#Infusion Pump Software Market Growth
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The Future of the Infusion Pump Software Market: Trends to Watch
Infusion Pump Software Market Outlook, Scope & Overview:
Industry reports indicate that the global infusion pump software market was valued at USD 10.2 billion in 2023 and is projected to reach USD 14.72 billion by 2031, growing at a CAGR of 4.7% over the forecast period 2024-2031.
Technological Advancements to Drive Growth of Global Infusion Pump Software Market
The adoption of advanced infusion pump software solutions will continue to influence global market revenues. Healthcare professionals are increasingly turning to infusion pump software due to its effectiveness in ensuring accurate and efficient delivery of medications.
As a product segment, infusion pump software currently holds a significant share of the global infusion pump software market. This segment is anticipated to grow at a year-over-year rate of 4.7% in 2024 over 2023 and reach USD 12 billion in revenues by 2031. A substantial increase in the demand for infusion pump software is expected, driven by factors such as increasing prevalence of chronic diseases, advancements in software technology, and the rising need for precision in drug delivery.
Infusion Pump Software – Market Dynamics
Drivers:
Infusion pump software is witnessing significant growth in the global market due to its ability to enhance the accuracy and safety of medication administration. The use of advanced software solutions in infusion pumps has improved patient outcomes, driving the demand for these products worldwide. Additionally, the rising prevalence of chronic diseases requiring long-term medication management is leading to higher adoption of infusion pump software in hospitals and home care settings.
Restraints:
Despite the growth potential, challenges such as the high cost of infusion pump software systems and concerns regarding software malfunctions and cybersecurity threats are hindering the widespread adoption of these solutions. Moreover, the need for extensive training and technical expertise to operate advanced infusion pump software can act as a barrier to market growth.
Infusion Pump Software – Market Outlook
The effective outcomes observed from the use of infusion pump software in enhancing medication delivery and patient safety have contributed to the market's growth. Infusion pump software solutions are projected to witness a steady increase in demand, particularly in developed regions where healthcare infrastructure and awareness are higher.
Global Infusion Pump Software Market
The rise in demand for infusion pump software in North America, Europe, and Asia Pacific regions is expected to drive market growth over the forecast period. North America currently holds a significant market share in the global infusion pump software market, with the US being a key contributor to market revenues. Europe and Asia Pacific regions are also experiencing a surge in demand for infusion pump software, fueled by advancements in healthcare technology and increasing investments in healthcare infrastructure.
Key Players in the Infusion Pump Software Market
Leading companies in the infusion pump software market include B. Braun Melsungen AG, Baxter International Inc., BD (Becton, Dickinson and Company), and ICU Medical, Inc. These companies offer a range of infusion pump software solutions, including advanced drug libraries, safety features, and integration capabilities with electronic health records (EHRs).
In conclusion, the global infusion pump software market is poised for steady growth over the forecast period, driven by technological advancements, increasing prevalence of chronic diseases, and the growing need for precision in medication delivery.
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#Infusion Pump Software Market#Infusion Pump Software Market Size#Infusion Pump Software Market Share#Infusion Pump Software Market Trends#Infusion Pump Software Market Growth#Infusion Pump Software Market Analysis#Infusion Pump Software Market Outlook
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Excerpt from this story from Canary Media:
Octopus Energy has surged to the top of the U.K. electricity market with its plucky brand of clean, flexible, customer-centric energy. Now it’s loading up on new investment to make a broader push into North America.
The sprawling clean energy startup pulled in two new investments in recent weeks. On May 7, it announced a re-up from existing investors, including Al Gore’s Generation Investment Management and the Canada Pension Plan. Last week, it added a new round from the $1 billion Innovation and Expansion Fund at Tom Steyer’s Galvanize Climate Solutions. The parties did not disclose the size of the new infusions but said that they lift Octopus’ private valuation to $9 billion. Previously, Octopus raised an $800 million round in December, putting its valuation at $7.8 billion. Thus, eight-year-old Octopus enters the summer of 2024 as one of the most valuable privately held startups in the world, but one whose impact is felt far more in Europe than in the U.S. The new influx of cash will help fund expansion in North America, both by growing its retail foothold in Texas and by ramping up sales of the company’s marquee Kraken software to other utilities. The company has its work cut out if it wants to reproduce its U.K. market dominance across the pond.
“It is a Cambrian explosion of exciting growth in almost every direction,” Octopus Energy U.S. CEO Michael Lee told Canary Media last week.
In the U.K., Octopus has gobbled its way up the leaderboard of electricity retailers, consuming competitors large and small until it reached the No. 1 slot this year. It supplies British customers in part with clean power from a multibillion-dollar portfolio of renewables plants that it owns. The company lowers costs to customers by using smart devices or behavioral nudges to shift their usage to times when the renewables are producing the most cheap electricity. Octopus also began making its own heat pumps, to help households break out of dependence on fossil gas at a volatile time.
In the U.S., land of free markets and capitalist competition, market design largely blocks Octopus from rolling out its innovations, and instead protects the monopoly power of century-old incumbent utilities. There is no national electricity market to take over, but a state-by-state hodgepodge of fiefdoms that obey differing rules. So Octopus made its first stand in Texas, whose competitive power market most closely resembles the U.K.’s system. It now sources power for tens of thousands of retail customers in the state.
“It is absolutely clear to me that the energy transition is happening first in Texas,” Lee said. “This is a fantastic market to be in if you know how to work with customers and help them be a central focus in providing that energy transition to the grid.”
Such an assertion might have elicited derisive snorts from Californians or New Yorkers a few years ago, but facts on the ground now support Lee’s thesis.
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Intravenous Infusion Pumps Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033
The intravenous infusion pumps global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Intravenous Infusion Pumps Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size - The intravenous infusion pumps market size has grown strongly in recent years. It will grow from $5.71 billion in 2023 to $6.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to advances in medical technology, aging population, home healthcare services, hospital and healthcare facility expansion, regulatory standards.
The intravenous infusion pumps market size is expected to see strong growth in the next few years. It will grow to $8.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to increasing chronic disease burden, technological innovation, home infusion services, telehealth and remote monitoring. Major trends in the forecast period include smart infusion pumps, wireless and remote monitoring, home infusion therapy, precision medicine and personalized infusion.
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The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers - The rise in the prevalence of people with chronic pain, cancer, and diabetes is a significant driver of the demand for intravenous infusion pumps, as these pumps are commonly used to deliver pharmaceutical drugs during the treatment of these diseases. Chronic illnesses and disorders are on the rise around the world, which can be attributed to an aging population and shifts in social behavior that led to a gradual increase of these widespread and expensive long-term medical issues. Infusion pumps are used to transfer regulated doses of nutrients or drugs into a patient's body, such as chemotherapy medicines, pain relievers, antibiotics, insulin, or other hormones. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australia-based autonomous statutory agency tasked with obtaining and analyzing data and making factual recommendations to local, national, and territorial governments, almost fifty percent of the population (46.6%, or 11.6 million) suffered from at least one chronic illness. Therefore, the rise in the prevalence of chronic diseases is expected to drive the growth of the intravenous infusion pumps market.
