The Infusion Pump Software Market Size was valued at USD 924.28 million in 2022, and is expected to reach USD 1660 million by 2030 and grow at a CAGR of 7.6% over the forecast period 2023-2030.
The infusion pump is a piece of equipment used in the process of giving patients fixed and controlled doses of fluids, including medications and nutrients. Insulin, antibiotics, chemotherapeutic treatments, and other drugs are among the medications and nutrients. The professionals who created the software interface and programmed the rate and duration of fluid flow often operate it. Utilizing the infusion pump software improves infusion management, lowers costs, and increases vehicle safety. It is commonly used in hospitals and ambulatory facilities.
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They can be divided into two categories: 1) stationary purposes and 2) portable purposes.
Infusion pumps used in hospitals are stationary devices that cannot be transferred from one location to another. Travelers use portable infusion pumps because they are portable and can be used for home healthcare. Because patients who are taking medication need restricted and precise amounts, infusion pumps are used to provide painkillers, fluids, chemotherapeutic medications, and insulin.
These pumps are also employed in the management of diabetes and chronic illnesses. If we look at the statistics from the last few years, we can see that the prevalence rates of chronic diseases are rising and that technological advancements have contributed to the improvement of the healthcare industry. As a result, infusion pumps will be used more frequently.
DRIVERS
Chronic Disease Incidence Is Rising, and the Geriatric Population Is Growing Quickly
Increasing Number of Surgical Operations
Increasing Demand for Infusion Pumps for Ambulatory and Home Care
Technological innovations
RESTRAINTS
Infusion Pumps are frequently subject to product recalls
OPPORTUNITIES
Emerging Markets Still Untapped
Specialty Infusion Systems are becoming more popular
CHALLENGES
Rising Medication Error Rates and Limited Wireless Access in Most Hospitals
The global COVID-19 epidemic and the ensuing lockout have caused the healthcare market to continue to decline. Aside from affecting communities, COVID-19 had devastating effects on the major world economies, particularly the healthcare industry. Important parties are continuing to modify their tactics in response to the fast-shifting circumstances. The healthcare sector is expected to see severe long-term effects from COVID-19. Until the problem is resolved, significant players and nations would need to make important healthcare adjustments.
Remote diagnosis, treatment, and consultation were emphasized once more in COVID-19. Growth in Telehealth has been delayed over the last few years by legislative and behavioural obstacles. However, due to the fact that many healthcare providers are currently developing video conferencing and phone calls, this market's growth will multiply many times over the next two years. Patients with mild symptoms were also required to consult online as part of the social distancing policies. Additionally, it significantly lessens the strain on hospitals, who are already overburdened with COVID-19 patient counts. Medical IoT devices that reside at home with patients are currently employed to maximize outpatient therapy and reduce recurrent visits, and these devices can even be used in a crisis situation.
Extreme resource shortages were caused by the pandemic. Future market growth is anticipated to be accelerated by the creation of value-based pricing models and competitive pricing strategies. Due to these characteristics, COVID 19 is anticipated to have a substantial effect on the market for infusion pump software.
BY Type
The Dose Error Reduction Software (DERS), Clinical Workflow Software, Interoperability Software, and Other Software segments make up the infusion pump software industry. In the time of forecasting, the DERS segment is anticipated to rule the market. The medication library that comes with the infusion pump is used by DERS to carry out its functions. This programmed provides cutting-edge safety measures for infusion pumps, and as a result, it is predicted that its market will expand as more people use infusion pumps to provide medication incorrectly.
By Indication type
It is common practise to test drinking water quality, check for pesticides, and evaluate soil samples for contamination using infusion pump software. The general infusion, pain & anaesthetic management, insulin infusion, chemotherapy, enteral infusion, and others segments of the infusion pump software indications market are subdivided. During the projection period, it is anticipated that the general infusion category will hold the greatest share of the market. Due of infusion systems' ability to provide medications to patients safely and effectively for a variety of general health issues, a significant portion of this market can be attributed to them.
BY Type
Dose Error Reduction Software (DERS)
Interoperability Software
Clinical Workflow Software
By Indication type
General Infusion
Pain and Anesthesia Management
Insulin Infusion
Chemotherapy
Enteral Infusion
By End User
Hospitals
Ambulatory Centers Settings
Home Healthcare Settings
Academic & Research Institutes
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One of the key markets is in North America. The rising revenue opportunities are in part due to the vibrant regulatory environments found in nations like the U.S. The U.S. FDA's supervision of the software development cycle and system-level testing has significantly accelerated innovation in the North American infusion pump software sector. In the global market for infusion pump software, Asia Pacific is starting to emerge as a potentially lucrative region. Product advances in the market during the past several years have been sparked by the rise in the deployment of smart infusion pumps in various clinical settings, particularly in acute care. Regarding patient safety when using these gadgets, healthcare professionals have grown more cautious. The development of the regional market is being aided by improvements made in the healthcare infrastructure of Asian countries.
REGIONAL COVERAGE
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key players are as follows: Agilent Technologies, B Braun Melsungen AG, Fresenius Kabi, ICU Medical Inc., Roche Diagnostics, Micrel Medical Devices, Baxter International Inc., Medtronic Plc., Becton Dickinson and Company, Terumo Corporation and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 924.48 Million |
| Market Size by 2030 | US$ 1434.5 Million |
| CAGR | CAGR of 7.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • BY Type (Dose Error Reduction Software (DERS), Interoperability Software, Clinical Workflow Software) • By Indication type (General Infusion, Pain and Anesthesia Management, Insulin Infusion, Chemotherapy, Enteral Infusion) • By End User (Hospitals, Ambulatory Centers Settings, Home Healthcare Settings, Academic & Research Institutes) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Agilent Technologies, B Braun Melsungen AG, Fresenius Kabi, ICU Medical Inc., Roche Diagnostics, Micrel Medical Devices, Baxter International Inc., Medtronic Plc., Becton Dickinson and Company, Terumo Corporation. |
| DRIVERS | • Chronic Disease Incidence Is Rising, and the Geriatric Population Is Growing Quickly • Increasing Number of Surgical Operations • Increasing Demand for Infusion Pumps for Ambulatory and Home Care |
| RESTRAINTS | • Infusion Pumps are frequently subject to product recalls |
Ans: The Infusion Pump Software Market size was valued at US$ 924.28 Mn in 2022.
The Infusion Pump Software Market is dominated by North America.
Infusion Pumps are frequently subject to product recalls are the restraints of Ambulatory Surgical Centers Market
Ambulatory Surgical Centers Market is divided into three segments BY Type, By Indication Type, and By End User
Ans: The infusion Pump Software market is expected to grow at a CAGR of 7.6% over the forecast period 2023-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Infusion Pump Software Market Segmentation, BY Type
8.1 Dose Error Reduction Software (DERS)
8.2 Interoperability Software
8.3 Clinical Workflow Software
9. Infusion Pump Software Market Segmentation, By Indication type
9.1 General Infusion
9.2 Pain and Anesthesia Management
9.3 Insulin Infusion
9.4 Chemotherapy
9.5 Enteral Infusion
10. Infusion Pump Software Market Segmentation, By End User
10.1 Hospitals
10.2 Ambulatory Centers Settings
10.3 Home Healthcare Settings
10.4 Academic & Research Institutes
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Agilent Technologies
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 B Braun Melsungen AG
12.3 Fresenius Kabi
12.4 ICU Medical Inc.
12.5 Roche Diagnostics
12.6 Micrel Medical Devices
12.7 Baxter International Inc.
12.8 Medtronic Plc.
12.9 Becton Dickinson and Company
12.10 Terumo Corporation.
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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