The Infusion Pump Software Market Size was valued at USD 10.2 billion in 2023, and is expected to reach USD 14.72 billion by 2031 and grow at a CAGR of 4.7% over the forecast period 2024-2031.
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.
Get more information on Infusion Pump Software Market - Request Sample Report
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
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.
Need any customization research on Infusion Pump Software Market - Enquiry Now
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 2023 | US$ 10.2 billion |
| Market Size by 2031 | US$ 14.72 billion |
| CAGR | CAGR of 4.7% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| 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$ 10.2 bn in 2023.
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 4.7% over the forecast period 2024-2031.
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
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Wearable Breast Pumps Market Size was valued at USD 550.50 million in 2023 and is expected to reach USD 1065.11 million by 2031, and grow at a CAGR of 8.6% over the forecast period 2024-2031.
The Precision Medicine Software Market Size was valued at USD 1.85 billion in 2023, and is expected to reach USD 4.49 billion by 2031 and grow at a CAGR of 11.7% over the forecast period 2024-2031.
Sepsis Diagnostics Market was valued at USD 1.2 billion in 2023 and is expected to reach USD 2.5 billion by 2032, growing at a CAGR of 8.6% from 2024 to 2032.
The Echocardiography Market was estimated at US$ 2.01 billion in 2023 and is expected to reach US$ 3.54 billion by 2031 and is anticipated to increase at a CAGR of 7.21% predicted for the forecast period of 2024-2031.
The Legal Marijuana Market Size was valued at USD 21.08 billion in 2023 and with a CAGR of 25.6% from 2024 to 2031, will reach to 130.55 billion by 2031.
The Remote Patient Monitoring Market Size was valued at USD 65.43 Bn in 2023 and will reach USD 458.29 Bn by 2031 and grow at a CAGR of 27.55% by 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