The intravenous infusion pumps market covered in this report is segmented –
1) By Product: Volumetric, Syringe, Enteral, Ambulatory, IV Disposables, Other Products 2) By Application: Chemotherapy, Diabetes, Gastroenterology, Analgesia/Pain Management, Pediatrics/Neonatology, Hematology, Other Applications 3) By End-User: Hospitals, Ambulatory Surgical Centers, Cancer Treatment Centers, Specialty Clinics, Other End Users
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Regional Insights - North America was the largest region in the intravenous infusion pumps market in 2023. Western Europe was the second-largest region in the intravenous infusion pumps market. The regions covered in the intravenous infusion pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies - Major companies operating in the intravenous infusion pumps market include B. Braun Melsungen AG, Baxter International Inc., Medtronic plc, Fresenius Kabi AG, Smiths Medical Inc., Becton Dickinson and Company (BD), Terumo Corporation, F. Hoffmann-La Roche Ltd., ICU Medical Inc., IRadimed Corporation, Mindray Medical International Limited, Zyno Medical LLC, Tandem Diabetes Care Inc., Johnson & Johnson, Micrel Medical Devices SA, Boston Scientific Corporation, Pfizer Inc., Q-Core Medical Ltd., Moog Inc., Roche Diagnostics International AG, Nipro Corporation, Animas Corporation, Ypsomed Holding AG, Valeritas Inc., ZOLL Medical Corporation, Codan Medical A/S, Halyard Health Inc., InfuSystem Holdings Inc., Hospira Infusion Systems, CareFusion Corporation
Table of Contents 1. Executive Summary 2. Intravenous Infusion Pumps Market Report Structure 3. Intravenous Infusion Pumps Market Trends And Strategies 4. Intravenous Infusion Pumps Market – Macro Economic Scenario 5. Intravenous Infusion Pumps Market Size And Growth ….. 27. Intravenous Infusion Pumps Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix
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Consumer Trends and Their Influence on ICU Market Size
The Intensive Care Unit (ICU) Market size was valued at $ 7.08 Bn in 2023 and is expected to reach $ 9.85 Bn by 2031, and grow at CAGR of 4.21% over the forecast period of 2024-2031.The Intensive Care Unit (ICU) market is experiencing rapid growth, driven by the rising prevalence of chronic diseases, advancements in medical technology, and an aging global population. Innovations in patient monitoring systems, ventilators, and infusion pumps are enhancing ICU capabilities, making them more efficient and effective. The demand for specialized care and personalized treatment plans is also propelling the market, as hospitals and healthcare providers invest in state-of-the-art ICU infrastructure to improve patient outcomes. Furthermore, the COVID-19 pandemic has underscored the critical importance of well-equipped ICUs, leading to increased government funding and private investments aimed at expanding and upgrading these vital units. As a result, the ICU market is poised for significant expansion, with a focus on improving healthcare accessibility and quality worldwide.
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Market Scope & Overview
The authentic market data supports critical decision-making for growth and profitability as well as performance monitoring. By concentrating on markets, materials, capacities, technologies, and the shifting make-up of the global Intensive Care Unit Market, the market research report provides information on trends and developments. New vendors entering the market are having a hard time competing with the overseas suppliers due to their higher quality, dependability, and technological advancements.
In this market research report, the most recent research provides a thorough overview and in-depth market analysis. The competition in the Intensive Care Unit Market grows along with sector expansion and technological innovation. For a wide range of end users, a huge number of regional and local producers also offer specialized application goods.
Market Segmentation Analysis
By Type
Intensivist
Open with Consultants
By Component
Hardware
Software
COVID-19 Pandemic Impact Analysis
In order to give clients accurate information to address market challenges during and after the COVID-19 pandemic, several industry experts and delegates are interviewed for a report on the Intensive Care Unit Market during the primary and secondary research phases. The market dynamics during the forecast period are examined in-depth, along with observations of significant changes over time, in this market research analysis.
Regional Outlook
In addition to observations, the Intensive Care Unit Market research report also includes a quick scan of potential competitors and a competition analysis. The study report includes analyses of the regional business environment, market dynamics and drivers, opportunities and challenges, risk and entry barriers, and production and distribution networks in addition to Porter's five forces analysis.
Competitive Analysis
A quantitative evaluation of the market's condition by registration, organizational setup, and geographic regions makes up the primary research report. The focus of Intensive Care Unit Market research should be on current developments, future prospects, and market trends globally. The study looks into the potential for local growth and offers a thorough analysis of a number of industries.
Key Questions Answered in the Intensive Care Unit Market Report
Which regional market will offer the most lucrative opportunities in the coming years?
What marketing tactics can businesses in developed regions use to gain a competitive edge?
What marketing strategy affects a company's market share the most?
Conclusion
The Intensive Care Unit Market research report looks at the economic situation of the target industry as well as showing that there is a robust market and inclusive demand.
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Global Advanced Infusion System Market : A Deep Dive into Key Drivers and Trends
The advanced infusion system market is on a significant growth trajectory, with its valuation anticipated to rise from USD 8,862.8 million in 2023 to an impressive USD 16,536.9 million by 2033. This substantial growth is expected to occur at a compound annual growth rate (CAGR) of 6.4% over the forecast period.
Advanced infusion systems play a critical role in modern healthcare, providing precise and controlled delivery of medications, nutrients, and other fluids to patients. These systems are essential for a wide range of medical treatments, including chemotherapy, pain management, and critical care.
Since advanced infusion systems are widely used to administer drugs and fluids to patients for therapeutic purposes, their utilization has increased. The most popular methods for administering fluids with the use of an infusion system include enteral, subcutaneous, epidural, and intravenous.
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Precise Dosing and Enhanced Patient Safety: Advanced Infusion Systems Take Center Stage
The global advanced infusion systems market is experiencing significant growth, driven by the growing demand for accurate and controlled medication delivery. These advanced systems offer significant advantages over traditional methods, promoting wider adoption within the healthcare field.
Tailored Treatments for Diverse Needs
Advanced infusion systems allow for the administration of fluids and medications through various routes, including:
Subcutaneous: Delivery of medication just beneath the skin.
Epidural: Delivery of medication into the epidural space, near the spinal cord.
Enteral: Delivery of nutrition directly into the stomach or small intestine.
Intravenous: Delivery of medication directly into the bloodstream.
Key Takeaways:
The global advanced infusion systems market is projected to reach US$16,536.9 million by 2033, reflecting a significant rise from US$8,862.8 million in 2023.
This growth is anticipated at a healthy compound annual growth rate (CAGR) of 6.4% throughout the forecast period.
The increasing adoption of advanced infusion systems for precise and controlled drug delivery is a key driver for market expansion.
Competitive Landscape:
Important Market Players Making Various Efforts to Gain an Advantage
The major players in the market for advanced infusion systems are always working together and putting out great effort to develop high-end infusion systems that will help patients by providing them with more sophisticated and equipped solutions.
Recent Developments
In January 2020, Medtronic (Ireland) Launched Efficio, a cloud-based data management software, for use with the SynchroMed II intrathecal drug delivery system. This enables clinicians to efficiently manage their targeted drug delivery pump practices to treat patients with chronic pain, cancer, and severe spasticity.
In March 2020, Q Core Medical Company opened a new manufacturing unit in Europe to capitalize on the opportunities offered by the advanced infusion systems market due to the increasing geriatric population and increasing demand for the adoption of infusion systems in healthcare, therapeutic effectiveness, and reliability.
Key Companies Profiled:
TERUMO CORPORATION
AIS HealthCare
B. Braun Medical Ltd
Medtronic
Baxter
MOOG INC.
armed ag
AVA Biomedical
BD
Smiths Group plc.
