Published By : 22 Aug 2016 | Published By : QYRESEARCH
Infusion pumps are used extensively to deliver therapeutic drugs and fluids such as saline solutions, plasma, and dextrose. They are used to deliver drugs at a precisely controlled rate and are thus, efficient for infusion through intravenous, subcutaneous, epidural, arterial, peritoneal, enteral, and intrathecal routes. The rising number of patients suffering from diabetes, chronic pain, and cancer have encouraged the growth of the global infusion pumps market.
Growing Geriatric Population Drives Demand for Infusion Pumps
As per WHO, the global geriatric population will rise from 524 mn in 2010 to 2 bn by 2050. The rapid rise in geriatric population is expected to trigger the demand for infusion pumps. Additionally, the focus of manufacturers on technological advancements in infusion pumps is also driving the global infusion pumps market. The advancements in infusion pumps lead to better efficiency, allowing the medical staff to better care for patients. Thus, the demand for infusion pumps are increasing with the innovations and advancements in their product range.
Rising Number of Malfunctioning Infusion Pumps Poses Threat to Demand
Infusion pumps are used across healthcare settings and as such any malfunctioning in the device can cause serious health related issues for patients. As such problems with infusion pumps such as battery or alarm failure and software error messages can lead to deaths and severe complications. These defects have caused several product recalls, which is impeding the growth of the market. A case in point would be Medtronic. The company’s SynchroMedImplantable Infusion System was recalled in June 2013.