Global Analgesic Infusion Pumps Market 2017-2021
About Analgesic Infusion Pumps
Analgesic infusion pumps are medical devices that are used for pain management by delivering analgesic drugs to the patient through infusion pumps. Chronic diseases such as cerebral palsy, spinal cord injury (SCI), cancer, sickle cell anemia, and medical conditions like labor pain, accident and trauma, post-surgical pain, and trigger pain can be relieved by analgesic infusion pumps.
Technavio’s analysts forecast the global analgesic infusion pumps market to grow at a CAGR of 4.00% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global analgesic infusion pumps market for 2017-2021. To calculate the market size, the report considers the revenue generated by the sales of analgesic infusion pumps.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Analgesic Infusion Pumps Market 2017-2021
Technavio recognizes the following companies as the key players in the global analgesic infusion pumps market: Baxter, B. Braun, BD, Medtronic, and Smiths Medical.
Other Prominent Vendors in the market are: Animas Corporation (a subsidiary of Johnson & Johnson), Codman & Shurtleff (a subsidiary of Johnson & Johnson), Flowonix Medical, Fresenius Kabi (a subsidiary of the Fresenius), Hospira (a subsidiary of Pfizer), I-Flow Corporation (a subsidiary of Kimberly-Clark Corporation), Micrel Medical Devices, Mindray, Sorenson Medical, Stryker, and Terumo Medical Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological advancements in the product. There has been tremendous growth in the field of medical devices industry over the past decade due to advancements in technology. Safe medication administration with the help of developed technology, for instance, improvement of IV pump technology that used to calculate the infusion rate by estimating a number of drops per minute are now able to send usage data wirelessly.”
According to the report, one driver in the market is growing awareness regarding usage of analgesic infusion pumps. The analgesic infusion pump is an effective method of self-administration of pain relieving medication. In recent years, there have been increasing awareness of the device among the various stakeholders from manufacturers to the end-users like individuals in hospitals and home care. Lack of awareness related to the usage of the device may lead to medication error and can also be fatal for the individuals. Prior training regarding the usage of the device needs to be provided by the nurses before surgery to the individuals.
Further, the report states that one challenge in the market is slower adoption rate of the device. The analgesic infusion pump has slow adoption rate, and hence the market penetration is slow. The factors contributing to the slow rate of market penetration of analgesic infusion pump are availability of substitutes for pain management in the form of oral medications such as tricyclic antidepressants, anticonvulsants, and analgesics, which used for chronic medical conditions; and neurostimulators, which use mild electric impulses placed near the spine to reduce pain due to chronic medical conditions.
Baxter, B. Braun, BD, Medtronic, Smiths Medical, Animas Corporation (a subsidiary of Johnson & Johnson), Codman & Shurtleff (a subsidiary of Johnson & Johnson), Flowonix Medical, Fresenius Kabi (a subsidiary of the Fresenius), Hospira (a subsidiary of Pfizer), I-Flow Corporation (a subsidiary of Kimberly-Clark Corporation), Micrel Medical Devices, Mindray, Sorenson Medical, Stryker, and Terumo Medical Corporation.