Advanced Infusion System Market:
By Product:
Elastomeric Infusion System
Volumetric Infusion System- Large Volume and Small Volume Pump
Patient Controlled Analgesia pump
Disposable Infusion System
Syringe Infusion System
Ambulatory Infusion System
Implantable Infusion System
By Application:
Chemotherapy
Diabetes
Pain management
Asthma
Clinical Nutrition
By End User:
Hospitals
Ambulatory Surgical Centers
Diagnostic centers
Bedside
By Region:
North America
Latin America
Europe
South Asia & Pacific
East Asia
The Middle East & Africa (MEA)
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Analgesic Infusion Pumps Market to See Huge Growth by 2030
The Latest research coverage on Analgesic Infusion Pumps Market provides a detailed overview and accurate market size. The study is designed considering current and historical trends, market development and business strategies taken up by leaders and new industry players entering the market. Furthermore, study includes an in-depth analysis of global and regional markets along with country level market size breakdown to identify potential gaps and opportunities to better investigate market status, development activity, value and growth patterns. Access Sample Report + All Related Graphs & Charts @: https://www.advancemarketanalytics.com/sample-report/5640-global-analgesic-infusion-pumps-market
Major & Emerging Players in Analgesic Infusion Pumps Market:- Becton Dickinson (United States), Baxter (United States), Medtronic (Ireland), ICU Medical (United States), B. Braun (Germany), Fresenius Kabi (Germany), Smiths Medical (United States), Terumo Corporation (Japan), Roche Diagnostics (Switzerland), Halyard Health (United States), Mindray Medical (China). The Analgesic Infusion Pumps Market Study by AMA Research gives an essential tool and source to Industry stakeholders to figure out the market and other fundamental technicalities, covering growth, opportunities, competitive scenarios, and key trends in the Analgesic Infusion Pumps market. Analgesic infusion pumps are usually plastic handheld devices which consist of a disposable syringe or a disposable, collapsible bag reservoir. It is a mechanism for propelling the infusate also called as a flowcontrol mechanism and is a means of displaying alarm conditions and/or user prompts. Analgesic infusion pumps are medical devices are used for controlling pain by delivering analgesic drugs to the patient through infusion pumps. Electronic models are powered by batteries, some comprises of software to help prevent medication errors. Most pumps are available with a case or pouch that can be attached to a belt.
The FDA announced three steps it would take to improve infusion pump safety. These steps were to (1) increase user awareness, (2) proactively facilitate device improvements, and (3) publish new guidance for industry. The titled segments and sub-section of the market are illuminated below: by Type (Volumetric, Ambulatory, Syringe), Application (Hospitals, Home Care, Ambulatory Care), Distribution Channel (Online, Offline) Market Trends: Technological advancements in the product
Government encouraging home healthcare therapies
Opportunities: Growing adoption of specialty infusion systems
Market Drivers: Increasing prevalence of chronic diseases
Growing home care market for infusion systems
Challenges: Growing incidence of medication errors Enquire for customization in Report @: https://www.advancemarketanalytics.com/enquiry-before-buy/5640-global-analgesic-infusion-pumps-market Some Point of Table of Content: Chapter One: Report Overview Chapter Two: Global Market Growth Trends Chapter Three: Value Chain of Analgesic Infusion Pumps Market Chapter Four: Players Profiles Chapter Five: Global Analgesic Infusion Pumps Market Analysis by Regions Chapter Six: North America Analgesic Infusion Pumps Market Analysis by Countries Chapter Seven: Europe Analgesic Infusion Pumps Market Analysis by Countries Chapter Eight: Asia-Pacific Analgesic Infusion Pumps Market Analysis by Countries Chapter Nine: Middle East and Africa Analgesic Infusion Pumps Market Analysis by Countries Chapter Ten: South America Analgesic Infusion Pumps Market Analysis by Countries Chapter Eleven: Global Analgesic Infusion Pumps Market Segment by Types Chapter Twelve: Global Analgesic Infusion Pumps Market Segment by Applications What are the market factors that are explained in the Analgesic Infusion Pumps Market report?
– Key Strategic Developments: Strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors.
– Key Market Features: Including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin.– Analytical Tools: The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market. Buy This Exclusive Research Here: https://www.advancemarketanalytics.com/buy-now?format=1&report=5640 Definitively, this report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market. Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia. Contact US : Craig Francis (PR & Marketing Manager) AMA Research & Media LLP Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: +1 201 565 3262, +44 161 818 8166 [email protected]
#Global Analgesic Infusion Pumps Market#Analgesic Infusion Pumps Market Demand#Analgesic Infusion Pumps Market Trends#Analgesic Infusion Pumps Market Analysis#Analgesic Infusion Pumps Market Growth#Analgesic Infusion Pumps Market Share#Analgesic Infusion Pumps Market Forecast#Analgesic Infusion Pumps Market Challenges
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Durable Medical Equipment (DME) Market Share, Trends, Report 2024-2032
IMARC Group's report titled "Durable Medical Equipment (DME) Market Report by Product (Personal Mobility Devices, Bathroom Safety Devices and Medical Furniture, Monitoring and Therapeutic Devices), End Use (Hospital, Nursing Homes, Home Healthcare, and Others), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global embedded software market share. The global durable medical equipment (DME) market size reached US$ 217.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 356.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/durable-medical-equipment-market/requestsample
Factors Affecting the Growth of the Durable Medical Equipment (DME) Industry:
Prevalence of Chronic Diseases:
Chronic diseases, such as diabetes, cardiovascular diseases, chronic obstructive pulmonary disease (COPD), and arthritis, require continuous monitoring and management. Patients often need devices like glucometers, blood pressure monitors, pulse oximeters, and respiratory equipment to monitor their condition and manage symptoms at home. Many chronic diseases, especially those affecting the musculoskeletal system or causing mobility impairment, necessitate the use of supportive devices for mobility and independence. This includes wheelchairs, walkers, canes, and mobility scooters, which enable individuals with conditions like arthritis or multiple sclerosis to maintain mobility and perform daily activities.
Technological Advancements:
Innovations in technology enable the development of innovative DME products with enhanced features, improved functionality, and greater patient comfort. The integration of sensors, wireless connectivity, and smart algorithms in devices, such as insulin pumps, continuous glucose monitoring (CGM) systems, and wearable health monitors, improves their accuracy, usability, and effectiveness in managing chronic conditions. Technological advancements are leading to the miniaturization and portability of DME devices, making them more convenient and accessible for patients.
Shift towards Home Healthcare:
Many patients prefer receiving healthcare services in the comfort and familiar environment of their own homes. The shift towards home healthcare allows individuals to avoid the inconvenience, discomfort, and potential exposure to infections associated with hospital or clinic visits, driving the demand for DME products that support home-based care. Home healthcare is often more cost-effective as compared to institutional care, as it reduces healthcare expenditures associated with hospital stays, outpatient visits, and long-term care facilities. DME products enable patients to receive necessary medical treatment, monitoring, and rehabilitation services at home, leading to cost savings for healthcare systems, payers, and patients.
Leading Companies Operating in the Global Durable Medical Equipment (DME) Industry:
ArjoHuntleigh
Becton
Dickinson and Company
General Electric Company
GF Health Products Inc.
Hill-Rom Services Inc.
Invacare Corporation
Koninklijke Philips NV
Medical Device Depot Inc.
Medline Industries Inc.
Medtronic PLC
Omron Corporation
Siemens Healthineers AG (Siemens AG)
Stryker Corporation.
