Nation-Wide Infusion Pump Product Recalls Intensifies Market Competition
VANCOUVER, May 17 /CNW/ - According to a new report by iData Research (www.idataresearch.net), the leading global authority in medical device market research, the
U.S. infusion therapy device market will exceed $5 billion in 2010,
which include needleless connectors, infusion pumps and intravenous
(IV) sets. By 2017, the market is estimated to reach over $6.6 billion
fueled by the rising use of infusion pumps in alternate and home-care
settings, as well as the introduction of smart pumps which utilize
electronic medical record data for automated drug dosage monitoring.
Growth in this market will also be driven by the increased use of
antimicrobial mechanical valve needleless connectors for the reduction
of catheter-related bloodstream infections (CRBSIs).
"Medicare and major insurance companies are no longer reimbursing for
vascular access associated infections," says Dr. Kamran Zamanian, CEO
of iData. "Facilities must absorb the costs of treating such patients
and as a result, hospitals are purchasing premium-priced antimicrobial
needleless connectors making this segment the fastest-growing in the
market with almost 70% growth in 2010. This market is dominated by
Baxter's first-to-market V-Link® Luer Activated Device, however ICU
Medical and B. Braun are expected to gain market share over the
In addition, the report states that due to budgetary constraints,
hospitals and private clinics are purchasing less-expensive disposable
infusion pumps, boosting sales in the single-use ambulatory infusion
pump market. Ambulatory and syringe infusion pumps is also growing at
strong rates due to increasing use in the home-care and alternate
clinical settings. However, nation-wide product recalls have limited
market potential and intensified competition among top manufacturers
such as CareFusion, Baxter, Hospira, I-Flow, Moog and Smiths Medical.
It has also opened up opportunities for new companies to enter and new
technologies to be introduced and gain dominance.
iData's report on "The U.S. Market for Infusion Therapy Devices 2011"
includes the latest data, market-analyses and competitor profiles for
over 17 segments.
For more information, register free on iData's website at:
About iData Research
iData Research (www.idataresearch.net/idata/discoveridata.php) is an international market research and consulting group focused on
providing market intelligence for medical device and pharmaceutical
companies. iData covers research in: vascular access, interventional
cardiology, peripheral vascular, cardiac surgery and more.
SOURCE iData Research Inc.
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