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Market Analysis: Infusion Pumps

The report by the Millennium Research Group predicts that growth in the U.S. market for infusion pumps through 2017 will be largely driven by government initiatives.

Sat Mar 01 2014By Medical Dealer Magazine

Market Analysis: Infusion Pumps

Medical Dealer Magazine | Market Analysis | Med/Surg

 

by John Wallace

Several reports on the infusion pump market in the United States forecast continued growth. An aging population and an increase in the number of obese Americans being admitted to hospitals is expected to create a boost in the demand for infusion therapy.

“An external infusion pump is a medical device used to deliver fluids into a patient’s body in a controlled manner,” according to the U.S. Food and Drug Administration. “There are many different types of infusion pumps, which are used for a variety of purposes and in a variety of environments.”

“Infusion pumps may be capable of delivering fluids in large or small amounts, and may be used to deliver nutrients or medications – such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers,” according to the FDA website. “Some infusion pumps are designed mainly for stationary use at a patient’s bedside. Others, called ambulatory infusion pumps, are designed to be portable or wearable.”

A number of commonly used infusion pumps are designed for specialized purposes, including enteral pumps, patient-controlled analgesia pumps and insulin pumps.

The U.S. infusion pump market is expected to reach $3.6 billion by 2017, according to Millennium Research Group.

The report by the Millennium Research Group predicts that growth in the U.S. market for infusion pumps through 2017 will be largely driven by government initiatives.

“An uptake in sales of infusion pumps with smart capabilities that can be integrated with electronic medical record systems will be fueled by incentive funding from the Health Information Technology for Economic and Clinical Health act, while purchases of infusion pumps designed specifically for pain management will be encouraged by Centers for Medicare and Medicaid Service incentive bonuses,” according to a Business Wire news release about the Millennium Research Group report.

The news release states that healthcare facilities and doctors can qualify for incentive funding by demonstrating meaningful use of healthcare information technology, which includes infusion pumps that offer interoperability with EMR systems.

“Infusion pumps designed specifically for pain management, hospital electronic ambulatory pumps and high-end pain management syringe pumps will see growth driven by the desire of healthcare facilities to boost their Hospital Consumer Assessment of Healthcare Providers and Systems scores,” according to the report. “One area the HCAHPS survey scores is patient responses to pain management. HCAHPS scores determine CMS incentive bonuses under Medicare’s Hospital Value-Based Purchasing program. In addition, pain is a frequent cause of hospital readmission, and CMS can now penalize hospitals with a substantial number of readmissions by reducing payments.

Read the full article in the March 2014 issue of Medical Dealer Magazine 

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