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For the last 40 years, intravenous (IV) infusion therapy became as ubiquitous as cots and syringes. In the U.S., for every hospital bed, there are almost 2 electronic IV pumps used. Therefore, over the past few years, this has saturated market. However, this proved to be an arena for steady sales growth for both market leaders and technology innovators. The main challenge facing health care providers and device manufacturers is how to make this therapy safer but also more accessible.
The industry addresses this challenge in two ways. On the one hand, recent market consolidation, conducted primarily though mergers and acquisitions has provided resources for additional R&D activities. On the other, new market entrants among medical device manufacturers benefit from expanding use of IV technology for the use outside the hospitals.
Hundreds of U.S. and international manufacturers support this sector with their intravenous infusion pumps (IV pumps), intravenous infusion line sets (IV sets), needless connectors for IV sets (NLCs), and their consumables: such as filters and stopcocks for IV sets (in-line filters and inline stopcocks). Doctors and medical personnel use methods of IV therapy for infusing medications, saline water for hydration, reagents, and blood in more than a hundred million procedures every year. Doctors prefer, and sometimes require, the use of IV therapy, for addressing dehydration, pains, gastrointestinal conditions, sepsis, osteomyelitis, hemophilia, multiple sclerosis, arthritis, immune deficiencies, and cancers, where IV infusions allow direct and quick access to the blood stream of a patient.
In the U.S., integration of electronic medical records together with medical devices including electronic IV pumps, which allow for the storage, retrieval and modification of medical records, is becoming prevalent. Smart pumps are devices that allow programming doses through individual drug libraries for every patient and determine unit calculations automatically when a drug is selected. Smart pumps lessen the number of potential errors due to improper dosages and allow the automatic updating of electronic medical records because of their connection to a hospital record system. As medical records become more automated, it is expected that infusion pumps will become increasingly automated as well. As electronic medical records and smart pumps increase their penetration into the U.S. market, the infusion pump market value is expected to increase.
Continue reading at Med Device Online: https://www.meddeviceonline.com/doc/safety-innovations-and-discovery-of-new-niches-set-the-u-s-iv-therapy-market-on-the-move-0001
For Further Information
The full report suite on the U.S. market for infusion therapy devices includes infusion pumps, intravenous (IV) sets, needleless connectors (NLCs) and stopcocks. These four categories are further segmented based on specific distinguishing categories. The infusion pump market is segmented into categories based on the type of pump, such large volume, syringe, electronic ambulatory and disposable infusion pumps. The intravenous set market is segmented by tubing type, such as primary IV, secondary IV and IV extension sets.