Durable Medical Equipment (DME) Market Report Segmentation:
By Product:
Personal Mobility Devices
Wheelchairs
Scooters
Walker and Rollators
Cranes and Crutches
Door Openers
Others
Bathroom Safety Devices and Medical Furniture
Commodes and Toilets
Mattress and Bedding Devices
Monitoring and Therapeutic Devices
Blood Sugar Monitors
Continuous Passive Motion (CPM)
Infusion Pumps
Nebulizers
Oxygen Equipment
Continuous Positive Airway Pressure (CPAP)
Suction Pumps
Traction Equipment
Others
Personal mobility devices represent the largest segment due to the increasing elderly population and the growing demand for mobility aids, such as wheelchairs, scooters, and walkers, to maintain independence and improve quality of life.
By End Use:
Hospital
Nursing Homes
Home Healthcare
Others
Hospitals account for the majority of the market share owing to their role as primary healthcare providers, requiring a wide range of DME equipment for patient care, rehabilitation, and medical procedures.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
North America enjoys the leading position in the durable medical equipment (DME) market on account of a well-established healthcare infrastructure, high healthcare expenditure, favorable reimbursement policies, and a large aging population with chronic health conditions.
Global Durable Medical Equipment (DME) Market Trends:
The adoption of telemedicine and remote monitoring solutions is rising, driving the demand for DME products with remote monitoring capabilities, such as wearable health trackers, telehealth platforms, and home monitoring kits. There is a growing demand for personalized and customized DME solutions tailored as per individual patient needs, preferences, and medical conditions, driving innovations in product design, manufacturing, and service delivery.
Emerging markets are experiencing rapid economic growth, urbanization, and investments in healthcare infrastructure, presenting significant growth opportunities for DME manufacturers and suppliers to expand their presence in these regions.
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Global High Acuity Information Solutions Research Methodology Forecast to (2017-2025)
The High Acuity Information Systems (HAIS) are integrated computer based platforms comprising both software as well as hardware (patient monitoring machines) to aid healthcare providers manage their patients more effectively. The need of these systems arise due to the rising number of patient admissions to different departments of a hospital such as critical care/intensive care unit(ICU), emergency department (ED) and operation theatre (OT). Other factors such as rising number of medical errors, rapidly aging population, and favorable government initiatives to implement health IT are also facilitating the growth of the market.
Market Overview:
The global high acuity market has experienced significant expansion in recent years, driven by factors such as increasing prevalence of chronic diseases, a growing aging population, and a rising demand for advanced healthcare solutions. The market comprises a diverse range of products, including patient monitoring systems, infusion pumps, ventilators, and other critical care devices.
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Key Market Trends:
Technological Advancements:
The high acuity market has seen rapid technological advancements, with the integration of artificial intelligence (AI) and machine learning in monitoring systems and diagnostic tools.
Telehealth and Remote Patient Monitoring:
The global shift towards telehealth services has propelled the demand for remote patient monitoring devices.
COVID-19 Impact:
The ongoing COVID-19 pandemic has underscored the importance of high acuity solutions in managing critically ill patients.
Focus on Patient-Centric Care:
There is a growing emphasis on patient-centric care, with medical device manufacturers prioritizing user-friendly designs and seamless integration of high acuity solutions into healthcare workflows.
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Regional Analysis: North America, Europe, Asia-Pacific:
The key players operating in this space comprises of
Picis Clinical Solutions, Inc.,
Nihon Kohden,
iSOFT Group Limited,
GE Healthcare,
Cerner Corporation and
McKesson Corporation
Challenges and Opportunities:
While the high acuity market presents lucrative opportunities, it is not without its challenges. Regulatory complexities, data security concerns, and the high cost of advanced medical devices pose obstacles to market growth.
Conclusion:
The global high acuity market is poised for sustained growth as healthcare systems worldwide strive to enhance patient care and outcomes. Technological advancements, a shift towards patient-centric care, and the impact of the COVID-19 pandemic are shaping the landscape of high acuity solutions.
#Global High Acuity Information Solutions Market#Global High Acuity Information Solutions Report#Global High Acuity Information Solutions Industry
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IoT Connected Machines Market Strategic Planning and Analysis Beyond 2023 Forecast
In the era of Industry 4.0, the convergence of digital technologies is reshaping the landscape of manufacturing, ushering in a new era of efficiency, productivity, and connectivity. At the heart of this transformation lies the Internet of Things (IoT) connected machines market, a dynamic ecosystem that promises to revolutionize the way we design, produce, and operate machinery. Join us as we embark on a journey through the vibrant world of IoT connected machines, uncovering its significance, applications, and the driving forces behind its rapid growth.
The IoT Revolution: Transforming Manufacturing
The Internet of Things (IoT) has emerged as a driving force behind the digital transformation of manufacturing, enabling seamless communication, data exchange, and automation across the production lifecycle. IoT connected machines, equipped with sensors, actuators, and connectivity capabilities, serve as the building blocks of smart factories, empowering manufacturers to monitor, control, and optimize their operations in real-time.
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Applications Across Industries
The applications of IoT connected machines span across a diverse array of industries and sectors, each leveraging the power of connectivity to enhance efficiency, quality, and competitiveness. Here are just a few examples of how IoT connected machines are transforming various sectors:
Manufacturing: In the manufacturing sector, IoT connected machines enable predictive maintenance, remote monitoring, and real-time production optimization. By collecting and analyzing data from sensors embedded in machinery, manufacturers can identify equipment failures before they occur, minimize downtime, and optimize production processes for maximum efficiency.
Healthcare: In the healthcare industry, IoT connected machines are revolutionizing patient care, medical device management, and hospital operations. Connected medical devices such as infusion pumps, ventilators, and MRI machines can transmit vital patient data to healthcare providers in real-time, enabling remote monitoring, early intervention, and personalized treatment.
Transportation: In the transportation sector, IoT connected machines are driving innovations in fleet management, vehicle tracking, and predictive maintenance. Connected vehicles equipped with sensors and telematics systems can gather data on fuel consumption, engine performance, and driver behavior, enabling transportation companies to optimize routes, reduce fuel costs, and enhance safety.
Energy: In the energy industry, IoT connected machines are transforming the way power plants, utilities, and renewable energy assets are monitored and managed. Connected sensors and smart meters can collect data on energy consumption, grid stability, and renewable energy generation, enabling utilities to optimize energy distribution, reduce waste, and meet sustainability goals.
Key Players and Market Dynamics
The IoT connected machines market is characterized by a diverse ecosystem of manufacturers, software developers, system integrators, and service providers, each contributing to its growth and innovation. Leading players such as Siemens AG, General Electric Company, Schneider Electric SE, and Bosch Rexroth AG are driving advancements in IoT technology and expanding its applications across industries.
Several factors are driving the growth of the IoT connected machines market, including:
Advancements in Connectivity: Ongoing advancements in wireless communication technologies such as 5G, Wi-Fi 6, and LPWAN are expanding the scope and capabilities of IoT connected machines, enabling faster data transmission, greater coverage, and lower latency.
Cost Reduction and Scalability: As the cost of IoT hardware components continues to decline and manufacturing processes mature, IoT connected machines are becoming more affordable and scalable, making them accessible to a wider range of industries and applications.
Data Analytics and AI: The integration of data analytics and artificial intelligence (AI) technologies with IoT connected machines is unlocking new insights and opportunities for optimization, automation, and predictive maintenance, driving demand for intelligent IoT solutions.
