Latin America Infusion Pumps Market Overview:
Latin America Infusion Pumps Market was
valued at USD 963.1 million in 2018 and projected to reach USD 1,562.5 million
by 2025 growing at a CAGR of 7.31% during the forecast period 2018 to 2025.
Infusion pumps are external devices used in
health services to administer medications, nutrients and liquids to the
patient's body in precise quantities and controlled by intravenous, subcutaneous
and arterial routes. Infusion pumps are of two types: one for stationary use
and the other for portable use. Fixed infusion pumps are used in hospitals for
patients. Portable infusers can be used while traveling. In general, infusion
pumps are preferred for the treatment of analgesics, chemotherapy drugs,
liquids and insulin. Because patients who use these medications require a
precise and conditional dose.
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Latin America Infusion Pumps Market - Drivers and Restraints:
Infusion pumps are used in
the treatment of chronic disorders to administer medications such as
chemotherapy and diabetes. They play an important role in the administration of
specific medications in these disorders. In recent years, the prevalence rate
of chronic disorders is increasing, and the rapid growth of technology in
health care also leads to health awareness. As a result, the use of infusion
pumps has increased in many regions, including Latin America. Advantages such
as technology, security features, shapes and sizes of devices also stimulate
market growth. Although infusers with certain adverse events may be the result
of user error, many of the events reported are related to design flaws in the
device and software, which can create problems on their own or contribute to a
user error.
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Geographical Analysis:
The infusion pump market is expected
to grow rapidly in the Latin America at the second highest CAGR after the Asia
Pacific. This is largely due to the growing prevalence of chronic diseases,
increasing demand for advanced medical treatment, and the growing healthcare
market in the region. The increasing demand for premium-priced infusion pump
systems, to enhance the quality of care for patients, is anticipated to play a
key role in the market in Latin America in the future years.
Some of the key players in this regional
market are Hospira Inc, CareFusion Corporation, Baxter International, Inc.
Medtronic, Inc, Smiths Medical, Fresenius Kabi AG, Braun Melsungen AG, Terumo
Corporation Nipro Corporation and Codman & Shurtleff, Inc.
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