The market for MRI-compatible IV infusion pump systems is anticipated to be worth US$ 234.8 million by the end of 2022 and to grow at a CAGR of 9.5% between 2022 and 2032 to be worth US$ 580.3 million by that time. The market is seeing an increase in demand for IV infusion pump devices that can give intravenous fluids and other medications safely and accurately both during and after an MRI scan. To increase the consumer base in different geographies, manufacturers in the global MRI-Compatible IV Infusion Pump Systems Market are adopting the strategy of new product launches. For instance, in 2015 Fresenius Kabi and Halyard Health entered into a distribution agreement, under which Fresenius Kabi would supply and distribute Halyard Health’s disposable elastomeric intravenous (IV) infusion pumps.
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These strategic collaborations are playing a vital role in the development of the global MRI-Compatible IV Infusion Pump Systems Market. According to our analysts, key vendors in the market need to efficiently meet requirements of various end users and ensure supply of the required products, as quality and positive outcome are of utmost importance to end user industries.
While focussing on various segments we have observed that by product type, the non-magnetic MRI-compatible IV infusion pump system segment is expected to witness a significant rise in revenue share over the forecast period, owing to the efficiencies of the pump system and increasing awareness about the benefits of non-magnetic pump systems. As far as regions are concerned, APEJ is the most lucrative market followed by MEA and North America. It has been noticed that hospitals and diagnostics and imaging centres in APEJ are expected to witness comparatively significant growth due to increasing demand for advanced non-magnetic MRI-compatible IV infusion pump systems coupled with the developed medical infrastructure in the region.
Tier-2 and Tier-3 IV infusion pump system manufacturing companies are expected to be direct competitors to Tier-1 companies in the long run
In the global MRI-Compatible IV Infusion Pump Systems Market, Tier-1 companies develop, manufacture and market both magnetic and non-magnetic MRI-compatible IV infusion pump systems. These companies include the likes of iRadimed Corporation, Fresenius Kabi AG, B. Braun Melsungen AG and others, contributing leading shares to the market globally. Tier-2 companies also supply IV infusion pump systems to end users such as hospitals and MRI diagnostics and imaging centres. These companies include Baxter International Inc., Becton, Dickinson Company (Carefusion), Arcomed AG, Hospira Inc., Terumo Medical Corporation and others. Tier-3 companies include Mindray Medical International Limited, Caesarea Medical Electronics, Q Core Medical Ltd., Flowonix Medical Inc., Shenzhen Carewell Electronics Co., Digicare Biomedical Technology, Adox S.A, Argus AG and other regional players who provide IV infusion pumps and are expected to be possible competitors to the Tier-1 MRI-compatible IV infusion pump system manufacturers in the long run.
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Research Methodology
We have considered weighted average pricing for different non-magnetic MRI-compatible IV infusion pump systems. This has been done based on information gathered from reliable secondary sources validated through marketplace discussions and private company databases. Pricing values of non-magnetic MRI-compatible IV infusion pump systems have been counter validated with market experts through primary research and also after consolidating regional variations in price levels. Currency fluctuations have not been taken into account. This study also rules out the impact of extreme events in specific countries.
- Round–off figures/prices have been considered for analysis
- Weighted averaging of high-end and low-end pricing has been done to rule out the effect of extreme values and brand weights
- Shipping charges have not been included in regional pricing
- A demand-supply gap analysis has been performed involving both marketplace discussions and desk research to determine pricing premiums
Market Segmentation
Product Type
- Devices Type
- Non-magnetic Pump System
- Magnetic Pump System with Shielding
- Tubing and Disposables
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End User
- Hospitals
- Ambulatory Surgical Centres
- Diagnostics and Imaging Centres
Region
- North America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Latin America
- MEA
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