The Latin American infusion pumps and accessories market is estimated to reach USD 671.9 million by 2021, at a CAGR of 6.6% during the forecast period (2016 to 2021). The increasing prevalence of chronic diseases, owing to the rising geriatric population, increasing prevalence of chronic diseases, increasing demand for ambulatory infusion pumps, and technological improvements in infusion pumps are some key factors driving the growth of this market. However, economic slowdown, stringent regulations for product approval, and the occurrence of several cases of medication errors associated with infusion pumps may restrain the growth of the infusion pumps and accessories market during the forecast period. Product innovations focusing on improving the safety features of infusion pumps are at the center of R&D efforts from leading players in this market.
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In 2015, Brazil commanded the largest share of the Latin American infusion pumps and accessories market, followed by Mexico and Argentina. Countries like Brazil and Mexico are likely to grow at lower CAGRs as compared to the Colombian market, which is expected to grow at the highest CAGR during the forecast period. Growth in the Colombian market is largely driven by the rapidly aging population, increasing prevalence of chronic diseases, increasing healthcare expenditure, and increasing disposable income of the middle-class population in this country.
In this report, the market is segmented by product, application, patient care settings, and country. On the basis of products, the market covers infusion pumps (devices) and accessories. In 2015, the volumetric infusion pumps segment accounted for the largest share of the Latin American infusion pumps market. However, the insulin pumps segment is expected to grow at the highest CAGR during the forecast period The increasing prevalence of diabetes, coupled with the growing demand for management of insulin at home, is expected to drive the growth of this market segment in the coming years.
Infusion pumps accessories (comprising dedicated and non-dedicated disposables) accounted for the largest share of the Latin American infusion pumps and accessories market in 2015. Dedicated disposables for infusion pumps (related to volumetric pumps, syringe pumps, insulin pumps, enteral infusion pumps, ambulatory infusion pumps, patient-controlled analgesia pumps, and implantable pumps) accounted for the largest share of the Latin American infusion pumps accessories market in 2015. Growth in the infusion pumps dedicated disposables segment is mainly driven by the increasing demand for dedicated disposables in chronic disease management to minimize the risk of non-compatibility of disposables with infusion devices.
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Some major players profiled in the infusion pumps and accessories market report include Becton, Dickinson and Company (U.S.), Baxter International, Inc. (U.S.), Hospira, Inc. (U.S.), B. Braun Melsungen AG (Germany), Fresenius SE & CO. KGaA (Germany), Medtronic, Inc. (U.S.), Smiths Medical (U.S.), Terumo Corporation (Japan), Moog, Inc. (U.S.), and Johnson & Johnson (U.S.). Other players include Roche Diagnostics (Switzerland), Nipro Corporation (Japan), and JMS Co., Ltd. (Japan).
Related Report:
Infusion Pump Market – by Product (Volumetric Syringe Feeding Insulin PCA Pump) by Application (Chemotherapy Gastroenterology Diabetes Pain Management) by End User (Hospital Home Care Ambulatory Surgery Centers) – Global Forecast to 2020
The global infusion pumps and accessories market is expected to grow at a CAGR of 5.8% during the forecast period (2015 to 2020). The increasing prevalence of chronic diseases, owing to the rising geriatric population, increasing use of infusion products in homecare with favorable reimbursement coverage, and technological improvements in infusion products are some key factors driving the growth of this market. However, stringent regulations for product approval and the occurrence of several cases of medication errors associated with infusion pumps may restrain the growth of the infusion pumps and accessories market during the forecast period. Product innovations focusing on improving the safety features of infusion pumps are at the center of R&D efforts from leading players in this market.
Read More: https://watchersofmarkets.com/products/infusion-pump-market-by-product-volumetric-syringe-feeding-insulin-pca-pump-by-application-chemotherapy-gastroenterology-diabetes-pain-management-by-end-user-hospital-home-care-ambulatory-surgery-centers-global-forecast-to-2020
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