Baxter’s recall of its Novum pump may negatively affect sales in the infusion pump market. This recall comes after a report of one serious injury related to under-infusion risks when the standby feature is used, and it has been determined that this risk increases when being used at higher flow rates. Although Baxter’s recall presents a short-term setback for revenue, this is unlikely to result in much change to its position in the infusion pump market. The infusion pump market was worth $1.74bn in 2024 and is expected to reach $2.2bn in 2034 with a compound annual growth rate (CAGR) of 2.4%, according to GlobalData, a leading data and analytics company.
The global infusion pump market is expected to show significant growth due to an increasing population with health conditions that are chronic in nature, as well as the technical advancements being made in this field, where each step in the treatment process of patients is becoming more automated. Some barriers to this growth may be the trend of elevated at-home use of infusion devices and the increased cost of more sophisticated infusion pump products from these technological advancements.
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Baxter currently occupies approximately 27.6% of the infusion pump market and is the largest player in this space, while competitors such as Becton Dickinson, B. Braun, and ICU Medical take up 20.2%, 18.4%, and 8.7% of the market, respectively. While it is doubtful that Baxter’s standing in this market will change, this could present an opportunity for competitors to make market share gains in response to this recall.
Infusion pumps are vital devices for controlling the delivery of life-saving medications, blood, and nutrients and it is paramount that these mechanisms be dependable for avoiding these very situations. Currently, the damage caused by these devices is relatively small; however, incidences such as this can influence short-term revenue as trust in their functionality may falter.
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By GlobalData
