Ambulatory IV Infusion Pumps Global Market Report 2020-30: COVID 19 Growth And Change

The Business Research Company’s Global Ambulatory IV Infusion Pumps Market Report 2020-30: COVID 19 Growth And Change

LONDON, GREATER LONDON, UK, August 31, 2020 /EINPresswire.com/ -- The global ambulatory IV infusion pumps market is expected to grow from $42 million in 2019 to $48.5 million in 2020 at a compound annual growth rate (CAGR) of 15.43%. The growth is mainly due to the COVID-19 outbreak that has increased the demand for ambulatory IV infusion pumps to treat the affected patients. The ambulatory IV infusion pumps market share is then expected to adjust and reach $53.3 million in 2023 at a CAGR of 3.21%.

The rise in the prevalence of people with chronic pain, cancer, and diabetes is a significant driver of the ambulatory IV infusion pumps market, as these pumps are commonly used to deliver pharmaceutical drugs during the treatment of these diseases. Chronic illnesses and disorders are on the rise around the world. Increasing aging population and shifts in social behavior lead to a gradual increase in these widespread and expensive long-term medical issues.

An ambulatory IV infusion pump is a medical device that transfers regulated doses of nutrients or drugs into a patient’s body, such as chemotherapy medicines, pain relievers, antibiotics, insulin, or other hormones, at home. According to the World Health Organization, the prevalence of chronic diseases is expected to increase by 57% by 2020. Therefore, the rise in the prevalence of chronic diseases is expected to drive the growth of the ambulatory IV infusion pumps market share.

Companies in the ambulatory IV infusion pump market are increasingly focusing on developing smart infusion pumps. The use of wireless technology in health monitoring devices is increasing, which enhances the ease of usage, connectivity and data analysis. The integration of wireless technology allows the transfer of data from the device to a smartphone, or a wireless device through Bluetooth or cellular connection for data processing, and then to display the results, which can be used for further study and to check the health condition of the individual. Software platforms are being developed that allow patient monitoring and reduce human error. In June 2019, Ivenix, a US-based medical device company, received clearance for a new smart infusion pump that reduces human and software error with more streamlined technology.

The ambulatory IV infusion pumps market consists of sales of ambulatory IV infusion pumps and related services by entities (organizations, sole traders and partnerships) that manufacture ambulatory IV infusion pumps. Ambulatory IV infusion pumps are portable medical devices used for controlled delivery of medication into the patient’s body. The ambulatory IV infusion pumps market share is segmented by type into disposable infusion pumps and chemotherapy infusion pump. By end-user, the market is segmented into hospitals, home healthcare, and others.

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