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Global Infusion Systems Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
Global Infusion Systems Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
The Global Infusion Systems Market is Forecast to Exceed $6.8 billion in 2016 After Growing at a CAGR of 12.5% from 2009
Hyderabad,
AP,
India
(prbd.net)
11/05/2010
"Global Infusion Systems Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016"
The global infusion systems market, valued at $3 billion in 2009 and is forecast to reach $7 billion in 2016 after growing at a Compound Annual Growth Rate (CAGR) of 13% from 2009. The growth in the market is primarily being driven by the introduction of advanced infusion systems integrated with hospital information systems, increased spending in the healthcare sector, increased incidences of a number of chronic diseases, an aging population, an interest towards alternative sites of care especially homecare, and people’s increasing concerns about health and desire to have more active and independent lives. Finally awareness raising efforts by companies are expected to expand the infusion devices market.
The infusion disposable sets segment is the largest segment within the infusion systems market. The infusion disposable sets segment was valued at $2 billion in 2009, and grew annually at 11% from 2002 to 2009. Infusion pumps and syringe pumps were the fastest growing segments in the infusion systems market. The two segments grew at a CAGR of 12% each from 2002 to 2009. The infusion pumps market is expected to reach $1,654m in 2016 after growing at a CAGR of 14% from 2009. The development of cost effective and error free pumps is expected to drive the growth of the infusion pumps market. Also direct-to-consumer advertising is expected to have an encouraging effect on the market for ambulatory infusion pumps.
Globally, the US remains the largest infusion systems market. The US infusion systems market was valued at $1.8 billion in 2009 and is forecast to grow by 14% annually for the next seven years to reach $4.5 billion by 2016. The market in the US is driven by demand in the homecare segment and the availability of advanced systems. In Europe, Germany is the largest infusion systems market valued at $103m in 2009 and is forecast to grow by 7% annually for the next seven years to reach $162m by 2016. The market opportunity in Europe lies in increasing demand for refurbished products. India and China are forecast to grow faster, driven by an increasing awareness among physicians and patients and the availability of sophisticated infusion systems.
Efforts are underway to create infusion devices that are easier to manage and monitor, are safe and economical, and help caregivers avoid device-related medication errors. This upgradation will result in increased demand by hospitals. One of the advanced features available with the infusion system is the integration of the infusion system with the hospital’s IT platform to share relevant information. This helps in electronically transmitting patient information, reducing errors and providing effective treatment.
Infusion therapy is used mostly in conditions such as diabetes, cancer pain, in neurological conditions for chronic pain, spasticity and congestive heart failure. The growing incidence of neurological conditions and chronic diseases such as cancer and diabetes due to the aging population is expected to drive the market for infusion devices. Also, the global population is aging due to a rise in the average life expectancy of people. The risk of cancer and neurological disorders increases with age.
GlobalData’s new report, “Global Infusion Systems Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016” provides key data, information and analysis on the global infusion systems market. The report provides market landscape, competitive landscape and market trends information the infusion systems market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape, key pipeline products and technology offerings.
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