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.

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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.

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