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(Medical-NewsWire.com, December 04, 2018 ) According to the new market research report "Latin America Infusion Pump Market by Product (Volumetric, Syringe, Feeding, Insulin, PCA Pump), Application (Chemotherapy, Gastroenterology, Diabetes, Pain Management), Setting (Hospital, Ambulatory Centers), Accessories - Forecast to 2021", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
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The Latin American infusion pumps and accessories market is expected to be valued at USD 487.3 Million in 2016. This market is expected to grow at a CAGR of 6.6% during the forecast period (2016–2021) to reach USD 671.9 Million by 2021.
The Latin American infusion pumps and accessories market is expected to be valued at USD 487.3 Million in 2016. This market is expected to grow at a CAGR of 6.6% during the forecast period (2016–2021) to reach USD 671.9 Million by 2021. Growth in this market can mainly be attributed to factors such as increasing prevalence of chronic diseases owing to the rapidly growing geriatric population, increasing use of infusion products in homecare, and technological advancements in infusion pumps. On the other hand, factors such as the economic slowdown, stringent regulations for product approval, and medication errors associated with infusion pumps as well as related product recalls in the recent past may restrain the growth of the market during the forecast period.
Browse and in-depth TOC on “Latin America Infusion Pump Market”
139 – Tables
44 - Figures
212 - Pages
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On the basis of products, the infusion pumps and accessories market is segmented into infusion pumps (devices) and infusion pump accessories. Infusion pump accessories (comprising dedicated and non-dedicated disposables) accounted for the largest share of the Latin American infusion pumps and accessories market in 2015. This segment is expected to grow at the highest CAGR during the forecast period. The infusion pumps market is further segmented into volumetric pumps, syringe pumps, insulin pumps, enteral pumps, ambulatory pumps, patient-controlled analgesia pumps, and implantable pumps. The increasing demand for insulin pumps and ambulatory infusion pumps are driving the demand for these pumps mainly due to the increasing prevalence of diabetes, cancer, and chronic diseases in this region. Ambulatory infusion pumps, such as disposable pumps and chemotherapy pumps, enable mobility of patients during their treatment, owing to which they are increasing being preferred in home care applications.
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In 2015, Brazil accounted for the largest share of the Latin American infusion pumps and accessories market, followed by Mexico and Argentina. The large share of the Brazilian market can be attributed to the high prevalence of chronic diseases, rising penetration of smart pumps, high adoption of ambulatory pumps in the management of chronic diseases, and well-established healthcare infrastructure in the region. Argentina, Colombia, and Chile are expected to offer significant growth opportunities for market players in the forecast period owing to the large patient population, increasing incidence of chronic diseases with changing lifestyles, increasing accessibility to advanced products, improving healthcare facilities, and increasing disposable income of the middle-class population.
Key Players:
The major players in the Latin American infusion pumps and accessories market are 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), JMS Co., Ltd. (Japan), Acromed A.G. Medical Systems (Switzerland), KD Scientific (U.S.), Caesarea Medical Electronics (U.S.), New Era Pump Systems, Inc. (U.S.), Micrel Medical Devices SA (Greece), and Zyno Medical (U.S.).
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