According to a new report by iData Research, an 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 percent 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 forecast period."
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, nationwide 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 more than 17 segments.