U.S. Product Recalls Creates Opportunities in the Infusion Therapy Device Market
Vancouver, BC (PRWEB) March 24, 2015 -- Vancouver, BC – According to a recently published report by iData Research (http://www.idataresearch.com), the infusion therapy device market was disrupted by product recalls affecting a significant proportion of installed base units. However, newer premium-priced pumps incorporate additional features, such as wireless capabilities and access to drug libraries and electronic medical records. These features help ensure patient safety and assist medical practitioners to administer the correct dosage and medication.
“The infusion therapy device market in the U.S. is saturated,” explains Dr. Kamran Zamanian, CEO of iData. “Given the structure of the market, it can be very difficult for one company to surpass another in terms of market share. The installed base of infusion pumps has a large impact on sales of the disposables needed to use them.”
Infusion pump replacement rates have increased over the past few years as a result of product recalls. Pumps have among the highest recall rates of all medical devices. Manufacturers and practitioners have been focusing on improvements to existing systems that attempt to minimize user errors. Companies are anticipated to see more sales of premium-priced systems.
Leading Competitors
CareFusion led the large volume infusion pump market with a nearly 50% install base in 2014. They have benefited from several product recalls in the infusion pump market, and several strategic acquisitions of companies with complementary product lines. The company is projected to gain market share over the coming years.
Baxter International has had several infusion pump product recalls, which resulted in a loss of infusion pump market share. However, due to their large install base and brand name recognition across the U.S., they have been able to maintain a leading position in the IV set market, despite recalls in the infusion pump market.
Other companies included in the iData market share analysis were Hospira, B. Braun, ICU Medical, Smiths Medical, among others.
For Further Information
More on the markets for infusion therapy devices in the U.S. can be found in this 2015 edition report published by iData entitled U.S. Market for Infusion Therapy Devices, which covers the U.S. as a whole, as well as market segments for large volume, syringe, patient-controlled analgesia, electronic ambulatory, and disposable ambulatory infusion pumps; primary, secondary and extension IV sets; and split septum, blunt cannula, and mechanical valve needleless connectors.
The iData series on the market for infusion therapy devices also covers the U.S., Australia, Japan, South Korea, and 15 countries in Europe. Full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
Register online or email us at info(AT)idataresearch.net for an U.S. Market for Infusion Therapy Devices report brochure and synopsis.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.
Marvin Cidamon, iData Research, http://www.idataresearch.com/, +1 (604) 266-6933 Ext: 205, [email protected]
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