(PRWEB) April 25, 2014
The “Infusion Pumps and Accessories Market by Product (Volumetric, Syringe, Enteral, Insulin, Implantable, PCA Pump), Application (Diabetes, Chemotherapy, Nutrition, Pain Management), by End-user (Hospital, Home Healthcare) - Global Forecasts to 2018” analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Browse 179 market data tables, 44 figures spread through 370 pages and in-depth TOC on “Infusion Pumps and Accessories Market”
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This report studies the global infusion pumps and accessories market, with forecast to 2018. The market was valued at $7,143 million in 2013 and is expected to grow at a CAGR of 5.7% from 2013 to 2018. The global infusion pumps and accessories market is segmented by product type, application, end user, and geography.
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The infusion pumps and accessories market has experienced moderate growth in the past few years. Factors that are expected to boost the market growth include the rising demand for disease management devices for the increasing number of patients with chronic diseases and the enhanced use of infusion devices in the home care segment.
However, safety issues arising from the errors associated with the use of infusion pumps and stringent regulatory requirements for the development of new products may restrain the growth of infusion pumps and accessories market to a certain extent.
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Infusion accessories are expected to grow with a higher CAGR than infusion devices (pumps). The demand for accessories for new as well as for already-installed infusion devices will support this high growth. The insulin infusion devices (pumps) segment is expected to grow at a higher CAGR of 8.5% from 2013 to 2018. This is primarily due to the increasing prevalence of diabetes and increasing acceptance for new insulin infusion devices enabling their home care use. Also, the increasing application of infusion devices in pain management and implantable deliveries is estimated to drive the growth of these segments at a higher CAGR from 2013 to 2018. Therefore, these are lucrative market segments for infusion pumps manufacturers to invest in.
It also discusses the key market drivers, restraints, and opportunities of this market and its submarkets. North America was a major market for infusion pumps and accessories with a market share of 40-45% of the global market in 2013, followed by Europe and the Asia-Pacific region. The government initiatives for better healthcare system and increasing awareness about healthcare in the developing economies will offer significant growth potential for the infusion pumps and accessories market in these regions.
The key strategies followed by most companies in the global infusion pumps and accessories market in 2011 and 2013 were new product launches, expansions, mergers and acquisitions, and partnerships and agreements.
In this market, the top players face strong competition to maintain their leading positions. In order to uphold the respective shares in the market, many players in this market aim to either diversify their product portfolios or expand their geographic presence. While organic expansions have been followed by some companies, a majority of the top players have adopted mergers and acquisitions as their key growth strategy.
The prominent companies in the market are B. Braun Melsungen AG (Germany), Baxter International Inc. (U.S.), CareFusion Corporation (U.S.), Fresenius SE & Co. KGaA (Germany), Hospira, Inc. (U.S.), Smiths Medical (U.S.), and Terumo Corporation (Japan).
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