Regulatory Drivers: Regulatory initiatives aimed at promoting energy efficiency, workplace safety, and environmental sustainability are driving adoption of IoT connected machines in industries such as manufacturing, healthcare, and transportation, as companies seek to comply with regulations and reduce their environmental footprint.
Looking Ahead: A Future of Connected Intelligence
As the IoT connected machines market continues to evolve, the possibilities for innovation and transformation are limitless. By harnessing the power of connectivity, data analytics, and automation, businesses can unlock new levels of efficiency, productivity, and competitiveness across industries. As we embrace the promise of IoT connected machines, let us pave the way for a future where every machine is connected, intelligent, and empowered to drive positive change in the world.
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The Role of Government Policies in Shaping the Infusion Pump Software Market
The global Infusion Pump Software Market Revenue, valued at USD 10.2 billion in 2023, is projected to experience steady growth, reaching an estimated USD 14.72 billion by 2031. This market expansion reflects a compound annual growth rate (CAGR) of 4.7% over the forecast period from 2024 to 2031. The rising demand for advanced healthcare technologies and the increasing focus on patient safety are key factors driving the growth of the infusion pump software market.
Infusion pump software plays a crucial role in modern healthcare by controlling and monitoring the delivery of fluids, including medications, nutrients, and other essential therapies, directly into a patient's bloodstream. These software solutions are essential for ensuring accurate dosages, preventing medication errors, and enabling efficient patient management. The increased prevalence of chronic diseases, the growing need for home-based healthcare, and the rising number of surgical procedures are significant contributors to the growing demand for infusion pump software across healthcare facilities globally.
Key Market Drivers
One of the primary drivers for the market is the growing incidence of chronic diseases such as diabetes, cancer, and cardiovascular disorders, which require continuous and precise drug administration. Infusion pump software enhances the precision and safety of drug delivery, reducing the risk of human error, which is critical for chronic disease management.
Additionally, the rising demand for home healthcare services has led to an increase in the use of portable and user-friendly infusion pumps. Infusion pump software that facilitates remote monitoring and integration with digital health platforms has gained significant popularity. This trend has opened new opportunities for market growth as healthcare providers and patients seek more convenient and efficient ways to manage long-term treatments.
Another key factor is the emphasis on improving patient safety. Infusion pump software with integrated safety features such as drug libraries, dose error reduction systems (DERS), and real-time alerts has become a standard requirement in healthcare settings. The software ensures that accurate dosages are administered, minimizing the risk of overdoses or incorrect medication delivery. This emphasis on safety is driving the adoption of advanced software solutions in hospitals and clinics worldwide.
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Technological Advancements and Integration
The infusion pump software market is also benefiting from continuous advancements in technology, particularly in the areas of artificial intelligence (AI) and machine learning (ML). AI-enabled infusion pump systems can predict and adjust infusion rates based on real-time patient data, improving treatment outcomes and enhancing the overall patient experience. Integration with electronic health records (EHRs) allows for better coordination between healthcare providers and ensures seamless access to patient data, further driving the demand for such software.
Moreover, the rise of the Internet of Things (IoT) in healthcare has facilitated the development of smart infusion pump systems that offer remote monitoring capabilities. These systems enable healthcare providers to monitor infusion therapy in real-time, even from a distance, ensuring prompt intervention if any issues arise. This trend is expected to continue driving market growth throughout the forecast period.
Regional Market Insights
North America dominated the global infusion pump software market in 2023, driven by a robust healthcare infrastructure, early adoption of advanced medical technologies, and strong government regulations ensuring patient safety. The region's high prevalence of chronic diseases and the presence of leading market players also contribute to its market leadership.
The Asia-Pacific region is anticipated to witness the highest growth rate over the forecast period. Factors such as increasing healthcare expenditure, rising awareness about healthcare technology, and the expanding base of hospitals and clinics are driving market growth in countries like China, India, and Japan. Additionally, the growing demand for home healthcare solutions is expected to fuel the adoption of infusion pump software in this region.
Key Players in the Market
The infusion pump software market is characterized by the presence of several key players focusing on product innovation, strategic partnerships, and mergers & acquisitions to expand their market share. Some of the leading companies include Baxter International Inc., Becton, Dickinson and Company (BD), Fresenius Kabi AG, ICU Medical Inc., and Smiths Medical. These companies are investing in research and development to introduce new features and improve the functionality of their infusion pump software solutions to meet the evolving needs of healthcare providers.
Conclusion
The global infusion pump software market is set to grow steadily over the next decade, driven by technological advancements, increasing focus on patient safety, and rising demand for efficient and accurate drug delivery systems. As healthcare providers continue to seek innovative solutions for better patient management, the infusion pump software market offers significant growth opportunities for industry players.
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Top Healthcare Technology Trends for 2023
Top Healthcare Technology Trends for 2023
Health information technology is constantly adapting to meet the needs of health care providers. Medical software tools and healthcare technology trends have evolved from a stronger focus on patient satisfaction to greater security of patient data.
Understanding which features and tools your organization will benefit from can take time and effort. Here, we’ll highlight critical current and future healthcare technology trends to help your facility stay ahead of the curve.
Key Takeaways
Organizations might need to increase their budget to purchase better security solutions.
The global cloud computing market stood at $368.37 billion in 2021 and is forecasted to grow at a CAGR of 15.07% from 2022 to 2030.
A virtual health care approach is helping improve outcomes while reducing costs.
Health care data breaches are costly, and each ransomware attack costs an average of $4.82 million per incident. The average data breach cost is increasing by 9.4%.
Significance
The health care industry is in a constant state of change. New technologies and innovations continue to optimize and automate tiring processes to streamline care delivery.
As the industry continues to grow, newer trends emerge that provide a future projection. Capitalizing on the trends before the competition can provide an advantage and a long-term success plan.
With technologies such as AI, IoT and nanomedicine evolving, health care organizations are actively procuring newer solutions to gain an advantage over their competitors. New software not only automates tasks but also plays a key role in customer satisfaction.
That said, let’s take a look at some of the upcoming technological trends in healthcare on the horizon that will create a buzz in the near future. Read on.
Top Trends
Here are the top healthcare technology trends you should be aware of:
1. IoT and Medical Devices
Medical devices are pervasive, and when combined with the internet of things, one can measure their value in expedited workflows, improved inventory management and better employee tracking.
But as IoT and medical devices, like insulin pumps and pacemakers, become more interconnected with computers and networks, they represent significant security risks for patients and providers alike.
Multiple IoT and medical devices have become the standard for many health facilities throughout recent years, with the number of connected devices growing.
Also growing is the market for such devices; estimates vary, with one report saying that the global IoT health care market’s growth projection is an astonishing $2465 billion by 2029.
HCIC task force states that attacks on health information systems expand when interconnected devices, such as mobile devices, medical devices and applications, are permitted to connect to EHR software. This leaves your facility at greater risk the more devices that are connected.
IoT botnets are groups of hacked computers, smart appliances and internet-connected devices co-opted for illegal purposes.
Connected smart devices can be infected with malware and controlled remotely. Any hospital security camera can be used as a botnet to initiate a denial of service attack.
2. Artificial Intelligence and Robotics
In the last decade, the proliferation of AI across industries took the world by storm, and the trend is likely to continue. AI’s application in medicine ranges from increasing the diagnosis accuracy to disease detection.
With the COVID-19 pandemic disrupting the health care industry, radiologists encountered heavy strain as computed diagnosis became the norm. In this situation, an AI-based system removed the radiologists’ burdens by optimizing the diagnosis process.
