US Infusion Pump Market to Grow Strongly to $3.6 Billion by 2017

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 US Infusion Pump Market to Grow Strongly to $3.6 Billion by 2017

Growth Largely Driven by Government Incentives and Penalties, According to Millennium Research Group

TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, growth in the US 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 (EMR) systems will be fueled by incentive funding from the Health Information Technology for Economic and Clinical Health (HITECH) act, while purchases of infusion pumps designed specifically for pain management will be encouraged by Centers for Medicare and Medicaid Service (CMS) incentive bonuses.

    "These incentives and penalties are not the only reason hospitals are focusing on pain management using infusion pumps"

Facilities and physicians can qualify for incentive funding by demonstrating meaningful use of healthcare information technology (HCIT), which includes infusion pumps that offer interoperability with EMR systems. As of 2012, only CareFusion and Hospira had hospital sites that integrated infusion pumps with EMRs, positioning both companies to take advantage of the trend toward hospitals integrating healthcare devices with information technology through 2017.

Infusion pumps designed specifically for pain management, such as disposable postoperative pain management pumps, 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 (HCAHPS) scores. 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.

"These incentives and penalties are not the only reason hospitals are focusing on pain management using infusion pumps," said MRG Analyst Travis Allen. "Efficient pain management reduces hospital stays and costs overall. For example, a recent study shows that nerve blocks performed with infusion pumps after anterior cruciate ligament (ACL) reconstruction made patients more likely to bypass the postanesthesia care unit and be discharged the same day. As a result, disposable postoperative pain management pumps will expand the most quickly of all segments in the US infusion pump market through 2017."

Millennium Research Group's US Markets for Infusion Pumps 2013 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for insulin pumps, volumetric pumps, disposable ambulatory pumps, electronic ambulatory pumps and syringe pumps sold in the United States.

About Millennium Research Group

Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources Group

Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.

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