2014-02-27 00:02:04 - Infusion Pumps: Technology and Market 2013-2023 - a new market research report on companiesandmarkets.com
The global infusion pumps market will reach $9.8bn in 2017. The infusion pumps market will grow steadily to 2023. The future of the infusion pumps market appears promising. There is significant potential for growth and investment, driven by the increasing demand for safer and cost-effective technologies.
The infusion pumps market is diverse in its technologies and its geographic distribution. The market is intensely competitive, with industry leaders retaining market share through continuous product innovation and aggressive pricing, while smaller players resort to product building in a bid to sustain revenues. Despite the market being dominated by a few large manufacturers, there are several small companies manufacturing niche and innovative products. Each company has employed unique market and positioning strategies in an
effort to increase their market share in the global market place.
The infusion pumps market is subject to rapid technological change and product innovation. Recent technological developments show great promise in making infusion pumps accessible to a wider range of patients, particularly wireless ´smart´ pumps. Innovation efforts in this market have been focused on developing devices with advanced and practically useful features.
The market will continue to be driven by patient demographics and the introduction of innovative technologies in the coming years. This is clearly evidenced by the myriad of devices reported to be in development and awaiting regulatory authorisation. The market will also experience increasing demand for technologies in the homecare sector. As the market evolves and novel pumps become available, an increasing number of patients will receive their care at home. This will reduce the frequency of hospital visits and help save costs.
In recent years, the infusion pumps market has been restrained by several high profile recalls and safety concerns. High profile recalls in the US have raised concerns in the global market, preventing the market from achieving its full growth potential. However, regulatory authorities are now actively promoting improved regulation of infusion pumps, helping to maintain and deliver safety standards.
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