Vancouver, BC -- (ReleaseWire) -- 12/15/2017 --According to a new series of reports on the U.S. market for infusion therapy devices by iData Research (www.idataresearch.com), manufacturing and design defects leading to occasional product recalls hamper steady sales in the country. Furthermore, persistence of plastic PVC-based materials containing potentially harmful DEHP leaves customers in doubt and pushes them to other treatment options without the use of advanced medical devices.
Despite these challenges, the industry is gradually introducing more stringent rules and adopting new standards for safer practices. This progress is being achieved through improving national standards of care, such as via the Infusion Therapy Standards of Practice and the Policies and Procedures for Infusion Nursing, as well as through upgrading policies of individual care providers. These developments have led to increased replacement rates of equipment already in use and the introduction of new, safer, and more efficient technologies in the market. More R&D teams and practitioners are working to identify potential problems across the full spectrum of devices for IV therapy and to develop options to improve both technology and procedures.
"In the coming years, IV therapy will continue to be an increasingly effective method of treatment, presenting opportunities for both industry veterans and new entrants," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "Corporate consolidation will increase overall R&D spending and lead to the development of more effective and efficient devices, further growing the market volume and penetration."
The infusion therapy device market in the U.S. is a mixture of single-use devices, such as IV sets and needleless connectors, and capital equipment, such as IV pumps and software. The IV set segment accounted for the largest portion of the overall infusion therapy device market due to the sheer volume of IV sets sold. However, the market for infusion pumps is comparable to the IV set market in value. The infusion pump market is highly saturated and the majority of units sold go towards replacing existing systems.
Becton Dickinson is the leading competitor in the U.S. infusion therapy device market. The company's Alaris® intravenous (IV) set product line includes primary, secondary and IV extension sets, which are bundled with their Alaris® large volume and syringe infusion pumps. Becton Dickinson has benefited from several product recalls by their competitors in the infusion pump market, and strategic acquisitions of companies with complementary product lines. Additional competitors in the U.S. infusion therapy device market include ICU Medical/Hospira, Baxter, B.Braun, Smiths Medical, Fresenius, Nexus Medical, Halyard Health, Codan USA, GVS, Pall Corporation, Medtronic, Merck Millipore, Vygon and ITW Filtertek among others.
For Further Information
More on the infusion therapy device market in the U.S. can be found in a series of reports published by iData entitled the U.S. Market Report Suite for Infusion Therapy Devices. The full report suite on the U.S. market for infusion therapy devices includes infusion pumps, infusion sets, needleless connectors, inline IV filters, stopcocks and blood transfusion sets.
The iData series on the market for infusion therapy devices covers the U.S., Australia, Japan, South Korea, China, India and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxembourg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about infusion therapy device market data or procedure data, register online or email us at info@idataresearch.net for a U.S. Market Report Suite for Infusion Therapy Devices brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Vascular Access, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Laparoscopy, Urology, Gynecology, Endoscopy, Orthopedic Trauma, Large & Small Joints, Orthopedic Soft Tissue, Orthopedic Biomaterials, Orthopedic Soft Tissue Reinforcement and Regeneration, Spinal Implants and VCF, Spinal MIS, Wound Management, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Ophthalmics, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Anesthesiology and more.
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Becton Dickinson Leads U.S. Infusion Therapy Device Market Fueled by New Regulations Increasing Replacement Rates
The overall U.S. infusion therapy device market is expected to increase and exceed an estimated $2.7 billion by 2024.