AI algorithms can perform scans, detect patterns and give diagnoses in seconds. Today, tech giants like Google and IBM have released their AI-infused technologies that help medical facilities unearth data.
The industry will actively use AI-based tools to quickly find new drugs and act on trends. Furthermore, AI chatbots are becoming popular in health care as a medium to provide help to customers through email and phone support 24/7.
Companies are combining AI with robotics to make virtual assistants for doctors and nurses. It also helps physicians provide care without going near a patient.
3. Increased Use of the Cloud
According to a Research and Markets Survey, the global cloud computing market is expected to grow at a CAGR of 18.79% through 2026, rising from $289.25 billion in 2021. This is due to growing calls for lower IT costs through cloud computing services.
The migration from on-premise-based storage to the cloud or hybrid model continues to gain market acceptance, and data needs demand the same.
Larger health facilities and hospital systems with multiple locations or departments prefer cloud-based solutions instead of on-premise based. Part of this is due to the ability of physicians to quickly and easily access up-to-date information and a lot of it.
While cloud-based solutions may be more popular in general, they do worry some companies concerned with security threats. On-premise systems may prevent online threats more thoroughly, but many cloud-based solutions have started to protect their data with more effective and secure encryptions.
4. Digital Therapeutics
With the proliferation of digitization in health care, patients have become empowered. Digital health solutions help patients take an active part in their care plans. It is a subset of digital health that improves care delivery and provides evidence-based care through software.
According to Saurabh Gupta, Innovation Research and Strategy expert at Netscribes, the digital therapeutics trend saw an immense boost because of the COVID-19 pandemic, and it continues to help medical professionals redefine their outlook on care delivery.
It also helps in improving clinical pathways. For example, the FDA has approved a digital therapeutic game for children with ADHD.
5. Mental Health Technology
The COVID-19 pandemic played a significant role in boosting the digitization of the psychological industry. Today, we can find mental health services available online through solutions like HIPAA-compliant video conferencing tools.
At this critical juncture, technology came to the rescue.
Video Game Treatment: Since the pandemic, the U.S. government has focused extensively on mental health solutions. Their effort bore fruit when EndeavorRX was released for kids ages 8–12 years old with ADHD. The game helps them focus on multiple things at once to boost their mental abilities.
Smartphone Therapy: Today, smartphones come with integrated AI assistants and features. The same algorithm creates chatbots that can record and analyze speeches to detect abnormalities or mental illness. Further, bots can provide 24/7 therapy to patients.
6. Virtual Reality
One of the technological trends in healthcare that has made considerable headway in the pharmaceutical industry is the application of VR (virtual reality), AR (augmented reality) and MR (mixed reality). They are improving patient recovery time and hospital management.
The computer-generated environment helps medical professionals simulate a situation or experience of interest using a VR headset.
According to a Fortune Business Insights report, the global health care VR market is projected to grow at a CAGR of 38.3%, rising from $1.2 billion in 2021 to $11.6 billion in 2028.
The technology automates a facility’s day-to-day activities, including staff recruitment and 3D simulation and increases productivity and efficiency.
Further, it helps facilities provide medical training to new hires. VR allows them to simulate the human body’s interior and perform surgeries to train for real-life situations.
7. Advances in Virtual Care
According to a Statista study, the $50 billion telemedicine global market will grow at a significant pace, reaching a projected value of $460 billion by 2030.
Virtual health care offerings, telemedicine capabilities and remote patient monitoring offer a number of benefits to both patients and physicians.
Virtual care has become increasingly popular due to efforts to provide the least expensive care in the most effective possible setting. Another reason is reimbursement initiatives and the regulation of such tools.
As with everything else in our lives, the demand for health care is becoming increasingly shaped by mobility. Patients want the same access to health care that they have for everything else in their daily lives.
While some providers may not have embraced this more recent trend, that won’t stop connected devices and on-demand care from becoming increasingly mainstream.
Patient Engagement
More recently, patients have started to view themselves as health care consumers. They want technology like patient-care portals that provide immediate results, direct access to their providers, and the ability to handle payments and manage appointments online.
Smartphones are starting to be used not only in health facilities but in classrooms as well. While technology is changing how patients interact with their providers and make decisions, it also affects health professionals’ training and education.
This allows students to share information with one another in real-time, preparing them for the technology they’ll be using once they’re on the job.
Wearables
The line is blurring between consumer health wearables and medical devices. Related to mobile devices is the exploding demand for wearable devices like Fitbits. According to GlobalData, the wearable industry is set to reach $54 billion in 2023.
One problem with wearables is that security risks and privacy concerns arise in cases of insecure data transfer over networks and when third parties store the information on their databases.
According to an article from Nature, point-of-care wearable devices streamline data gathering for clinics and hospitals.
Today, epidermal-based wearables, flexible wearables and textile-based wearables monitor patients’ clinical conditions, including cancer, mental illness and blood sugar levels. These devices have become one of the most popular healthcare technology trends.
8. Data Explosion
Let’s start at the source: data. Its value has never been higher, even as it continues to grow exponentially. Ironically, the health care profession was slow to embrace data digitization.
Now, its data volume is growing faster than the manufacturing, financial services and media industries. According to an RBC Capital Markets report, health care data will experience a CAGR of over 36% through 2025.
With this rapid growth in data, systems have to be able to store it all securely. Blockchain technology is one of the biggest health IT trends. It allows for more digital information to be stored while taking up far less space in the process.
The demand for health care data will only increase with the advent of value-based care, predictive analytics and AI. Providers are starting to recognize the potential of applying artificial intelligence to the patient information collected through various electronic records systems.
The end goal is to help physicians make decisions, reduce financial risk, manage chronic diseases and more.
Dangers to Data
Data breaches will continue to challenge the health care field for years to come.
The size of breaches has declined, but their number has increased over all industries. Bad actors have gained access to network data, compromised security and held health care providers hostage through targeted phishing attacks and social engineering.
Unlike in the past, however, the value of the data (patients’ addresses, social security numbers, credit cards, health insurance information and health records) has declined because so much is already on the dark web.
A popular tactic now is to hijack your data and get you to pay ransom for its return rather than selling it to a third party.
Reducing Risk
With the fight against ransomware becoming a top priority, health care professionals require a more in-depth view of their current infrastructure to better mitigate risks.
Providers need to make data governance a core component of their IT security strategy. You also need to appreciate that health IT security is getting more specialized. Even though cardiologists and dermatologists both have MDs after their names, you wouldn’t turn to the dermatologist for chest pain. Similarly, your IT team must possess the right skills for different security requirements.
Whether you’re a small, two-person practice or a large multi-hospital system, staying on top of health IT security and privacy will only grow more challenging given the nature of the threat and size of the problem. It’s unfamiliar territory for a profession where treating patients and not protecting data has been the top priority.
9. Nanomedicine
Remember Iron Man’s nanosuit technology? Well, it’s no longer a myth. Nanotech application in medicine is happening as we speak. Scientists are creating nanorobots called Xenobots that can self-replicate. This can revolutionize nanomedicine.
According to an article, the application of nanomedicine ranges from the medical applications of nanomaterials and biological devices to nanoelectronic biosensors. Another possible future application can be in the field of molecular nanotechnologies, such as biological machines.
10. 3D Bioprinting
In health care, 3D bioprinting is not a new technology. However, its capability to create natural tissue-like, three-dimensional structures is certainly attracting attention from scientists and researchers.
