Next Generation IV Infusion Pumps Market: By Product Type (Syringe infusion pumps, Large Volumetric Infusion Pumps, Implantable Infusion Systems, Patient Controlled Analgesia Pumps, Disposable Elastomeric Infusion Systems, Others), By Application (Analgesia, Oncology, Hematology, Diabetes, Neonatology, Neurological Disorders, Gastroenterology, Others), By End-User (Hospitals, Clinics, Ambulatory Surgical Centres) and By Geography  

Next-Generation IV Infusion Pumps Market size is expected to grow at a CAGR of 5.3% from 2023 to 2029. Next generation IV infusion pumps market growth driven by the innovation of newer pumps with modern technologies. Majority of the market players are developing newer technologies such as wearable insulin pumps, smartphone connected insulin pumps, and implantable insulin pumps among others, which are anticipated to fuel the market. Moreover, advantages with next generation pumps such as ease of using, patient safety, and accurate dosage also expected to bolster the market. Furthermore, acquisitions and mergers, product approvals, and product launchings are the strategies followed by market players for increasing their revenue share in next generation IV infusion pumps market. For instance, in May 2016, Hospira launched LifeCare PCA 7.0 next generation infusion system for patient controlled analgesia which enables auto-programming and streamline documentation of infusion data to improve the efficacy and safety of pain management medication administration. Next generation IV infusion pumps are the combination of intuitive user interface, simplicity, and state of art information technology. Next generation IV infusion pumps are inclined with the advanced pumping systems to improve the patient safety and work efficiency. A user interface is designed for next generation IV infusion pumps to diminish the programming errors to save the time and reduce in pump interactions. Next generation IV infusion pumps are frequently adopted by healthcare professionals to improve patient safety. The other advantages with next generation IV infusion pumps include affordability, flexibility, and ease of use, scalability, targeted delivering, and safer operability among others. in May 2016, Hospira launched LifeCare PCA 7.0 next generation infusion system for patient controlled analgesia which enables auto-programming and streamline documentation of infusion data to improve the efficacy and safety of pain management medication administration.