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Global Programmable Infusion Pumps and Catheters Market to Surpass US$ 13.8 Billion by 2026

SEATTLE, April 16, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global programmable infusion pumps and catheters market was valued at US$ 8,365.3 million in 2017, and is projected to exhibit a CAGR of 5.8% over the forecast period (2018–2026).

/EIN News/ -- Key Trends and Analysis of the Global Programmable Infusion Pumps and Catheters Market: 

Key players in the market are focusing on partnership and new product launch strategies, in order to enhance their market share. For instance, in April 2019, B. Braun Medical Inc. entered into a partnership with Medical Information Technology, Incorporated (MEDITECH) for integration of its Space Infusion Pump Systems with MEDITECH MAGIC electronic health record (EHR) platform. The integration is mediated via Iatric Systems, Inc.’s medical device integration solution, Accelero Connect and helps reducing occurrence of manual programming errors which might result in pump related adverse events.

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Furthermore, manufacturers are focusing on company expansion to strengthen their product portfolio which is expected to increase their market share. For instance, in April 2018, B. Braun Melsungen AG inaugurated five new medical production facilities in Penang, Malaysia. The new state-of-the art facilities featuring latest production technologies, are intended for manufacturing surgical devices, pharmaceutical solutions, and medical devices for infusion therapy. These factors are expected to boost global programmable infusion pumps and catheters market growth over the forecast period.

Increasing research and development activities by key players for upgrading their current products is expected to support global programmable infusion pumps and catheters market growth over the forecast period. For instance, in August 2016, Smiths Medical, a global medical device manufacturer, integrated its Medfusion 4000 wireless syringe infusion pumps with PharmGuard interoperability software. The integration led to addition of a new feature called smart pump programming.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/programmable-infusion-pumps-and-catheters-market-2565

Key Market Takeaways:

  • The global programmable infusion pumps and catheters market is expected to exhibit a CAGR of 5.8% over the forecast period. This is owing to increasing research and development by key players for product launch. For instance, in April 2018, Smiths Group plc launched its new product, CADD-Solis wireless infusion pump, for safe delivery of analgesics (pain killer).
  • Key players in region such as North America, Europe, and Asia Pacific, are focusing on inorganic growth strategies. For instance, in April 2017, BD (Becton, Dickinson and Company), a global medical technology company, completed the acquisition of Caesarea Medical Electronics (CME), a global manufacturer of infusion pump systems.
  • Increasing use of programmable infusion pumps due to advantages such as direct sharing of data to Electronic Health Record (EHR) system, over its non-programmable counterparts is expected to have a positive impact on global programmable infusion pumps and catheters market growth over the forecast period
  • Major players operating in the global programmable infusion pumps and catheters market include, ICU Medical, Inc., Smiths Group plc, Baxter International Inc., Fresenius Se & Co. KGaA, Johnson & Johnson, Medtronic PLC, Becton, Dickinson and Company, Terumo Corporation, Braun Melsungen AG, and Moog Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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