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Market Intel: Infusion Pump-Makers Look to Improve Safety Through Interoperability

 
• By Robert Neil

While infusion pumps are vital to patient care and used in abundance in hospitals, they are also associated with numerous errors. One of the keys to addressing this problem lies in improving the devices’ interoperability with hospital IT systems, and as those changes are starting to materialize, so are opportunities for new players in this space.

Intensive care infusion pump adjusted by a doctor hand
Infusion pumps overcoming high error rate challenge • Source: Shutterstock

New products, new players and new deals are attempting to alter the market for infusion pumps, which -- unfairly or not -- have a reputation as being one of the single biggest safety concerns in hospitals. While high demand for infusion pumps has led to a multibillion-dollar market, safety issues have created a need to improve product performance and user experience. Existing and new companies are working to meet those needs, which can be viewed as an opportunity to improve quality in a market that investors predict will maintain steady growth for the near future.

The worldwide market for infusion pump hardware is about $1.5bn annually with an approximate annual growth rate of 4%, according...

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