Drug delivery products encompass injection devices, infusion pumps and related administration sets, gravity administration sets, vascular access devices, enteral therapy pumps and sets, and external insulin pumps and sets. Our definition specifically excludes orally administered agents, depot and transdermal drugs, and implantable pain pumps.
Drug delivery is ubiquitous within health care delivery, employed across the full array of health delivery vehicles. It is especially important for hospitalized patients, who require the administration of fluids and drugs to prevent dehydration, treat various conditions, and provide an open route for emergency treatment. As such, it is one of the technology segments benefitting from the current COVID-19 pandemic.
Drug delivery products expected to see the greatest increase in demand due to the Coronavirus pandemic include infusion pumps and proprietary sets (essential on both hospital floors and especially in intensive care wards treating the most serious COVID-19 patients), vascular access devices, and gravity administration sets. Syringes are also important to deliver medications, including insulin to hospitalized diabetic patients who are at heightened risk for the COVID-19 virus. We have assumed demand for enteral therapy devices and insulin pumps and sets will be minimally impacted by the pandemic, if even that, and so have forecast them to experience “normal” real annual growth rates through 2024.
Combined sales of pumps and sets are projected to increase nearly 47% in 2020 to $7.1 billion, a 42% increase over the normal expected level. (In addition to standard treat-ment of hospitalized patients COVID-19 patients, we believe the pumps will be required to deliver the promising treatments being used and developed to prevent COVID-19 deaths.) Because the $7.1 billion sales include numerous new pumps in addition to the sets that typically contribute the largest share of the market, we are forecasting sales to gradually decline through 2022 as the pandemic’s effects subside, approaching normal levels in 2023 and 2024.
For more details visit: https://www.lifesciencemarketresearch.com/covid-19-impact-tracker