Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Infusion System Market Research Report.
The steady growth of the global infusion system market has been explored in a research report published by Market Research Future (MRFR) that estimates expansion for this market with 5% CAGR between 2017 and 2023. In terms of cash, the market is likely to rise to the US $ 9.7 bn during the forecast period.
The key factors that influence the growth of global infusion system market include high demand of the infusion systems in the military medical units, increased use of infusion pumps for the delivery of drugs and other fluids, rising prevalence of chronic and fatal diseases, and technological advancements from the leading market players. However, some factors that can obstruct the growth of this market include patient safety concerns, the risk of improper infusion leading to the severe consequences, and unmet medical needs in the low-income countries.
The global infusion system market has been segmented on the basis of application, end user, type, and lastly, region. As per the application, this market has been segmented into chemotherapy, diabetes, gastrointestinal disorders, pediatrics, and others. Based on the end user, the market has been segmented into ambulatory surgical centers, home care, and hospitals. By type, the market has been segmented into the ambulatory pump, syringe pump, and volumetric pump. According to the report, the volumetric pump holds the largest share of 37.1% of the market.
The regional segmentation of the global infusion system market segments the market into regional markets known as North America, Europe, Asia Pacific, and Middle East & Africa (MEA). Among all markets, North America is the largest market for infusion pumps. During the forecast period, it is expected to continue to hold this spot in the global infusion system market. By the end of 2023, North America market is expected to reach the US $ 3.49 bn. In North America, especially in the United States of America (USA), advanced technologies are continuously rising, creating a market for infusion pumps. The other important country-specific market in North America is Canada.
Europe is the second largest market, and during the forecast period, it is expected to reach nearly $3.11 bn. Western Europe is a bigger market than Eastern Europe due to advanced technology and medical facilities. Most countries with strong economies are also located in Western Europe which makes it the bigger market. In Western Europe, the most important country-specific markets are France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Western Europe.
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The Asia Pacific is a market that has lots of potential for the growth of the infusion system market because many continuously growing economies exist in this region. During the forecast period, it is expected to emerge as the fastest growing regional market with 5.4% CAGR. The recent developments in healthcare, improving economies, rising per capita income are leading to the growth of the market in this region. The maximum revenue of this market comes from Australia, China, India, Japan, and South Korea, followed by the rest of the Asia Pacific region.
The Middle East and Africa have less economic developments most countries in the MEA region have extremely low income. Therefore, the MEA region has the smallest market share. However, during the forecast period, the market in this region is likely to grow due to better infusion treatment in this region. The reasons for the low market in this region include lack of awareness, lack of education, lack of hygiene, lack of technological development, political instability, poor healthcare, and healthcare not considered a priority by most governments.
The key players in the global infusion system market include 3M (USA), Asante (USA), Baxter International, Inc. (the USA), B. Braun Melsungen AG (Germany), Becton Dickinson & Company (USA), Biomedical Solutions (USA), CareFusion Corporation (USA), Flowonix Medical Inc (USA), Fresenius Kabi (Germany), Hospira, Inc (USA), ICU Medical, Inc. (USA), Johnson & Johnson (USA), Medtronic plc (Ireland), Micromed (UK), Mircel Medical Device (Greece), Moog Inc (USA), Pfizer, Inc. (USA), Q-Core (Israel), Roche Diagnostics (Switzerland), Smiths Medical (U.K.), Stryker (USA), and Terumo Medical Corporation (Japan).
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