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Innovation and Geographic Expansions Remain the Key Growth Strategies Adopted by Leading Players in the Infusion Pumps and Accessories Market
The infusion pumps and accessories market is largely dominated by few leading companies. The top 10 companies in the market accounted for about 70 to 80% of the global infusion pumps market. A majority of these players are based in the U.S and Europe.
CareFusion Corporation (U.S.) and Baxter International Inc. (U.S.) were the leading players in the infusion pumps and accessories market in 2013, with market shares of approximately 12% to 15%, each. CareFusion has a diversified product portfolio which includes a wide range of volumetric, syringe, and ambulatory infusion devices and related accessories. CareFusion has an extensive market presence and a strong position in the U.S. infusion pumps and accessories market which is the largest market across the globe. The company is continuously expanding its product offerings with the launch of new and upgraded products. The company also had made distribution agreements with leading market players such as Terumo Corporation (Japan) to gain new customers and thereby expand its global reach
The stronghold of Baxter International (U.S.) in the infusion pumps and accessories market can largely be attributed to its product portfolio that includes volumetric and ambulatory systems for large number of applications. The company’s continuous investment in capacity expansion has made it stronger in terms of production capacity. Moreover, the company has a strong geographic presence in almost 100 countries across the globe. Baxter acquired leading companies in the market such as Baxa Corporation (U.S.) and SIGMA International General Medical Apparatus, LLC. (U.S.) to expand its product portfolio and strengthen its global presence.
The key strategies followed by most companies in the global infusion pumps and accessories market in 2011 and 2013 were new product launches, expansions, mergers and acquisitions, and partnerships and agreements.
In this market, the top players face strong competition to maintain their leading positions. In order to uphold the respective shares in the market, many players in this market aim to either diversify their product portfolios or expand their geographic presence. While organic expansions have been followed by some companies, a majority of the top players have adopted mergers and acquisitions as their key growth strategy.
Infusion Pumps & Accessories Market by Product (Volumetric, Syringe, Enteral, Insulin, Implantable, PCA Pump), Application (Diabetes, Chemotherapy, Nutrition, Pain Management) & by End-user (Hospital, Home Healthcare) - Global Forecasts to 2018
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