As per the Arthritis Foundation, 15% of the older population in the U.S. is affected by arthritis, and this number is estimated to grow by 21% by the year 2040. The rising prevalence of such types of diseases has led to an increase in the demands for drug infusion pumps. These pumps can provide a controlled amount of nutrient materials to the patients. According to the latest market intelligence report by BIS Research titled, ‘Global Drug Infusion System Market- analysis and Forecast (2017-2025),’ the market is anticipated to grow over $14.7 billion by the year 2025. The market is expected to grow significantly during the forecast period owing to the various technological advancements, rising demands in the developing nations, and increased use of drug infusion system in therapeutic indications.
In May 2018, in a press release, Insulet Corporation, the leader in tubeless insulin pump technology, with its Omnipod Insulin Management system, announced about their strategic partnership with the two highly experienced diabetes pump supply distributors. The distributors, Theras Group and Nordic Infucare, are well known across the globe for their services. The objective of the partnership is to provide full distribution of the Omnipod system in Italy and the Nordic markets, from the first week of July.
In March 2018, Ivenix, a medical technology company, developed the Ivenix Infusion System for an intravenous drug infusion. Infusion-related errors can be harmful to the patients and can have a significant financial impact on the hospitals. The Ivenix infusion system aligns infusion data from multiple sources, allowing clinicians to see the full picture, which in turn enable the clinicians to make better decisions during the patient’s treatment.1
In January 2018, The Food and Drug Administration (FDA), U.S.A., approved design changes and a new programming interface for the ‘Medtronic’s implantable drug pump’ developed by synchro Med II imp. The developed drug pump is approved to treat chronic pain and severe muscle spasticity in patients, who don’t get relief from drug therapies or other treatments. According to the company, for some patients, the device can reduce or eliminate the need for opioid medication as it delivers small and targeted dose of pain-relieving drugs directly into the spinal fluid.2
The competition in the drug infusion market is based on the pricing, innovations, brand value, and customer services. To sustain in the market, market players are undertaking various strategies such as acquisitions and mergers, licensing and agreements. In 2016, the large volume pump system accounted for the highest market share on a global scale, among the product types. Some of the prominent market players in the market for drug infusion system are Medtronic, Insulet Corporation, MOOG, Smiths Group, Tandem Diabetes Care and Baxter, among others.