Infusion Pumps and Devices: Technologies and Global Markets - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-04 19:09:02
The global infusion pumps market was valued at $17.8 billion in 2012 and is expected to reach $18.7 billion in 2013. It is projected that the market will grow to $23.7 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 4.8% from 2013 to 2018.
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.
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.
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