With the new and sophisticated version of prosthetics treatment and many improved technologies, it is only a matter of time before the discipline gains traction. It reduces the hefty costs of implants and prosthetic treatment.
Further, patients are getting more and more options for cardiovascular and neurological implants. 3D bioprinting can also enhance bionic prosthesis for knees and hips.
Conclusion
Health IT trends are constantly changing to meet the needs of health care organizations and providers.
While these trends may pose certain concerns to security and patient privacy, they have also helped lead to greater opportunities to treat health care security more holistically while increasing the level of security at the same time.
The end result will be better ways to manage data in our efforts to improve patient outcomes and lower health care costs.
Healthcare technology trends are helping organizations become more agile with their operations and increase their revenue and quality of care.
While you shouldn’t be afraid of these growing technologies, it’s important not to ignore the trends and be prepared to take advantage of them as best you can. Facilities that ignore these technology trends in health care will fall behind in the long run.
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Internet of Things (IoT) in Healthcare Market to be Worth $312.7 Billion by 2030 - Exclusive Report by Meticulous Research®
According to a new market research report titled, ‘IoT in Healthcare Market by Component (Monitoring Devices (Glucose, Cardiac, Respiratory, Blood Pressure), Pacemaker, Ventilator, Infusion Pump}, Software), Application (Telehealth, Imaging, Operation Management), End User - Global Forecast to 2030’ published by Meticulous Research®, the IoT in healthcare market is projected to reach $312.7 billion by 2030, at a CAGR of 15% from 2023 to 2030.
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The healthcare industry is rapidly shifting from paper-based healthcare to digital healthcare technology. Effective use of IoT-enabled solutions in healthcare fulfils the need for better diagnosis and treatment, thereby reducing the cost of healthcare services. This digital approach is patient-centric and uses data from across the healthcare continuum to improve the patient experience and the population's health and reduce a load of chronic diseases in the population.
The increasing burden of chronic diseases, rising number of patients, growing geriatric population, technological advancements in the healthcare sector, and focus on digitalization in the healthcare industry are driving the IoT in healthcare market growth. The rising focus on telehealth and the growing adoption of IoT-enabled medical devices and sensors for effective treatment delivery provide market growth opportunities. However, patient data security concerns and issues related to data management and interoperability are creating challenges for the growth of this market to some extent. High implementation and ownership costs of IoT infrastructure and a lack of consumer awareness about healthcare IoT in emerging economies hinder the market growth.
Some of the key players in the IoT in healthcare market include Medtronic plc (U.S.), GE HealthCare Technologies Inc. (U.S.), Koninklijke Philips N.V., Philips (Netherlands), Siemens Healthineers (Germany), Abbot Laboratories (U.S.), Boston Scientific Corporation (U.S.), Honeywell Life Care Solutions (U.S.), BIOTRONIK SE & Co. KG (Germany), AgaMatrix, Inc. (U.S.), Securitas Healthcare, LLC. (U.S.), AliveCor (U.S.), iHealth Labs, Inc. (U.S.), Johnson & Johnson (U.S.), Baxter (U.S.), OMRON Healthcare, Inc. (Japan), Intel Corporation (U.S.), International Business Machines Corporation (U.S.), and Microsoft Corporation (U.S.).
Growing Focus on Telehealth to Offer Opportunities for Internet of Things (IoT) in Healthcare Market Growth
Telehealth uses communication technologies and digital information, such as smartphones and computers, to manage and access remote healthcare services. Many countries increasingly adopt telehealth in their healthcare services infrastructure. With IoT-based solutions, healthcare providers and patients can monitor their progress through the automated record of patients’ vitals and other health conditions. The data collection and remote connectivity of IoT technology make it perfect for expanding and enabling telemedicine services government bodies across the globe are also emphasizing the use of telehealth technologies, thus driving market growth. For instance, in February 2020 CDC issued a guideline to healthcare providers to adopt telehealth services to reduce the risk of COVID-19 spread. Additionally, the shortage of healthcare providers, the rising elderly population, the increasing burden of chronic diseases, and technological advancements in the healthcare sector provide market growth opportunities.
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IoT in Healthcare Market is segmented by Component (Medical Devices [by Type {Benchtop & Portable Medical Devices, Implantable Medical Devices, Wearable Medical Devices}, by Product {Imaging Systems, Monitoring Devices, Cardiovascular Devices, Patient Monitors, Ventilators, Infusion Pumps, Anesthesia Machines, Hearing Devices, Dialysis Machine, Other IoT-enabled Medical Devices}], Software [Data Collection and Analytics, Device Integration, Hospital Operation Management, Others], Services), Application (Telehealth/Telemedicine, Hospital Operations & Workflow Management, Inpatient Monitoring, Imaging, Other Applications), End User (Hospitals & Clinics, Home Care & Long-Term Care Centers, Health Insurance Companies, Personal Users, Other End Users), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Based on component, the IoT in healthcare market is segmented into medical devices, software, and services. In 2023, the medical devices segment is expected to account for the largest share of the IoT in healthcare market. Wearable IoT medical devices and home monitoring systems provide clinicians with essential data about patients' vital signs, physical activity, and other health parameters. These parameters play an important role in remote patient monitoring. IoT-enabled medical devices act as a support system for healthcare providers as it eliminates the need for the physical presence of doctors. Moreover, the growing emphasis on patient care and safety, the need for patient data for accurate diagnosis, and consumer inclination toward medical devices for self-care drive the market.
Based on application, the IoT in healthcare market is segmented into telehealth/telemedicine, hospital operations & workflow management, inpatient monitoring, imaging, and other applications. In 2023, the telemedicine segment is expected to account for the largest share of the IoT in healthcare market. The largest share of the segment is attributed to the high adoption of telemedicine in healthcare services by many countries, increased accessibility to healthcare services in remote locations through telemedicine, and government initiatives for the adoption of telemedicine.
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IoT telemedicine can enable healthcare providers to remotely monitor patients' health status in real-time, allowing for early intervention and better management of chronic conditions. IoT-enabled remote patient monitoring solutions can include wearable devices that monitor vital signs, such as heart rate, blood pressure, and glucose levels, and send the data to healthcare providers for review.
Based on the end user, the IoT in healthcare market is segmented into hospitals & clinics, home care & long-term care centers, health insurance companies, personal users, and other end users. The home care & long-term care centers segment is projected to register the highest CAGR during the forecast period. People suffering from chronic diseases prefer home care & long-term care over hospitals and clinics owing to the comfort and convenience of patients in home care, less cost, and faster recovery. This is expected to drive the market. IoT-enabled medical devices in care centers help patients and healthcare providers monitor health in real time for treatment planning and tracking patients' health conditions.
Based on geography, the IoT in healthcare market is segmented into North America, Europe, Asia-pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to register for the highest CAGR over the forecast period. The growth of this market is attributed to the fast-growing healthcare industry, efforts to digitalize the healthcare infrastructure in India, China, and other emerging economies, investments & reforms to modernize China’s healthcare infrastructure, and the need to manage the burden of chronic diseases.
