The rising demand for ambulatory infusion pumps in home care settings, coupled with the increasing incidence of chronic diseases is some of the major factors driving the growth of the market.
The global Infusion Pump Market is forecast to reach USD 20.21 Billion by 2027, according to a new report by Reports and Data. The infusion pump market size is expected to grow because of the growing demand in the medical sector. The rising number of chronic diseases, including diabetes, gastroenterological disorders, and cancer across the world, is expected to drive the market growth. This equipment is used to transfer liquid into a patient's body with accurate and fixed amounts. They are extensively used in hospitals and nursing homes to help the patient in a critical condition. Moreover, the high demand for infusion systems from the defense sector is anticipated to drive market growth.
Infusion pumps can be used for 2 purposes, including portable and stationary. Stationary infusion pumps are primarily driven by the demand from hospitals for the patients. Portable infusion pumps are wearable, and it can be used during traveling, giving it an additional advantage over stationary infusion pumps. The market growth of portable type is expected to escalate, that will minimize overall medical expenditure. However, the rising adoption of rental and refurbished infusion pumps is a major market restraint.
An infusion pump is used by a health expert, who sets the time duration and speed of the transferred liquid using a pre-installed software. The small-volume pumps focus on hormones or medication, and the large volume pumps are used to feed patients. The infusion pump delivers fluids in smaller volumes and at automated intervals, which is not possible through manual administrated fluids. It provides several medications, including pain relievers, antibiotics, insulin, and chemotherapy drugs.
The COVID-19 impact:
With Covid-19 infections increasing across the globe, the apprehensions of the shortage of essential life-saving devices and other necessary medical supplies to provide optimum care to the infected and prevent the spread of this pandemic also widens. Moreover, till treatment is developed, ventilators act as a critical treatment preference for the COVID-19 patients, who shall require essential care. Furthermore, there is a dire need for rapid manufacturing processes for a wide range of test-kits, including self-administered, antibody tests, and others.
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Further key findings from the report suggest
- The usage of insulin pumps for managing diabetes at home has increased because of the increasing number of diabetic patients, thereby propelling the growth of the insulin pump market.
- The enteral infusion pumps are an advanced infusion pump that is used to reduce dosage errors during the transfer of fluid nutrients and medications to a patient's digestive system.
- Among the application segment of this market, chemotherapy is growing at the highest rate of 7.5% during the forecasted period owing to an increasing number of cancer patients and increased use of infusion pumps for the administration of medications to these patients.
- Hospitals are expected to register a huge growth owing to various factors like the expertise availability, a rise in the number of surgical procedures, and high purchasing power to buy infusion equipment.
- North America is one of the prime contributors to the market growth because of the presence of well-established healthcare sectors in the region, the high adoption rate of specialty infusion pumps for the treatment of chronic diseases, and the rising geriatric population.
- Key participants include Becton, Dickinson and Company, B. Braun Melsungen AG, Baxter International Inc., Fresenius Kabi, ICU Medical, Inc., Smiths Medical, Medtronic Plc, Moog Inc., Terumo Corporation, and Avanos Medical, Inc. among others.
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For the purpose of this report, Reports and Data have segmented the global infusion pump market on the basis of product, application, end-user industries, and region:
Product Outlook (Revenue, USD Million; 2017-2027)
- Accessories & Consumables
- Devices
Application Outlook (Revenue, USD Million; 2017-2027)
- Chemotherapy/Oncology
- Diabetes
- Gastroenterology
- Analgesia/Pain management
- Hematology
- Others
End-User Outlook (Revenue, USD Million; 2017-2027)
- Hospitals
- Home Care Settings
- Ambulatory Care Settings
- Academic & Research Institutes
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
In conclusion, the report offers a comprehensive analysis of the factors expected to drive the global Infusion Pump market growth over the forecast period of 2021-2028. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report also offers strategic recommendations to the established players as well as new entrants to help them gain a strong foothold in the market.
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On the other hand, rising healthcare costs and reimbursement concerns are the major factors restraining the growth of the respiratory diagnostics market.
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The instruments and devices segment is expected to account for the largest share of the respiratory diagnostics market in 2016.
The continuous requirement of diagnostic instruments and devices in laboratories, point-of-care, and home care is a major factor driving the uptake of instruments and devices.On the basis of test type, the respiratory diagnostics market is broadly classified into mechanical tests, imaging tests, traditional diagnostic tests, and molecular diagnostic tests.
The large share of this segment is primarily attributed to the quick turnaround time of these tests.On the basis of disease, the respiratory diagnostics market is segmented into asthma, chronic obstructive pulmonary disease, lung cancer, tuberculosis, and other diseases.
Long-Term Care Software Market is valued at USD 1890.53 Million in 2018 and expected to reach USD 4431.16 Million by 2025 with the CAGR of 12.94% over the forecast period.Upsurge in technological advancement and increasing geriatric population are some factors driving the long-term care software market.Long-term care software is fully integrated with electronic health record, billing solution and business intelligence that helps healthcare facilities to enhance residential care, maintain compliance and manage multiple levels with a single software solution.
The software provides multiple high-quality healthcare services those are coupled with several benefits including accurate information, reduce data redundancy, boosts productivity and efficiency, saves time, and among others.
Moreover, long-term care software also provides automatic inter-facility accounting, maintains records, consolidated reports for many facilities to saves over long time.
Long Term Care Software improves resident care, reduce labor cost, maintain compliance and increase reimbursement with fully integrated electronic health record and billing solutions.Long-Term Care Software Companies:Long-term care software market report covers prominent players like AOD Software, Cerner Corporation, Kronos, PointClickCare, Omnicell, Inc., McKesson Corporation, Optimus EMR, Omnicare, Inc., Allscripts Healthcare Solutions, Inc., MatrixCare, SigmaCare, and HealthMEDX LLC among others.Its wide range of features are associated with such as centralized database, user-friendly graphical user interface and others support for rapid adoption of this software across the globe.
Multiple applications of long-term care software such as it enables mental health care providers to manage distant patient scheduling, video conferencing, and messaging and analyzing millions of data records and quickly spot potential issues before they become problems as a result of rapid adoption of long-term care software.WellSky acquires software maker for long-term care settingsNews: On February 26, 2019, WellSky (previously known as Mediware) announced the acquisition of Health Care Software (HCS) with undisclosed amount.
WellSky aim to operate across the world market and this acquisition help company to gain new analytics and care management tools, which will allow it to pursue new market opportunities as well as increase its offerings for existing clients.The regions covered in this long-term care software market report are North America, Europe, Asia-Pacific and Rest of the World.
It provides valuable information on the type, procedure, application, and region in the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141546773 Key Factors Driving Market Growth: The growing number of contracts and agreements between market players is also expected to offer a wide range of growth opportunities for market players during the forecast period.
However, the high cost of intravascular temperature management systems is restraining the growth of temperature management market.
In temperature management procedures, the number of surface warming procedures are more as compared to invasive cooling procedures due to the increasing adoption rate of surface warming systems in surgical procedures such as orthopedic surgeries, gynecology and obstetrics procedures, gastrointestinal procedures, and general surgeries.
Increase in the Incidence of Chronic Conditions: Globally, there has been an increase in the incidence of chronic conditions, such as strokes, cardiac arrests, and neurological diseases such as traumatic brain injury.
The large volume of surgical procedures performed in North American countries is a major factor driving market growth in this region.
