Growth in the infusion
pump software market is mainly driven by factors such as the increasing incidence
of chronic diseases, along with rapid growth in the geriatric population,
growing number of surgical procedures performed, rising demand for ambulatory
and home care infusion pumps, and technological developments.
The global Infusion Pump
Software Market is expected to reach USD 1,044 million by
2024 from USD 742 million in 2019, at a CAGR of 7.1%.
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On the basis of type,
the infusion pump software market is segmented into Dose error reduction
software (DERS), clinical workflow software, interoperability software and
other software. The DERS segment held the largest share of the infusion pump
software market in 2018 and this segment is also projected to register the
highest growth during the forecast period. Increasing number of medication
errors using infusion pumps is a major factor driving market growth. The
various automated safety features offered by this software also supporting the
adoption of DERS in infusion pumps.
On the basis of
indication, the market is segmented into general infusion, pain &
anesthesia management, insulin infusion, chemotherapy, enteral infusion, and
others. The general infusion segment commanded the largest share of the market
in 2018. However, the insulin infusion market is projected to register the
highest CAGR owing to a significant increase in the prevalence of diabetes
worldwide and the pump’s ease of use for prolonged insulin infusion.
Geographically, North
America is expected to dominate the global infusion pump software market in
2018, while the Asia Pacific region is expected to register the highest CAGR
during the forecast period.
The major players
operating in the infusion pump software market include BD (US), B. Braun
(Germany), Baxter (US), ICU Medical (US), and Terumo Medical (Japan). Other
players involved in this market include Fresenius Kabi (Germany), Moog (US), F.
Hoffmann-La Roche (Switzerland), Ypsomed (Switzerland), Medtronic (Ireland),
Smiths Medical (US), and Micrel Medical Devices (Greece).
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