Infusion Pump Market: Opportunities and Challenges

Veterinary Equipment Market Veterinary Equipment Market

CITY, Country, 2019-Nov-15 — /EPR Network/ —

The Infusion Pump Market was valued at USD 11.27 Billion in 2017 and is expected to reach USD 15.89 Billion by 2023, at a CAGR of 6.0% during the forecast period, as per a report by MarketsandMarkets.

How growing adoption of specialty infusion systems presents a good opportunity?

The adoption of several specialty infusion pumps is on the rise globally. Patient-controlled analgesia (PCA) pumps, enteral pumps, insulin infusion pumps, and implantable infusion pumps are the different types of specialty infusion pumps available in the market.

PCA pumps induce anesthesia in a controlled manner and reduce the complications associated with anesthetics. These pumps are also widely used for pain management during labor pain and chronic diseases. Enteral infusion pumps are imperative medical tools used for patients who face difficulties caused by indigestion due to recent surgeries or functional inabilities of various digestive organs. The increasing incidence of preterm births, the shift from parenteral to enteral nutrition, and rising prevalence of chronic diseases have resulted in the increased adoption of enteral infusion pumps.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=90374506

Why increasing incidence of medication errors and lack of wireless connectivity in most hospitals is a challenge?

Medication errors are the most significant causes of medical injuries, representing 19.4% of all adverse events. Intravenous (IV) infusions have been identified as frequent contributors to medication errors, and the injuries that result from them. General infusion pumps are designed to improve the accuracy and continuity of IV infusions by allowing nurses to program an hourly rate and volume. However, studies highlight that these devices are involved in 35% to 60% of the estimated 770,000 adverse drug events (ADEs) that occur each year. Most ADEs associated with IV infusion devices occur because of nurses manually inputting incorrect settings into the pump. The most common infusion errors include unit errors, multiple of ten errors, miscalculations, and push-button mistakes. Fatal errors occur as a result of decimal entry errors while programming infusion pumps (for instance, programming morphine at 90 ml/hr instead of 9.0 ml/hr, causing a tenfold overdose). Wireless connectivity of infusion pumps with the Barcoded Medication Administration (BCMA) system, Hospital Information System (HIS), and Electronic Medical Record (EMR) can help overcome these shortcomings and elevate the current smart pumps to the new level of “intelligent” infusion systems.

Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=90374506

Browse Related Reports:

Insulin Delivery Devices Market by Type (Insulin Pens (Reusable, Disposable), Insulin Pumps (External/Tethered, Patch), Pen Needles (Standard, Safety), Insulin Syringes) and End User (Patients/Homecare, Hospitals & Clinics) – Global Forecast to 2021

Enteral Feeding Devices Market by Type (Feeding Pump, Feeding Tube, Giving Set, Enteral Syringes), Age Group (Adult, Pediatric), Application (Oncology, Diabetes, Hypermetabolism), End User (Hospital, Home Care) – Global Forecast to 2024

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062}
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com

Matched content

Editor’s pick