The geriatric population is on a rise in the continent of North America owing to immigrants from World War II having fled to countries such as the United States of America and Canada have started reaching an old age in the current scenario, and their indigenous population adding to the geriatric the populace, the healthcare industry is adopting methods and technologies in accordance with them. Healthcare analysts at IndustryARC have recently published a report on infusion therapy devices market which cites the above-stated fact as its growth driver. According to the analyst, the infusion therapy devices market will earn a noticeable revenue evaluated at $9,340.66m through to 2023. The market will reach this revenue by proceeding at a CAGR of 4.29% during the forecast period 2018-2023.
The IndustryARC report titled ‘Infusion Therapy Devices Market: By Type (Infusion type, Infusion method); By Pumps (Large volume pumps, Syringe pumps, Disposable pumps); By Accessories and consumables (I.V sets, Infusion sets, Needless connectors); By Application (Chemotherapy, Pain management, Enteral nutrition); By End users (Hospitals, Clinics, Home healthcare); By Geography - Forecast (2018-2023)’ has additional details about innovation in healthcare industry pertaining to infusion therapy devices which are being used in hospitals around the world.
Infusion Therapy Devices Market: Regional Analysis
Infusion therapy devices market has seen an extraordinary rise in North America in the recent past. The analyst of the report calculated $2,445.5m revenue earned by this region in 2018. Chronic diseases are on an unprecedented rise in countries such as United States of America and Canada. With severe lifestyle changes and unhealthy food emanating from composite cultures in these countries, people are getting frail with every passing day. This generates a high demand for the infusion therapy devices market and provides it a boost. Another factor that is responsible for this demand share is technological advancements in infusion devices that are taking place inside medical research centres in the continent of North America. Prominent medical institutes such as Johns Hopkins School of Medicine has a multitude of researchers working on this specific technology.
Infusion Therapy Devices Market: Disruptive Trends
· Accu-Chek Spirit Insulin Pump
Roche Diagnostics Corp, a Switzerland based medical company has come up with an insulin pump that is being praised for its ease of accessibility and flexible options. It can easily be used by both patient and a nurse using navigation based operating system that can be customized according to the user’s knowledge level.
· Postmenopausal Osteoporosis
Switzerland based Novartis International AG, a well-known medical corporation in the world has invented an infusion therapy device called Reclast. This is meant especially for women who are suffering from arthritis after attaining menopause. It can also be used in men to prevent glucocorticoid-induced osteoporosis.
Infusion Therapy Devices Market: Competitive Landscape
A number of companies have been researching and developing in the infusion therapy devices market and have a key role to play in its growth. These companies include Roche Diagnostics Corp, Medtronic PLC, Smiths Medical, Novartis International AG, Kimberley Clark Corp, Becton Dickinson, B. Braun Melsungen AG, Fresenius SE & Co., Terumo Corporation, and Hospira Inc.
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