— Dr. Kamran Zamanian, Senior Partner and CEO
VANCOUVER, BC, CANADA, September 13, 2023/EINPresswire.com/ — iData Research, a leading global market research firm specializing in medical devices and pharmaceuticals, highlights the imminent expansion of the global infusion therapy market in the updated 2024 market report which was published on September 1st, 2023. This comprehensive report delves deep into various market segments, including infusion pumps, intravenous sets, needleless connectors, stopcocks, intravenous filters, and blood transfusion sets.
By the year 2030, the global infusion therapy market will have substantial growth, primarily propelled by the increasing accessibility of healthcare in emerging markets. These regions are experiencing remarkable enhancements in healthcare infrastructure and service availability. iData’s latest report conducted an exhaustive analysis of over 45 infusion therapy companies, employing a rigorous methodology to assess market sizes, unit sales, company market shares, and generate precise forecasts.
Key highlights from the iData report include:
Robust Market Expansion: In 2023, the global infusion therapy market reached a valuation of $11.7 billion, marking a 4.5% increase from the previous year’s $11.2 billion. This valuation is expected to continue its upward trajectory, with a projected Compound Annual Growth Rate (CAGR) of 3.7%, ultimately reaching $15 billion by 2029.
Technological Advancements: Continuous updates and improvements to medical devices in the infusion therapy market are driving up overall Average Selling Prices (ASPs) as newer devices offer added benefits over older ones. Furthermore, devices with expanded functionality tend to experience higher demand and uptake, positively impacting unit sales.
Bundled Sales: Many consumers of intravenous (IV) pumps demand the highest levels of safety and precision, even for mature and commoditized products. Consequently, most IV pump manufacturers are now offering bundled IV therapy solutions that go beyond pumps and include dedicated IV lines, catheters, and in-line filters. This approach aligns with buyer expectations and aims to boost sales.
Competitive Landscape: iData’s report provides an in-depth analysis of the competitive landscape, profiling key players and their strategic initiatives. Companies are concentrating on innovation, forming partnerships, and engaging in mergers to strengthen their market positions and gain a competitive edge. Currently, Becton Dickinson (BD) and B. Braun lead the global infusion therapy market, with Baxter and ICU Medical following closely. While these latter companies compete across multiple segments, they lack the brand recognition of BD and B. Braun.
For more information on the Global Infusion Therapy Device Market, and to access the complete iData Research report, please visit:
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Article originally published on www.einpresswire.com as Global Infusion Therapy Market Projected to Reach $15 Billion by 2030 Fueled by Emerging Markets