The global infusion pump software market is expected to grow at a CAGR of 6% during the forecast period. Infusion pumps are medical devices that supply nutrients and medicines such as antibiotics, chemotherapy drugs, insulin or other hormones, and pain relievers into the patient's body with controlled dosages. Majority of the infusion pumps are directed by software that controls the pumping mechanism and other key safety functions. Software embedded in these pumps enables safe and convenient use of infusion pumps. These devices are widely used in hospitals, clinics, and ambulatory care settings. The increasing prevalence of chronic diseases and advancements in infusion pump software are some of the major factors encouraging the growth of the global infusion pump software market. However, rising infusion pump recalls are restricting the market growth.

A significant rise in the prevalence of diabetes and cancer have witnessed across the globe. For instance, according to the World Health Organization (WHO), the global cancer burden is anticipated to have increased to 18.1 million new incidences and 9.6 million mortalities in 2018. One in five men and one in six women globally develop cancer during their lifetime. This may drive the demand for chemotherapy pumps, which is also referred to as infusion pumps. These pumps deliver a controlled amount of chemotherapy drugs into the bloodstream of the patients. The treatment is considered safe and effective for cancer patients and therefore, it is one of the preferred treatments for cancer patients. This, in turn, is contributing to the demand for infusion pump software to optimize infuse management practices. In addition, the platform enables to identify, track, and ultimately prevent several harmful intravenous medication errors. As a result, it reduces certain medical errors and offers better patient outcomes.

Segment Outlook

The global infusion pump software market is segmented on the basis of type and end-user. Based on type, the market is further classified into DERS, clinical workflow software, and interoperability software. Based on the end-user, the market is further segmented into hospitals & clinics, ambulatory care settings, and others.

Global Infusion Pump Software Market, By End-User

Infusion pumps are being widely used in hospitals and clinics for the treatment of multiple chronic conditions. Generally, a trained user operates the infusion pump in order to program the rate and duration of fluid delivery with a built-in software interface. Due to the availability of skilled professionals, patients opt for hospitals for treatment of their chronic conditions. This, in turn, is encouraging the demand for infusion pumps in hospitals that are equipped with software that can assist professionals while taking point-of-care decisions. Infusion pump software delivers appropriate medications or nutrients, including antibiotics, chemotherapy, insulin or other hormones, and pain relievers.  The software incorporates dosing limits and instrument configuration parameters on the basis of hospital/facility protocol. In addition, there is an increased focus on patient safety in hospitals and clinics which in turn is leading to increasing demand for advanced software in hospitals to make more better and informed decisions.

Global Infusion Pump Software Market Share by Application, 2018 (%)

Regional Outlook

Geographically, the global infusion pump software market is segmented into four major regions; North America (the US and Canada), Europe (UK, Germany, Italy, France, Spain, and Rest of Europe), Asia-Pacific (Japan, India, China, and Rest of Asia-Pacific), and RoW. The rising number of surgeries performed in hospitals and ambulatory care settings, rising demand for diabetes management software are contributing to the market growth in these regions.

Global Infusion Pump Software Market Growth by Region, 2019-2025

Asia-Pacific is Estimated to Witness Lucrative Growth in the Market During the Forecast Period

Asia-pacific is anticipated to witness lucrative growth in the market during the forecast period due to the rising prevalence and incidence of chronic disease in the region. For instance, according to the WHO, in contrast to other regions of the globe, the proportions of cancer mortality in Asia and Africa (57.3% and 7.3%, respectively) are higher than the proportions of incident cases (48.4% and 5.8%, respectively) in 2018. Limited access to timely diagnosis and treatment is a major cause for higher cancer mortalities in these regions. Due to such a rise in cancer mortalities, the government is actively working towards developing awareness among people for cancer. As an instance, since 1987, the Indian Cancer Society has conducted more than 5,000 Cancer Awareness Programs which have benefited more than 6, 35,000 participants. This, in turn, is anticipated to increase awareness among people for early diagnosis and treatment of the condition at an early stage that can increase their survival rate. As a result, it may drive the demand for infusion pump software for use in chemotherapy for the treatment of cancer patients.

Competitive Landscape

The major players in the market include Becton, Dickinson & Co., ICU Medical, Inc., B. Braun Melsungen AG, Baxter International, Inc., and Medtronic PLC.  Some major strategies adopted by these companies include mergers and acquisitions, partnerships and collaboration, and product launches. With this, the firms are aimed at increasing their market share and gaining a competitive advantage over competitors. For instance, in May 2018, Baxter International, Inc. received the US FDA clearance for Spectrum IQ Infusion System with Dose IQ safety software. With this launch, the company offers first-of-its-kind software technology and standardized user experience that can support to reduce programming errors and increase patient safety. For Spectrum IQ Infusion System, the company collaborated with First Databank (FDB) to incorporate FDB Infusion Knowledge, an evidence-based library of IV medications into Dose IQ safety software to ensure safer delivery of infusions. With the growing focus on appropriate delivery of fluids in patients’ body, the demand for this solution is anticipated to rise significantly in the near future.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global infusion pump software market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.