SEATTLE, April 16, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global programmable infusion pumps and catheters market was valued at US$ 8,365.3 million in 2017, and is projected to exhibit a CAGR of 5.8% over the forecast period (2018–2026).
Key Trends and Analysis of the Global Programmable Infusion Pumps and Catheters Market:
Key players in the market are focusing on partnership and new product launch strategies, in order to enhance their market share. For instance, in April 2019, B. Braun Medical Inc. entered into a partnership with Medical Information Technology, Incorporated (MEDITECH) for integration of its Space Infusion Pump Systems with MEDITECH MAGIC electronic health record (EHR) platform. The integration is mediated via Iatric Systems, Inc.’s medical device integration solution, Accelero Connect and helps reducing occurrence of manual programming errors which might result in pump related adverse events.
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Furthermore, manufacturers are focusing on company expansion to strengthen their product portfolio which is expected to increase their market share. For instance, in April 2018, B. Braun Melsungen AG inaugurated five new medical production facilities in Penang, Malaysia. The new state-of-the art facilities featuring latest production technologies, are intended for manufacturing surgical devices, pharmaceutical solutions, and medical devices for infusion therapy. These factors are expected to boost global programmable infusion pumps and catheters market growth over the forecast period.
Increasing research and development activities by key players for upgrading their current products is expected to support global programmable infusion pumps and catheters market growth over the forecast period. For instance, in August 2016, Smiths Medical, a global medical device manufacturer, integrated its Medfusion 4000 wireless syringe infusion pumps with PharmGuard interoperability software. The integration led to addition of a new feature called smart pump programming.
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Key Market Takeaways:
About Coherent Market Insights:
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