Introduction to Blood Infusion System
The blood infusion system is the medical mechanism which is used for delivering blood to the patients under administered positive pressure. The systems are intensively used in the healthcare sector owing to available range and current integration with computer technology providing them a wide application range to cater. There are millions of systems that are used for different end uses. For instance, in hospitals, clinics, home setting and many more. The earliest of the blood infusions involved taking the blood, followed by cleaning process and then re-ejecting it. The blood infusion also helps to embed other substances into the blood stream in order to generate fortifying response. The infusion can be slow or rapid depending upon the effectiveness and absorption level required.
Market Size and Forecast
The global blood infusion system market is anticipated to witness a significant growth over the forecast period i.e. 2019-2027 owing to increase in chronic and fatal diseases coupled with rise in technological advancements. The increase in death tolls with 70% deaths in 2018 due to fatal disease as recorded by WHO is expected to increase the product demand. The increase in geriatric population and inclination towards unhealthy lifestyle is anticipated to drive the market growth during forecast period owing to rise in cardiovascular and neurological disorders. It has been notified that, 20% of the total population suffers from severe heart disease which is expected to increase in the upcoming years, hence the surge in need for blood infusion systems is anticipated during the forecast period.
The market is segmented by type, route of administration and end user type. The type segment is further segmented into syringe, volumetric, ambulatory and others, out of which the volumetric segment is expected to have leading shares of around 38% during the forecast period owing to their ability to infuse large substances and integration with computerized systems. The volumetric systems allow medication flow to be at different rates according to patient’s need using a computer controlled roller or set of fingers. The end user segment is further divided into hospitals, clinics, research and labs, ambulatory surgical centers and home care setting, out of which the hospitals segment is anticipated to have significant market growth owing to wide application area to cater coupled with the fact that hospitals are multi-specialty and have number of healthcare infrastructure facilities with availability of advanced features for functioning of blood infusion systems.
Growth Drivers
Medical Advancements
The medical advancement in blood infusion system has resulted in computer technology integrated systems which have sophisticated drug delivery mechanism. Wireless technology has enabled the wide use of systems across the healthcare industry especially in those cases where patients require constant dosage with regular day to day activities. Constant up gradation in the traditional blood infusion system has made home care setting possible leading to improved patient transition and patient care & services driving the market growth positively.
Rise in the Geriatric Population and Chronic Disease
The geriatric population has been increasing over the year, with around 980 million people in 2018. The rise in population has led to increasing cases of cardiovascular disease, diabetes and neurological disorders owing to which there has been a surge in product demand. The inclination towards unhealthy lifestyle with improper eating habits is anticipated to drive the market growth during the forecast period owing to increase in chronic and fatal diseases for instance, cancer, immunity deficiency, inflammatory disease and many more at an early age.
Government Investments
The government investments in healthcare sector in order to provide better healthcare facilities for the remediation is anticipated to increase the market growth. Additionally, the government is investing more to promote and increase general public awareness regarding various diseases and disorders which is expected to improve the product demand.
Restraints
Limitations and Barriers
The programming errors that create discrepancies between the required amount and the infused amount has resulted in a serious health issue. The patient safety concerns has been a constant fear with the use of these systems creating hindrance in the market growth. The infusion although provide instant short term relief however, these are not sustained by body for long thus creating the need for constant infusions over the time. Additionally, the use of blood infusion have side effects ranging from simple nausea to high level body discomfort coupled with systematic shocks owing to introduction of new substance.
Market Segmentation
Our-in depth analysis of the blood infusion system market includes the following segments:
By Type
- Syringe
- Volumetric
- Ambulatory
- Others
By Route of Administration
- Intravenous
- Subcutaneous
- Intra-Muscular
- Epidural Space
- Others
By End User
- Hospitals
- Clinics
- Research and Labs
- Ambulatory Surgical Centers
- Homecare Setting
By Region
On the basis of regional analysis, blood infusion system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is anticipated to have leading shares owing to presence of major market players in the region. The rise in the geriatric population coupled with unhealthy lifestyle leading to rise in chronic disease is anticipated to drive the market growth. The increase in research and development activities coupled with government and private sector investment in health care industry is expected to boost the product demand. Europe region is expected to witness market growth on the back of improved healthcare facilities and rise in cases of neurological, cardio-vascular and cancer in the region on the back of their unhealthy lifestyle and eating habits. Asia-Pacific is expected to witness significant market growth on the back of prevalence of rise in geriatric population in the region leading to increased cases of age dependent chronic diseases. The increased disposable income, better healthcare facilities and improvement in economic conditions are expected to fuel the market growth during the forecast period.
The blood infusion system market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating the Market
- Keifel Medical
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- Baxter
- B. Braun Melsungen
- CareFusion
- Medtronic plc.
- Iradimed Corporation
- Moog Inc.
