Programmable Infusion Pumps and Catheters Market - Industry Growth, and Analysis, 2018-2026
Advantages offered by programmable infusion pumps over non-programmable infusion pumps is expected to drive the global programmable infusion pumps and catheters market growth during the forecast period. For instance, the use of non-programmable infusion pumps for intravenous infusion is associated with problems such as uncontrolled dosing, possibility of missing dosage of medication, and others.
For instance, according to National Center for Biotechnology Information (NCBI), in a study conducted on intravenous medication administration errors (MAEs) in Ethiopia, from March 2015 to April 2015, out of 134 cases the rate of MAE was reported to be 46%, with missed dosage being the most common error. However, high costs of programmable infusion pumps is expected to restrain global programmable infusion pumps market growth up to certain extent.
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New product launches and therapeutic advantages, such as dose monitoring, offered by programmable infusion pumps over manual counterparts are expected to boost the global programmable infusion pumps and catheters market growth. Moreover, key players in the market are focused on launching new products in order to enhance their market share.
For instance, in 2018, Baxter International Inc., a company involved in innovative technology for medication delivery, received approval for Spectrum IQ Infusion System with Dose IQ Safety Software from U.S. Food and Drug Administration (FDA). Spectrum IQ system is designed specifically for bi-directional electronic medical records (EMR) integration, along with features that assist appropriate dosing of medications to the patient.
Strategic mergers and acquisitions by key players is expected to support the global programmable infusion pumps and catheters market growth. For instance, in April 2017, BD (Becton, Dickinson and Company), a global medical technology company completed the acquisition of Caesarea Medical Electronics (CME), a global manufacturer of infusion pump systems. This merger resulted in expansion of company’s home care, specialty applications, and ambulatory infusion portfolio.
Some of the major players operating in the global programmable infusion pumps and catheters market include, ICU Medical, Inc., Smiths Group plc., Baxter International Inc., Fresenius Se & Co. KGaA, Johnson & Johnson, Medtronic plc., Becton, Dickinson and Company, Terumo Corporation, B. Braun Melsungen AG, and Moog Inc.
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