The global infusion pump software market is projected to reach 1,044 million by 2024 from USD 742 million in 2019 at a CAGR of 7.1%
NEW YORK, April 11, 2019 /PRNewswire/ -- The infusion pump software market is projected to grow at a CAGR of 7.1% during the forecast period.
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The global infusion pump software market is projected to reach 1,044 million by 2024 from USD 742 million in 2019 at a CAGR of 7.1%. Growth in the infusion pump software market can be attributed to factors such as increasing incidence of chronic diseases, along with rapid growth in the geriatric population, growing number of surgical procedures performed, rising demand for ambulatory and home care infusion pumps, and technological developments. However, frequent product recalls of infusion pumps may restrain the market to a certain extent.
The DERS segment is expected to hold the largest market share during the forecast period.
On the basis of type, the global infusion pump software market has been segmented into Dose error reduction software (DERS), clinical workflow software, interoperability software and other software.The DERS segment is expected to hold the largest market share during the forecast period.
DERS is offered as a part of the drug library incorporated in the infusion pump.This software aids in preventing incorrect dosage of medicine by alerting the clinician via alarm.
Subsequently, increasing number of reported medication errors using infusion pumps is a major factor boosting this market growth.
The insulin infusion segment is expected to grow at the highest rate during the forecast period.
On the basis of indication, the infusion pump software market is segmented into general infusion, pain & anesthesia management, insulin infusion, chemotherapy, enteral infusion, and others.The general infusion segment is expected to take the largest share of this market.
The high growth of this segment can be attributed to factors such as the ease and safety offered by infusion pumps software for delivery of medication.
The Home care settings segment is expected to grow at the highest rate during the forecast period.
On the basis of end user, the infusion pump software market is segmented into hospitals, ambulatory care settings, home care settings, and academic & research institutes.The home care settings segment is expected to grow at the highest rate during the forecast period.
The high growth of this segment can be attributed to factors such as increasing preference for treatment at one's convenience and the advantage of home infusion being highly cost effective.
The Asia Pacific infusion pump software market is expected to grow at the highest rate during the forecast period.
Geographically, the infusion pump software market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World.The Asia Pacific market is expected to grow at the highest rate during the forecast period.
The high growth in this region can be attributed to the a large population pool, increasing aging population, growing incidences of chronic diseases, increased awareness and accessibility of advanced healthcare facilities, and rising healthcare spending.
Breakdown of supply-side primary interviews:
-- By Company Type: Tier 1 - 55%, Tier 2 - 20%, and Tier 3 - 25%
-- By Designation: C-level - 35%, Director-level - 25%, and Others - 40%
-- By Region: North America - 20%, Europe - 25%, APAC - 40%, and RoW - 15%
The major players in the market include BD (US), B.Braun (Germany), Baxter (US), ICU Medical (US), Terumo Medical (Japan), Fresenius Kabi (Germany), Moog (US), F.
Hoffmann-La Roche (Switzerland), Ypsomed (Switzerland), Medtronic (Ireland), Smiths Medical (US), and Micrel Medical Devices (Greece).
Research Coverage
This report studies the infusion pump software market based on type, end user, indication, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis--industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the infusion pump software market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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