The global infusion pumps market is expected to grow at a CAGR of 6.0% during the forecast period, to reach USD 15.89 Billion by 2023 from USD 11.90 Billion in 2018. This market is highly fragmented with the presence of many local, regional, and global players. Various small and medium-sized players operating in both developed and emerging markets are making this a highly competitive market. The companies in this market are mainly focusing on collaborations and agreements to strengthen their presence in the infusion pumps market. In 2017, the market is primarily dominated by Becton, Dickinson and Company (US), Baxter (US), B. Braun (Germany), ICU Medical (US), Fresenius Kabi (Germany), and Smiths Medical (US).
Becton, Dickinson and Company (US) dominated the infusion pumps market in 2017. The company’s comprehensive product portfolio includes numerous infusion systems such as volumetric pumps, syringe pumps, and PCA pumps, under its market-leading brand-Alaris. The company also provides dedicated disposables for its infusion products. Over the years, the company has maintained its leading position in the market through continuous innovation and launch of advanced products. BD is consistently improving its product offerings by enabling its infusion products to be ready for data integration and with other allied products. In addition to this, BD focuses on expanding its product portfolio and geographic presence by means of mergers and acquisitions. In this regard, in April 2017, BD acquired Caesarea Medical Electronics (Israel). Similarly, in March 2015, BD acquired CareFusion Corporation (US).
Baxter (US) is one of the major market players in the infusion pumps market. Baxter’s leadership in the market can be attributed to its efficient sales network and expansion strategies in the US, Europe, and Asia. The company focuses on integrating its infusion pumps with hospital networking systems to improve the quality of care and reduce medication errors. In this regard, in December 2016, Baxter launched the Sigma Spectrum Safety Management System and upgraded the software to add features designed to help minimize infusion-programming risks. In addition, in September 2017, the company launched the DeviceVue Advanced Asset Tracking System for its Sigma Spectrum Infusion System that enable clinicians and biomedical engineers find unused pumps quickly by displaying location and status of every pump.
B. Braun (Germany) is one of the major market players in the infusion pumps market. B. Braun offers a wide range of infusion pumps and accessories. Over the past few years, the company has gained a greater market share through significant investment for expanding its geographic reach. For instance, in December 2017, B. Braun established a new subsidiary-B. Braun Medical Zambia to strengthen its presence in Africa. In addition, it has expanded its presence in Hungary, Canada, Serbia, and the Asian region. The company is focusing on integrating infusion pumps with EHR. In this regard, in November 2016, B. Braun collaborated with Omnicell (US), to increase the system interoperability of IV infusion systems.
Some of the other players competing in this market are Terumo Corporation (Japan), Moog (US), Roche Diagnostics (Switzerland), Halyard Health (US), Mindray Medical (China), Micrel Medical (Greece), and Insulet Corporation (US).
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=90374506