New York City, New York, Nov. 27, 2017 (GLOBE NEWSWIRE) -- A recently added report by Persistence Market Research (PMI), titled, “Global Market Study on Next-generation IV Infusion Pumps: Large Volumetric Infusion Systems Product Type Segment to Lead in Terms of Market Share During 2017 - 2025,” throws light on important aspects of the market. It offers information on the size, competitive dynamics and growth drivers in the market by factoring in macro-economic metrics and development in the regulatory environment.
As per the report, the global market for next-generation IV infusion pumps will likely rise at a steady CAGR of 5.4% over the course of the forecast period from 2017 to 2025. At this rate, the market valued at US$2 bn in 2016, is predicted to become worth US$3.2 bn in 2025. Placing the market on a steady growth trajectory are rising occurrence of diabetes, cancer, and obesity worldwide. Apart from that, safety and efficiency of next-generation IV infusion pumps that helps to bring down medication errors, possibility of home use, and a user-friendly, hassle free operational platform is also benefitting the market. Deterring their swift uptake of next-generation IV infusion pumps, on the flipside, is their steep price and substantial installation time.
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The different types of products in the next-generation IV infusion pumps market are large volumetric infusion system, patient controlled analgesia pumps, MRI compatible IV infusion systems, syringe infusion systems, disposable elastomeric infusion systems, electronic ambulatory infusion systems, IV disposables, and implantable infusion systems. Of them, the large volumetric infusion systems are projected to grow their market share at a healthy clip in the years ahead. According to the findings of the authors of the report, the segment will likely clock a CAGR of 6.2% in the forecast period to pull in a revenue to the tune of US$1.1 bn by the end of 2025. Currently, the large volumetric infusion systems lead the market in terms of share.
The electronic-ambulatory infusion systems follow in the second position in terms of market share in the global next-generation IV infusion pumps market. It is predicted to rise at a solid CAGR of 7.0% between 2017 and 2025. In terms of growth rate, the segment of MRI-compatible infusion systems will likely surpass all others by registering a robust 8.3% CAGR in the forecast period. However, the segment recorded a low market valuation in 2016, and is estimated to reach US$ 58.3 mn by 2025.
Next-generation IV infusion pumps find application in chemotherapy, pain management, antibiotic management, etc. Some of their end-users are homecare settings, hospitals, ambulatory surgical centers, diagnostics centers, etc.
From a geographical standpoint, Asia Pacific is predicted to outshine all other regions in terms of growth rate. Serving to drive the market in the region is the relatively reduced set up costs and abundant availability of cheap labor. This region is more suited for large volumetric infusion systems, which are primarily at the forefront of driving growth of next-generation IV infusion pumps market in Asia Pacific. In terms of value, on the other hand, North America is expected to dominate the next-generation IV infusion pumps market. The MRI-compatible infusion systems are expected to see soaring sales in the region. The market in Europe, on the other hand, is driven by sales of disposable elastomeric infusion systems.
Key players in the global next-generation IV infusion pumps market are B. Braun Melsungen AG., Dickinson Company, Becton, Medtronic Plc., Fresenius Kabi AG, Terumo Corporation, Baxter International Inc., Hospira, Inc., Zyno Medical, Nipro Corporation, Summit Medical Products, Inc., vTitan, and Gamastech s.r.l.
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