provides an overview of the global market for infusion pumps and devices used for continuous or intermittent administration of medications (including antibiotics), nutrients, and analgesics. It also examines the coverage of medical, scientific, technological, social and economic issues associated with this market, and analyzes global market trends, with data from 2011 and 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018. The study also includes revenue break downs by region, type, and end user as well as estimates of sales figures for the year 2013 and 2018.
The scope of this study encompasses infusion pumps and devices in the pharmaceutical and biotechnology and hospital markets. BCC Research analyzes each market and its applications, regulatory environment, technology, market projections and market shares in this report. Applications for infusion pumps and devices are discussed separately in the report, with emphasis on the usage of infusion pumps and devices in therapeutic categories and various disease sectors. In addition, the report covers significant patents and their allotments in each category. Acquisition strategies and collaborations by companies are also covered, as are the strengths of each type and application in light of new technologies, growing competition, and changing customer needs.
This study contributes to the areas of market growth in infusion pumps and devices for manufacturers and users. Hospitals, pharmaceutical biotechnical companies, research institutes, and physicians will also find this study to be of interest.
Steven Cumming, BCC Research, http://www.bccresearch.com, +1 (781) 489-7301 632, [email protected]
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