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Scope of the Report:
IoT in Healthcare Market Assessment, by Component
Medical Devices
Medical Devices, by Type
Benchtop & Portable Medical Devices
Implantable Medical Devices
Wearable Medical Devices
Medical Devices, by Product
Imaging Systems
Monitoring Devices
Blood Glucose Monitoring Devices
Cardiac Monitoring Devices
Blood Pressure Monitoring Devices
Multiparameter Monitoring Devices
Respiratory Monitoring Devices
Fetal and Neonatal Monitoring Device
Neurological Monitoring Devices
Other Monitoring Devices (Oxygen Concentrator, Thermometer, and Weight Monitoring Devices)
Cardiovascular Devices
Implantable Cardioverter Defibrillators
Pacemakers
Patient Monitors
Ventilators
Infusion Pumps
Anesthesia Machines
Hearing Devices
Dialysis Machines
Other IoT-enabled Medical Devices
Note: Other monitoring devices include Oxygen Concentrator, Thermometer, and Weight Monitoring Devices
Note: Other IoT-enabled medical devices include sleep therapy devices, medical emergency response systems, hand hygiene monitors, posture and activity tracking systems, and connected inhalers.
Note: Consumer electronic devices such as smartwatches and fitness trackers are not considered under the scope of this study
Software
Data Collection and Analytics
Device Integration
Hospital Operation Management
Other Software
Services
Other software include medication management, hospital components management, and data and application security.
IoT in Healthcare Market Assessment, by Application
Telehealth/Telemedicine
Hospital Operations & Workflow Management
Inpatient Monitoring
Imaging
Other Applications
Other applications include Fitness and wellness Measurement, Predictive Device Maintenance, and Medication Management
IoT in Healthcare Market Assessment, by End User
Hospitals & Clinics
Home Care & Long-Term Care Centers
Health Insurance Companies
Personal Users
Other End Users
Other end users include academic & research institutes, defense, and government agencies.
IoT in Healthcare Market Assessment, by Geography
North America
U.S.
Canada
Europe
U.K.
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
Latin America
Middle East & Africa
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Contact: Mr. Khushal Bombe Meticulous Market Research Inc. 1267 Willis St, Ste 200 Redding, California, 96001, U.S. USA: +1-646-781-8004 Europe : +44-203-868-8738 APAC: +91 744-7780008 Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/ Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Content Source: https://www.meticulousresearch.com/pressrelease/204/healthcare-iot-market-2030
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Infusion Pump Software Market Size: Impact of COVID-19
The Infusion Pump Software Market Size was valued at USD 10.2 billion in 2023, and is expected to reach USD 14.72 billion by 2031 and grow at a CAGR of 4.7% over the forecast period 2024-2031.The infusion pump software market is experiencing significant growth, driven by advancements in healthcare technology and the rising demand for precise and efficient drug delivery systems. These software solutions are crucial for managing and controlling infusion pumps, ensuring accurate dosage and enhancing patient safety. With the increasing prevalence of chronic diseases and the growing adoption of home healthcare services, there is a heightened need for reliable and user-friendly infusion pump software. Additionally, integration with electronic health records (EHRs) and the incorporation of advanced features such as real-time monitoring, data analytics, and remote management capabilities are further propelling market expansion.
The market report for Infusion Pump Software Market includes a comprehensive examination of the competitors' profiles. The market study looks at the potential for future growth, sales, expanding demand, and manufacturing capacity that is now available. In order to keep readers informed of quickly evolving markets, the study uses modern approaches to collect and synthesize essential primary and secondary research data and concepts.
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COVID-19 Impact on Infusion Pump Software Market
A more in-depth examination of the present situation, the state of the economy, and COVID-19's impact on the sector as a whole will be provided by the market study. In order to complete the entire process of market research and analysis, including correct data for all segments, subsections, and market growth, the study combines market breakdown and data triangulation approaches.
Market Segmentation
BY Type
Dose Error Reduction Software (DERS)
Interoperability Software
Clinical Workflow Software
By Indication type
General Infusion
Pain and Anesthesia Management
Insulin Infusion
Chemotherapy
Enteral Infusion
By End User
Hospitals
Ambulatory Centers Settings
Home Healthcare Settings
Academic & Research Institutes
Regional Overview
The study provides a comprehensive analysis of the key nations and areas involved, as well as a rating of revenues, market shares, and potential for future growth. The market for Infusion Pump Software Market was created by researching the top competitors in the industry. It provides information on the market's development prospects, growth drivers, and growth restraints in both qualitative and quantitative forms.
Competitive Scenario
The research examines leading nations around the world, as well as recent events and possible results in the field. To create the Infusion Pump Software Market study, the top market rivals were investigated. The research looks at SWOT and Porter's five forces in order to provide a detailed insight of the market. Secondary research was carried out to examine and forecast market entities by obtaining data on significant organizations.
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Unveiling the Power of Data: Global Advanced Infusion System Market
The advanced infusion system market is anticipated to increase in value from US$ 8,862.8 million in 2023 to US$ 16,536.9 million in 2033. Over the course of the forecast period, advanced infusion system sales are anticipated to grow at a noteworthy CAGR of 6.4%.
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Precise Dosing and Enhanced Patient Safety: Advanced Infusion Systems Take Center Stage
The global advanced infusion systems market is experiencing significant growth, driven by the growing demand for accurate and controlled medication delivery. These advanced systems offer significant advantages over traditional methods, promoting wider adoption within the healthcare field.
Tailored Treatments for Diverse Needs
Advanced infusion systems allow for the administration of fluids and medications through various routes, including:
Subcutaneous: Delivery of medication just beneath the skin.
Epidural: Delivery of medication into the epidural space, near the spinal cord.
Enteral: Delivery of nutrition directly into the stomach or small intestine.
Intravenous: Delivery of medication directly into the bloodstream.
Key Takeaways:
The global advanced infusion systems market is projected to reach US$16,536.9 million by 2033, reflecting a significant rise from US$8,862.8 million in 2023.
This growth is anticipated at a healthy compound annual growth rate (CAGR) of 6.4% throughout the forecast period.
The increasing adoption of advanced infusion systems for precise and controlled drug delivery is a key driver for market expansion.
Competitive Landscape:
Important Market Players Making Various Efforts to Gain an Advantage
The major players in the market for advanced infusion systems are always working together and putting out great effort to develop high-end infusion systems that will help patients by providing them with more sophisticated and equipped solutions.
Recent Developments
In January 2020, Medtronic (Ireland) Launched Efficio, a cloud-based data management software, for use with the SynchroMed II intrathecal drug delivery system. This enables clinicians to efficiently manage their targeted drug delivery pump practices to treat patients with chronic pain, cancer, and severe spasticity.
In March 2020, Q Core Medical Company opened a new manufacturing unit in Europe to capitalize on the opportunities offered by the advanced infusion systems market due to the increasing geriatric population and increasing demand for the adoption of infusion systems in healthcare, therapeutic effectiveness, and reliability.
Key Companies Profiled:
TERUMO CORPORATION
AIS HealthCare
B. Braun Medical Ltd
Medtronic
Baxter
MOOG INC.
armed ag
AVA Biomedical
BD
Smiths Group plc.
Advanced Infusion System Market:
By Product:
Elastomeric Infusion System
Volumetric Infusion System- Large Volume and Small Volume Pump
Patient Controlled Analgesia pump
Disposable Infusion System
Syringe Infusion System
Ambulatory Infusion System
Implantable Infusion System
By Application:
Chemotherapy
Diabetes
Pain management
Asthma
Clinical Nutrition
By End User:
Hospitals
Ambulatory Surgical Centers
Diagnostic centers
Bedside
By Region:
North America
Latin America
Europe
South Asia & Pacific
East Asia
The Middle East & Africa (MEA)
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