Specialized Functions Shake up Infusion Pump Market

Specialty pumps designed for diabetics or patients requiring enteral feeding will see twice or three times the revenue growth than that of standard infusion pump devices. These are the latest findings of Kalorama Information (New York, NY, USA), an independent market research firm.

Sluggish revenue growth in the overall infusion pump market belies the fact that in some segments growth rates are much higher. Insulin pumps are growing because of the convenience of usage for an untapped market of diabetes sufferers worldwide. Enteral pumps, on the other hand, are seeing growing usage in home care settings, providing nutrition specifically for patients with diabetes, HIV, cancer, or malnutrition. Both segments will see growth rates of 8% - 11% during the coming years; the worldwide market for infusion pumps will hold a value of nearly US$6.3 billion in 2010, with an increase of just over 3%, compared to 2009.

The report shows that with the growing competition in the field, declining hospital budgets, and government restraints, the global infusion pump market will see a little over 3% growth this year. However, the opportunities inherent in the current economic climate are predicted to trigger the involvement of a number of companies. Primary among these are Medtronic (Minneapolis, MN, USA), Johnson and Johnson, Covidien (Dublin, Ireland), and Hospira (Lake Forest, IL, USA).

"That type of high revenue is hard for device companies to ignore,” said Bruce Carlson, the publisher of Kalorama Information. "Already the big names in medical devices are in this market, and we expect new products and possibly, new competitors.”

Infusion pumps are used to infuse necessary fluids, which include medications or nutrients, to a patient's circulatory system, often where continuous monitoring and treatment by a nurse or other healthcare staff would be expensive, impractical, or unreliable.

Related Links:
Kalorama Information
Medtronic
Covidien
Hospira